Athabasca Minerals Announces Resignation of Director

Calgary, February 16, 2023 - Athabasca Minerals Inc. (TSXV: AMI) ("Athabasca" or the "Corporation"), announces today that Terrance Kutryk has resigned as a director of the Corporation.

Mr. Kutryk has served as a director for Athabasca Minerals Inc. since September 2019 and has provided valuable guidance and leadership throughout his tenure.

Athabasca's board of directors (the "Board") would like to thank Mr. Kutryk for his many contributions and wishes him every success in his future endeavors.

The Board will be evaluating alternatives with respect to appointing a new independent director to fill the vacancy.

ABOUT ATHABASCA MINERALS INC.

Athabasca Minerals is an integrated industrial minerals company focused on the production and delivery of frac sand to Canada and the United States. Athabasca also operates aggregate operations in Western Canada and maintains the largest platform for buying, selling and transporting of aggregates through its 100% owned technology platform, AMI RockChain.

For further information, please contact:

• Cheryl Grue, Director, Corporate Affairs
  Tel: 587-392-5862 / Email: cheryl.grue@athabascaminerals.com
  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains certain statements or disclosures relating to Athabasca that are based on the expectations of its management as well as assumptions made by and information currently available to Athabasca which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Athabasca anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the word "will" and similar expressions. Athabasca believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.

Readers are cautioned not to place undue reliance on these forward-looking statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update or revise any of the forward-looking statements, except as may be required by applicable securities laws.

Additional information on these and other factors that could affect the Corporation's operations and financial results are included in this news release and may be accessed under Athabasca's profile on SEDAR at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/155112