Athabasca Minerals Inc.
TSX VENTURE : ABM

Athabasca Minerals Inc.

July 09, 2007 11:49 ET

Athabasca Announces an Update to Its Aggregates Properties and the Opening of a New Office in Fort McMurray

EDMONTON, ALBERTA--(Marketwire - July 9, 2007) - Athabasca Minerals Inc. (TSX VENTURE:ABM) is pleased to announce that it has signed a multi-year agreement with a private pit operator in the Grimshaw area to take over the pit operation and marketing of gravel in northwest Alberta. Athabasca Minerals had originally entered into an option agreement with the pit owner in April 2007 and conducted a testing program to evaluate the quantity and the quality of this pit in late April. Test results show that this pit contains high quality gravel suitable for concrete, asphalt, and road base aggregates.

With total estimated tonnage exceeding 10 million tonnes of high-grade gravel, this deposit has the potential to become a major source of sand and gravel in the Peace River region. This region has potential for significant growth given the recent activities in the Peace River Oil Sands development, combined with conventional oil and gas activities, pipeline corridors, forestry and agriculture.

Due to the anticipated scope of work in the Fort McMurray area, Athabasca Minerals is pleased to announce that it will be opening a new office in the heart of Fort McMurray in July 2007. This office will serve as the center of the Fort McMurray operations. Athabasca Minerals is also pleased to announce the appointment of Mr. Mark McCallum, TT, as the new office manager in Fort McMurray. Prior to joining Athabasca, Mr. McCallum was a labour market development manager for the Metis Nation of Alberta Labour Market Development Unit in Fort McMurray. He is a graduate Civil Engineering Technology Program at NAIT, and he brings with him extensive experience in planning, negotiation, organization and project management as well as communication and business development.

Mr. Wylie Hamilton, P.Eng., Vice President, Chief Geologist is identified as Athabasca Minerals's qualified person for this news release.

About Athabasca Minerals:

Athabasca Minerals Inc. is an innovative exploration company formed to explore for mineral resources other than oil, gas and oil sands in northeast Alberta. The company's aim is to find and develop local sources of the minerals essential to the economic development of the region (i.e. minerals used in oil sand processing, construction, and in the everyday requirements of community living). The company's permit holdings of 710,023 hectares in the vicinity of Fort McMurray, Alberta have exploration prospects for an assortment of industrial minerals including salt, silica sand, gypsum, limestone, and diamonds.

Independent from its mineral exploration activities, the company is also pursuing sand and gravel exploration and development projects throughout northern Alberta. These activities include contract works, gravel pit management, new gravel pit development and the acquisition of other sand and gravel operations.

Further Information:

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 Athabasca Minerals. The forward-looking statements or information contained in this news release are made as of the date hereof and Athabasca Minerals 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Athabasca Minerals Inc.
    Dom Kriangkum, P.Eng.
    President and CEO
    (780) 465-5696
    or
    Athabasca Minerals Inc.
    Mike Rousseau
    Consultant
    (403) 816-1947