TSXV: UAX 
OTCQX:  ATURF

VANCOUVER, Aug. 23, 2011 /PRNewswire/ - Athabasca Uranium Inc. is pleased to announce the appointment of Thomas S. Drolet, BEng, MSc, DIC, to its newly-formed Advisory Committee.

Mr. Drolet has a bachelor's degree in Chemical Engineering from Royal Military College of Canada, a Masters of Science degree in Nuclear Technology/Chemical Engineering and a DIC from Imperial College, University of London, England.  He has had a 42-year career in the energy sector, especially in nuclear, where he spent 26 years with Ontario Hydro in various engineering, research and operations functions (predominately in their Nuclear Energy division). He formed and headed Canada's R&D Program into Fusion (CFFTP) in 1982 and then moved into International Commercial work with Ontario Hydro International, a spin-off of the world's fourth largest electrical utility, where he was named President and CEO in 1993.  Mr. Drolet was then appointed Managing Director of American Electric Power Canada, and President of Canadian Energy Opportunities, Inc. where he was involved in mergers, acquisitions and other consulting activities in the Canadian and US power sectors. Following a stint at DTE Energy Technologies as their head of International Business for Distributed Generation products, he was most recently the President and CEO of Western GeoPower Inc., doing electrical project work in North and South America. He was at Three Mile Island in late 1979, at Chernobyl, Ukraine soon after the accident in 1986, and has recently been interviewed extensively for his expertise regarding this year's Fukushima incident. He is a frequent guest and key-note speaker on Nuclear Energy at global conferences and consults in the general energy sector worldwide.

On his appointment to the UAX Advisory Committee, Mr. Drolet commented: "Despite the events in Japan earlier this year, I am extremely bullish on the nuclear energy sector. That continuing enthusiasm is based on my profound belief in the need for balance in the world's electricity supply system and the need for more baseload power supply for the increasingly electricity-driven energy future that I see. I truly look forward to helping Athabasca Uranium achieve its goals.  With its extensive land position in the heart of Canada's uranium sweet spot, UAX's exploration and global opportunities in uranium are unbounded."

Gil Schneider, Athabasca CEO commented: "We are pleased with Mr. Drolet's decision to join the UAX Advisory Committee.  A world-renowned nuclear energy and uranium expert, he brings a wealth of experience to the Company, and can assist with achieving the Company's global objectives."

Mr. Drolet is the first of several planned appointments to the newly-formed Advisory Committee, which will consult with the UAX Board of Directors and management on the development of the Company's exploration projects and its global profile.  The Committee will be comprised of leading experts in the technical, commercial and financial fields, who can contribute to the advancement of Athabasca Uranium's projects and global development.

The Company also announces that the Board of Directors has granted incentive stock options to purchase up to 700,000 common shares of the Company at a price of $0.20 per share for a period of five years to its directors, officers, employees and consultants, 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 52,000 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, its properties and its vision is available on the Company's website at www.athabascauranium.com.

ON BEHALF OF THE BOARD OF DIRECTORS

     "Gil Schneider"

Gil Schneider, President & CEO

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Athabasca Uranium Inc.