Athabasca Potash Inc.
TSX : API

Athabasca Potash Inc.

August 06, 2008 08:30 ET

Athabasca Potash Inc. Makes Progress in Land Acquisition Program and Additional Exploration Permits

SASKATOON, SASKATCHEWAN--(Marketwire - Aug. 6, 2008) - Athabasca Potash Inc. ("Athabasca" or the "Company") (TSX:API) continues to make significant progress on its Burr Project acquisition program, including surface lands, crown mineral rights and freehold mineral rights.

Athabasca has acquired approximately 5,420 acres of surface lands in the central parts of its Burr Project. These surface rights give Athabasca the full access to the lands to do the necessary exploration, testing and site study programs currently in progress.

Athabasca has also obtained recent approval from Saskatchewan Ministry of Energy and Resources to amend Exploration Permit KP308 to KP308A, also known as the Burr Project. This amendment allows for approximately 3,020 acres of additional crown rights on the south central portion of the Burr Project to be included within the permit. Athabasca also has acquired approximately 640 acres of freehold mineral rights within the area of the Burr Project, which is in addition to the approximately 1,279 acres of freehold mineral rights purchased in 2007. As a result, the total area of the Burr Project held by Athabasca is now approximately 79,946 acres, an increase from the previously announced size of approximately 75,007 acres.

"We are very pleased with the progress we are making in our acquisition program on our Burr Project. It puts Athabasca in a good position for the next steps planned to advance our Burr Project" said Dawn Zhou, Athabasca's President and Chief Executive Officer.

In addition to the Burr Projects land and mineral rights acquisition program, Athabasca has also obtained approval for a number of additional potash exploration permits in Saskatchewan. Athabasca now holds a 100% interest in 23 potash exploration permits totalling approximately 1,673,103 million acres of lands for prospective potash exploration. The additional permits approved by Saskatchewan Ministry of Energy and Resources include KP 348, KP 349, KP350, KP351, and KP 359.

About Athabasca:

Athabasca Potash Inc. is a Canadian based corporation and was founded with a goal of establishing itself as a pre-eminent Canadian public company engaged solely in potash exploration and development, and to provide its shareholders with a unique investment opportunity focused entirely on potash.

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