Jon McCreary Increases Beneficial Ownership of Securities of Athabasca Minerals Inc.

Calgary, Alberta--(Newsfile Corp. - December 22, 2021) - Jon McCreary ("McCreary") announces that he has acquired beneficial ownership of, or control or direction over, additional common shares ("Common Shares") in the capital of Athabasca Minerals Inc. (the "Corporation").

The requirement to file this press release and corresponding early warning report (the "Report") was triggered on December 8, 2021 as a result of a purchase of 7,375,000 Common Shares at a price of CAD$0.20 per Common Share, for aggregate gross proceeds to the Corporation of CAD$$1,475,000, by JMAC Resources Ltd. ("JMAC"), an entity controlled by McCreary, in connection with the Corporation's non-brokered private placement announced on December 1, 2021 and closed on December 8, 2021 (the "Transaction"). The Common Shares issued in connection with the Transaction have been approved for listing on the TSX Venture Exchange.

JMAC is incorporated under the laws of the Province of British Columbia. The principal business of JMAC is that it is involved with making investments.

Prior to the Transaction, McCreary had beneficial ownership of, or control or direction over, 7,930,323 Common Shares, representing approximately 11.4% of the issued and outstanding AMI Common Shares. Following the Transaction, McCreary has beneficial ownership of, or control or direction over, 15,305,323 Common Shares, representing approximately 19.9% of the issued and outstanding AMI Common Shares.

McCreary acquired the Common Shares for investment purposes. McCreary expects to monitor the business, prospects, financial condition and potential capital requirements of the Corporation and, depending on evaluation of these and other factors, McCreary may from time to time in the future increase or decrease his direct or indirect ownership, control or direction over Common Shares or other securities of the Corporation through market transactions, private agreements, subscriptions from treasury or otherwise.

The Corporation's head office address is:

4409 94 Street NW
Edmonton, AB
T6E 6T7

JMAC's head office address is:

JMAC Resources Inc.
Suite 2200, 1055 W. Hastings St.
Vancouver, BC, V6E 2E9

For further information, including a copy of the corresponding report to be filed with Canadian securities regulators, please visit the Corporation's profile at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108285