MERGER: Cameco ups Hathor offer to $4.50/share, all cash

SASKATOON - Cameco Corp. has raised its offer for Hathor Exploration to $4.50 per Hathor share, 8.4% above the $4.15/share offer made by Rio Tinto last October and 20% above Cameco's initial bid of $3.75/share in August 2011. The most recent offer suggests a Hathor value of $625.5 million.

Hathor's main asset is the Roughrider uranium deposit, estimated to contain indicated and inferred resources with 57.9 million lb of uranium oxide. The deposit is located 25 km northwest of Cameco's Rabbit Lake mill.

Cameco has extended its offer to Nov. 29, 2011. Hathor shareholders can call Kingsdale Shareholder Services at 416-867-2272 or 888-518-1552 (toll free) or email contactus@KingsdaleShareholder.com.