Antares Reports a Significant Increase in Resources at the Haquira Cu-Mo-Au Project, Peru

Antares Minerals Inc. ("Antares")(TSX VENTURE:ANM) is very pleased to announce
the completion of an updated independent National Instrument ("NI") 43-101
compliant resource estimate for its Haquira Cu-Mo-Au project in southern Peru.
The new resource represents a substantial increase in both tonnes and grades
from previous estimates.


The updated resource estimate was prepared by Tetra Tech, Inc. of Golden,
Colorado ("Tetra Tech"). 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
----------------------------------------------------------------------------
                              Cu                                      lbs Cu
Resource           Tonnes  Eq(i)   Cu    Mo    Au   Ag     lbs Cu      Eq(i)
Classification (millions)      %    %     %   g/t  g/t (billions) (billions)
----------------------------------------------------------------------------
Primary Copper Mineral Resources (Mill/Concentrate) - 0.3% Cu cut-off       
----------------------------------------------------------------------------
Measured             68.9   0.78 0.64 0.015 0.045 1.84       0.97       1.18
----------------------------------------------------------------------------
Indicated           285.7   0.75 0.63 0.014 0.044 1.78       3.93       4.74
----------------------------------------------------------------------------
Inferred            333.7   0.62 0.54 0.009 0.032 1.59       3.94       4.59
----------------------------------------------------------------------------
Secondary Copper Mineral Resources (leachable - SX/EW) - 0.2% Cu cut-off    
----------------------------------------------------------------------------
Measured             59.4   0.52 0.52                        0.68       0.68
----------------------------------------------------------------------------
Indicated           155.6   0.44 0.44                        1.52       1.52
----------------------------------------------------------------------------
Inferred             72.2   0.41 0.41                        0.65       0.65
----------------------------------------------------------------------------



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

"We are very pleased by the substantial increase in the size and grade of the
Haquira resource. The total amount of in-situ copper at Haquira expanded by 38%
from 8.5 billion lbs to 11.7 billion lbs and average grades increased for both
primary and secondary mineralization. The total resource at Haquira has now
surpassed a critical threshold of over 10 billion pounds of contained copper
metal, making Haquira one of the largest undeveloped copper projects controlled
by a junior exploration company. We are particularly pleased that the average
grade of the measured and indicated primary mineralization now exceeds 0.6% Cu
at a cut-off grade of 0.3% Cu. This higher grade will serve to distinguish
Haquira from many other known large copper projects. The presence of
near-surface secondary copper mineralization is another feature that
distinguishes Haquira from other copper development opportunities. We are now in
the process of evaluating the potential for a two-staged copper mining operation
whereby the mine commences with a low-capital, low-cost SX-EW copper-leaching
operation producing LME_grade copper cathode followed by a larger-scale,
mill/concentrate operation producing copper and molybdenum concentrates with a
significant gold byproduct. Our goal is to report the results of this
preliminary economic assessment next quarter."


An updated NI 43-101 Technical Report on the Haquira project will be available
within 45 days on SEDAR at www.sedar.com. Mineral resources do not have any
demonstrated economic viability and future in-fill drilling and scoping,
pre-feasibility, and feasibility studies will determine what percentage of the
inferred, indicated, and measured resources can be placed into the mineable
category. Antares Minerals Inc is not aware of any environmental, permitting,
legal, title, taxation, socio-political, marketing or other issues which may
materially affect this estimate of mineral resources.


Tables 2-6 below provide for a more complete summary of the resource estimate as
well as a comparison between the new (this release) and the previous (see press
release of November 24, 2008) resource estimates for Haquira. Please refer to
the Antares website at www.antaresminerals.com for additional geological
information, including drill-hole location maps, geological cross-sections,
resource model sections and other information about the Haquira Copper project.




----------------------------------------------------------------------------
 Table 2. Haquira Primary Mineral Resources - All Zones - Variable Cut Offs 
----------------------------------------------------------------------------
Measured and Indicated Mineral Resources                                    
----------------------------------------------------------------------------
                    Cu Eq(i)                                        Cu Eq(i)
Cut-off      tonnes       %    Cu%   Mo% Au g/t Ag g/t     Cu lbs        lbs
Cu %    (thousands)                                    (billions) (billions)
----------------------------------------------------------------------------
0.7         110,410    1.163 0.969 0.020  0.076  2.804       2.36       2.83
----------------------------------------------------------------------------
0.6         151,284    1.061 0.883 0.019  0.068  2.549       2.94       3.54
----------------------------------------------------------------------------
0.5         211,057    0.947 0.788 0.017  0.059  2.257       3.67       4.40
----------------------------------------------------------------------------
0.4         277,322    0.851 0.706 0.016  0.051  2.000       4.32       5.20
----------------------------------------------------------------------------
0.3         354,639    0.757 0.628 0.014  0.044  1.790       4.91       5.92
----------------------------------------------------------------------------
0.25        413,046    0.698 0.578 0.013  0.040  1.688       5.26       6.36
----------------------------------------------------------------------------
0.2         488,740    0.633 0.523 0.012  0.036  1.583       5.63       6.82
----------------------------------------------------------------------------
Inferred Mineral Resources                                                  
----------------------------------------------------------------------------
                    Cu Eq(i)                                        Cu Eq(i)
Cut-off      tonnes       %    Cu%   Mo% Au g/t Ag g/t     Cu lbs        lbs
Cu %    (thousands)                                    (billions) (billions)
----------------------------------------------------------------------------
0.7          47,891    1.235 1.073 0.013  0.093  3.481       1.13       1.30
----------------------------------------------------------------------------
0.6          84,621    1.024 0.886 0.012  0.071  2.813       1.65       1.91
----------------------------------------------------------------------------
0.5         133,669    0.876 0.758 0.011  0.056  2.346       2.23       2.58
----------------------------------------------------------------------------
0.4         220,754    0.734 0.634 0.010  0.042  1.843       3.09       3.57
----------------------------------------------------------------------------
0.3         333,673    0.623 0.535 0.009  0.032  1.491       3.94       4.59
----------------------------------------------------------------------------
0.25        448,805    0.547 0.468 0.008  0.027  1.295       4.64       5.41
----------------------------------------------------------------------------
0.2         611,707    0.472 0.403 0.007  0.023  1.137       5.43       6.37
----------------------------------------------------------------------------



(i) CuEQ = Copper Equivalent is calculated for intervals dominated by primary
mineralization using US$1.50/lb Cu, US$500/oz Au, US$10/oz Ag and US$10.00/lb Mo
and is not adjusted for metallurgical recoveries as these remain uncertain.
Metallurgical recoveries and net smelter returns are assumed to be 100%. The
formula used is as follows: CuEQ = Cu% + (Au g/t x 0.4862) + (Mo% x 10.00/1.50)
+ (Ag g/t x 0.0077). Copper Equivalent contributions are only applied to primary
sulphide mineralization.




----------------------------------------------------------------------------
Table 3. Haquira Secondary Mineral Resources - All Zones - Variable Cut Offs
----------------------------------------------------------------------------
Measured and Indicated Mineral Resources                                    
----------------------------------------------------------------------------
                                                                    Cu Eq(i)
Cut-off      tonnes Cu Eq(i) %   Cu% Mo% Au g/t Ag g/t     Cu lbs        lbs
Cu %    (thousands)                                    (billions) (billions)
----------------------------------------------------------------------------
0.7          33,068      1.035 1.035                         0.75       0.75
----------------------------------------------------------------------------
0.6          46,380      0.924 0.924                         0.94       0.94
----------------------------------------------------------------------------
0.5          66,105      0.812 0.812                         1.18       1.18
----------------------------------------------------------------------------
0.4          93,637      0.705 0.705                         1.45       1.45
----------------------------------------------------------------------------
0.3         135,897      0.593 0.593                         1.78       1.78
----------------------------------------------------------------------------
0.25        171,700      0.526 0.526                         1.99       1.99
----------------------------------------------------------------------------
0.2         214,968      0.466 0.466                         2.21       2.21
----------------------------------------------------------------------------
Inferred Mineral Resources                                                  
----------------------------------------------------------------------------
                                                                    Cu Eq(i)
Cut-off      tonnes Cu Eq(i) %   Cu% Mo% Au g/t Ag g/t     Cu lbs        lbs
Cu %    (thousands)                                    (billions) (billions)
----------------------------------------------------------------------------
0.7           5,631      0.977 0.977                         0.12       0.12
----------------------------------------------------------------------------
0.6          12,382      0.799 0.799                         0.22       0.22
----------------------------------------------------------------------------
0.5          19,790      0.711 0.711                         0.31       0.31
----------------------------------------------------------------------------
0.4          26,419      0.644 0.644                         0.38       0.38
----------------------------------------------------------------------------
0.3          40,536      0.540 0.540                         0.48       0.48
----------------------------------------------------------------------------
0.25         52,934      0.478 0.478                         0.56       0.56
----------------------------------------------------------------------------
0.2          72,162      0.410 0.410                         0.65       0.65
----------------------------------------------------------------------------



Tables 1 and 2 above summarized all resources for the Haquira project. Tables 4
and 5 below show the proportional distribution of the mineral resources between
the Haquira East and Haquira West deposits.




----------------------------------------------------------------------------
       Table 4. Mineral Resource Summary Haquira East - February 2010       
----------------------------------------------------------------------------
Resource                Cu                                            lbs Cu
Classific-    tonnes Eq(i)     Cu     Mo     Au     Ag     lbs Cu      Eq(i)
 ation    (millions)     %      %      %    g/t    g/t (billions) (billions)
----------------------------------------------------------------------------
Primary Copper Sulphide Mineral Resources  - 0.3% Cu cut-off                
----------------------------------------------------------------------------
Meas + Ind     299.9  0.78 0.6413 0.0152 0.0484 1.7835       4.24       5.16
----------------------------------------------------------------------------
Inferred       265.6  0.66 0.5589 0.0102 0.0376 1.6121       3.27       3.85
----------------------------------------------------------------------------
Secondary Copper (leachable)  Mineral Resources - 0.2% Cu cut-off           
----------------------------------------------------------------------------
Meas + Ind      84.50.5074 0.5074                            0.95       0.95
----------------------------------------------------------------------------
Inferred        36.50.4877 0.4877                            0.39       0.39
----------------------------------------------------------------------------


----------------------------------------------------------------------------
Table 5. Mineral Resource Summary Haquira West - February 2010              
----------------------------------------------------------------------------
Resource                Cu                                            lbs Cu
Classific-    tonnes Eq(i)     Cu     Mo     Au     Ag     lbs Cu      Eq(i)
 ation    (millions)     %      %      %    g/t    g/t (billions) (billions)
----------------------------------------------------------------------------
Primary Copper Sulphide Mineral Resources  - 0.3% Cu cut-off                
----------------------------------------------------------------------------
Meas + Ind      54.7  0.64  0.553  0.009  0.021  1.826       0.67       0.77
----------------------------------------------------------------------------
Inferred        68.1  0.49  0.442  0.005  0.012  1.021       0.66       0.73
----------------------------------------------------------------------------
Secondary Copper (leachable)  Mineral Resources - 0.2% Cu cut-off           
----------------------------------------------------------------------------
Meas + Ind     130.4 0.438  0.438                            1.26       1.26
----------------------------------------------------------------------------
Inferred        35.6 0.331  0.331                            0.26       0.26
----------------------------------------------------------------------------



Table 6 shows a comparison between the new updated resource estimate presented
in this news release and the previous resource estimate for the Haquira project
(see news release of November 24, 2008). 




-----------------------------------------------------
  Table 6. Haquira Project Primary Mineralization - 
                      All Zones
-----------------------------------------------------
Measured + Indicated     FEB 2010  NOV 2008  % change
-----------------------------------------------------
tonnes (millions)           354.6     147.9      +140
-----------------------------------------------------
Cu EQ%                      0.757     0.710        +7
-----------------------------------------------------
Cu %                        0.628     0.570       +10
-----------------------------------------------------
Mo %                        0.014     0.015        -7
-----------------------------------------------------
Au g/t                      0.044     0.054       -19
-----------------------------------------------------
Ag g/t                      1.790     1.630       +10
-----------------------------------------------------
lbs Cu (billions)            4.91      1.86      +164
-----------------------------------------------------
lbs Cu EQ (billions)         5.92      2.31      +156
-----------------------------------------------------
                                                     
-----------------------------------------------------
Inferred                 FEB 2010  NOV 2008  % change
-----------------------------------------------------
tonnes (thousands)          333.7     349.9        -5
-----------------------------------------------------
Cu EQ%                      0.623                    
-----------------------------------------------------
Cu %                        0.535     0.522        +2
-----------------------------------------------------
Mo %                        0.009                    
-----------------------------------------------------
Au g/t                      0.032                    
-----------------------------------------------------
Ag g/t                      1.491                    
-----------------------------------------------------
lbs Cu (billions)            3.94      4.03        -2
-----------------------------------------------------
lbs Cu EQ (billions)         4.59                    
-----------------------------------------------------


-----------------------------------------------------
 Haquira Project Secondary Mineralization - All Zones
-----------------------------------------------------
Measured + Indicated     FEB 2010  NOV 2008  % change
-----------------------------------------------------
tonnes (millions)             215     212.3        +1
-----------------------------------------------------
Cu %                        0.466     0.423       +10
-----------------------------------------------------
lbs Cu (billions)            2.21      1.98       +12
-----------------------------------------------------
                                                     
-----------------------------------------------------
Inferred                 FEB 2010  NOV 2008  % change
-----------------------------------------------------
tonnes (thousands)           72.2      77.2        -6
-----------------------------------------------------
Cu %                        0.410     0.358       +15
-----------------------------------------------------
lbs Cu (billions)            0.65      0.61        +7
-----------------------------------------------------



Preparation of the Updated NI 43-101 Resource Estimate

This updated Haquira resource estimate is based on a total of 299 drill holes
(75,812 m) and includes all drilling at the project through to the end of 2009.
Most of the holes have been drilled on a grid with approximately 100-150-m
spacing between holes and with the majority of the holes drilled to the NE (055
degrees) at an inclination of -80 degrees (please refer to Antares website for
additional information about drill hole locations and results). 


The resource estimate was prepared by the mineral resource and mining division
of Tetra Tech Inc, an industry leading international engineering firm, utilizing
standard industry software (GEMCOM) and resource estimation methodology (whole
block kriging). The mineral resource estimates for the Haquira project at a
range of copper cut-off vales are presented in Table 2 for primary
(mill/concentrate) mineralization and Table 3 for secondary (leachable)
mineralization.


Previous Haquira project resource estimates include a study prepared by
Chlumsky, Armbrust, and Meyer L.L.C., ("CAM") of Denver, Colorado (see press
releases of October 9, 2007) which focused on the near-surface, leachable
secondary copper mineralization of both the Haquira East and Haquira West zones.
CAM also reported a small amount of underlying primary resource based on a
limited amount of shallow drilling. The first interim resource estimation for
the newly discovered Haquira East primary deposit was completed by Tetra Tech
(see press release of November 24, 2008) and included drill holes up to
AHAD-120.


Qualified Persons

Antares Minerals Inc. has retained Tetra Tech of Golden, Colorado and Aker
Kaverner of Tucson, Arizona as the co-lead contractors to complete preliminary
economic assessment (PEA) and pre-feasibility (PFS) studies for the Haquira
Cu-Mo-Au project. The mineral resource estimate presented here was completed by
or under the direction of John Rozelle, PG, Tetra Tech's Mineral Resource
Division Principal Geologist and an independent Qualified Person as set forth by
NI 43-101.


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 and CEO, who serves as the qualified person (QP)
under the definitions of National Instrument 43-101. Antares' security, chain of
custody and quality control procedures are described on their website under the
section on best practices - sampling methodologies.


About the Haquira Copper Project, Peru

The Haquira project is located in southern Peru and 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. 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 (see Antares press release dated April
28, 2008). 


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. Mineralization at Haquira occurs within
two deposits (Haquira East and Haquira West) with a combined 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.


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

The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.


(i) CuEQ = Copper Equivalent is calculated for intervals dominated by primary
mineralization using US$1.50/lb Cu, US$500/oz Au, US$10/oz Ag and US$10.00/lb Mo
and is not adjusted for metallurgical recoveries as these remain uncertain.
Metallurgical recoveries and net smelter returns are assumed to be 100%. The
formula used is as follows: CuEQ = Cu% + (Au g/t x 0.4862) + (Mo% x 10.00/1.50)
+ (Ag g/t x 0.0077). Copper Equivalent contributions are only applied to primary
sulphide mineralization.


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 under the section on best practices - sampling methodologies.


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.