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Athabasca Minerals Announces Voting Results from 2022 Annual General and Special Meeting

Press Release

Edmonton, Alberta–(Newsfile Corp. – June 21, 2022) – Athabasca Minerals Inc. (TSXV: AMI) (“Athabasca” or the “Corporation”) is announcing the voting results of the Annual General and Special Meeting (the “Meeting”) of holders of Common Shares (“Shareholders”) of the Corporation which was held on June 21, 2022 in Edmonton, Alberta. The total number of votes represented at the Meeting was 33,009,355, being 42.522% of the total Common Shares of the Corporation.

At the Meeting Shareholders voted to fix the number of directors to be elected to the Board of Directors of the Corporation (the “Board”) at five. The detailed results of the vote for the election of directors of Athabasca are set out below.

Directors Votes For Votes Withheld
   Don Paulencu 32,322,650 42,563
   Terrance Kutryk 32,173,450 191,763
   Jonathan McCreary 32,282,650 82,563
   Dale Nolan 32,323,150 42,063
   Robert Beekhuizen 7,804,180 24,561,033

As a result, the nominees for election as directors set out above were elected as directors of Athabasca to serve until the close of the next annual meeting of Shareholders or until their successors are elected or appointed. In accordance with Athabasca’s majority voting policy, since Robert Beekhuizen received more “withheld” votes than votes “for”, Mr. Beekhuizen has indicated his intention to tender his resignation as a director to the Board. The Board will consider such resignation and will notify the Shareholders of the outcome of such consideration in due course by press release.

The Shareholders voted in favour of all other matters brought before the Meeting. The results of the other matters considered at the Meeting including the appointment of auditors, re-approval of the Corporation’s stock option plan, the approval of the deferred share unit plan and the restricted share unit plan, and the approval of the Corporation’s employee share purchase plan.

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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