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Athabasca Minerals Together with Métis North Sand & Gravel Receives Notice of Award for 1 Million Tonnes of Filter Sand from AMI's Firebag and Kearl Resources

December 20, 2021

Edmonton, Alberta--(Newsfile Corp. - December 20, 2021) - Athabasca Minerals Inc. (TSXV: AMI) ("AMI" or the "Corporation") - is pleased to announce it has received, together with Métis North Sand & Gravel, a notice of Award ("Award") from a major oilsands operator to supply approximately 1 million tonnes (i.e. 992,300 tonnes) of filter sand in 2022 from AMI's Firebag and Kearl Resources located north of Ft. McMurray.

Dana Archibald, Chief Operating Officer of Athabasca Minerals Inc, says: "we are excited to work with the Fort McKay Métis Nation and its business enterprise, Métis North Sand & Gravel, and support their regional relationships with industry. Our Firebag and Kearl Resources are high-quality and satisfy the technical standards required for the filter-sand industrial application. Our subsidiary, TerraShift Engineering Ltd. will plan and manage geotechnical testing and production at site, while AMI RockChain will coordinate transportation solutions to customer destinations using its proprietary RockChainTM platform and trucking network. Our integrated supply-chain solution draws on AMI's divisional strengths and synergies for customer price advantage, and reinforces our commitment to the Fort McKay Métis Nation. This Award has a multi-million dollar valuation and scope which will be executed in 2022."

Crystal Young, Chief Executive Officer of McKay Métis Group (MMG) states: "We are pleased to work with Athabasca Minerals and obtain their support as MMG expands its business model and capabilities in the region. With our business enterprise, Métis North Sand & Gravel, our goals are to be a leading supplier of premium domestic aggregates in the Regional Municipality of Wood Buffalo, by offering quality products at attractive prices, and creating a positive economic footprint for our Nation. We are grateful for AMI's collaboration and support in helping us achieve these goals."

ABOUT ATHABASCA MINERALS INC.

Athabasca Minerals is an integrated group of companies capable of full life-cycle development and supply of aggregates and industrial minerals. The Corporation is comprised of the following business units:

  • AMI Aggregates division produces and sells aggregates out of its corporate pits and manages the Coffey Lake Public Pit on behalf of the Government of Alberta.
  • AMI Silica division (www.amisilica.com) is positioning to become a leading supplier of premium domestic silica sand with regional deposits located in Alberta and North-East BC and holds a 5-year purchase agreement with Shell Canada for the supply of proppant.
    • AMI Silica LLC is a 50%-owned subsidiary of the Corporation with JMAC Energy Services LLC that is operational in the United States, with a management contract and an announced acquisition with a major industrial corporation.
    • Privco1 & Privco2 are private Alberta corporations acquired by AMI with premium domestic sand holdings strategically located with respect to the Montney and Duvernay sedimentary basins. Privco2 supports the 'Prosvita Sand Project' (formerly called the Duvernay Sand Project) and AMI's development application for regulatory approval. The Prosvita Sand Project has engaged the business interest of an international corporation offering industrial synergies (power, utilities, industrial water, rail, environmental green benefits) and with whom negotiations are ongoing.
  • AMI RockChain division (www.amirockchain.com) is a midstream, technology-enabled business that deploys its proprietary RockChain™ digital platform, associated industry econometrics, supply-chain algorithms, quality-assurance & safety programs to bring customers integrated supply-delivery solutions of industrial minerals to industry, infrastructure and construction sectors.
    • TerraShift Engineering (www.terrashift.ca) was acquired by AMI RockChain in June 2020. TerraShift conducts resource exploration & development programs, regulatory engineering, mine operations planning, environmental reclamation and remediation, and compliance reporting for a growing customer base across Western Canada and Ontario. TerraShift is also the developer of its proprietary TerraMaps™ software.

For further information, please contact:
Cheryl Grue, Director of Corporate Affairs
Tel: 587-392-5862 / Email:

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.

FORWARD-LOOKING STATEMENTS

This news release contains certain statements or disclosures relating to Athabasca that are based on the expectations of its management as well as assumptions made by and information currently available to Athabasca which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Athabasca anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "would", "will", "anticipates", believes", "explores" and similar expressions.

Athabasca believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: a significant expansion in COVID-19 restricting or prohibiting the operation of the Athabasca's facilities or significantly impacting the Company's supply chain; the duration and extent of the relatively low global oil prices; general economic, market and business conditions including those in the event of an epidemic, natural disaster or other event; increased costs and expenses; reliance on industry partners; and certain other risks detailed from time to time in Athabasca's public disclosure documents including, without limitation, those risks identified in this news release, and in Athabasca's annual information form, copies of which are available on Athabasca's SEDAR profile at www.sedar.com. Moreover, the duration and impact of the COVID-19 pandemic is unknown at this time and it is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date hereof and the Corporation undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108128

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