Antares Completes Exercise of Warrants by IFC

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.


Antares Minerals Inc. ("Antares" or the "Company") (TSX VENTURE:ANM) confirms
that IFC, a member of the World Bank Group, has completed the exercise of all
3,750,000 warrants to acquire 3,750,000 common shares of the Company for a total
subscription cost of $7,500,000, as originally announced on March 29, 2010.
These warrants were acquired by IFC in July of 2009 in connection with a private
placement.


As consideration for IFC agreeing to this early exercise of its warrants,
Antares has issued 1,875,000 new common share purchase warrants to IFC. Each new
warrant will entitle IFC to acquire a common share at an exercise price of $3.00
until July 22, 2014. In addition, the Company has granted IFC a contractual
right to participate in any future Antares financings to maintain its pro-rata
equity interest in the Company. IFC currently holds approximately 13.6% of the
outstanding common shares of Antares.


The new warrants issued pursuant to this transaction are subject to a four month
hold period in accordance with Canadian securities law.


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

"We appreciate IFC's support as a long-term equity partner and their flexibility
in identifying innovative solutions to meet our financing needs. This additional
investment by IFC will enable us to aggressively proceed with prefeasibility and
exploration drill programs at Haquira".


Mr. William Bulmer, Global Head of Mining for IFC, commented as follows:

"Antares has made significant progress at Haquira since IFC's initial equity
investment in July 2009, increasing the resource by 38 percent and thereby
establishing Haquira as a significant new copper discovery. We are excited to
strengthen our position as an equity partner and provide funding that will help
the company progress this project and provide benefits to Peru."


About IFC

IFC, a member of the World Bank Group, creates opportunity for people to escape
poverty and improve their lives. IFC fosters sustainable economic growth in
developing countries by supporting private sector development, mobilizing
private capital, and providing advisory and risk mitigation services to
businesses and governments. IFC's new investments totaled $14.5 billion in
fiscal 2009, helping channel capital into developing countries during the
financial crisis. For more information, visit www.ifc.org.


About Antares

Antares is focused on the acquisition and exploration of 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 on a 50/50 joint-venture
basis with Pachamama Resources Ltd., a spin-off from Mansfield Minerals Inc.


About the Haquira Copper Project, Peru

The Haquira project, 100% owned by Antares, is located in southern Peru
contiguous to, and immediately south of, Xstrata Copper's Las Bambas Cu-Au
project. The Haquira project offers excellent potential for an initial
low-strip, low-cost SX-EW copper operation with a subsequent transition to a
higher grade primary porphyry copper-molybdenum mill/concentrator operation.
Antares has recently announced an updated resource estimate for the Haquira
project (see press release of February 26th, 2010). The estimate encompasses all
the known mineralization at the Haquira East and Haquira West deposits as well
as the immediately surrounding areas (Potato Patch zone), but does not reflect
the mineralization recently discovered at the nearby Cristo de los Andes
prospect. It includes both the near-surface secondary (leachable) copper
mineralization as well as the underlying primary (mill/concentrate)
mineralization. This resource estimate utilizes all drilling completed to date
at the Haquira project (through drill hole AHAD-174). Highlights from this
interim resource estimate at a cut-off of 0.3% total Cu for primary
mineralization and 0.2% total Cu for leachable secondary mineralization are as
follows:




----------------------------------------------------------------------------
Table 1.                                                                   
Mineral Resource Summary Haquira Project - All Zones - February 2010       
----------------------------------------------------------------------------
Resource                   Tonnes        Cu Eq(1)         Cu             Mo
Classification          (millions)             %           %              %
----------------------------------------------------------------------------
Primary Copper Mineral Resources (Mill/Concentrate) - 0.3% Cu cut-off
----------------------------------------------------------------------------
Measured                     68.9           0.78        0.64          0.015
----------------------------------------------------------------------------
Indicated                   285.7           0.75        0.63          0.014
----------------------------------------------------------------------------
Inferred                    333.7           0.62        0.54          0.009
----------------------------------------------------------------------------
Secondary Copper Mineral Resources (leachable - SX/EW) - 0.2% Cu cut-off
----------------------------------------------------------------------------
Measured                     59.4           0.52        0.52               
----------------------------------------------------------------------------
Indicated                   155.6           0.44        0.44               
----------------------------------------------------------------------------
Inferred                     72.2           0.41        0.41               
----------------------------------------------------------------------------


----------------------------------------------------------------------------
Table 1.                                                                   
Mineral Resource Summary Haquira Project - All Zones - February 2010       
----------------------------------------------------------------------------
Resource                       Au             Ag      lbs Cu    lbs Cu Eq(1)
Classification                g/t            g/t   (billions)     (billions)
----------------------------------------------------------------------------
Primary Copper Mineral Resources (Mill/Concentrate) - 0.3% Cu cut-off
----------------------------------------------------------------------------
Measured                    0.045           1.84        0.97           1.18
----------------------------------------------------------------------------
Indicated                   0.044           1.78        3.93           4.74
----------------------------------------------------------------------------
Inferred                    0.032           1.59        3.94           4.59
----------------------------------------------------------------------------
Secondary Copper Mineral Resources (leachable - SX/EW) - 0.2% Cu cut-off
----------------------------------------------------------------------------
Measured                                                0.68           0.68
----------------------------------------------------------------------------
Indicated                                               1.52           1.52
----------------------------------------------------------------------------
Inferred                                                0.65           0.65
----------------------------------------------------------------------------



For further information: please visit our website at www.antaresminerals.com.

This press release is not an offer of securities for sale or solicitation of an
offer of securities for sale in the United States. The Company's securities have
not been, nor will be, registered under the United States Securities Act of
1933, as amended, (the "US Securities Act") or state securities laws and may not
be offered or sold in the United States or to US persons absent registration
under the US Securities Act and state securities laws or applicable exemptions
from the registration requirements of such laws.


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 the completion and closing of the
warrant exercise, management's assessment of Antares' plans and projects,
constitute 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.