Hathor Exploration Limited - $15,000,000 Over-subscribed Bought Deal
Flow-Through Financing Closes

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, March 22 /CNW/ - Hathor Exploration Limited (TSXV:HAT) ("Hathor" or the "Company") is pleased to announce that the Company has closed an over-subscribed underwritten bought deal private placement with a syndicate of underwriters led by Canaccord Financial Ltd. and Salman Partners Inc. and including Dundee Securities Corporation, Mackie Research Capital Corporation and Raymond James Ltd. and (the "Underwriters"), previously announced on March 8, 2010.

A total of 6,250,000 flow-through shares of the Company (the "Flow-Through Shares") were sold at a price of CDN$2.40 to raise CDN$15,000,000, on a bought deal private placement basis (the "Offering").

The Underwriters received a cash commission on the sale of the Flow-Through Shares representing 5.5% of the gross proceeds raised, and 343,749 broker warrants ("Broker Warrants"). Each Broker Warrant shall be exercisable for one common share of the Company at a price of CDN$3.00 at any time up to 24 months after closing.

The Company intends to use the net proceeds of the Offering to conduct exploration activities on their Athabasca Basin uranium projects.

The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

    
    Hathor Exploration Limited
    Stephen G. Stanley, Director
    

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Company are forward-looking statements that involve various certain risks and uncertainties. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals, risks inherent in the mineral exploration and production industry, and other risks detailed herein and in the preliminary prospectus and from time to time in the filings made by the Company with securities regulators, most of which filings are available at www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

SOURCE HATHOR EXPLORATION LIMITED

For further information: For further information: on Hathor, please visit the company's website: www.hathor.ca or contact Tony Nunziata at (403) 560-7040 or JJ Jennex at (604) 684-6707

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HATHOR EXPLORATION LIMITED

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