News Releases

Athabasca Minerals Inc. hires new Chief Financial Officer

January 30, 2007

Edmonton, Alberta -- January 30, 2007 -- Athabasca Minerals Inc. ("Athabasca" or the "Company") (TSX Venture: ABM) is pleased to announce the appointment of Mr. Allan Rowswell as Chief Financial Officer of the Company. Mr. Rowswell is a chartered accountant with over 30 years experience in accounting and is a member of the Alberta Institute of Chartered Accountants.

Mr. Rowswell takes over from Mr. Tom Lloyd, who has resigned as Chief Financial Officer due to other business pressure but will continue as an advisory role to the management of the Company. Athabasca thanks Mr. Lloyd for his contribution and service to the Company. 

About Athabasca

Athabasca is a junior mineral exploration company that has a vision to become a major supplier of chemicals and construction materials to the oil sands industry. The Company holds Alberta Metallic and Industrial Minerals Permits on approximately 581,000 hectares to the south, west and east of the city of Fort McMurray. The Company is currently focused on exploring and developing industrial minerals such as limestone, salt, gypsum, and silica sand that serve as raw materials for the chemicals and construction materials used in oil sands operations. This new development will be a major locally based secondary industry in the Fort McMurray region. It will boost the already exploding local economy with lower cost products that will enhance the development and bitumen recovery of the oil sands.

In addition to developing minerals resources, Athabasca will continue to explore and develop sand and gravel deposits in Northern Alberta. These are vital resources to the construction industry, especially in the oil sands industry where substantial amounts of sand and gravel are required for plant sites construction and mine roads.

For further information, please contact Dom Kriangkum, P.Eng., President and CEO of Athabasca Minerals Inc. at (780) 465 5696.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Such assumptions include, among other things, statements regarding potential mineralization, sand and gravel deposits, resources and reserves, exploration results, research and development results, and future plans and objectives of Athabasca. Although Athabasca believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on such forward looking statements because Athabasca cannot give assurance that such expectations will prove to be correct. 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 and described in the forward-looking statements or information. The forward-looking statements or information contained in this news release are made as of the date hereof and Athabasca 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to any U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.