Ms. Cheryl Grue reports

ATHABASCA MINERALS ANNOUNCES CEASE TRADE ORDER

Athabasca Minerals Inc.'s regulatory authorities, the Alberta and Ontario securities commissions, have issued a failure-to-file cease trade order (FFCTO) with respect to the corporation's securities due to the corporation's inability to file its audited annual financial statements and corresponding management's discussion and analysis for the year ended Dec. 31, 2022, as required by National Instrument 51-102.

As previously announced on May 1, 2023, the corporation has experienced unexpected delays due to the complexity of its U.S. acquisition, corporate restructuring and management changes. However, the corporation is working diligently and expeditiously with its auditors and expects to file the financial documents by May 19, 2023.

About Athabasca Minerals Inc.

Athabasca Minerals is an integrated industrial minerals company focused on the production and delivery of frac sand to Canada and the United States. Athabasca also operates aggregate operations in Western Canada and maintains the largest platform for buying, selling and transporting of aggregates through its 100-per-cent-owned technology platform, AMI RockChain.

We seek Safe Harbor.