Hathor's Summer Expansion Drilling is Underway at Roughrider's Far East Zone

TSX-V: TAS
OTCQX:TASFF
FSE:G7K

VANCOUVER, June 7, 2011 /PRNewswire/ - Terra Ventures Inc. (TSX-V: TAS) is pleased to provide an update on the Midwest Northeast Uranium property in which Terra owns a 10% production carried interest. In a press release dated June 7, 2011, Hathor reported:

"Hathor Exploration Limited (HAT:TSX) is pleased to announce that the 2011 summer diamond drill program is underway at the Roughrider Uranium Deposit in the Athabasca Basin of northern Saskatchewan.

Two rigs are now on site and drilling has begun. The program will run for approximately 8 weeks, with some 7,000 metres of drilling planned. The drill program will be extended for as long as the mineralization at Far East remains open to the east.

Figure 1 shows an aerial view of the overall Roughrider uranium deposit. Figure 2 is a plan map of the current extent of mineralization at the East and Far East Zones, and the location of the diamond drill holes planned for the 2011 summer program. Far East is open to the east, from the eastern-most drill holes which contained the strongest replacement mineralization and produced the highest grade-thickness intersections, including 42.8 m at 3.26 % U3O8 in drill hole MWNE-11-698, and 51.0 m at 1.69 % U3O8 in drill hole MWNE-11-695 (Figure 3 and Figure 4).

The Roughrider Uranium Deposit is currently estimated to contain 58 Mlbs U308 in the East and West Zones, including 54 Mlbs U308 contained in approximately 212,000 tonnes of rock at an average grade of 12 % U308 (West Zone, SEDAR, January 14, 2011: 17.21 M lbs U308 Indicated; 10.60 M lbs U308 Inferred; East Zone, News Release, May 17. 2011: 30 M lbs U308 at 11.58 % U308 Inferred). The Roughrider System has not been fully tested. As shown in Figure 5, the Far East Zone, with 15 mineralized drill holes already, presents significant upside to the overall resource potential of the Roughrider Uranium Deposit. Further, as shown in Figure 6, the Midwest Trend, as defined by magnetic and resistivity surveys, has proven potential for additional deposits on the property based on results from 5 drill transects completed to date.

Midwest Northeast Property

The Midwest Northeast Property is located within the main uranium-producing eastern corridor of the Athabasca Basin. The Property comprises 3 mineral leases covering 598 ha. Infrastructure is excellent. The Property is connected to Highway 955 by a 6 km winter road. The property is 8.5 km north of the infrastructure centre of Points North and the Points North commercial airport, the main service hub for northeastern Saskatchewan. The Property is within 25 km of operating uranium mine, mill and tailings facilities established at Rabbit Lake and McClean Lake during the past 35 years of production in the Athabasca Basin.

Terra Ventures Inc. owns a qualified 10% interest in the largest claim on the Property, carried to the completion of a positive feasibility study and announcement of intent for commercial production. Terra and Hathor recently announced (May 9, 2011) a definitive Plan of Arrangement, which remains subject to a number of conditions including, but not limited to, receipt of all regulatory, court and shareholder approvals, that will result in consolidation of 100% ownership of the Roughrider uranium deposit.

Alistair McCready, Ph.D., P.Geo., Hathor's V.P. Exploration with responsibility for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo, Hathor's Chief Executive Officer, are Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the technical disclosure contained in this news release."

Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, prospective exploration projects and no risk carried interest projects - combined with technical expertise and management's fundraising ability - are the foundation for growth in the uranium business.

On behalf of the board of directors of

TERRA VENTURES INC.

"Gunther Roehlig"

Gunther Roehlig, President

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

For further particulars about Terra Ventures, please contact Ryan Johnson, Investor Relations, at 1-866-683-0911 or visit the Company's website at www.terrauranium.com.

SOURCE Terra Ventures Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED