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Athabasca Minerals Announces Issuance of Incentive Stock Options and Deferred Share Units

Press Release

Edmonton, Alberta–(Newsfile Corp. – May 30, 2022) – Athabasca Minerals Inc. (TSXV: AMI) (“AMI”, “Athabasca” or the “Corporation”), an integrated group of companies that develops & delivers sand & gravel products, technical services, transportation and supply-chain solutions, announces that its Board of Directors has approved the grant of 474,000 Stock Options (“Options”) and 100,000 Deferred Share Units (“DSUs”) under the shareholder approved Stock Option and Deferred Share Unit Plans for certain Directors, Officers, or Employees who have either recently joined AMI or replenished exercised Options.

The Options will vest by one-third every 6 months from the date of issuance and may be exercised for a period of 5 years from the date of issuance, at an exercise price of CAD$0.32 per common share. The DSUs vest by one-third every 12-months following issuance but may not be exercised until a Director, Officer or Employee ceases to serve on the Board or be employed by the Corporation. AMI’s equity-based compensation is issued consistent with applicable securities law and hold periods.

ABOUT ATHABASCA MINERALS INC.

Athabasca Minerals is an integrated group of companies capable of full life-cycle development and supply of aggregates and industrial minerals. The Corporation is comprised of the following business units: AMI Silica, (www.amisilica.com) with resource holdings and business interests in Alberta, North-East BC, and the United States; AMI Aggregates, with aggregates from its corporate pits and which manages the Coffey Lake Public Pit for the Government of Alberta; Métis North Sand & Gravel which is a strategic partnership with the McKay Métis Group to deliver aggregates to the energy, infrastructure, and construction sectors in the Wood Buffalo region; AMI RockChain, a technology-enabled business using its proprietary RockChain™ digital platform, automated supply-chain and logistics solutions, quality-assurance & safety programs to deliver products across Canada; and TerraShift Engineering which conducts resource exploration, regulatory, mining, environmental and reclamation engineering for a growing nation-wide customer base and is also the developer of its proprietary TerraMaps™ software.

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