Athabasca Minerals Inc.

Athabasca Minerals Inc.

February 22, 2010 09:00 ET

Athabasca to Open New Aggregate Operation at Logan River

EDMONTON, ALBERTA--(Marketwire - Feb. 22, 2010) - Athabasca Minerals Inc. ("Athabasca" or the "Corporation") (TSX VENTURE:ABM) is pleased to announce it has received approval from the Government of Alberta to open an aggregate operation near Logan River, Alberta, located approximately 160 km south of Fort McMurray for sand and gravel.

"The Logan River discovery is a significant find by the Corporation's exploration team. This is their first discovery that puts the Corporation on a new road to develop as an Owner-Operator – it's a major milestone," explained President Dom Kriangkum. "We look forward to announcing more discoveries based on new findings from exploration programs across our portfolio of Surface Material Exploration permitted areas."

The 80-acre Logan River lease is believed to contain significant amounts of aggregate materials suitable for widespread use in construction and oil sands activities. The Corporation expects to have an independent report to determine the quantity of aggregates available completed, compliant with National Instrument 43-101, later this year.

Each of the more than one dozen samples collected from Logan River were inspected for grading, plasticity, gravel shape, surface texture and deleterious material characteristics in compliance with test method TLT-113/02, "Standard Practice for Identification and Description of Aggregate Prospects (Visual-Manual Procedure)", and sieve analysis was conducted on the samples in accordance with test method ATT-25/96, "Sieve Analysis, 80,000 um Minus."

The results of the laboratory analysis conducted by DK Engineering of Edmonton indicate the material is suitable for use as a sub-base, base course or asphalt concrete aggregate material.

Access to the Logan River Gravel Pit is provided via an existing county road that runs through the site, and the Corporation expects to supply sand and gravel primarily to oil sands and government infrastructure projects in the area.

The Corporation has applied for aggregate exploration leases for nearly 20 other sites in northeastern Alberta. We expect to complete the exploration program this year.

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.

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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.

Contact Information

  • CHF Investor Relations
    Robin Cook
    Senior Account Manager
    (416) 868-1079 x 228
    CHF Investor Relations
    Catarina Cerqueira
    Associate Account Manager
    (416) 868-1079x 251
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    Dean Stuart
    (403) 517-2270