Athabasca Minerals Inc. has entered into an agreement to acquire ownership of a private Alberta corporation that holds the Duvernay Frac Sand Project (“Duvernay Project”) in Alberta. The Duvernay Project adds to and further strengthens the Corporation’s objective of becoming the leading ‘in-basin’ frac sand supplier of premium domestic sand in Western Canada through its wholly-owned subsidiary, AMI Silica Inc. AMI has progressively staged its ownership in Privco2, based on key milestones in delineating the Duvernay Project resource. An initial investment of $280,000 in cash and the issuance of 420,000 Athabasca (‘ABM’) shares was made for 16.2% interest in Privco2. An additional 33.4% interest will be acquired for $742,000 and the issuance of 1,680,000 Athabasca (‘ABM’) shares pending resource delineation results expected in April-2019. The Corporation has the further option to purchase the remaining 50.4% from Privco2 shareholders within 1 year following this transaction. Early laboratory results of the Duvernay Project sand, as conducted by Stim-Lab Inc. on samples taken from the deposit, showed favorable physical properties, with sphericity and roundness factors of 0.7 each, acid solubility of 2.6% and crush strength values of 9k psi (40/70 granularity) and test results of 10k psi (70/140 granularity). These preliminary results indicate that the Duvernay Project sand complies with API Standard 19C specifications for sands used in hydraulic fracturing. Athabasca and Privco2 have formed a joint project team, with initial exploration activities to commence immediately. Funds invested in Privco2 will be used to advance the Duvernay Project commencing with resource delineation and validation in first quarter of 2019.