1. science
2. engineering

CORPORATE PRESENTATION
DECEMBER 2014
www.athabascaminerals.com
TSX Venture: ABM
Disclaimer:
2
Information relating to the financial condition and results of operations for Athabasca Minerals Inc. (“ABM” or the “Corporation”) should be read in
conjunction with the Corporation’s annual and interim financial statements and the related notes to the Financial Statements and Management’s Discussion
and Analysis for the year ended November 30, 2013, and quarter ended August 31, 2014, as filed on SEDAR.
This presentation is for information purposes only and is not intended to, and should not be construed to, constitute an offer to sell or the solicitation of an
offer to buy securities of the Corporation.
Certain statements contained in this presentation (the “Presentation”) constitute forward-looking information pursuant to applicable securities legislation.
Such forward looking-information is used in the Presentation for the purposes of providing information about current expectations and plans relating to the
future of the Corporation. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The use of any of the words
“anticipate”, “continue”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “may”, “will” and similar expressions are intended to
identify forward-looking information. The Corporation believes the expectations reflected in such forward-looking information to be reasonable but no
assurance can be given that these expectations will prove to be correct.
Forward-looking information in this Presentation includes, but is not limited to, statements or information with respect to: business strategy and objectives;
development plans; fluctuations in commodity prices; access to capital markets; competition; changes in technology and government policies; capital
expenditures; net revenues; cash flow; debt levels; operating and other costs.
Forward-looking information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by the Corporation and described in the forward-looking information. These risks and uncertainties
which may cause actual results to differ materially from the forward-looking information include, among other things: the ability of management to execute
its business plan; general economic and business conditions; the possibility that government policies or laws may change; foreign currency exchange rates
and interest rates; risks inherent in the Corporation’s marketing; health, safety and environmental risks; risks associated with existing and potential future law
suits and regulatory actions against the Corporation; and uncertainties as to the availability and cost of financing. Readers are cautioned that the foregoing
list is not exhaustive of all possible risks and uncertainties.
The forward-looking information contained in this Presentation are made as of the date hereof and the Corporation undertakes no obligation to update
publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by applicable
securities laws. The forward-looking information contained in the Presentation is expressly qualified by the cautionary statement.
TSX.V: ABM
Athabasca Minerals Inc. – Aggregates Supplier to the Canadian Oil and
Gas Industry:
3

Formed in 2006, Edmonton-based Athabasca Minerals was formed
to capitalize on the enormous growth of the oil sand industry and
infrastructure industries in Alberta, and their need for industrial
minerals.

As a profitable company, Athabasca generates revenue through the
sale of aggregate products from both managed operations, and
starting in 2012, from its 100% owned aggregate operations.

Focus on developing a major silica sand project in Northern Alberta
to supply frac sand for the oil and gas industry in Western Canada.

Continued exploration for and/or development of aggregate
(including granite and limestone) and silica sand.
TSX.V: ABM
Corporate Information:
(as of November 30, 2014)
4
Symbol / Listing:
ABM / TSX Venture
Shares Issued:
33,068,850
Options Outstanding:
3,192,931
Warrants:
1,575,258
Fully Diluted:
37,837,039
Share Price:
$1.25
Market Capitalization:
$41 Million
Insider Ownership:
approx. 25%
Dom Kriangkum, CEO & Pres.
approx. 18%
TSX.V: ABM
Management:
5
Udomdej (Dom) Kriangkum, P.Eng - President, Chief Executive Officer, Director

Over 35 years of experience in the construction industry in Alberta, including road construction, civil project estimating, project management, gravel
prospecting and engineering consulting.
Scott MacDougall, P.Eng. - Chief Operating Officer

Mr. MacDougall has 15 years of experience in both engineering design and management of several civil infrastructure and mining projects. He also sits
as Vice-Chair with the Canadian Institute of Mining.
Craig Harris, CA, CPA – Interim Chief Financial Officer, Controller

Mr. Harris brings extensive experience from both the transportation and distribution industries with specialization in inventory control and software
implementations.
Heather Budney, P. Geol. - Chief Geologist

Ms. Budney has 11 years of experience working as a sand and gravel and industrial minerals geologist, and was a key contributor to the provincial
database of sand and gravel deposits produced by the Alberta Geological Survey.
Chris Hale, Manager Regulatory Affairs

Registered Professional Forest Technologist with over 35 years' experience in resource development and management across northern Alberta
including Senior Environmental Specialist with the Alberta Energy Resources Conservation Board ("ERCB") in oil sand mine development specializing
in reclamation.
TSX.V: ABM
Directors:
6
Peter Elzinga, ICD.D, Chairman and Director

Mr. Elzinga is a member of the Institute of Corporate Directors and currently sits on the Board of Servus Credit Union and The Peter Elzinga Family
Foundation. In addition, Mr. Elzinga is President of Elicia Holdings Ltd. and Chairman of the Goodfish Lake Business Corporation Board. Mr. Elzinga was
formerly the Honorary Consul for the Federative Republic of Brazil, is a former director of EPCOR, and is the former Vice President and Director for Edmonton
Northlands.
Douglas M. Stuve, Partner, Burstall Winger LLP, Director

Mr. Stuve's principal area of practice is corporate finance and securities law, as well as general corporate commercial law. Mr. Stuve holds a Bachelor of Arts
degree from the University of Alberta and a Bachelor of Laws degree (LL.B) from Queen's University. He is a past and current director and officer of several
public and private companies.
William Kanters, Director

Formerly employed with Lightstream Resources Ltd. (formerly PetroBakken Energy Ltd.), where he has worked in business development and corporate
planning and is currently vice-president of capital markets. Prior to joining Lightstream, he worked in investment banking at Haywood Securities Inc., focusing
on oil and gas financing and advisory activities for public and private companies. He holds an MBA, a M.Sc. in geological sciences and a B.Sc. in earth
science (geophysics).
Michael Peck, Director

Recently retired from Sherritt International Corp. as senior general manager, mining operations in the Coal Edmonton division. He has held a variety of
positions with Sherritt including mine superintendent and mine general manager. He also has extensive experience in surface mining in both hard rock and
coal. He has over 30 years of executive management experience in the mining industry.
Shaun O’Connor-Parsons, Director

Over 35 years of experience in the gravel industry; including former President and Partner of General Gravel Sales Ltd., a private sand and gravel company in
Edmonton. Areas of specialization include identifying, acquiring, developing and marketing sand and gravel resources in Western Canada.
. Edward Bereznicki, MBA, P.Eng., – Director

Mr. Bereznicki has over 24 years of capital markets and industry experience, both domestically and internationally. Mr. Bereznicki's experience includes midstream operations, large scale project development, marketing and risk management, and exploration and production. Mr. Bereznicki holds an MBA from the
Ivey School of Business, and a Civil Engineering degree from the University of Alberta. He is a Professional Engineer and a member of the APEGA.
Oilsands Production:
7
Year
Source: Canadian Association of Petroleum Producers

Oil Sands production was projected to increase from 1.9 million barrels per
day in 2012 to 4.8 million barrels per day in 2030
TSX.V: ABM
Oil Sands Aggregates Demands Analysis:
8
Oil Sands — Aggregate Demand Analysis
Oil Sands Aggregate Dem and Analysis
Status
Type of Project
Operational
Mining
Operational
SAGD *
Aggregate Annual
Tonnes/project (m m )
Total Aggregate
Tonnes/annum (m m )
9
1
9.0
19
0.5
9.5
# of Projects
18.5
Total Maintenance
# of Projects
Added (thru 2017)
Aggregate Tonnes per
project (m m )
Total Aggregate
Tonnes/annum (m m ) **
Construction Mining
4
5-8
8.0
Construction SAGD
19
0.5-1
Status
Type of Project
5.7
Total Construction
13.7
Total Aggregate Dem and
32.2
ABM's 2013 Aggregate sales
ABM's Market share
9.9
30.8%
* For SAGD projects, w e only count those w ith production above 1,000 bbls/day
** We assume green field aggregate tonnage requirement is spread over 2.5-year period (start up in 2017)
TSX.V: ABM
Aggregate Operations:
9
Athabasca manages the Susan Lake Aggregate Operation on behalf of the Government of Alberta under
a current 10 year agreement

First agreement signed in 1997; renewed in 2007 – currently in Year 7 (expiring November 30,
2017)

Susan Lake is the largest open pit Aggregate Operation in North America

Susan Lake supplies aggregates for the oil sands industry (end users including Shell,
Syncrude, Imperial Oil) and the municipality of Fort McMurray
Athabasca owns and operates the Kearl, Logan and House River Aggregate Operations

Kearl is an all season aggregate operation located in close proximity to the Imperial Kearl Oil
Sands Project and has a plant capacity of in excess of 1 million tonnes of sand and gravel per
year

Logan is a winter haul only aggregate operation located near a major oil sands operation and
House River is a winter haul only aggregate operation located near major infrastructure
TSX.V: ABM
Aggregate Operations – Location:
10
Susan Lake Gravel Pit
Kearl Gravel Pit
Pit 248
House River Gravel Pit
Conklin Stockpile Site
Logan Gravel Pit
TSX.V: ABM
Government Public Pit: Susan Lake Gravel Pit
11
Suncor’s
Fort Hills
Mine

One of the largest gravel pits in Canada

Through 2013, over 85 million tonnes of sand and gravel were sold from
this pit since 1998

The pit overlap with three major oil sands projects operated by Suncor,
Syncrude, and Shell oil

Suncor, Syncrude, and Shell oil have direct heavy haulers access to the
pit
ABM’s Susan Lake Revenue vs. Oil Sands Capex Investment – Strong Historical
Correlation
Syncrude’s
Aurora Mine
Shell’s Muskeg
River Mine
Year
Source: Dundee Capital Markets, CAPP, OilSands Review
TSX.V: ABM
Corporate Owned Pit: Sand and Gravel Pits
12
TSX.V: ABM
Financial Highlights:
13

Five consecutive years of revenue growth

Corporate owned pits generated revenue of $14,698,719 in 2013 versus $3,040,328 in 2012

Susan Lake management contract revenue generated $10,419,281 during the most recent fiscal year
Nov 2009
Nov 2010
Nov 2011
Nov 2012
Nov 2013
Susan Lake
$6,570,495
$7,844,781
$8,691,784
$11,682,347
$10,419,281
Corp Owned
$0
$0
$0
$3,040,328
$14,698,719
Net Income
$1,333,323
$1,681,808
$2,780,791
$4,710,409
$1,921,640
Basic EPS
$0.05
$0.06
$0.103
$0.171
$0.068
EBITDA
$3,460,522
$3,846,940
$5,220,157
$8,397,668
$6,118,080
Non-cash effect
of land use
agreement
-
-
$(704,967)
$(1,400,573)
$598,457
Adjusted
EBITDA
$3,460,522
$3,846,940
$4,515,190
$6,997,095
$6,716,537
TSX.V: ABM
Public vs Corp Owned Pits:
14
Public Gravel Pits
Corporate-Owned Pits
FISCAL 2013
FISCAL 2012
% Change
FISCAL 2013
FISCAL 2012
% Change
Tonnes Sold
1,329,430
1,768,326
(24.8)
186,794
198,653
(6.0)
Revenue
$1,489,017
$2,022,509
(26.4)
$5,194,379
$1,607,110
223.2
Tonnes Sold
2,200,426
2,475,056
(11.1)
157,352
54,847
186.9
Revenue
$2,427,022
$2,765,778
(12.2)
$3,851,656
$443,705
768.1
Tonnes Sold
3,259,127
3,315,751
(1.7)
73,951
-
-
Revenue
$3,620,506
$3,582,344
1.1
$1,954,643
$-
-
Tonnes Sold
2,567,308
3,060,189
(16.1)
136,993
63,945
114.2
Revenue
$2,882,736
$3,311,716
(13.0)
$3,698,041
$989,513
273.7
Public and Corporate-Owned Pits
COMBINED
Fiscal 2013
COMBINED
Fiscal 2012
% Change
9,911,381
10,936,767
(9.4)
$25,118,000
$14,722,675
70.6
Q1
Q2
Q3
Q4
Tonnes Sold
Revenue
TSX.V: ABM
Firebag Silica Sand Project:
15
Approximately 100 km north of
Fort McMurray where Highway 63
ends

Firebag Pit
Approximately 130 km to CN
rail facility in Lynton, east of Fort
McMurray

Lynton
Access road showing exposed sands
TSX.V: ABM
Firebag Silica Sand Project:
16

500 acre proposed project size

Silica sand exposed at surface
Access road showing exposed sands
TSX.V: ABM
Firebag Silica Sand Project:
17
Access road showing exposed sands
TSX.V: ABM
Firebag Silica Sand Project: Canadian Shale Plays
18
Edson processing Facility
Access road showing exposed sands

Located in proximity to major oil and gas plays in Alberta, BC and Saskatchewan
TSX.V: ABM
Market Advantage: Distance
19


Transportation is critical in the economic equation of a successful frac sand operation.
When Athabasca’s deposit is compared in distance to other key suppliers, it is closer to key markets than
other current suppliers.
Medicine Hat
Edson
(Cardium)
Grande Prairie
(Montney)
Frac Sand Source
( Distance in Kilometres)
Athabasca Silica, Alberta
1,230
880
1,280
Wisconsin Rapids, Wisconsin
1,965
2,550
2,950
TSX.V: ABM
Lynton to Edson : Proposed Trans-loading and Processing Facilities
20

Rail silica sand from Lynton to Edson

Process frac sand in Edson area
Customers within 150 kms can pick up frac sand at
the processing plant

Opportunity to rail products to Grande Prairie and
northeastern B.C.

Lynton
Proposed
Processing
Plant
Facility
Source: CN
CN rail network in Western Canada
Oil and gas plays in Western Canada
TSX.V: ABM
Rail Facility: Lynton
21

Lease application submitted for
Provincial approval on a 180 acres
(72 Ha) site next to an existing CN
rail facility in Fort McMurray

Site development anticipated to
commence during 2015
Lynton
TSX.V: ABM
Rail Facility: Lynton
22
TSX.V: ABM
Lynton: Rail Facilities
23

Transloading facility for gravel
and silica sand
TSX.V: ABM
Proposed Processing Plants Design:
24

Initial frac sand wet plant
and dry plant design with
drying and screening plant
3D rendering
TSX.V: ABM
Proppant Demand Forecast:
25
Proppant demand
CAGR
(bn pounds)
North Am erica
By country:
By type:

2007
2012
2017E
2007-'12
2012-'17E
13.96
59.10
102.40
33%
12%
US
12.27
53.26
89.95
34%
11%
Canada
1.69
5.84
12.45
28%
16%
Sand
12.28
53.55
93.90
34%
12%
Ceramic
1.64
5.27
8.04
26%
9%
Other
0.05
0.28
0.46
44%
11%
Proppant demand in the US is projected to increase from 53.2 bn pounds (24.2 million tonnes) in
2012 to 90.0 bn pounds (40.9 Million tonnes) by 2017E, a CAGR of 11%, whereas in Canada
forecasts point to a 16% CAGR, resulting in a jump from 5.8 bn pounds (2.6 million tonnes) to 12.5
bn pounds (5.7 million tonnes) over the same period
TSX.V: ABM
Total Proppant Used per Year in Canada:
26
Tonnes
Year
Source: FracKnowledge
TSX.V: ABM
Proppant Material Type Used in Canada:
27
Tonnes
Year
Source: FracKnowledge
TSX.V: ABM
Basic Frac Sand Properties:
28
Tier
Tier 1
Com m on
Designation
Predom onant Characteristics
Com m on
Form ation
Shape (Roundness &
Sphericity)
Crush K-value
Northern White
99% SiO2
St. Peter
> or = to 0.7
20/40: 6-8 K
White
Ordovician/Cambrian
Jordan
and
30/50: 7-9 K
Southern White
Geologically Mature
Wonew oc
> or = to 0.7
40/70: 8-11 K
Ottaw a - Type
Texturall Mature
Athabasca Crush
K- Value as tested
by StimLab
(July 10, 2014)
Athabasca Crush
K- Value as tested
by PropTester
(July 10, 2014)
Prem ium Sand
Mt. Simon
Northern Mix
Tier 2
Good Sand
> 97%
Aeolian Dune
0.6-0.9
Brady Brow n
97 - 99% SiO2
Hickory
> or = to 0.6
20/40: 4-6 K
20/40: 4-6 K
20/40: 5 K
Hickory
Geologically Mature
Winipeg
and
30/50: 5-7 K
30/50: 6 K
30/50: N/A
Select
Geologically Immature
Ordivician
> or = to 0.6
40/70: 6-8 K
40/70: 5-8 K
40/70: 5-7 K
Texturall Imature
Select Glacial
and Alluvial
Athabasca Silica
0.6-0.8
Non - Traditional
Tier 3
Fit-for-Purpose Sand
Aeolian Dune
Select
Non - Traditional
Less than 98% SiO2
Pulaxy
< or = to 0.6
20/40: < or = to 4 K
Geologically Imature
Sharon
Conglomorate
and
30/50: < or = to 5 K
Texturall Imature
River Sands
< or = to 0.6
40/70: < or = to 6 K
Source: PropTester
TSX.V: ABM
Firebag Silica – Independent Test Results:
29
ATHABASCA SILICA PROPPANT TEST DATA
ATHABASCA SILICA PROPPANT TEST DATA
Group1(0-10’)-MZ1,MZ10,MZ12,MZ14,F16
PropTester and Stim Lab
July 10, 2014
Group1(0-10’)-MZ1,MZ10,MZ12,MZ14,F16
PropTester and Stim Lab
July 10, 2014
TEST
Sieve Analysis
Recommended amount
retained in-size 90%
API/ISO Specs
Sphericity 
0.6
Roundness
0.6
Clusters
0.0
Acid solubility
2.0%
Acid solubility
3.0%
Turbidity
250 FTU
Bulk Density
Bulk Density
Quartz=2.65
Specific Gravity
Crush Resistance
Crush K Value
Suggested Maximum Fines
Note:
Test data were prepared by
PropTester Inc.
and
Stim-Lab Inc.
( A Core Laboratories Company)
PropTester Inc. - 20/40
Sieve
18
20
25
30
35
40
50
Pan
Total %
In-size
% Retained
0.0
0.1
7.0
14.4
30.8
43.1
4.3
0.2
95.4
Stim Lab Inc. - 20/40
Sieve
18
20
25
30
35
40
45
Pan
Total %
In-size
0.8
0.9
0.0
4.3%
16 FTU
1.50 g/cm³
93.39 lb/ft³
2.61
Stresses
Tested
(psi)
4000
5000
6000
% Retained
0.0
0.0
6.9
14.5
30.7
45.1
2.7
0.0
97.2
0.7
0.6
0.0
3.0%
12 FTU
1.50 g/cm³
93.6 lb/ft³
2.63
% Fines
Stresses
Tested (psi)
% Fines
9.8
14.4
4000
5000
6000
8.0
15.0
-
5K
14% @ 4000 psi
4K
14% @ 4000 psi
TEST
Sieve Analysis
Recommended amount
retained in-size 90%
API/ISO Specs
Sphericity 
0.6
Roundness
0.6
Clusters
0.0
Acid solubility
2.0%
Acid solubility
3.0%
Turbidity
250 FTU
Bulk Density
Bulk Density
Quartz=2.65
Specific Gravity
Crush Resistance
Crush K Value
Suggested Maximum Fines
PropTester Inc. – 40/70
(0-10’) the average of 5 samples
Sieve
30
40
45
50
60
70
100
Pan
Total %
In-size
% Retained
0
0.9
18.5
25.6
32.2
20.8
1.9
0
97.2
Stim Lab Inc. - 40/70
Group1(0-10’) - 5 samples
Sieve
35
40
45
50
60
70
80
Pan
Total %
In-size
98.8
0.7
0.6
0.0
2.7 %
12 FTU
1.47 g/cm³
91.7 lb/ft³
2.64
0.7
0.8
0
4.1 %
22 FTU
1.47 g/cm³
91.69 lb/ft³
2.64
Stresses
Tested
(psi)
5000
7000
8000
% Retained
0.0
0.2
17.6
23.2
30.4
27.6
0.9
0.0
% Fines
Stresses
Tested (psi)
% Fines
8.4
12.0
5000
7000
8000
4.9
8.5
11.3
7K
8% @ 5000 psi
7K
8% @ 5000 psi
Note:
Test data were prepared by
PropTester Inc.
and
Stim-Lab Inc.
( A Core Laboratories Company)
TSX.V: ABM
Firebag Silica project – Timeline:
30

February 2014: Alberta Environment and Sustainable Resources Development (ESRD) has completed its
review of Athabasca's silica sand surface material lease application

August 26, 2014: Conservation and Reclamation Business Plan (CRBP) approved by ESRD

September 23, 2014: Inferred Resource of 45 million tonnes at Firebag Project
Firebag Project — Timeline
2014
Q2
Q3 Q4
2015
Q1
Q2 Q3 Q4
2016
Q1
Q2 Q3 Q4
2017
Q1
Q2 Q3 Q4
NI 43-101
Permitting
PEA
Environmental studies
Feasibility study
Detailed engineering
Construction
Ramp-up/Production
TSX.V: ABM
Firebag Silica – Sand Images:
31
Sand Images-40 mesh 10x
Sand Image- 40 mesh 40x
Sand Image- 70 mesh 10x
Sand Image- 70 mesh 40x
TSX.V: ABM
Contact:
32
Athabasca Minerals Inc.
9524 - 27 Avenue
Edmonton, Alberta
Canada, T6N 1B2
T: + 1 780 465 5696
E : [email protected]
www.athabascaminerals.com
TSX.V: ABM