MERGER: Rio Tinto ups bid, Hathor says okay

VANCOUVER - The bidding war for Hathor Exploration and its Roughrider uranium property in northern Saskatchewan appears to be nearing the end. Rio Tinto has raised its all-cash offer to $4.70 per Hathor share, $0.20 more than Cameco of Saskatoon offered earlier this week. Rio's latest offer values Hathor at roughly $654 million.

The directors of Hathor have unanimously recommended that shareholders take up the Rio Tinto offer. It will remain open until 5:00 pm (Toronto time) on Nov. 30, 2011, unless extended or withdrawn.

More information is also available at the Hathor website, www.Hathor.ca. Shareholders with additional questions should contact Hathor's information agent, Phoenix Advisory Partners, at 800-243-1162.