Athabasca Minerals Inc.
TSX VENTURE : ABM

Athabasca Minerals Inc.

August 28, 2007 19:11 ET

Athabasca Minerals Inc. Announces Hire of a Chemical Engineer

EDMONTON, ALBERTA--(Marketwire - Aug. 28, 2007) - A multi-discipline professional has joined the management team of Athabasca Minerals Inc. (TSX VENTURE:ABM) to assist in determining the feasibility of a chemical manufacturing plant in the Fort McMurray area.

Narin Lee, who has a master's degree in chemical engineering from Mississippi State University in the U.S. as well as a master's degree in business administration from Thammasart University in Thailand, has more than 15 years experience in implementing new industrial projects, pioneering new markets, and establishing new business operations.

Athabasca Minerals continues to ramp up in preparation of moving beyond exploration and eventual mining to processing of the minerals that may be extracted from its permit property, and Mr. Lee is the latest professional to join the Company's team.

"We have the geologists who are evaluating the mineral potential of our permit lands, and now we have a chemical engineer who also has a business background to evaluate the production and market potential of chemical manufacturing," said Dom Kriangkum, P. Eng., President and CEO of Athabasca Minerals, adding that the Company wants to supply chemicals needed by oil sands companies by manufacturing the chemicals locally from raw materials like salt that are known to be in the Fort McMurray area. "There is no local producer who is doing this, so we believe there is a market for this service."

Mr. Lee will be involved in the selection of the production process and equipment. His finance background will be used to help identify the potential market and determine the feasibility of manufacturing the chemical production facility. This will include raising capital for the project implementation and construction.

Mr. Lee was hired as a project manager for Athabasca Minerals on August 1, 2007. Prior to this, he worked as the business development and project finance senior manager for billion-dollar conglomerate Soon Hua Seng Group of Companies in Thailand involved in various industries, producing pulp and paper, energy generation, and agricultural products. Additionally, he was a general manager for Advance Agro Public Company based in Vancouver where he explored the North American market for paper and related products. He was also a process/production engineer for American owned Data General Thailand where he transferred processes and production technologies from other factories world-wide to the Thailand factory.

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 and establishing itself as a major sand and gravel supplier in Alberta. These activities include contract works, gravel pit management, new gravel pit development and the acquisition of other sand and gravel operations.

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