Hole 116: 2.5 Metres Grading 70.34% U3O8 / #10-200: 22.5 Metres Grading 11.3% U3O8 / #30: 69 metres grading 2.33% U3O8 / #10-188B: 7.5 metres grading 29.98% U3O8

ATHABASCA BASIN: WHERE GRADE IS KING!

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Message: Possible reasons for sell-off

Possible reasons for sell-off

posted on Mar 02, 2009 11:19AM

1. Step-out drilling returned NO mineralization !

Six other drill holes (MWNE-09-45; 09-46; 09-49; 09-50; 09-54 and 09-58A) were drilled in three fences located approximately 40 m, 100 m and 550 m southwest of the Roughrider Zone. Although no mineralization was intersected by this preliminary drilling, further holes are warranted to adequately test these targets.

2. Infill results "only good to average" for HAT "standards" / 1 in-fill drill hole with NO mineralization

Ten of the 16 drill holes were in-fill, grid-drilling that targeted the Roughrider Zone. Nine of these holes intersected uranium mineralization.

"Blue sky potential" is somewhat reduced by these results.

For optimistic approach you´ll have to wait for more step-out results that will be positive, hopefully !

FANTOMAS

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