News Releases

Athabasca Minerals to Proceed with Normal Course Issuer Bid 2010

June 29, 2010

Edmonton, Alberta, June 29, 2010 - Athabasca Minerals Inc. (the "Corporation" or "Athabasca"- TSX Venture: ABM) announces that it has obtained regulatory approval to proceed with a normal course issuer bid whereby Athabasca may purchase up to a total of 1,398,908 common shares representing approximately 5% of the common shares currently issued and outstanding (27,978,165 shares were outstanding as at May 30, 2010). It is expected that the normal course issuer bid will commence on July 5, 2010 and terminate on July 5, 2011. All acquisitions of common shares by Athabasca pursuant to the bid will be made through the facilities of TSX Venture Exchange Inc. at the market price. Athabasca is making a bid to stabilize the trading price and provide liquidity in the market for its common shares.

Purchases on behalf of Athabasca will be made by Mackie Research Capital Corporation, 335, 8th Avenue S.W. Suite 1550, Calgary, AB - T2P 1C9.

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 Please Contact info@athabascaminerals.com or:

CHF Investor Relations
Robin Cook, Senior Account Manager
T: 416 868 1079 x 228
E: robin@chfir.com

Boardmarker Group
Dean Stuart
T: 403 517-2270
E: dean@boardmarker.net

Should you wish to receive the Corporation's news via email, please email chelsea@chfir.com and specify "Athabasca Minerals" in the subject line.

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.

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