Gravel Pit Estimated Demand for 2009 at 6.3 million tonnes
February 19, 2009
Edmonton, Alberta - February 19, 2009 - Athabasca Minerals Inc. (the "Company" or "Athabasca" - TSX Venture: ABM) is pleased to announce that for the fiscal year ending November 30, 2009, the Company has received preliminary orders of 6.3 million tonnes of sand and gravel from existing customers. This amount is based on recent meetings with customers in the Athabasca oil sands area. For the fiscal year ended November 30, 2008, Aggregates Management Inc. (AMI) received preliminary orders for 6.8 million tonnes, but with actual sand and gravel supplied being a record 11.83 million tonnes. AMI was acquired by the Company effective June 30th, 2008.
"As part of our services as Pit Manager, we meet up with our customers during the months of January and February to project sand and gravel requirements for the rest of the year", said Dom Kriangkum, President and CEO of the Company, "By knowing the various types of materials required by our customers, we prepare the pit and designate each customer to the appropriate areas within the pit. In our busiest month last year, we had 11 mobile crushers and 4 concrete aggregate washing plants operating in the pit, producing a total of approximately 5,000 tonnes of processed sand and gravel every hour, 24 hours per day."
The Susan Lake Gravel 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. It is the primary source of aggregates for a number of projects in northeastern Alberta.
About Athabasca Minerals:
Athabasca Minerals Inc. is a resource company engaged in the management, exploration and development of industrial minerals in Canada. The Company's aim is to find and develop local sources of industrial minerals essential to the economic development of specific high growth regions. The Company has substantial land holdings in the vicinity of Fort McMurray, Alberta and Peace River, Alberta. Independent from its mineral exploration activities, the Company is also pursuing sand and gravel exploration and development projects throughout northern Alberta. These activities include contracts works, gravel pit management, new gravel development and acquisitions of sand and gravel operations.
On Behalf of the Board
Dom Kriangkum, President, CEO
For further information, please contact firstname.lastname@example.org or Dean Stuart, Boardmarker Group, at (403) 517-2270 E: email@example.com.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press 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.