Athabasca Q1 2013 Financial Results

Athabasca Minerals Inc. (the "Corporation" or "Athabasca") (TSX VENTURE:ABM) is
pleased to announce the filing of its Q1 financial results for the three months
ended February 28, 2013. Athabasca reports the following highlights from Q1
2013:




--  Record revenues in the amount of $6,683,396 compared with $3,629,619
    during Q1 2012, an increase of 84.1%; 
--  Record net aggregate sales from corporate-owned operations in the amount
    of $5,194,379 compared with $1,607,110 during Q1 2012, an increase of
    223.2%; 
--  More than 25% of a 375,000 tonne contract fulfilled from the Logan
    aggregate operation; 
--  Continued progress on developing its frac sand project area and progress
    with Alberta Government regarding permitting.



The Corporation continues to transition from primarily performing aggregate
management services to increasing its aggregate supply and services provided
from corporate-owned aggregate operations. Q1 2013 generated the highest single
quarter revenues in the Corporation's history, as Athabasca continues to grow
its business at corporate-owned operations. During this transition, the
Corporation experienced seasonal challenges related to aggregate delivery. The
Corporation has identified and addressed these issues and plans to continue to
expand corporate owned aggregate operations at new locations in addition to the
existing Logan, Kearl and House River aggregate operations.


Challenges encountered during the quarter resulted in the Corporation incurring
a net loss of $374,582 during Q1 2013. The loss was a result of reduced
aggregate management fees, increased aggregate operating expenses, and increased
non-cash expenses, including share-based compensation, depreciation,
amortization and depletion. Also included is a $284,274 valuation write down of
Athabasca's land use agreement held with a work camp provider.


At the Logan aggregate operation, approximately 90,000 tonnes of high quality
aggregates is to be delivered to the customer during Q2. An additional 188,000
tonnes of aggregates have been processed and stockpiled and will be delivered
during fall / winter 2013. Additional contracts for Logan aggregates will be
pursued, with potential delivery when seasonal conditions allow for production
and delivery.


At the Kearl aggregate operation, all Q4 2012 inventory gravel production was
sold in Q1, in addition to some sand sales. Crushing activity at Kearl
recommenced early in Q2 2013, with steady demand for Kearl crushed gravel
exceeding the current level of production.


The loss on the land use agreement takes into consideration a reduction during
the Corporation's first quarter in the level of monthly occupancy at the lodges,
and which is also anticipated to prevail in the near term. The work camp
provider has announced that it sees opportunities to remarket or reposition
these beds, as activity in the region from other operators remains strong. In
the future, the Corporation may write down or increase the carrying value of its
land use agreement, as is required under International Financial Reporting
Standards, which will consider actual and projected accommodation occupancy.


"Athabasca continues to see strong demand for aggregates in and around Fort
McMurray. As Athabasca continues to expand corporate- owned operations, we will
focus on continual improvement with operating efficiency, consistent with our
objective to maximize shareholder value." reported Dom Kriangkum, President &
CEO.


Q1 (Three months ended February 28, 2013 and February 29, 2012)



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                                  Q1 February 28, 2013  Q1 February 29, 2012
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Aggregate management fees         $          1,489,017 $           2,022,509
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Net aggregate sales               $          5,194,379 $           1,607,110
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Total revenue                     $          6,683,396 $           3,629,619
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Total aggregate tonnes sold           1,516,224 tonnes      1,966,979 tonnes
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Net (loss) income from aggregate                                            
 operations                       $           (146,786)$             784,408
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Net (loss) income (including                                                
 lodging land use agreement)      $           (374,582)$             784,408
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Basic (loss) income per common                                              
 share                            $             (0.013)$               0.029
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The complete financial statements for Athabasca for the three months ended
February 28, 2013 and Management's Discussion & Analysis for the same period are
available for viewing on the Corporation's website at www.athabascaminerals.com
(http://www.athabascaminerals.com) and on SEDAR at www.sedar.com
(http://www.sedar.com).


About Athabasca Minerals

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


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Boardmarker Group
Dean Stuart
403- 517-2270
dean@boardmarker.net
Aben Minerals (TSXV:ABM)
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