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

NEWS RELEASE

$6,000,000 BROKERED PRIVATE PLACEMENT

Vancouver, B.C., November 4, 2008: Stephen G. Stanley, the President of Hathor Exploration Limited (HAT: TSX-V, the "Company"), announces that the Company has negotiated a brokered private placement for gross proceeds of up to $6,000,050 with a syndicate of brokers (the ?Agents?) led by Salman Partners Inc., wherein the Agents will use their best efforts to sell up to 1,935,500 flow-through common shares (?FT Shares?) at $3.10 per FT Share in the capital stock of the Company. 

The Company has granted to the Agents an over-allotment option (the ?Over-Allotment Option?), exercisable at any time prior to the closing, to increase the gross proceeds from the sale of FT Shares by up to an additional $2,002,600.

The Agents will receive a cash commission on the sale of the FT Shares representing 5.5% of the gross proceeds.  The Company will also issue share purchase warrants to the Agents on closing (the ?Agents? Warrants?) entitling the Agents to purchase additional common shares equal in number to 5.5% of the aggregate number of FT Shares sold, including the Over-Allotment Option.  The Agents? Warrants will entitle the Agents to purchase common shares at the price of $3.10 per common share for a period of 24 months following the closing.

In accordance with securities legislation currently in effect, the FT Shares will be subject to ?hold period? of four months plus one day from the date of closing.

The proceeds of the private placement transaction will be used to fund further exploration of the Company?s Midwest Northeast uranium property, Saskatchewan, and other exploration properties.

                                                                        HATHOR EXPLORATION LIMITED

                                                                        Per:

                                                                                 ?Stephen G. Stanley?                                        

                                                                                 Stephen G. Stanley, President

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ?U.S. Securities Act?) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cheers,

Natasha Dutra, Office Manager

Hathor Exploration Limited

Suite 1910 - 925 West Georgia St.

Vancouver, BC V6C 3L2

T 604-684-6707

F 604-684-9277

www.hathor.ca