News Releases

Athabasca Announces Granting of Stock Options 2009

September 29, 2009

Edmonton, Alberta - September 29, 2009 - Athabasca Minerals Inc. ("Athabasca" or the "Company" - TSX Venture: ABM) announces that its Board of Directors has approved the granting of 800,000 stock options to the Company's directors, officers and consultants, subject to regulatory and TSX Venture Exchange approval. The options were issued with an exercise price of $0.25 per share, vest as to one-third (1/3) on each of the first three anniversaries of the date the respective option agreements were executed and have a five year term. Pursuant to applicable securities legislation the options are subject to a four month hold period.

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.

Further Information:

For further information, please contact or Dean Stuart, Boardmarker Group, at (403) 517-2270 E:

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.