Athabasca Minerals Inc.
TSX VENTURE : ABM

Athabasca Minerals Inc.

August 31, 2011 14:00 ET

Athabasca Minerals Receives Approval for Salt Leases in Northern Alberta

EDMONTON, ALBERTA--(Marketwire - Aug. 31, 2011) - Athabasca Minerals Inc. ("Athabasca" or the "Corporation") (TSX VENTURE:ABM) is pleased to announce it has received approval from the Government of Alberta for Metallic and Industrial Mineral Leases totaling 5,835.5 hectares referred to by the Corporation as the "Boyle Salt Project". These leases are strategically located near potential end users of salt products including caustic soda and sodium carbonate ("soda ash"), and are located near rail, roadways, power and water resources.

The Boyle Salt Project is located approximately 35 km north of the village of Boyle, Alberta. To date, the Corporation has identified a salt formation in this region, which may be suitable feedstock for a chlor-alkali chemical plant to provide products to the chemical, pulp and paper and the oil sands industry. Salt caverns resulting from salt mining may be utilized for housing industrial waste products.

The Corporation intends to review its alternatives for development of this significant asset over the next 6 months.

About Athabasca

Athabasca Minerals Inc. is a resource company involved in the management, exploration and development of aggregate projects. These activities include contracts work, 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, for the purpose of locating and developing sources of industrial minerals and aggregates essential to high growth economic development.

On Behalf of Management

Dom Kriangkum, President and CEO

Should you wish to receive the Corporation's news via email, please email lauren@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.

The securities of Athabasca have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

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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