Antares Announces New Discovery at Cristo De Los Andes Zone of Haquira Cu-Mo-Au Project, Peru

Antares Minerals Inc. ("Antares") (TSX VENTURE:ANM) is pleased to announce the
results of the first five diamond drill holes (1,814 m) of the current drilling
campaign at the Cristo de los Andes target of the Haquira Cu-Mo-Au Project in
southern Peru. These results confirm the presence of near-surface secondary
copper mineralization and have also discovered underlying primary copper
sulphide mineralization with elevated gold contents in a geological setting
similar to Antares' nearby Haquira discovery (which hosts 43-101 compliant
resources containing a total of 8.0 billion lbs Cu or 9.2 billion lbs Cu
Equivalent utilizing a cut-off grade of 0.2% Cu for leachable resources and 0.3%
Cu for primary sulphide resources; see press releases of November 24th, 2008 and
September 1st, 2009).




Highlights from the five holes reported in this release are as follows:

- Near-surface secondary copper mineralization encountered in all five holes
 -- ACAD-001 30.00 m with 0.60% Cu and 0.035 g/t Au
 -- ACAD-002 34.10 m with 1.19% Cu and 0.161 g/t Au and 0.035% Mo
 -- ACAD-003 25.90 m with 1.56% Cu and 0.104 g/t Au
 -- ACAD-004 27.85 m with 1.71% Cu and 0.358 g/t Au and 0.022% Mo
     and 47.00 m with 0.74% Cu and 0.089 g/t Au
 -- ACAD-005 52.80 m with 0.35% Cu and 0.027 g/t Au
 -- Additional secondary mineralization present below most of these zones
 -- These five holes define an area with minimum lateral dimensions of 300 m
    by 200 m   with mineralization open along strike to the north and south

- Primary copper sulphide mineralization encountered at depth in several
  holes including
 -- ACAD-002 65.75 m with 0.47% Cu and 0.197 g/t Au
 -- Extensive zones of greater than 0.3% primary copper mineralization
    associated with the margin of a multi-phase intrusive/breccia complex



Please see table 1 below for a complete summary of the new results and refer to
the Antares website at www.antaresminerals.com for drill-hole location maps,
cross-sections and additional information about the Cristo de los Andes target
and the Haquira Copper project. The initial phase of drilling at Cristo de los
Andes has been completed with a total of 4,265 m in 15 holes. The drilling
campaign was extended from an original plan of 3,000 m based upon the visual
results from initial drilling. Assays are pending for the remaining 10 drill
holes and will be reported as they become available.


John Black, President and CEO of Antares Minerals Inc. commented as follows:

"We are very encouraged with the initial results from Cristo de los Andes. The
secondary copper zone is consistently present and with grades commonly in excess
of 1% total copper. We have also encountered widespread primary copper sulphide
mineralization beneath the secondary copper zone with grades similar to those at
the Haquira East zone in the earliest stages of drilling prior to vectoring into
to the best areas. Gold grades are notably higher than we have seen at Haquira
and significant molybdenum is also present. Although exploration at Cristo de
los Andes is only in the initial stages, results to date indicate that there is
a very good chance that this will become a significant deposit, contributing to
the overall Haquira Project."


Discussion of results

The Cristo de los Andes property is located to the south of, and contiguous
with, Antares' Haquira property and the areas are collectively referred to as
the Haquira Project. The principal area of known mineralization at Cristo de los
Andes is located approximately 10 km south from Antares' Haquira East and
Haquira West discoveries. The best exposed mineralization occurs within a 100 m
by 400 m zone with abundant copper oxides and secondary copper sulphides hosted
in siltstones, sandstones and quartzites of the Jurassic Chuquibambilla and
Soraya Formations. This area of mineralization trends to the north-northwest and
is associated with the margins of a multi-phase monzonite intrusive complex in a
setting almost identical to that of the Haquira East deposit. 


Previous drilling was completed by other parties at the project in the mid
1990's and consisted of eight, widely-spaced, shallow drill holes exploring for
a large high-grade primary porphyry body. Three of the eight holes encountered
ore-grade intervals of near-surface secondary copper mineralization (Hole 143-06
with 33 m @ 0.65% Cu, Hole 143-08 with 33 m @ 0.77% Cu and Hole CA-2 with 15.4 m
@ 0.48% Cu and 17.5 m with 0.44% Cu). 


The current drilling program was initiated by twinning prior drill holes 143-06
and 143-08 to confirm the historical results. The geology and mineralization was
confirmed, with a notable increase in grade for one of the two holes as
indicated below. 




143-06      33.0 m with 0.65% Cu and 0.02 g/t Au
ACAD-001    30.0 m with 0.60% Cu and 0.035 g/t Au

143-08      33.0 m with 0.77% Cu, 0.06 g/t Au and 0.04% Mo
ACAD-002    34.1 m with 1.19% Cu, 0.161 g/t Au and 0.035% Mo



The two sets of twin holes were drilled at an orientation (azimuth 060,
inclination -50 degrees) designed to be perpendicular to the north-northwest
trending zone of known mineralization at the surface and to also be at a high
angle to the southwest dipping sedimentary wall rock stratigraphy. Hole ACAD-002
is located 200 m along strike to the south-southeast of ADAD-001. The holes were
initiated in sedimentary rocks and terminated at depth in the multiphase
intrusive/breccia complex. The best zones of secondary mineralization are hosted
in siltstone intervals within the sedimentary sequence and are characterized by
copper oxides as well as locally abundant secondary copper sulphides
(chalcocite). The orientation of the drilling suggests that the drill intercepts
are close to representing true thicknesses although additional drilling will be
required to confirm this.


ACAD-001 and ACAD-002 were each extended to greater depths than the previous
shallow holes and encountered widespread intervals of primary copper sulphide
mineralization as indicated in Table 1. The majority of the primary copper
sulphide mineralization is hosted in the monzonite intrusive complex and appears
to be spatially associated with a later, more quartz rich intrusive phase along
the margins of the complex. Primary copper grades are typically in the 0.3-0.4%
Cu range but locally exceed 0.5% Cu and are similar to grades encountered in the
initial drill holes at the Haquira East discovery in the earliest stages of
drilling. Gold grades at Cristo de los Andes are notably higher than at Haquira
and are associated with the presence of bornite.


Drill hole ACAD-003 is located a further 100 m to the south-southeast of
ACAD-002 and extends the drill-tested strike length of the mineralized zone to a
minimum of 300 m. Drill holes ACAD-004 and ACAD-005 are on the same drill
section as ACAD-001 where they are located at 100 m intervals to the
north-northeast, providing a complete profile of the width of the mineralized
zone. As the holes move progressively to the northeast they encounter less
sedimentary wall rock and enter into the intrusive/breccia complex at shallower
depths. The minimum width of the mineralized zone as determined by the ACAD-001,
ACAD-004, ACAD-005 section is 200 m.


The initial phase of drilling at Cristo de los Andes has been completed with a
total of 4,265 m in 15 holes. Assays are pending for the remaining 10 drill
holes and will be reported as they become available. The principal objectives of
this drilling campaign are to determine the lateral extent of secondary
mineralization and establish sufficient pierce points into underlying primary
mineralization to determine the optimal point to focus additional exploration
for primary sulphide mineralization.




----------------------------------------------------------------------------
Table 1 - Significant drill intercepts Cristo de los Andes - Holes ACAD-001
to ACAD-005
----------------------------------------------------------------------------
             from     to  Length              %    Au
Drill-hole     (m)    (m)     (m)  Cu% soluable   g/t    Mo%    Comments
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
                                                              secondary
ACAD-001    31.20  61.20   30.00 0.60        73 0.035 0.005   only
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
TD =                                                          secondary
 400.50 m  108.20 123.35   15.15 0.36        89 0.015 0.020   only
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           169.80 216.10   46.30 0.38        33 0.043 0.013   primary only
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           240.75 267.50   26.75 0.41        11 0.068 0.013   primary only
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           312.25 374.55   62.30 0.30        41 0.043 0.008   mixed
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
ACAD-002     6.20  40.30   34.10 1.19        77 0.161 0.035   secondary only
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
                                                              secondary
 including  29.65  40.30   10.65 3.07        91 0.370 0.012   only
----------------------------------------------------------------------------
                                                              0.2% Cu
TD =                                                          cut-off;
 405.35 m   81.35 111.60   30.25 0.40        62 0.053 0.019   mixed
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           148.10 213.85   65.75 0.47        20 0.197 0.008   primary only
----------------------------------------------------------------------------
 including 190.00 209.50   19.50 0.71         8 0.578 0.007
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           262.50 399.10  136.60 0.34        49 0.049 0.005   mixed
----------------------------------------------------------------------------
 including 373.45 388.20   14.75 0.52        61 0.099 0.006
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
 ACAD-003   32.60  58.50   25.90 1.56        51 0.104 0.008   mixed
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
 including  48.45  58.50   10.05 2.50        41 0.219 0.016   mixed
----------------------------------------------------------------------------
                                                              0.2% Cu
TD =                                                          cut-off;
 416.30 m  150.05 162.35   12.30 0.47         6 0.009 0.009   primary only
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           194.85 206.40   11.55 0.27         9 0.009 0.006   primary only
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           213.00 228.75   15.75 0.29         8 0.022 0.012   primary only
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           251.80 298.00   46.20 0.41         8 0.034 0.005   primary only
----------------------------------------------------------------------------
 including 258.15 276.20   18.05 0.62         8 0.043 0.004
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
 ACAD-004    0.00  27.85   27.85 1.71        86 0.358 0.022   secondary only
----------------------------------------------------------------------------
                                                              0.2% Cu
TD =                                                          cut-off;
 345.30 m   37.65  91.00   53.35 0.51        20 0.032 0.009   primary only
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           103.00 150.00   47.00 0.74        76 0.089 0.006   secondary only
----------------------------------------------------------------------------
 including 118.05 131.10   13.05 1.91        86 0.237 0.008
----------------------------------------------------------------------------
                                                              0.2% Cu
           188.00 293.00  105.00 0.36        54 0.048 0.006   cut-off; mixed
----------------------------------------------------------------------------
 including 233.00 261.00   28.00 0.51        52 0.078 0.008
----------------------------------------------------------------------------
                                                              0.2% Cu
           330.00 345.30   15.30 0.34        70 0.046 0.005   cut-off; mixed
----------------------------------------------------------------------------
                                                              0.2% Cu
 ACAD-005   34.20  87.00   52.80 0.35        61 0.027 0.003   cut-off; mixed
----------------------------------------------------------------------------
                                                              0.2% Cu
TD =                                                          cut-off;
 246.55 m  149.35 182.20   32.85 0.35        54 0.058 0.003   mixed
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           192.30 204.00   11.70 0.27        70 0.023 0.003   mixed
----------------------------------------------------------------------------
                                                              0.2% Cu
                                                              cut-off;
           232.70 246.55   13.80 0.25        31 0.038 0.011   primary only
----------------------------------------------------------------------------
----------------------------------------------------------------------------



Please refer to the Antares website at www.antaresminerals.com for drill-hole
location maps, geological cross-sections and additional information about the
Cristo de los Andes target and the Haquira Copper project.


About the Cristo de los Andes target and the Haquira Copper Project, Peru

The Haquira project offers potential for a low-strip, low-cost SX-EW copper
operation in southern Peru as well as a good opportunity for an underlying
higher grade primary porphyry copper-molybdenum mill/concentrator operation. The
project is located contiguous to, and immediately south of, Xstrata Copper's Las
Bambas Cu-Au project and consists of two blocks of property optioned under
separate agreements as well as additional concessions acquired by Antares for a
total of 20,635 hectares of area. Antares has an option agreement with Minera
Phelps Dodge del Peru S.A.C. to acquire a 100% interest in the original Haquira
project by completing optional payments totalling US$15 million over a five-year
period (see Antares press release dated March 17, 2005). A total of US$10
million has been paid to date with the remaining US$5.0 million due on or before
March 4, 2010. Antares also has an option agreement with Minera del Suroeste
S.A.C. (MISOSA), a wholly owned subsidiary of Hochschild Mining PLC, whereby
Antares can acquire up to a 60% interest in the Cristo de los Andes project,
located contiguous to, and immediately south of the Haquira project (April 28,
2008). Antares can acquire an initial 51% interest in the Cristo de los Andes
project by completing 12,000 m of drilling, making US$1,050,000 in payments and
granting MISOSA a production royalty of US$0.005/lb of Antares' share of copper
production exceeding 500,000,000 lbs from the Cristo de los Andes Property.
Antares also has the option to acquire an additional 9% interest in the project
for a total of 60% by electing to complete a bankable feasibility study within
five years.


Antares has announced an updated resource estimate (October 9, 2007) and
Preliminary Economic Assessment (May 14, 2008) for the near-surface, SX-EW
amenable portion of the Haquira project. Haquira hosts an indicated resource of
133.7 million tonnes at 0.53% total Cu with an additional inferred resource of
43.6 million tonnes at 0.44% total Cu (0.3% total Cu cut-off, leachable
secondary copper sulphide and oxide mineralization only). This resource is
projected to support a 50,000 t/d SX/EW heap leach operation that will produce
an average of 109 million lbs of copper cathode for 11 years of mine life. The
capital cost to construct the operation is estimated at US$301 million with a
projected IRR of 26.9% and an NPV of US$224 million utilizing a copper price of
US$2.00/lb and a discount rate of 8%. 


Antares has also recently announced the first interim resource estimate for the
underlying primary Cu-Mo-Au mineralization at the Haquira East zone based upon
drill holes up to AHAD-120 (November 24, 2008). The Haquira East primary
mineralization includes an indicated resource of 147.9 million tonnes at 0.57%
Cu and 0.015% Mo, an inferred resource to a depth of 700m of 205.2 million
tonnes at 0.56% Cu and 0.014% Mo and an additional inferred resource below 700 m
depth of 99.4 million tonnes at 0.46% Cu and 0.008% Mo. Mineralization remains
open to depth and several directions laterally. Additional drill holes that have
been released after the completion of the interim resource calculation include
hole AHAD-159 which intersected 937 m of 1.14% Cu, 0.034% Mo and 0.1 g/t Au -
the best hole completed at Haquira to date.


About Antares

Antares is a successful mineral exploration company with highly experienced
technical and management teams. The Company is focused on precious and
base-metal exploration properties in Latin America that can be quickly and
cost-effectively advanced to the discovery and production stage. In addition to
the Haquira Project in Peru, Antares is also currently exploring the Rio Grande
(Cu-Au porphyry) project in Salta Province of NW Argentina in a 50/50
option/joint-venture basis with Pachamama Resources Ltd., a spin-off from
Mansfield Minerals Inc.


All of Antares' exploration programs and pertinent disclosure of a technical or
scientific nature are prepared by, or prepared under the direct supervision of
John Black, Antares' President, who serves as the qualified person (QP) under
the definitions of National Instrument 43-101. 


Antares' security, chain of custody and quality control is described on their
website and can be reviewed at:


http://www.antaresminerals.com/bestpractices/samplingmethodologies.

Mineral resources do not have demonstrated economic viability and future in-fill
drilling and scoping, pre-feasibility and feasibility studies will determine
what percentage of the inferred resource can be placed into the mineable
category. Antares is not aware of any environmental, permitting, legal, title,
taxation, socio-political, marketing or other issue which may materially affect
this estimate of mineral resources.


Certain disclosure in this release, including management's assessment of
Antares' plans and projects, constitutes forward-looking statements that are
subject to numerous risks, uncertainties and other factors relating to Antares'
operation as a mineral exploration company that may cause future results to
differ materially from those expressed or implied. Readers are cautioned not to
place undue reliance on forward-looking statements.