Hathor Exploration* (HAT : TSX : $4.05), Net Change: -0.03, % Change: -0.74%, Volume: 2,239,626

Comments from the corner office. In an interview with Mining Weekly, Hathor CEO Mike Gunning commented on the recent results from the Far East Zone, and the possibility of other white knights bidding for the company. Gunning stated that the results from the Far East Zone are keys for him. “The zone is turning out to have great thickness values far above our expectations,” he said, adding, “My expectations for Far East have completely changed. I do believe it has the potential to rival the other two zones.” Mining Weekly highlighted that Hathor had been planning on releasing a resource statement on the Far

East Zone by Christmas, but the hostile bid (from Cameco (CCO)) has spurred it to try to get this out before the offer expires at the end of October. On the white knight front, Gunning wouldn't say how many companies he has been talking to, but says the list contains major mining firms and Asian utilities. “Those numerous discussions are extensive, and they’re moving quickly,” Gunning commented. “Virtually every major company in the industry and most utilities have been under CA, have been to Saskatoon and many have been to the property. There is not a better undeveloped uranium asset in the world, and there is not a more important uranium district than the Athabasca basin,” Gunning stated. Furthermore, he said one of these major mining

firms had even informally approached him in May last year regarding a potential acquisition, but he told the company he did not want to talk about deals until the PEA had been released. On Tuesday, Hathor released another set of impressive assay results from its 2011 summer drill program at the Far East Zone. The highlight intersection from drill hole MWNE-11-715 was 27.0 m of 7.91% U3O8, including 3.5 m of 41.77% U3O8. Additionally, assays are still pending for two drill holes from the Far East Zone, including MWNE-11-718, which intersected a total of 17.30 m of off-scale radioactivity; the greatest amount of off-scale

radioactivity within a single drill hole at Far East.