Athabasca Announces Appointment of New Chief Financial Officer
Edmonton, Alberta -- August 13, 2008 -- Athabasca Minerals Inc. (TSX Venture: ABM) (the "Company") is pleased to announce the appointment of Mr. Kevin Spitzmacher, CA, CFA, CIM as Chief Financial Officer of the Company subject to approval of the TSX Venture Exchange. Mr. Spitzmacher is a chartered accountant with more than 20 years experience in the accounting profession and is a member of the Alberta Institute of Chartered Accountants. He also holds the chartered financial analyst and Canadian investment manager designations.
Mr. Spitzmacher brings extensive regulatory and financing experience to the Company. His previous positions include six years with the Alberta Securities Commission and five years with a mid market corporate finance firm. Mr. Spitzmacher's regulatory experience combined with the experience in corporate finance, including mergers, acquisitions and financing transactions, will assist Athabasca Minerals Inc. in executing its business plan and continuing its corporate growth.
"We are very excited to have Kevin join our management team as we move towards the completion of the acquisition of Aggregates Management Inc. (AMI). Kevin's background will assist with the Company's plan to become a major supplier of aggregates." said Dom Kriangkum, President and CEO of the Company.
Mr. Spitzmacher takes over from Mr. Allan Rowswell, who has resigned as Chief Financial Officer due to other commitments but will continue in an advisory role to the management of the Company. Athabasca thanks Mr. Rowswell for his contribution and service to the Company.
The Company has granted to Mr. Spitzmacher 240,000 options at an exercise price of $0.40. These options are exercisable for a period of five (5) years and are subject to regulatory approval.
About Athabasca Minerals:
Athabasca Minerals Inc. is a resource company engaged in the management, exploration and development of industrial minerals in Canada. The Company's aim is to find and develop local sources of industrial minerals essential to the economic development of specific high growth regions. The Company has substantial land holdings in the vicinity of Fort McMurray, Alberta and Peace River, Alberta. Independent from its mineral exploration activities, the Company is also pursuing sand and gravel exploration and development projects throughout northern Alberta. These activities include contracts works, gravel pit management, new gravel development and acquisitions of sand and gravel operations.
For further information, please contact Dom Kriangkum, P.Eng., President and CEO of Athabasca Minerals Inc. at E: moc.slarenimacsabahta@ofni or Dean Stuart, Boardmarker Group, at (403) 517-2270 E: ten.rekramdraob@naed.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press 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 Athabasca Minerals. The forward-looking statements or information contained in this news release are made as of the date hereof and Athabasca Minerals 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.