EDMONTON, ALBERTA--(Marketwire - July 30, 2010) - Athabasca Minerals Inc. 
(the "Corporation" or "Athabasca") (TSX VENTURE:ABM) is pleased to announce 
the filing of its second quarter financial results for the period ending 
May 31, 2010.

During the second quarter of 2010, the Corporation generated revenue in the 
amount of $1,763,173, compared to $1,605,768 for the second quarter ending 
May 31, 2009. The Corporation had a loss of $300,716 for the second quarter 
compared to a profit of $18,491 from the previous year's comparable period. 
On an earnings per share basis, the Corporation incurred a loss of $0.01 
for the period ending May 31, 2010. The increased loss for this period is 
due to an aggressive stripping program at locations in the Susan Lake 
Aggregate Operation. Aggregates (sand and gravel) will be supplied from 
these additional locations as demand increases in the summer construction 
season. It is not anticipated that any additional stripping will be 
required at the Susan Lake Aggregate Operation for the fiscal year ending 
November 30, 2010.

The Corporation is impacted by seasonality in the construction industry, 
and typically the first and second quarters are the slowest quarters for 
the year. For the six month period ending May 31, 2010, aggregates sold 
from the Susan Lake and Poplar Creek aggregate operations was up 4.6 % from 
the previous year's period ending May 31, 2009. 

The complete financial statements for Athabasca Minerals for the period 
ending May 31, 2010 and the Management Discussion and Analysis for the same 
period are available for viewing on SEDAR.

About Athabasca Minerals Inc.

Athabasca Minerals Inc. is a resource company involved in the management, 
exploration and development of aggregate projects in Canada. These 
activities include contracts works, 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. The Corporation's aim is to find and develop 
local sources of industrial minerals essential to the economic development 
of specific high growth regions. 

Should you wish to receive the Corporation's news via email, please email 
chelsea@chfir.com and specify "Athabasca Minerals news" in the subject line.

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.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Athabasca Minerals Inc.
Dom Kriangkum, P. Eng
President, CEO and CFO
780-465-5696
dom@athabascaminerals.com
or
CHF Investor Relations
Robin Cook
Senior Account Manager
416-868-1079 x 228
robin@chfir.com
or
Boardmarker Group
Dean Stuart
403-517-2270
dean@boardmarker.net

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.