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Athabasca Minerals Reports Strong Second Quarter Financial Statements

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junkHustler Member Level  Wednesday, 08/15/12 12:52:54 PM
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Athabasca Minerals Reports Strong Second Quarter Financial Statements

EDMONTON, ALBERTA --(Marketwire - July 31, 2012) - Athabasca Minerals Inc. (the "Corporation" or "Athabasca") (TSX VENTURE:ABM) is pleased to announce the filing of its Q2 financial results for the three and six month periods ended May 31, 2012.

For the second quarter, the Corporation reports results as follows:

-- Revenue in the amount of $3,209,483 compared with $1,696,004 during Q2 2011, an increase of 89.2%;

-- Net income of $721,252 during Q2 2012, an increase of $356,537 or 102.3% over Q2 2011 net income of $364,715;

-- Aggregate tonnes sold during Q2 2012 were 72.7% greater than during Q2 2011 (2,529,903 vs. 1,465,117 tonnes);

-- 2012 year- to- date tonnes sold were 91.8% above the comparative six month period (4,496,882 vs. 2,344,731 tonnes).

"The continued demand for aggregate this quarter and year to date remains impressive. Athabasca has nearly doubled its six-month tonneage sales and has more than quadrupled its net income over the comparative period." reported Dom Kriangkum, President & CEO.

The complete financial statements for Athabasca for the six month period ending May 31, 2012 and Management's Discussion & Analysis for the same period are available for viewing on the Corporation's website at www.athabascaminerals.com (http://www.athabascaminerals.com) and on SEDAR at www.sedar.com (http://www.sedar.com)

About Athabasca Minerals:

Athabasca Minerals Inc. is a resource company involved in the management, exploration and development of aggregate projects. These activities include contracts work, aggregate pit management, new aggregate development and acquisitions of sand and gravel operations. The Corporation also has industrial mineral land holdings in the vicinity of Fort McMurray and Peace River, Alberta for the purpose of locating and developing sources of industrial minerals and aggregates essential to high growth economic development.



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