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Message: Has Engaged SNC-Lavalin to Provide Pre-feasibility Study Services
| January 19, 2009 |
| Athabasca Potash Inc. Has Engaged SNC-Lavalin to Provide Pre-feasibility Study Services on the Burr Project |
| SASKATOON, SASKATCHEWAN--(Marketwire - Jan. 19, 2009) - Athabasca Potash Inc. ("Athabasca" or the "Company") (TSX:API) is pleased to announce that it has engaged SNC-Lavalin Inc. to provide pre-feasibility study services on the Burr Project adjacent to the PCS Lanigan Mine located 107 kilometers east of Saskatoon, Saskatchewan. SNC-Lavalin, other consultants and Athabasca will each address specific elements of the scope of the Pre-feasibility Study (the "Study"). SNC-Lavalin's services will address the surface processing plant and infrastructure. Other consultants and Athabasca are responsible for the environmental and other aspects of the Study to include geology, process technology, underground mine development, resource assessment, shaft, tailings management facilities and transportation. Based on this work SNC-Lavalin will develop capital and operating cost estimates with an intended accuracy of ±25% and a preliminary project execution schedule. Athabasca also intends to file a new National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") compliant technical report in connection with the Study. The Study is scheduled for completion in the third quarter of 2009. "We are delighted that SNC-Lavalin is working with Athabasca on this important milestone. SNC-Lavalin has been involved in the potash industry for a very long time and has previously provided services to many potash mines in Saskatchewan" said Dawn Zhou, the Company's President and CEO. On September 29, 2008, the Company announced an updated potash resource estimate for the Burr Project prepared by AMEC Americas Limited ("AMEC"). The Lower Patience Lake Sub-Member ("LPL") contains Indicated Mineral Resources of 241,200,000 tonnes with a grade of 23.3% K2O and an Inferred Mineral Resource of 183,100,000 tonnes with a grade of 23.2% K2O. There is an additional Inferred Mineral Resource of 39,300,000 tonnes, with a grade of 13.2% K2O in the Upper Patience Lake Sub-Member ("UPL"). The Indicated Mineral Resource contains 89,000,000 tonnes of KCl and the Inferred Mineral Resources contains 76,000,000 tonnes of KCl respectively (multiplied K2O tonnes by 1.596 KCl tonnes). The September 29, 2008 press release (the "Press Release") and the NI 43-101 technical report (the "Technical Report") supporting the updated potash resource estimate are available at www.sedar.com or www.athabascapotash.ca. Susan Lomas, P.Geo. of Lions Gate Geological Consulting Inc, is the Qualified Person (as defined by NI 43-101) for having prepared the mineral resource estimates, and scientific and technical information in the Technical Report and the Press Release. About Athabasca: Athabasca Potash Inc. is a Canadian based corporation and was founded with a goal of establishing itself as a pre-eminent Canadian public company engaged solely in potash exploration and development with focus on the Company's wholly owned Burr Project, and to provide its shareholders with a unique investment opportunity focused entirely on potash. |
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