Kearl

The Kearl pit is located 105 kilometers north-east of Fort McMurray. During March 2011 Athabasca received SML approval from the Government of Alberta to develop an open pit aggregate operation for a term of ten years. The Corporation completed construction of an all-weather road linking the Kearl aggregate operation to several major oil sands operations so the Corporation can sell product year-round.

The quality of the aggregate is suitable for road and infrastructure construction and ongoing maintenance. This pit is situated in close proximity to existing oil sands development and continues to be a major source of aggregate supply in the region.

The Kearl pit has a National Instrument 43-101 technical report (effective February 15, 2012) disclosing an indicated resource of 3,770,330 tonnes of gravel and 7,636,390 tonnes sand, and an inferred resource of 434,000 tonnes gravel. This report can be viewed on SEDAR.

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