Athabasca Opens New Aggregate Operation in Northern Alberta
March 8, 2011
Edmonton, Alberta - March 8th, 2011 - Athabasca Minerals Inc. ("Athabasca" or the "Corporation") (TSX Venture: ABM) is pleased to announce it has received approval from the Government of Alberta to open the Kearl aggregate operation located approximately 60 km east of the Susan Lake aggregate operation near Fort McMurray, Alberta in the heart of the oil sands. This milestone development is key to the Corporation's growth strategy for supplying aggregates to oil sands operations. Construction will begin immediately on an all-weather road linking the aggregate operation to major oil sands operations surrounding the project area.
The Kearl aggregate operation will be fully controlled by Athabasca Minerals, enabling the Corporation to benefit from the full market value on all sales of aggregates, including processing and delivery.
Athabasca Minerals operates the Susan Lake and Poplar Creek aggregate operations which for the last fiscal year supplied 7.25 million tones of aggregates to oil sands companies located in Northern Alberta. The Corporation currently receives a per tonne fixed fee for managing Susan Lake and Poplar Creek.
On Behalf of the Management:
Dom Kriangkum, President & CEO
About Athabasca Minerals Inc.
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 Corporation also has industrial mineral land holdings in the vicinity of Fort McMurray and Peace River, Alberta. The Corporation's aim is to find and develop local sources of industrial minerals essential to the economic development of specific high growth regions.
For further information on Athabasca, please contact:
CHF Investor Relations
Robin Cook, Senior Account Manager
T: 416-868-1079 x 228
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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 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.