VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2008) - Terra Ventures Inc. (TSX VENTURE:TAS) is pleased to provide an exploration update on the Midwest NorthEast Uranium property in which Terra owns a 10% production carried interest. Hathor Exploration (TSX VENTURE:HAT) owns the remaining 90% in the property.

In a press release dated August 27, 2008, Hathor reports: "Hathor Exploration Limited (TSX VENTURE:HAT) is pleased to announce the first assay results from its summer drill program on the Roughrider Zone at the Midwest NorthEast property, northern Saskatchewan.

For a complete list of assay results for drill holes MWNE-08-30 through MWNE-08-32 and a drill hole location map, please visit Hathor's website at: www.hathor.ca. Highlights from U3O8 assayed core-length intervals(i) (using a 0.05% U3O8 cut-off grade) include:

Drill hole MWNE-08-30:

- 69 metres grading 2.33% U3O8, comprised of:

-- 49.0 metres grading 2.81% U3O8 from 332 to 381 m core length;

-- 6.0 metres grading 0.018% U3O8 from 381 to 387 m core length; and

-- 14.0 metres grading 1.68% U3O8 from 387 to 401 m core length

Within this overall core-length interval is a 9 metre interval grading 10.54% U3O8 that includes 2.5 m grading 31.20% U3O8.

Drill hole MWNE-08-31:

- 2.5 metres grading 1.35% U3O8 from 289 to 291.5 m core length

Drill hole MWNE-08-32:

- 6.5 metres grading 20.41% U3O8 from 318 to 324.5 m core length; and

- 16.0 metres grading 0.74% U3O8 from 328.5 to 344.5 m core length

The five highest individual core-interval(i) U3O8 assay results are:

Drill               From         To     Interval        U3O8
Hole                  (m)        (m)          (m)       (wt%)
MWNE-08-30         368.0      368.5          0.5        33.5
MWNE-08-30         369.0      369.5          0.5        47.7
MWNE-08-32         321.0      321.5          0.5        34.1
MWNE-08-32         323.5      324.0          0.5        58.2
MWNE-08-32         324.0      324.5          0.5        29.6

(i) The reader is cautioned that all intersections reported are down-hole, core-length intervals and true thickness of mineralization is yet to be determined.

Vertical depth to the unconformity is approximately 215 metres. High-grade uranium mineralization encountered in these drill holes occurs primarily in basement rocks that are a heterogeneous mix of variably clay-altered to clay-replaced pelitic gneiss, graphitic pelitic gneiss, granitic pegmatite and microgranite. In drill hole MWNE-08-30, a 6.5 m core-length interval of uranium mineralization grading 0.14% U3O8 was encountered at the unconformity.

All samples were analyzed for U3O8 at the geoanalytical laboratories of the Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan. The facilities used for the analysis operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The samples were analyzed using ISO/IEC 17025:2005-accredited U3O8 method. Laboratory method quality control included the insertion of certified reference materials applicable for the ranges of mineralization encountered. Repeat analyses were performed on every 20th sample. All repeat samples had good reproducibility. All samples are being analyzed for a suite of other elements including nickel, cobalt, copper and lead.

The Roughrider Zone was discovered in February, 2008 and initial U3O8 assay results for discovery hole MWNE-08-12 were released in Hathor's news release dated March 3, 2008. During the winter drill program, Hathor completed 10,654 metres in 29 NQ-sized, vertical and angled diamond drill holes on its 90-per-cent-owned Midwest NE property. Further U3O8 assay results, for the balance of the winter drill program, were released by Hathor on May 21, 2008.

Terra Ventures Inc. owns a 10-per-cent production carried interest in the Midwest NorthEast property.

Benjamin Ainsworth, PEng, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

Hathor continues to aggressively advance its portfolio of Athabasca region uranium exploration projects. This area accounts for approximately 25 per cent of the world's annual mine production of uranium. All of this production comes from unconformity-style uranium ore deposits, the highest-grade uranium ore deposits in the world."

Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, advanced stage projects and no risk carried interest projects - combined with technical expertise and management's fundraising ability - are the foundation for growth in the uranium business.

On behalf of the board of directors of TERRA VENTURES INC.

Gunther Roehlig, President & CEO

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

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