Athabasca Minerals Inc.
TSX VENTURE : ABM

Athabasca Minerals Inc.

April 29, 2010 09:01 ET

Athabasca Minerals Inc.: First Quarter Results

EDMONTON, ALBERTA--(Marketwire - April 29, 2010) - Athabasca Minerals Inc. (the "Corporation" or "Athabasca") (TSX VENTURE:ABM) is pleased to announce the filing of its first quarter financial results for the period ending February 28, 2010.

During the first quarter 2010, the Corporation generated revenue in the amount of $1,086,134, compared to $1,016,822 for the previous year's first quarter ending February 28, 2009. The Corporation had a loss of $147,269 for the first quarter which is a decrease in loss of $122,019 from the previous year's comparable period. On an earnings per share basis, the Corporation incurred a loss of $0.01, versus the previous year's comparable period being a loss of $0.01.

The Corporation is impacted by seasonality in the construction industry, and typically the first quarter is the slowest quarter for the year. For the first quarter, aggregates removed from its aggregate operations at Susan Lake and Poplar Creek was up 4.93 % from the previous year's period ending February 28, 2009.

Dom Kriangkum, President and CEO states, "The Corporation continues to be the leader in aggregate deliveries to the oil sands industry, and is executing its business plan through the recent approval for two additional aggregate operations in northern Alberta. We are on track to deliver our forecasted amount of 6.5 million tonnes for the fiscal year ending November 30th, 2010, and expect to be producing from our Logan's River and Pelican Hill aggregate operations prior to year end. As our aggregate delivery grows, we intend to continue our exploration efforts on additional aggregate deposits and industrial minerals.

The complete financial statements for Athabasca Minerals for the period ending February 28, 2010 and the Management Discussion and Analysis for the same period are available for viewing on SEDAR.

About Athabasca Minerals Inc.

Athabasca Minerals Inc. is a resource company involved in the management, exploration and development of aggregate projects in Canada. These activities include contracts works, aggregate pit management, new aggregate development and acquisitions of sand and gravel operations. The Corporation also has industrial mineral land holdings in the vicinity of Fort McMurray and Peace River, Alberta. The Corporation's aim is to find and develop local sources of industrial minerals essential to the economic development of specific high growth regions.

Should you wish to receive the Corporation's news via email, please email chelsea@chfir.com and specify "Athabasca Minerals news" in the subject line.

This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Corporation. The forward-looking statements or information contained in this news release are made as of the date hereof and the Corporation does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

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