Provincial Police say the woman was walking with her two kids on Sunday afternoon when she was approached by a man on a bike who began uttering threats.
Police say the man then took out a knife and held it to her throat.
The woman was able to fight off her attacker and the suspect rode off into the bush.
Treaty Three Police later picked him up and arrested him for Assault with a weapon and Uttering death threats.
He has been identified as 36-year-old Benjamin Budge of no fixed address.