Athabasca Resumes Delivery on 375,000 Tonne Gravel Contract
November 26, 2013
Edmonton, Alberta - November 26, 2013 - Athabasca Minerals Inc. (the "Corporation" or "Athabasca" - TSX Venture: ABM) is pleased to announce the resumption of gravel delivery to a regional customer from its Logan Aggregate Operation.
Through Q2 fiscal 2013, the Corporation delivered a total of 114,650 tonnes of a 375,000 tonne contract, at which time hauling had been interrupted primarily due to seasonal road conditions. Delivery and invoicing of the remaining 260,350 tonnes will resume in November 2013, and it is anticipated to be completed during Q2 of fiscal 2014. The gravel remaining to fulfill this contract has been processed and stockpiled, and in addition to the Kearl pit inventory forms part of the reported Q3 2013 aggregate inventory on hand. This stockpiled inventory to supply this contract is located both at the Logan pit and the Conklin stockpile site.
"Our strategy is to sustain and grow aggregate delivery from our 100% corporate-owned operations while minimizing seasonality challenges", says President and CEO Dom Kriangkum. "We are very pleased that with resumption of hauling on this significant contract, it also reinforces our continuing relationship with this major customer."
The Logan aggregate operation is located approximately 160 km south of Fort McMurray, and is currently a winter access only operation.
The Corporation maintains three corporate-owned aggregate operations; Logan, Kearl and House River. In addition, management continues to explore and identify new corporate-owned aggregate sources in close proximity to oil sands and infrastructure projects.
For further Information on Athabasca, please contact:
T: 403- 517-2270
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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.
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