Sand and Gravel Demand up 45% in Q1
March 24, 2009
Edmonton, Alberta - March 24, 2009 - Athabasca Minerals Inc. (the "Company" or "Athabasca" - TSX Venture: ABM) is pleased to announce a 45% increase in the volume of aggregates supplied from its Susan Lake gravel pit during the first quarter of the fiscal year. This gravel was supplied to infrastructure and oil sands projects in northeastern Alberta and demonstrated delivery of 768,532 tonnes of sand and gravel beginning December 1st, 2008 and ending February 28th, 2009.
Gravel Delivery for First Quarter
Note: All figures are in tonnes
The Susan Lake gravel pit produced 11.83 million tonnes of sand and gravel for the fiscal year ending November 30th, 2008. The Susan Lake gravel pit is one of the largest operations of its kind in Canada and continues to be the primary supply of sand and gravel for a number of projects located in northeastern Alberta. 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. In previous years, gravel delivery begins to increase in the second quarter with peak demand taking place in the third and fourth quarters. A new monthly record was set in September 2008, during which the Company supplied a total of 2.1 million tonnes of sand and gravel.
The Company continues to identify and investigate sand and gravel operations in Canada and the United States with a focus on projects located near infrastructure projects such as road construction.
The Company encourages investors and shareholders to visit the Company web site for new photos and information on its operations at the Susan Lake gravel pit, the Poplar Creek gravel pit and in the Wood Buffalo region of northeastern Alberta. Exploration programs aimed at identifying additional industrial minerals such as gypsum, salt and silica sand have taken place over the last two years with continued exploration and development planned for 2009.
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 email@example.com or Dean Stuart, Boardmarker Group, at (403) 517-2270 E: firstname.lastname@example.org.
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.