Athabasca Minerals announces Susan Lake Renewal Management Contract Expiry & Overholding Tenancy Status

EDMONTON, Alberta, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Athabasca Minerals Inc. ("Athabasca" or the "Corporation") (TSX-V:ABM) announces that its 10-year Susan Lake Renewal Management Contract (the ?Contract') with the Province of Alberta expired on November 30^th, 2017. A meeting with Alberta Environment and Parks ("AEP"), by whom the Contract is administered, was held on December 1, 2017, and resulted with instruction to Athabasca to continue its operations in the near term with ?overholding tenancy' status until the Closure Plan for Susan Lake gravel pit is approved by AEP.

According to AEP, subject to Closure Plan approval, a new disposition is expected to follow by early January 2018 that will enable Athabasca time next year to decommission Susan Lake gravel pit operations, manage the removal of remaining aggregate stockpiles, and transition the site back to the Province for oilsands mining thereafter.

The Corporation will issue an ensuing announcement with details of the impending new disposition to close the Susan Lake gravel pit, once received.

About Athabasca Minerals

The Corporation is a resource company involved in the management, exploration and development of aggregate 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. 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.

For further Information on Athabasca, please contact:

Dean Stuart
T: 403 617 7609
E: [email protected]

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