News Releases

Athabasca Provides Operations Update

November 6, 2012

Edmonton, Alberta - November 6, 2012 - Athabasca Minerals Inc. ("Athabasca" or the "Corporation" - TSX Venture: ABM) is pleased to announce that Athabasca has entered into a contract with a major oil sands company to supply, process and deliver 375,000 tonnes of aggregate from the Corporate owned Logan pit, which is approximately 160 km south of Fort McMurray and is winter haul only. Hauling will commence in December 2012, and to be completed during March 2013.

"Being awarded a significant contract to supply gravel from the Logan Pit is received at a favorable time for the Corporation, as we look ahead to our new fiscal year beginning in December." said Dom Kriangkum, President and CEO of Athabasca. "Logan will be our third corporate owned pit that will be brought into production over the past twelve months. The Logan Pit is well situated to service many oil sands projects in the Conklin area." Kriangkum further stated that "The award of the Logan pit contract is a result of the steps that we are taking to actively grow Athabasca."

About Athabasca Minerals

Athabasca 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 Company 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.

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.

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