Athabasca Nuclear Corp. Acquires Liberty PGE Project

Vancouver - Athabasca Nuclear Corporation (TSX-V: ASC) (“ASC” or the “Corporation”) is pleased to report that it has acquired the Liberty PGE Project, a large scale platinum group element (PGE) exploration project located in Quebec, Canada.

“The acquisition of the Liberty PGE Project solidifies ASC’s dominant land position in this region. It will provide us with additional exploration opportunities to pursue in conjunction with our Sun Valley PGE Project. Together, our new Liberty PGE Project, and our previously announced Sun Valley PGE Project, represent exciting developments for our shareholders,” stated Ryan Kalt, CEO of the Corporation.


About the Liberty PGE Project

The Liberty PGE Project claim block is anticipated to encompass 175 mineral cell claims which have been applied for on ground immediately surrounding the Sequoi Project being advanced by Northern Shield Resources Inc. (“Northern Shield”).

In aggregate, ASC’s Liberty PGE Project claim cells are expected to cover approximately 8,476 ha, which represents, when combined with the Corporation’s proximate Sun Valley PGE Project, the largest mineral tenure holding in the immediate area.

The Liberty PGE Project ground was acquired through map designation and is currently within the pending phase of acquisition. All required fees have been paid and 100% tenure ownership is expected to be confirmed shortly. This new ground was acquired by the Company through an arm’s length exploration services company at a cost equating claim fees plus a 2% royalty.

Claim Map of the Liberty PGE Project
http://www.fscwire.com/sites/default/files/NR/701/11205_Atha%20Img1.jpg

Map Link URL:
http://www.athabascanuclear.com/wp-content/uploads/2016/06/ASC_Liberty_Project_Map.jpg

Regional Magnetics Map of the Liberty PGE Project
http://www.fscwire.com/sites/default/files/NR/701/11205_Atha%20Img2.jpg

Map Link URL:
http://www.athabascanuclear.com/wp-content/uploads/2016/06/ASC_Liberty_Project_Regional_Magnetics.jpg

ASC believes that its Liberty PGE Project has similar exploration potential to the adjacent Sequoi Project held by Northern Shield.

The Sequoi Project is being explored by Northern Shield as a potential host to part of the feeder system to the sills of the Labrador Trough, as well as a possible relation to the mineralization present at the Huckleberry. Analysis by Northern Shield of regional lake bottom sediments and glacial history suggest that the area hosting the Sequoi Project (Northern Shield) and the Liberty Project (ASC) may proximate to the head of a regional Ni-Cu-PGE dispersion train that dominates the southern Labrador Trough. (see Northern Shield Presentation, http://www.northern-shield.com/misc/Sequoi_Property_Presentation.pdf).

The Liberty Project targets portions of the same magnetic anomaly that Northern Shield interprets could be a flat-lying mafic-ultramafic intrusion that may potentially contain pools of massive sulphide mineralization. Northern Shield further notes that the target is ideally located on the edge of a regional gravity high as is typical for large mafic-ultramafic complexes. ASC believes that its tenure position prospectively represents such a potential location. (see also Northern Shield Presentation, http://www.northern-shield.com/misc/Sequoi_Property_Presentation.pdf).

Management cautions that past results or discoveries on adjacent properties (i.e. Sequoi, Huckleberry) may not necessarily be indicative to the presence of mineralization on the Company’s properties (i.e. Liberty).


Qualified Person

Darren L. Smith, M.Sc., P.Geol., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.


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 the large tenure position in the Whabouchi Lithium District and a 50% interest in the district-scale Preston Uranium Project, one of the largest 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, Investor Relations
604-329-4421
athabascanuclear@gmail.com
www.athabascanuclear.com