Athabasca Reports Forecasted Demand for Aggregate in 2010 at 6.5 Million Tonnes
February 10, 2010
Edmonton, Alberta - February 10, 2010- Athabasca Minerals Inc. (the "Corporation" or "Athabasca" -- TSX Venture: ABM) today reported that for this fiscal year ending November 30, 2010, the Corporation has received preliminary orders of 6.5 million tonnes of sand and gravel. By comparison, in February 2009, the Corporation received orders for 6.3 million tonnes, with a subsequent order for 1.7 million tonnes in June 2009, of which delivery of 1.1 million tonnes was deferred, but final sales for the fiscal year ended November 30, 2009, totaled 6,804,007 tonnes.
"At this point our order book is very strong for 2010," said Dom Kriangkum, President and CEO of the Corporation. "As more large scale projects come on line, we could find new orders so that we could then surpass 2009's tonnage. Recent announcements from Canadian Natural Resources Ltd., Total and ConocoPhillips, and Husky Energy, support this thinking."
The Susan Lake Gravel Pit is approximately 3,750 hectares in size and the current area of development covers approximately 680 hectares 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 three major oil sands companies. It is the primary source of aggregates for a number of projects in northeastern Alberta.
About Athabasca Minerals Inc.
Athabasca Minerals Inc. is a resource Corporation involved in the management, exploration and development of aggregate projects in Canada. These activities include contract 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 and industries.
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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.