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 July 13, 2010, Hathor reported:
"Hathor Exploration Limited (HAT:TSX-V) is pleased to provide an update of its current exploration plans for the Athabasca Basin, the premier exploration district in the world for high grade uranium deposits.
Drilling has commenced on the Midwest Northeast Property. Three rigs are on site; two are turning, with the third, on barge, slated to start on July 16h, as per DFO regulations. Figure 1 highlights where the drilling will focus this summer. The barge rig will continue delineation drilling on the Roughrider deposit, and complete several reconnaissance holes in “the gap” between it and Roughrider East. One rig will complete infill drilling at the recently discovered Roughrider East Deposit, and test for extensions to the east. The third rig will test the resistivity anomaly running southwestward from Roughrider East, along the Midwest Trend, as shown in Figure 6 on the previous News Release dated 29June2010.
The three month program will end in late September, as dictated by environmental conditions. The summer program is budgeted at approximately $6 million.
Terra Ventures Inc. owns a qualified 10 per cent interest in the Midwest Northeast property, carried until a production decision is made based on a feasibility study.
Alistair McCready, Ph.D., P.Geo., Hathor's Exploration Manager with responsibility for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo, Hathor's Chief Operating 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, advanced stage 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.
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.
On behalf of the board of directors of
TERRA VENTURES INC.
Gunther Roehlig, President