Athabasca Minerals Announces Executive Appointments: Chief Financial Officer and VP AMI RockChain

Edmonton, Alberta--(Newsfile Corp. - May 16, 2022) -  Athabasca Minerals Inc. (TSXV: AMI) ("AMI", "Athabasca" or the "Corporation") an integrated group of companies that develops & delivers industrial minerals, sand & gravel products, technical services, transportation and supply-chain solutions announces the following appointments:

• David Churchill, as Chief Financial Officer (CFO)
• Philip Schuman, as Vice President, AMI RockChain Inc.

Mr. David Churchill, CPA, CA, ICD.D is a senior financial & accounting executive and joins Athabasca with more than 30 years experience spanning multiple sectors, including oil & gas services, manufacturing & construction, maintenance & environmental services, and public practice. Mr. Churchill was formerly the CFO for CEDA and Tarpon Energy Services respectively, Vice-President Financial Operations & Corporate Secretary for Anthem Properties Group, and senior manager at KPMG. He also sits on the Board of the Hull Child and Family Foundation, serving as the Board Chair. Mr. Churchill is a Chartered Accountant and holds a CPA designation as well as ICD.D designation from the Institute of Corporate Directors.

Philip Schuman, MBA, CIP joins the Corporation as Vice-President, AMI RockChain. Mr. Schuman brings 10 years experience in marketing and financial services as an executive, with a recent history of growing a privately held financial services company across Western Canada. Mr. Schuman will be focused on growing and advancing AMI RockChain's expanding business portfolio serving the needs of industry and municipalities across Canada, which includes planned launches of RockChain^TM Financial, RockChain^TM Co-Op, RockChain^TM Asset Sales, RockChain^TM Logistics, and RockChain^TM SaaS (Software as a Solution), currently in development. Mr. Schuman is actively involved in community and stakeholder leadership roles including as Board Director, Piikani Investment Corporation for the Piikani First Nation, and as President & Chairman of the Board for Alberta Sports & Recreation Association for the Blind.

Mark Smith, P.Eng, MBA has decided to pursue new career opportunities. The Corporation thanks Mr. Smith for his contributions and service as CFO for the past 3 years.

Robert Beekhuizen, Chief Executive Officer of Athabasca Minerals states: "these are exciting times for AMI, as we continue to grow our business portfolio, and expand our products and services across Canada. I'm extremely pleased to have David Churchill and Philip Schuman join the company in their roles as CFO and Vice-President, AMI RockChain respectively. The increasing demands on our business growth warrant the executive additions, including our focus on emerging strategic opportunities."

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.

For further information, please contact:
Cheryl Grue, Director, Corporate Affairs
Tel: 587-392-5862 / Email: cheryl.grue@athabascaminerals.com

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.

FORWARD-LOOKING STATEMENTS

This news release contains certain statements or disclosures relating to Athabasca that are based on the expectations of its management as well as assumptions made by and information currently available to Athabasca which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Athabasca anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "would", "will", "anticipates", believes", "explores" and similar expressions.

Athabasca believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: a significant expansion in COVID-19 restricting or prohibiting the operation of the Athabasca's facilities or significantly impacting the Company's supply chain; the duration and extent of the relatively low global oil prices; general economic, market and business conditions including those in the event of an epidemic, natural disaster or other event; increased costs and expenses; reliance on industry partners; and certain other risks detailed from time to time in Athabasca's public disclosure documents including, without limitation, those risks identified in this news release, and in Athabasca's annual information form, copies of which are available on Athabasca's SEDAR profile at www.sedar.com. Moreover, the duration and impact of the COVID-19 pandemic is unknown at this time and it is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date hereof and the Corporation undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124260