Interview with Stephen Stanley, June 29th

David Pescod:

to ask about this Rodney Dangerfield label he’s being given by

the markets. Hathor seems to have one of the most exciting

stories we can find in the uranium sector and yet Stephen there

seems to be this confusion about what next?

Now that you’ve finished the winter drilling program what

are your thoughts on what is next?

Stephen Stanley:

focus on the market giving us respect we have to focus on giving

the market results! And speaking of results we have two

key things about to take place. The first is our summer drill

program which will consist of a minimum of two drill rigs, one

drilling from a barge and the other drilling from land. The second

is the commencement of our first 43-101 resource calculation

on the Roughrider Zone that should be completed late September/

early October.

D.P: Even the analysts seem to be confused about that question,

I mean we read reports by some analysts expecting 20

million pounds and others expecting 40 million pounds it

would be hard now to make a guesstimate?

S.S: Yes the estimates by the analysts have varied quite a bit;

the bottom line is this is really the first time that analysts and

investors have had to digest a high-grade uranium discovery in

the Athabasca Basin on a hole by hole basis. In the past these

deposits have been discovered by majors who usually do not

release any info until the size of the deposit has been defined.

Analyst and shareholders will get their first look at the size of

the Roughrider Zone when the 43-101 is complete this fall. In

the mean time the key is that we keep drilling and continue to

have success.

D.P: The one thing that there are no questions about is that the

grades are unbelievable. Some people have some trouble understanding

uranium grades but when it’s compared to gold it

hits home.

S.S: You’re exactly right, we have joked lately that from

now on we are going to release all our assays in gold equivalents

knowing if we did this the market would be shocked at

the grades! We have actually put together a slide in our presentation

that takes our individual assay intervals and shows

the gold equivalent. For example if you take hole #116,

which returned one of the highest uranium assays ever of

over 84% U3O8, the gold equivalent is more than 130 oz/

tonne; truly spectacular grades!

D.P: You had a presentation for analysts,and newsletter

writers a couple of weeks ago at the Saskatchewan research

council. I certainly heard many oohs and ahhs from some of

the analysts at that presentation.

S.S: We had a great trip to Saskatoon and up to the property,

with more than 34 people in attendance. This was the first

time Hathor has shown a 3-D model of the Roughrider Zone

to the investment community. We use the Saskatchewan Research

Council’s 3-D facility where you are able to put on a

pair of 3-D glasses and get an incredible view of how the

mineralization and alteration sits below the surface. It is a

very unique experience that allows you to see how the deposit

sits, how it is still open in every direction and how

there is significant potential to grow the size of the deposit; it

certainly does get a lot of oohs and ahhs.

D.P: What next for uranium prices seeing as this is a uranium

play?

S.S: The spot price has been increasing lately and that is a

trend most expect to continue, I think it is currently $52/lb.

The term price has stayed pretty solid in the $65 to $70 range

and this is the price that most industry people focus on as

almost 90% of all uranium trades are at the term price. Lowgrade

deposits are always under pressure when it comes to

the price of uranium. The great thing about a high grade deposit

in the Athabasca Basin is if the price of uranium is going

up or down “Grade is always King”.

D.P: It’s well-known out there that Hathor is for sale when

the price is right, the additional programs will probably add

potential one way or another in the meantime it’s always

been thought that AREVA and Cameco were the two obvious

buyers of the company or at least that’s what is thought.

S.S: I think we are in a very unique position as being the

only junior with a high-grade uranium deposit. If you want to

acquire a high-grade uranium deposit you currently have

only one choice, Hathor. The Roughrider Zone may sit only

11 km from AREVA’s McClean Lake Mill and 25km from

Cameco’s Rabbit Lake mill but that does not mean they are

the only two potential buyers. We have been pleasantly surprised

by the interest in Hathor and our Midwest NE project

by various groups that want to obtain a presence in the Athabasca

Basin and secure a high-grade uranium asset. The timing

of this is anyone’s guess but with our 43-101 due out this

fall I think a lot of these groups might just have the ammo

they have been waiting for to pull the trigger.

For now Hathor will keep aggressively drilling and looking

to increase & define the size of the Roughrider Zone. When

you are hitting 84% U3O8 the pounds can add up very

quickly and at the end of the day every additional pound will

go straight to the bottom line.

STANLEY’S STOCK SELECTION

When we asked Stanley for a stock pick, he actually suggests

physical Gold, and believes we will see gold at $1,200. 00 by

this Christmas.

FANTOMAS