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Athabasca Minerals Inc. Files NI 43-101 Technical Report in Support of its Duvernay Premium Domestic Sand Project

November 6, 2019

November 6, 2019 EDMONTON, ALBERTA. Athabasca Minerals Inc. (“AMI” or the “Corporation”) (TSX Venture: ABM) is pleased to announce that it has filed its Technical Report prepared in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) for the White Rabbit Property associated with AMI’s Duvernay Premium Domestic Sand Project (“Duvernay Project”).

Subsequent to the Press Release dated September 10, 2019 outlining the findings of the NI 43-101 Technical Report for the White Rabbit Property, AMI has received Long-Term Conductivity and Permeability results from Stim-Lab, Inc. (“Stim-Lab”). The results received from Stim-Lab suggest high suitability for use as a hydraulic fracturing proppant and remain encouraging based on positive feedback from several potential customers. This reinforces AMI’s objective to provide local Canadian premium domestic sand.

A breakdown of the associated Permeability and Conductivity results are as follows:

PermeabilityMesh Sizes
30 / 50
Mesh
40 / 70
Mesh
40 / 140
Mesh
50 / 140
Mesh
70 / 140 Mesh
Permeability (Darcy) @ 2000 psi6936201813
Permeability (Darcy) @ 4000 psi532714149.4
Permeability (Darcy) @ 6000 psi35209.39.96.5
Permeability (Darcy) @ 8000 psi20125.66.44.2
      
ConductivityMesh Sizes
30 / 50
Mesh
40 / 70
Mesh
40 / 140
Mesh
50 / 140
Mesh
70 / 140 Mesh
Conductivity (md-ft) @ 2000 psi1285666360328243
Conductivity (md-ft) @ 4000 psi971501256251177
Conductivity (md-ft) @ 6000 psi622353167179120
Conductivity (md-ft) @ 8000 psi3522159811376

Further to the resource delineation program conducted in Q2-2019 that supports the NI 43-101, AMI completed in October-2019 six additional sonic core holes on the White Rabbit property, ranging from 55 feet to 63 feet in depth. This latest supplemental drilling enables AMI to advance its mine plan, facility design and plant location for an efficient integrated operation.

Also, in late October-2019, AMI completed its first phase of delineation drilling for its proposed Montney in-Basin Premium Sand Project. Subject to analysis of these phase-1 results, the Corporation will proceed with a second phase of delineation drilling and subsequently preparing a NI 43-101 Technical Report in the first half of 2020.

About Athabasca Minerals Inc. (AMI)

Athabasca Minerals Inc ( www.athabascaminerals.com), is an integrated group of companies focused on the aggregates and industrial minerals sectors, including resource development, aggregates marketing and midstream supply-logistics solutions. Business activities include aggregate production, sales and royalties from corporate-owned pits, management services of third-party pits, acquisitions of sand and gravel operations, and new venture development. Athabasca Minerals is the parent company of Aggregates Marketing Inc. (www.aggregatesmarketing.com) – a midstream technology-based business using its proprietary RockchainTM digital platform, associated algorithm and QA/QC services to provide cost-effective integrated supply /delivery solutions of industrial minerals to industry, and the construction sector. It is also the parent company of AMI Silica Inc. (www.amisilica.com) – a subsidiary positioning to become a leading supplier of premium domestic in-basin sand with regional deposits in Alberta and NE British Columbia. It is the joint venture owner of the Montney In-Basin and Duvernay Basin Frac Sand Projects.

Additionally, the Corporation has industrial mineral leases, such as those supporting AMI’s Richardson Quarry Project, that are strategically positioned for future development in industrial regions with historically and consistently high demand for aggregates.

For further information on AMI, please contact:
Jan Cerny, VP Corporate Development & Capital Markets
Tel: 403-818-8680 // Email: jan.cerny@athabascaminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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