Athabasca Nuclear Corporation Strengthens Board Independence

CALGARY, ALBERTA--(Marketwired - Jul 3, 2014) - Athabasca Nuclear Corp. (TSX VENTURE:ASC) ("Athabasca Nuclear" or the "Corporation") is pleased to report that it has appointed Darren Smith, P.Geol. and Carl Schulze, P.Geo. as independent directors on its Board of Directors with immediate effect.

Darren L. Smith, P.Geol. is a Project Geologist with Edmonton-based Dahrouge Geological Consulting Ltd. He has extensive project management experience including the recent discovery and advancement of Commerce Resources Corp.'s Ashram Rare Earth Deposit in northern Quebec. Mr. Smith has provided technical oversight for preliminary economic assessments and prefeasibility-study-level project advancement, and has set up and monitored complex metallurgical programs. Mr. Smith also brings extensive experience in Athabasca Basin uranium exploration, focused in particular on unconformity-associated uranium deposit exploration. He holds a Master of Science (Geology) and a Bachelor of Science (Geology), both from Carleton University.

Carl Schulze, P.Geo. is the Founder and President of Whitehorse-based All-Terrane Mineral Exploration Services. He has been active in mineral exploration for more than 30 years, and has worked extensively in Yukon, British Columbia, northern Ontario and Alaska, as well as the Northwest Territories, Saskatchewan and Manitoba. Mr. Schulze holds active professional membership in the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and the Association of Professional Geoscientists of Ontario (APGO). He holds a Bachelor of Science (Geology) from Lakehead University.

Concurrent with the appointments, the Corporation reports that it has accepted the resignation of Darren Fach as a Director of Athabasca Nuclear. The Corporation would like to thank Mr. Fach for his services and wishes him well in his future endeavors.

Option Grant

The Corporation further reports that pursuant to its Stock Option Plan, and subject to approval by the TSX Venture Exchange, Athabasca Nuclear intends to grant 1,500,000 stock options to certain Directors and Employees of the Corporation, such stock options having an exercise price of $0.07 per share and a five-year term.

About Athabasca Nuclear Corporation

Athabasca Nuclear Corp. (TSX VENTURE:ASC) is an exploration company based in Calgary, Alberta which is focused on uranium exploration in the Athabasca Basin of Saskatchewan, Canada.

Signed,

Ryan Kalt, Chief Executive Officer

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.