EDMONTON, Alberta, June 19, 2019 (GLOBE NEWSWIRE) -- Athabasca Minerals Inc. (“AMI” or the “Corporation”) (TSX Venture: ABM) announces the signing of a 10-year Aggregates Management Agreement (“Agreement”) with Montana First Nation (“MFN”) for the processing and sale of aggregates from MFN’s 185 acre Colchester Property (“Colchester Property”) located near Ponoka, Alberta.
The scope of the Agreement includes exploration, permitting, production management, marketing and progressive reclamation of the Colchester Property to supply sand and gravel materials to industry and municipalities in central Alberta as well as to Edmonton markets. It is anticipated that the Colchester Property will commence operations in Q3-2019, pending regulatory approvals.
AMI’s Chief Executive Officer, Robert Beekhuizen, said: “We are excited and honored to provide our services for Montana First Nation, and about embarking on a journey together to establish a new aggregate production operation that will bring economic and community benefits. This is an important strategic objective for AMI where our corporate expertise in managing large-scale contracts for the Province’s Susan Lake and upcoming Coffey Lake aggregate operations can be meaningfully re-applied for the First Nations as well.” Dana Archibald, AMI’s Chief Operating Officer adds, “We are 100% committed to Montana First Nation’s values and principles of sustainability, which also align with AMI’s. We look forward to creating meaningful employment opportunities for members of the Montana First Nation and bringing this new venture to the attention of companies who are seeking high quality products that are produced in a socially responsible manner.”
The Colchester Property is in MFN’s traditional territory, with close proximity to major roadways and rail, and situated in a regional belt of aggregate operations with promising industrial mineral resource of this nature. The Corporation will be assessing the extent of the resource from field tests in the coming weeks. The location enables cost-effective logistics with excellent access to regional infrastructure, oil & gas, petrochemical maintenance and capital projects.
About Athabasca Minerals
The Corporation is an integrated group of aggregates companies involved in resource development, aggregates marketing and midstream supply-logistics solutions. Business activities include aggregate production, pit management services, sales from corporate-owned and third-party pits, acquisitions of sand and gravel operations, and new venture development. Athabasca Minerals is the parent company of Aggregates Marketing Inc. – a midstream business providing integrated supply and transportation solutions for industrial and construction markets. It is also the parent company of AMI Silica Inc. – a subsidiary positioning to become a leading supplier of premium domestic in-basin frac sand with regional deposits in Alberta and NE British Columbia. It is the joint venture owner of the Montney In-Basin and Duvernay Basin Frac Sand Projects. Additionally, the Corporation has industrial mineral leases, such as those supporting the Richardson Quarry Project, that are strategically positioned for future development in industrial regions of high potential aggregates demand.
For further information on Athabasca, please contact:
Dean Stuart
T: 403-617-7609
E: dean@boardmarker.net
Robert Beekhuizen
T: 587-525-9610
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.
image: https://www.globenewswire.com/newsroom/ti?nf=NzYzODAwOCMyOTgzNzk2IzIwMjgxNDk=
image: https://ml.globenewswire.com/media/f339989f-9172-496d-9a1e-4d03035630c1/small/athabasca-logo-jpg.jpg
