Athabasca Announces Closing of Bought Deal Private Placement for Aggregate Gross Proceeds of $5.75 Million

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES.

Athabasca Minerals Inc. (the "Corporation" or "Athabasca") (TSX VENTURE:ABM) is
pleased to announce the closing of its previously announced bought deal private
placement offering (the "Offering") of units of the Corporation ("Units") with
Primary Capital Inc. ("Primary") acting as underwriter. Pursuant to the
Offering, including the full exercise of the over-allotment option granted to
Primary, the Corporation issued 3,965,517 Units at a price of $1.45 per Unit,
for aggregate gross proceeds of $5,750,000. 


Each Unit consists of one common share in the capital of the Corporation (a
"Common Share") and one-half of one common share purchase warrant (a "Warrant").
Each whole Warrant entitles the holder to acquire one Common Share at a price of
$1.75 per share for a period of two years from the date of the closing of the
Offering.


The net proceeds raised from the Offering are expected to be used for upcoming
capital expenditures on new and existing assets, as well as potential growth
initiatives and general working capital purposes. Growth initiatives include
future drilling and resource development at the Corporation's Richardson Project
as well as the development of the Firebag Silica Project.


Primary was paid a cash commission equal to 6% of the aggregate gross proceeds
of the Offering and was granted 237,931 options (the "Agent's Options"), with
each such Agent's Option entitling the holder to acquire one Common Share at a
price of $1.45 per share for a period of two years from the date of the closing
of the Offering.


Pursuant to applicable securities laws, all securities issued pursuant to the
Offering will be subject to a statutory hold period which expires on May 15,
2014. 


About Athabasca Minerals 

Athabasca Minerals Inc. is a resource company involved in the management,
exploration and development of aggregate projects. These activities include
contract work, aggregate pit management, new aggregate development and
acquisitions of sand and gravel deposits. The Corporation also has industrial
mineral land holdings in Northeast Alberta for the purpose of locating and
developing sources of industrial minerals and aggregates essential to high
growth development of the energy and infrastructure sectors.


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 press release contains forward-looking statements. More particularly, this
press release contains statements concerning the expected use of proceeds. The
forward-looking statements contained in this document are based on certain key
expectations and assumptions made by the Corporation. Although the Corporation
believes that the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be placed on the
forward-looking statements because the Corporation can give no assurance that
they will prove to be correct. Since forward-looking statements address future
events and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not
limited to, the failure to obtain necessary regulatory approvals, the risk that
the transactions described herein are delayed or are not completed. The
forward-looking statements contained in this document are made as of the date
hereof and The Corporation undertakes no 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 (mailto: dean@boardmarker.net)
www.athabascaminerals.com

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