MERGER: Hathor rejects Cameco offer

VANCOUVER - The board of Hathor Exploration has unanimously rejected the unsolicited takeover bid from Cameco of Saskatoon. The special committee examining the offer noted that Hathor shares have been trading above the offer price, and therefore the Cameco offer is inadequate.

The directors' circular containing the recommendation and the detailed reasons are available at www.Hathor.ca and www.SEDAR.com.