3rd Quarter Aggregate Delivery up 86% from 2nd Quarter
September 16, 2009
Edmonton, Alberta - September 16, 2009 - Athabasca Minerals Inc. (the "Company" or "Athabasca" - TSX Venture: ABM) is pleased to announce aggregate delivery from the Susan Lake Aggregate Pit and the Poplar Creek Aggregate Pit for the 3rd quarter ending August 31st, 2009. These results reflect the seasonality of the aggregate business, as peak delivery occurs in the 3rd and 4th quarters of the company's fiscal year ending November 30. The Company is on track to meet its projected delivery target of 8 million tonnes for fiscal year 2009.
Gravel Delivery for Third Quarter
Note: All figures are in tonnes
President Dom Kriangkum states; "With the recovery in the price of oil and the commencement of key oil sand project infrastructure, the Susan Lake and the Poplar Creek Aggregate Pits are positioned to continue delivery of aggregates required for projects in the Fort McMurray region. The activities in the Susan Lake Aggregate Pit have increased significantly since the beginning of September as various projects are scheduled to be completed before the winter season. Our aggregate pits can be expanded to provide aggregate 24/7, and we remain the primary supplier of aggregate to regional construction and oil sands companies."
The Susan Lake Aggregate Pit is the largest operation of its kind in Canada and continues to be the primary supply of sand and gravel for a number of projects located in northeastern Alberta. The aggregate pit is approximately 9,262 acres in size and the current area of development covers approximately 1,200 acres of the deposit. The pit is situated in the heart of the existing oil sands developments, approximately 85 km north of Fort McMurray, and straddles the oil sands operations of 3 major oil sands companies. In previous years, gravel delivery begins to increase in the second quarter with peak demand taking place in the third and fourth quarters.
The Company continues to identify and investigate sand and gravel operations in Canada and the United States with a focus on projects located near infrastructure projects such as road construction. The Company recently entered into a letter of intent to acquire a 25% interest in a major aggregate project in Washington State, USA.
About Athabasca Minerals:
Athabasca Minerals Inc. is a resource company involved in the management, exploration and development of aggregate projects in Canada. These activities include contracts works, aggregate pit management, new aggregate development and acquisitions of sand and gravel operations. The Company also has industrial mineral land holdings in the vicinity of Fort McMurray and Peace River, Alberta. The Company's aim is to find and develop local sources of industrial minerals essential to the economic development of specific high growth regions.
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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.
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.