Athabasca Minerals Appointment of New Chairman

EDMONTON, ALBERTA--(Marketwired - Feb. 3, 2016) - Athabasca Minerals Inc. ("Athabasca" or the "Corporation") (TSX VENTURE:ABM) is pleased to announce Mr. Don Paulencu, ICD.D, has been appointed Chairman of the Board. Mr. Paulencu was employed at Deloitte LLP for 39 years, and served as audit partner for the past 31 years. Mr. Paulencu served in many leadership capacities in the Edmonton office including office managing partner for 10 years, and has provided audit, accounting, tax and advisory services to both public and private companies. Mr. Paulencu has also served as audit partner for several public corporations in a variety of industries.

The Corporation also announces the resignation of Mr. Peter Elzinga as a director and Chairman due to health reasons. The Corporation wishes to thank Mr. Elzinga for his time and efforts during his tenure at Athabasca, and wishes him well in the future.

About Athabasca Minerals

The Corporation is a resource company involved in the management, exploration and development of aggregate and silica sand projects. These activities include contracts works, aggregate pit management, aggregate production and sales from corporate-owned pits, new aggregate development and acquisitions of sand and gravel operations, and development and supply of frac sand for Western Canada. The Corporation also has industrial mineral land holdings for the purpose of locating and developing sources of industrial minerals and aggregates essential to high growth economic development.

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.