News Releases

Athabasca: Quarter 4 Aggregate Deliveries up 12.1 %

February 22, 2011

Edmonton, Alberta - February 22nd, 2011 - Athabasca Minerals Inc. (the "Corporation" or "Athabasca" - TSX Venture: ABM) is pleased to announce the aggregate sales number for the fourth quarter ending November 30th, 2010. These figures include both the Susan Lake and Poplar Creek Aggregate Operations.

Quarter 4 Aggregate Sales Volume
Period 2010 2009
September to November 2,952,056 2,633,371
Fiscal Year Aggregate Sales Volume 2010 2009
December to November 7,255,732 6,589,828
*All figures are in tonnes.

The Corporation previously announced on March 18, 2010 a forecast demand for fiscal year 2010 of 6.5 million tonnes of aggregates. Forecast demand was surpassed, with fourth quarter aggregate volume posting a 12.1% increase from the previous year's comparable quarter. For the full fiscal year, the company recognized a 10.1% improvement in aggregate volume over the prior year.

Athabasca continues to be the leader in the delivery of aggregates to the oil sands industry in Northern Alberta, and is entering a growth period in its identification and development of additional aggregate projects near major infrastructure projects. These projects include significant oil sands operations. Upon commencement of operation and delivery of aggregates, the Company will disclose any contracts entered into.

About Athabasca Minerals Inc.

Athabasca Minerals Inc. is a resource company involved in the management, exploration and development of aggregate projects in Canada. 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, Alberta. The Corporation's aim is to find and develop local sources of industrial minerals essential to the economic development of specific high growth regions.

For further information on Athabasca, please contact:

Dom Kriangkum, P. Eng
President & CEO
T: 780-465-5696

CHF Investor Relations
Robin Cook, Senior Account Manager
T: 416-868-1079 x 228

Boardmarker Group
Dean Stuart
T: 403-517-2270

Should you wish to receive the Corporation's news via email, please email and specify "Athabasca Minerals news" in the subject line.

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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