Athabasca Minerals Inc.

Athabasca Minerals Inc.

August 24, 2011 09:40 ET

Athabasca Minerals Receives Approval for Two Additional Aggregate Projects in Northern Alberta

EDMONTON, ALBERTA--(Marketwire - Aug. 24, 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 two (2) additional aggregate projects located in close proximity to oil sands and infrastructure projects in Northern Alberta. The Surface Mineral Leases ("SML's") granted are for the House River aggregate project located southwest of Fort McMurray in the Wood Buffalo region and Pelican Hill aggregate project in the Wabasca area north of Slave Lake.

The House River Aggregate Project will be a winter haul only operation, and is located 11 km east of highway 63. The location is ideally suited to supply aggregates for the Highway 63 twinning project.

The Pelican Hill Aggregate Project is located approximately 70 km southeast of the Hamlet of Wabasca, and will be suitable for a year round operation.

These additional aggregate projects will complement the existing aggregate operations at Susan Lake and Poplar Creek, and aggregate projects located at Kearl and Logan. All aggregate operations and projects are located in Northern Alberta near oil sands and infrastructure activities.

About Athabasca Minerals Inc.

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.

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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.

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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