Category: Uranium

Hathor Exploration Limited: Brokered Private Placement at $3.10 Per Share Closes Over-Subscribed Raising Gross Proceeds of $8,002,650

Stephen G. Stanley, the President of Hathor Exploration Limited (HAT: TSX-V, the "Company"), announces the Company has closed a brokered private placement with Salman Partners Inc., HSBC Securities (Canada) Inc., Cormark Securities Inc., Raymond James Ltd., and J.F. Mackie & Company Ltd. (the "Agents"), previously announced on November 5, 2008.

A total of 2,581,500 flow-through common shares (the "FT Shares"), (which includes 646,000 FT Shares issuable upon exercise of an Over-Subscription Option) were sold at a price of $3.10 per FT Share.

The Agents received a cash commission on the sale of the FT Shares, representing 5.5% of the gross proceeds raised, totalling $440,145.75. The Company also issued share purchase warrants to the Agents (the "Agents' Warrants") entitling the Agents to purchase an additional 141,982 non flow-through common shares (the "Agents' Warrant Shares") at the price of $3.10 per common share until the close of business on November 20, 2010.

In accordance with securities legislation currently in effect, the FT Shares, Agents' Warrants and Agents' Warrant Shares will be subject to "hold period" of four months plus one day from the date of closing, expiring March 21, 2009.

The net proceeds will be used to fund further exploration of the Company's Midwest Northeast Uranium property, Saskatchewan and other Canadian exploration properties.

Hathor Exploration Limited

Stephen G. Stanley, Director

SOURCE: Hathor Exploration Limited

Hathor Exploration Limited Stephen Stanley (604) 684-6707 Hathor Exploration Limited Tony Nunziata (403) 560-7040 Website: www.hathor.ca

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