Athabasca Uranium Appoints New Director and Audit Committee Chair

VANCOUVER, July 10, 2012

VANCOUVER, July 10, 2012 /PRNewswire/ - Athabasca Uranium Inc. ("Athabasca" or the "Company") is pleased to announce the appointment of Paula Rogers, CA as a member of the Board of Directors and as Chair of the Company's audit committee, effective immediately.

Ms. Rogers is a Chartered Accountant with over 15 years of experience at Canadian-based international public companies in the areas of treasury, mergers and acquisitions, financial reporting, and tax.  She is currently Director and Audit Committee Chair for TSX-listed Timmins Gold Corp. and Chief Financial Officer at Castle Peak Mining.  As the former Vice-President, Treasurer of NYSE-listed Goldcorp Inc. and Corporate Treasurer of Wheaton River Minerals Ltd. until its 2005 merger with Goldcorp, she was instrumental in financing the growth of both companies during her six-year tenure, successfully raising over $4 billion in bank credit facilities, convertible notes and project financing for the companies. Prior to Wheaton River and Goldcorp, Ms. Rogers spent nine years in senior finance roles at Finning International Inc., including as Assistant Treasurer, Corporate Reporting Manager and Tax Manager.

"We are pleased to welcome to our Board a director with Ms. Rogers' qualifications and experience. Her involvement with our team will definitely help in the ongoing growth of Athabasca Uranium" stated Barry Lee, Chairman of the Athabasca board. "Her track record in the mining industry and experience with Goldcorp and Wheaton River will be a valuable asset to Athabasca at this exciting time in our development."

Additionally, the Company announces that the Board of Directors has granted incentive stock options to purchase up to 550,000 common shares of the Company at a price of $0.15 per share for a period of five years to its directors, officers and consultants.  The grant of stock options is subject to the approval of the TSX Venture Exchange.

About Athabasca Uranium

Athabasca Uranium Inc. is a uranium exploration and development company exploring an aggregate of over 60,000 hectares strategically located in the uranium-rich Athabasca Basin region of northeast Saskatchewan.  The Company's stated vision is to explore the region using leading-edge technology to become a world-class uranium mining company.  Additional information on Athabasca Uranium and its vision is available on the Company's website at www.athabascauranium.com.