News Releases

Athabasca Minerals Announces Closing of New Credit Facilities

June 14, 2012

Edmonton, Alberta - June 14, 2012 - Athabasca Minerals Inc. (the "Corporation" or "Athabasca" - TSX Venture: ABM) is pleased to announce the closing of its new credit facilities with a major Canadian bank in the amount of $10 million, pursuant to commitment letters executed in March 2012.

The new financing arrangements include $4,000,000 of term debt proceeds which were used to retire callable debt plus accrued interest totaling approximately $2,968,000 with the Corporation's prior lender, and provides approximately $1,032,000 in additional working capital.

Under the new credit facilities, a lease financing component is available for the acquisition of $3,000,000 of capital expenditures. Subsequent to the Corporation's February 29, 2012 first quarter, the Corporation purchased machinery and equipment totaling approximately $1,995,000 to be used primarily at the Susan Lake pit. None of the purchases were financed, as all were paid from operating cash. It is expected these machinery and equipment purchases will qualify for a lease financing, which would result in a near term reimbursement to the Corporation of approximately $2,095,000.

As well under the new credit facilities, a $3,000,000 margin-based, revolving operating line of credit is available, which will be utilized to secure $1,353,000 of existing letters of credit, as well as to provide access to remaining operating line of credit available to finance the Corporation's working capital requirements.

The Corporation's term debt bears interest at bank prime plus 1.75% and the operating loan bears interest at bank prime plus 1%, except for the letters of credit issued from the operating loan that will bear interest at 2.5% over the bank's prime lending rate. The lease facility will bear a fixed rate of interest, to be determined at time of lease funding, with a current rate of 4.15%.

The term debt and the lease loan will be repaid over a four and five year period, respectively. A maturity date does not apply to the operating line of credit.

About Athabasca

Athabasca is a resource company involved in the management, exploration and development of aggregate projects. These activities include contracts work, 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, 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:

Boardmarker Group

Dean Stuart
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.

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