Athabasca Nuclear Corporation - Announces Financing

Vancouver - Athabasca Nuclear Corporation (TSX-V: ASC) (“ASC” or the “Corporation”) is pleased to announce that it intends to conduct a financing consisting of a brokered flow-through component of up to 2,500,000 units at a price of $0.10 per unit for gross proceeds of $250,000 (the “Flow-Through Units”) and a non-brokered common share component of up to 3,250,000 units at price of $0.08 per unit for gross proceeds of $260,000 (the “Common Share Units”)(the Flow-Through Units and Common Share Units collectively referred to as the “Financing”).


Flow-Through Units

Each Flow-Through Unit priced at $0.10 will consist of one common share and one half of a common share warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Corporation at a price of $0.15 per common share for a period of 18 months from the closing date.

Proceeds of the Flow-Through Units will be used to explore the Corporation’s Quebec mineral projects.

The Corporation has engaged Secutor Capital Management Corp. to conduct the Flow-Through Units. The Corporation has agreed to pay a 7% cash fee on gross proceeds of the Flow-Through Units, issue non-transferrable brokers warrants equal to 7% of the total number of Flow-Through Units exercisable at $0.10 for an 18 month period following closing and pay certain legal fees.


Common Share Units

Each Common Share Unit priced at $0.08 will consist of one common share and one half of a common share warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Corporation at a price of $0.15 per common share for a period of 18 months from the closing date.

Proceeds of the Common Share Units will be used for general working capital purposes and for the potential acquisition of additional mineral projects.

The Corporation may pay cash finder’s fees equal to 7% of the gross proceeds of the Common Share Units and issue non-transferrable finder’s fee warrants equal to 7% of the gross proceeds of the Common Share Units which in turn may be exercised at a price of $0.10 per finders warrant for an 18 month period following closing.

Shares issued pursuant to the Financing under both the Flow-Through Units and Common Share Units shall be subject to a four-month hold period pursuant to applicable securities laws of Canada.


About Athabasca Nuclear Corporation

Athabasca Nuclear Corporation (TSXV:ASC) is an exploration company holding a 100% position in the Spodumene Lake and Dumont Lithium Projects, which combined represent a large tenure position in the Whabouchi Lithium District and a 50% interest in the district-scale Preston Uranium Project, one of the largest land tenure positions in the emerging Western Athabasca Basin. More information about ASC and its projects may be found at www.athabascanuclear.com.


Signed,

Ryan Kalt, Chief Executive Officer



Forward-Looking Statements: This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.

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.



Contact Info:

Athabasca Nuclear Corporation
Brian Biles
604-329-4421
athabascanuclear@gmail.com
www.athabascanuclear.com