Athabasca Potash Inc.

Athabasca Potash Inc.

March 03, 2009 08:20 ET

Athabasca Potash Inc. Has Engaged Thyssen Mining for Shaft, Hoist & Headframe Studies

SASKATOON, SASKATCHEWAN--(Marketwire - March 3, 2009) - Athabasca Potash Inc. ("Athabasca" or the "Company") (TSX:API) is pleased to announce that Thyssen Mining ("TMCC") has been awarded the contract for the shaft, hoist and headframe sections of the pre-feasibility study ("the Study") being undertaken on the Company's Burr Project.

TMCC is a leading North American mining contractor and part of the Thyssen Group, one of the world's most experienced shaft sinking contractors in the potash industry. Thyssen Group has completed more than 300 shaft sinking projects globally, including nine of the fourteen operating potash shafts in Saskatchewan. The Thyssen Group is currently completing four shaft sinking projects in three different countries, including a new service shaft at the PCS Rocanville Mine in Saskatchewan and a potash production shaft in Volgograd, Russia.

"Thyssen is a world leader in potash shaft sinking and we are pleased to be working with such a competent and experienced team" said Dawn Zhou, President and CEO. The scope of the shaft and hoist work for the Study will include the preliminary design and cost estimation of the shafts, head frames, hoists and all related material handling and control systems.

Please see the Company's press release dated January 22, 2009 for details regarding the selection of the preferred shaft and mill site location for the Burr Project. For additional information regarding the Burr Project please see the National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant technical report entitled NI 43-101 Technical Report for a Resource Estimation on the Burr Project, Athabasca Potash Inc., Saskatchewan, Canada, available at or

About Athabasca:

Athabasca Potash Inc. is a Canadian based corporation and was founded with a goal of establishing itself as a pre-eminent Canadian public company engaged solely in potash exploration and development, and to provide its shareholders with a unique investment opportunity focused entirely on potash.

Caution Regarding Forward-Looking Information

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of certain securities laws. This includes statements concerning Athabasca's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Athabasca, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, exploration risks, lack of historic drill hole documentation, challenges or impairments to title, the negotiation of access to certain potash mineralization, permit requirements, governmental regulations, aboriginal land use, environmental risks and competition in attracting and retaining personnel. In addition, forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Athabasca undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

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