TAS Terra Ventures

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Hathor Exploration Limited (TSX:HAT) ("Hathor") and Terra Ventures Inc. (TSX
VENTURE:TAS) ("Terra") are pleased to announce that at a special meeting of
Terra shareholders held on August 2, 2011 in Vancouver, British Columbia (the
"Meeting"), the Terra shareholders voted, by special resolution, to approve the
proposed plan of arrangement with Hathor (the "Arrangement").


In total, 104 Terra shareholders representing a total of 25,741,027 shares,
representing 41.56% of Terra's issued and outstanding shares were represented by
proxy or in person at the Meeting. There were a total of 24,392,707 Terra shares
that were voted to approve the Arrangement, representing 95.9% of all of the
votes attached to the Terra shares cast by shareholders, present in person or
represented by proxy, at the Meeting. 


James Hutton, Terra's chairman notes, "The overwhelming positive endorsement
from Terra's shareholders supports the value and synergies of this Arrangement."


The Arrangement consolidates a 100% interest in both the Roughrider uranium
deposit and the large and prospective Russell Lake exploration project, located
at either end, respectively, of the prolific eastern corridor of the Athabasca
Basin.


Both companies believe this consolidation of property ownership will create
value to a degree not possible for either company to achieve on its own. Hathor
shareholders are expected to realize full value for the mineral resource
potential of the Roughrider deposit as it grows. Terra shareholders are expected
to benefit more from full participation in Roughrider and in all of Hathor's
other properties, including Russell Lake.


Hathor and Terra believe the combination of the two companies is a natural
progression in the ongoing advancement of the Roughrider uranium deposit. This
consolidation compliments and builds on the recent expansion and strengthening
of Hathor's expert uranium exploration and management teams, the conversion of
the Roughrider mineral claim to mineral lease, and the graduation of Hathor from
the TSX Venture Exchange to a full listing on the Toronto Stock Exchange.


Michael Gunning, Hathor's President & CEO comments, "The consolidation of the
ownership of the Roughrider deposit will strengthen our company and provide a
greater opportunity to maximize value for our shareholders."


For details of the Arrangement, please see Terra's management information
circular dated June 30, 2011 and Terra and Hathor's joint press releases dated
April 18, 2011, May 9, 2011 and July 7, 2011, all having been filed on Terra and
Hathor's respective profiles on SEDAR at www.sedar.com. On completion of the
Arrangement, Terra's shareholders will hold approximately 10% of the pro forma
outstanding shares of Hathor, on a fully-diluted basis.


Terra's application to the Supreme Court of British Columbia to obtain the final
court order approving the Arrangement is scheduled for Thursday, August 4, 2011.
Assuming court approval is obtained and that all other conditions to the
Arrangement are satisfied or waived, the Arrangement is expected to become
effective on or before August 11, 2011.


About Hathor

Hathor is a publicly-traded mineral exploration company listed on the Toronto
Stock Exchange trading under the symbol HAT. Hathor is focused on uranium
exploration in the Athabasca Basin region of Saskatchewan and Alberta. The
Athabasca Basin is the pre-eminent exploration district in the world for high
grade uranium, and for the past 30 years has been responsible for between 20 and
30% of global annual uranium mine production. Hathor's Roughrider uranium
deposit is within the northern part of the main uranium-producing eastern
corridor of the Athabasca Basin. The property has been converted from mineral
claim to mineral lease, and following the discovery in 2008, Hathor continues to
drill, update and optimize the overall resource potential of three different
mineral zones identified to date. Terra owns a 10% interest in the largest claim
on the property containing the entire deposit known to date, carried to the
completion of a positive feasibility study and announcement of intent for
commercial production. Hathor's exploration pipeline behind Roughrider is
highlighted by the 74,000 ha Russell Lake property located in the southern
portion of the eastern corridor of the Basin. The property has numerous early
stage targets in various stages of development and testing. Terra owns an 8%
interest in the Russell Lake South property, carried to the completion of a
positive feasibility study and announcement of intent for commercial production.



About Terra

Terra is a junior exploration company focused on acquiring and developing
quality uranium projects which have world class potential. Terra is listed on
the TSX Venture Exchange under the symbol TAS. Terra's principal property
interests currently consist of an interest or option in the Roughrider uranium
deposit, South Russell project, and the Wheeler River area properties, all of
which are in Saskatchewan's Athabasca Basin. With respect to Wheeler River,
Terra has an option to earn up to a 95% interest in this prospect which adjoins
the Wheeler River property of Denison Mines Corp. (60%) and Cameco Corp. (30%).
Terra is currently carrying on its exploration program of the Wheeler River
property, to include drilling in the normal course of business. Terra also holds
a 10% production carried interest in 34 claims held by Titan Uranium Inc. in
seven separate projects located in the southwestern and northeastern parts of
the Athabasca Basin, Saskatchewan.


None of the securities anticipated to be issued under the plan of arrangement
have been or will be registered under the Securities Act of 1933, as amended, or
any state securities laws, and such securities are anticipated to be issued in
the United States pursuant to exemptions from such registration requirements.
This press release shall not constitute an offer to sell or solicitation of an
offer to buy any securities in any jurisdiction where such an offer or sale
would be unlawful.


Forward Looking Information

This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation, including information relating to
Hathor or Terra's future financial or operating performance may be deemed
"forward looking" or the anticipated date for the closing of the Arrangement.
All statements in this news release, other than statements of historical fact,
that address events or developments that Hathor or Terra expects to occur, are
"forward-looking statements". Forward-looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "does not expect", "plans", "anticipates", "does not anticipate",
"believes", "intends", "estimates", "projects", "potential", "scheduled",
"forecast", "budget" and similar expressions, or that events or conditions
"will", "would", "may", "could", "should" or "might" occur. All such
forward-looking statements are based on the opinions and estimates of the
relevant management as of the date such statements are made and are subject to
important risk factors and uncertainties, many of which are beyond Hathor or
Terra's ability to control or predict. Forward-looking statements are
necessarily based on estimates and assumptions (including that the Arrangement
will be completed successfully on the terms agreed upon by the parties and that
the business of Terra will be integrated successfully into the Hathor
organization) that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause actual results, level of
activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking statements. 


In the case of Hathor and Terra, these facts include their anticipated
operations in future periods, planned exploration and development of its
properties, anticipated date for the closing of the Arrangement, and plans
related to its business and other matters that may occur in the future. This
information relates to analyses and other information that is based on
expectations of future performance and planned work programs. Statements
concerning mineral resource estimates may also be deemed to constitute
forward-looking information to the extent that they involve estimates of the
mineralization that will be encountered if a mineral property is developed.
Forward-looking information is subject to a variety of known and unknown risks,
uncertainties and other factors which could cause actual events or results to
differ from those expressed or implied by the forward-looking information,
including, without limitation: exploration hazards and risks; risks related to
exploration and development of natural resource properties; uncertainty in
Hathor's ability to obtain funding; uranium price fluctuations; recent market
events and conditions; risks related to the uncertainty of mineral resource
calculations and the inclusion of inferred mineral resources in economic
estimation; risks related to governmental regulations; risks related to
obtaining necessary licenses and permits; risks related to their business being
subject to environmental laws and regulations; risks related to their mineral
properties being subject to prior unregistered agreements, transfers, or claims
and other defects in title; risks relating to competition from larger companies
with greater financial and technical resources; risks relating to the inability
to meet financial obligations under agreements to which they are a party;
ability to recruit and retain qualified personnel; and risks related to their
directors and officers becoming associated with other natural resource companies
which may give rise to conflicts of interests. 


This list is not exhaustive of the factors that may affect Hathor or Terra's
forward-looking information. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described in the forward-looking information.
Hathor and Terra's forward-looking information is based on the reasonable
beliefs, expectations and opinions of their respective management on the date
the statements are made and neither Hathor nor Terra assumes any obligation to
update forward-looking information if circumstances or management's beliefs,
expectations or opinions change, except as required by law. For the reasons set
forth above, investors should not place undue reliance on forward-looking
information. For a complete discussion, please refer to Hathor's Annual
Information Form, its audited financial statements and MD&A for the year ended
March 31, 2011 and Terra's audited financial statements and MD&A for the year
ended February 28, 2011, all of which is filed on SEDAR at www.sedar.com.

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