Athabasca Nuclear Corporation Adopts Advance Notice Bylaw

CALGARY, ALBERTA--(Marketwired - Apr 15, 2014) - Athabasca Nuclear Corporation (TSX VENTURE:ASC) ("Athabasca Nuclear" or the "Corporation") announces the adoption of an advanced notice bylaw (the "Bylaw"). The Bylaw, as approved by the board of directors of the Corporation (the "Board"), includes, among other things, a provision that requires advance notice to the Corporation in circumstances where nominations of persons for election to the Board are made by shareholders of the Corporation other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Business Corporations Act (Alberta) (the "Act"); or (ii) shareholder proposal made pursuant to the provisions of the Act.

Among other things, the Bylaw fixes a deadline by which holders of record of common shares of Hyperion must submit director nominations to the Corporation prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to the Corporation for an effective nomination to occur. No person will be eligible for election as a director of the Corporation unless nominated in accordance with the provisions of the Bylaw.

In the case of an annual general meeting of shareholders, notice to the Corporation must be made not less than 30 nor more than 65 days prior to the date of the annual general meeting of shareholders; provided, however, that in the event that the annual general meeting of shareholders is to be held on a date that, is less than 50 days after the date (the "Notice Date") on which the first public announcement of the date of the annual meeting was made, notice by the nominating shareholder may be made not later than the close of business on the tenth (10^th) day following the Notice Date.

In the case of a special meeting (which is not also an annual general meeting) of shareholders called for the purpose of electing directors (whether or not called for other purposes), notice to the Corporation must be made not later than the close of business on the fifteenth (15^th) day following the day on which the first public announcement of the date of the special meeting of shareholders was made.

The Bylaw is effective immediately. At the next meeting of shareholders of the Corporation, shareholders will be asked to confirm and ratify the Bylaw.

The full text of the Bylaw will be posted under Athabasca Nuclear's SEDAR profile at www.sedar.com.

About Athabasca Nuclear Corporation

Athabasca Nuclear Corp. (TSX VENTURE:ASC) is a junior uranium exploration company focused on the exploration and advancement of its significant uranium portfolio in Saskatchewan, Canada including the Preston Uranium Project, Patterson Lake East, Botham Lake, Parry Lake, Martin River, Karras River and Spring uranium projects. For more information on each of these projects, please visit www.AthabascaNuclear.com.

Athabasca Nuclear is the Operator of the Western Athabasca Syndicate, a group exploration effort of a 287,130 hectare (709,513 acre) package of uranium properties which is the largest land position along the highly prospective margin of the Western Athabasca Basin controlled by a single group (the "Preston Uranium Project").

Ryan Kalt, Chief Executive Officer

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.

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