Athabasca Receives Positive Frac Sand Test Results
March 10, 2015
Edmonton, Alberta -- March 10, 2015 - Athabasca Minerals Inc. ("Athabasca" or the "Corporation" - TSX Venture: ABM) is pleased to announce that it has received additional test results from its Firebag Project silica sand after attrition scrubbing. Attrition scrubbing, a beneficiation process that occurs in the wash plant, removes impurities such as carbonates, silts and clay particles, ensuring a more consistent higher quality product. Attrition scrubbing, simulating actual plant processing, was performed by FL Smidth and Co., of Midvale, Utah, a leading supplier of equipment and services to the minerals industry. Following the attrition scrubbing, the samples were sent to Stim-Lab Inc. of Duncan, Oklahoma for further testing.
These results, together with test results previously announced on June 10th, 2011, July 28th, 2011 and September 23rd, 2014, provide positive confirmation that the Corporation's Firebag Project silica sand is suitable for use as proppants in hydraulic fracturing.
Post attrition scrubbing results are summarized in the following table:
Stim-Lab Inc. Post Attrition Scrubbing Test Results
| || ||Size Fraction|
|Roundness||³ 0.6 ||0.7||0.6||0.7||0.6|
|£ 2 % for 20/40 and 30/50|
£ 3 % 40/70 and 70/140
|Turbidity||£ 250 NTU||3||5||5||15|
|Crush Resistance|| maximum stress K Value without exceeding 10% crush, rounded up to the nearest 1,000 psi = K Value||5K||7K||8K||8K|
"These test results confirm high quality silica sand suitable for frac sand utilization in Western Canada." said Dom Kriangkum, President and CEO of Athabasca. "As expected, improvements were observed in the post scrubbing results. Athabasca remains committed to the continued development of the Firebag Project with production of a high quality proppants in 2016."
The Corporation is also pleased to announce it has filed the Preliminary Economic Assessment ("PEA") for the Firebag Project on SEDAR and posted on the corporate website. The Firebag Project is located 95 km north of Fort McMurray, Alberta and is 100% percent owned by the Corporation. Athabasca announced the results of the PEA on February 12, 2015, which shows that the Firebag Project has considerable potential for development as a frac sand resource, which includes the potential for a large, highly economical deposit with high margin, rapid payback and 25 years of open pit mining.
About Athabasca Minerals
The Corporation is a resource company involved in the management, exploration and development of aggregate and silica sand projects. These activities include contracts works, aggregate pit management, aggregate production and sales from corporate-owned pits, new aggregate development and acquisitions of sand and gravel operations, and development and supply of frac sand for Western Canada. The Corporation also has industrial mineral land holdings for the purpose of locating and developing sources of industrial minerals and aggregates essential to high growth economic development.
For further Information on Athabasca, please contact:
T: 403- 517-2270
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.
The securities of Athabasca have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.