Terra Ventures Inc. (TASFF: OTC Link) | Economic Assessment is Underway at Roughrider

Economic Assessment is Underway atRoughrider

 

 

Vancouver,June 22, 2011 - TerraVentures Inc. (TSX-V: TAS) is pleased to provide an update on the MidwestNortheast Uranium property in which Terra owns a 10% production carriedinterest. In a press release dated                 June 22, 2011Hathor reported:

 

“HathorExploration Limited (HAT:TSX) is pleased to announce that a formal economicassessment has been started for the Roughrider Uranium Deposit at its MidwestNortheast Property in the Athabasca Basin of northern Saskatchewan. 

 

Hathor hasinitiated an independent, NI 43-101 compliant Preliminary Assessment (“PA”) of the Roughrider UraniumDeposit.  The PA will evaluate, indetail, the economic viability of developing the deposit as it is currentlydefined, and express the viability in the form of a net-present-value analysis(NPV).  The study will be authored by SRKConsulting (Canada) Inc. Completion is expected in approximately fourmonths.  The first working group meetingwas held June 16, 2011, and a site visit for the full working group is plannedfor June 27, 2011.

 

Environmentalbaseline work is being conducted in parallel with the PA.  Fieldwork began in lateMay, and will be ongoing throughout 2011. 

 

A detailedworking knowledge of Roughrider geological models and resources, as announcedon November 30, 2010, for the West Zone and on May 17, 2011, for the East Zoneprovide the foundation for the PA.  The attributes of Roughrider, includinglocation, size, grade, depth, recovery and ore composition are expected toprovide for a robust model; the attached previously released figures highlightsome of the key attributes. 

 

Midwest Northeast Property

 

The Midwest Northeast Property is located within the mainuranium-producing eastern corridor of the Athabasca Basin. The Propertycomprises 3 mineral leases covering 598 ha. Infrastructure is excellent. The Property is connected to Highway 955 bya 6 km winter road.  The property is 8.5km north of the infrastructure centre of Points North and the Points Northcommercial airport, the main service hub for northeastern Saskatchewan.  The Property is within 25 km of operatinguranium mine, mill and tailings facilities established at Rabbit Lake andMcClean Lake during the past 35 years of production in the Athabasca. 

 

TerraVentures Inc. owns a qualified 10% interest in the largest lease, carried tothe completion of a positive feasibility study and announcement of intent forcommercial production.  Terra and Hathorrecently announced (May 9, 2011) a definitive Plan of Arrangement, whichremains subject to a number of conditions including, but not limited to,receipt of all regulatory, court and shareholder approvals, and will result inconsolidation of 100% ownership of the Roughrider uranium deposit.

 

AlistairMcCready, Ph.D., P.Geo., Hathor’s V.P. Exploration with responsibility for allof Hathor’s exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo,Hathor’s Chief Executive Officer, are Qualified Persons as defined by NationalInstrument 43-101 and have reviewed and approved the technical disclosurecontained in this news release.” 

 

 

Terra Ventures is a junior exploration company focusedon acquiring and developing quality uranium projects which have world classpotential. The Company is dedicated to building shareholder value by acquiringstrategic uranium properties in this period of strengthening global demand foruranium supply. The Company’s combination of strategic land positions, prospectiveexploration projects and no risk carried interest projects – combined withtechnical expertise and management’s fundraising ability – are the foundationfor growth in the uranium business.

Forfurther particulars about Terra Ventures, please contact Ryan Johnson, InvestorRelations, at 1-866-683-0911 or visit the Company’s website at www.terrauranium.com.

On behalf of the board of directors of

TERRA VENTURES INC.

“Gunther Roehlig”

Gunther Roehlig, President

Neitherthe TSX Venture Exchange nor its regulation services provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.

ThisNews Release contains forward-looking statements. Forward-looking statementsare statements which relate to future events. In some cases, you can identifyforward-looking statements by terminology such as “may”, “should”, “expects”,“plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or“continue” or the negative of these terms or other comparable terminology.These statements are only predictions and involve known and unknown risks,uncertainties and other factors that may cause our or our industry’s actualresults, levels of activity, performance or achievements to be materiallydifferent from any future results, levels of activity, performance orachievements expressed or implied by these forward-looking statements. Whilethese forward-looking statements, and any assumptions upon which they arebased, are made in good faith and reflect our current judgment regarding thedirection of our business, actual results will almost always vary, sometimesmaterially, from any estimates, predictions, projections, assumptions or otherfuture performance suggested herein. Except as required by applicable law, theCompany does not intend to update any of the forward-looking statements toconform these statements to actual results.

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