News Releases

Athabasca Minerals Inc. announces Appointment to Management Team and Corporate Re-organization

March 5, 2012

Edmonton, Alberta March 5, 2012 - Athabasca Minerals Inc. (the "Corporation" or "Athabasca" - TSX Venture: ABM) is pleased to announce the appointment of Mr. Brian Hudson, P. Geol to the newly formed position of Vice-President Mineral Development effective March 1, 2012. Mr. Hudson will be instrumental in the development of the Firebag Frac Sand deposit located north of Fort McMurray and other industrial mineral deposits being developed by the Corporation. In addition to communication with regulatory bodies concerning industrial mineral projects, he will provide additional expertise in implementing development strategies. Athabasca management is pleased to welcome Mr. Hudson to its team, and looks forward to his contribution in the continuing development of the Corporation and its business strategy.

Mr. Hudson was previously employed as Branch Head, Coal and Mineral Development with the Alberta Department of Energy, and was responsible for all activities related to the suite of minerals that included coal, metallic and industrial minerals. Mr. Hudson was with the Department of Energy for 25 years. Mr. Hudson received his Bachelor of Science degree (Geological Sciences) from Queen's University (1973). He is a member of APEGGA - Professional Geologist (Alberta) and Calgary Minerals Exploration Group Society.

In addition to the appointment of Mr. Hudson, the Corporation has made the following role reclassifications within its existing management team.

Mr. Shaun O'Connor-Parsons's role within the Corporation has been reclassified from Vice-President Exploration and Marketing to Vice-President Business Development. Mr. Dale Nolan's role within the Corporation has been reclassified from Vice-President Operations to Vice-President Corporate Affairs. The reclassifications reflect changes in related responsibilities as the Corporation pursues its corporate growth objectives.

About Athabasca Minerals Inc.

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

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.

Reader Advisory

This press release contains forward-looking statements. More particularly, this press release contains statements concerning the Corporation's future operations. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Athabasca, including with respect to the Corporation's future operations. Although Athabasca believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Athabasca can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the mining industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Athabasca undertakes no 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. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

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