Antares announces best hole to date at Haquira east porphyry 746 m with 0.86% Cu and open to depth



    WATERDOWN, ON, Oct. 26 /CNW Telbec/ - Antares Minerals Inc. ("Antares";
ANM-TSX.V) is pleased to announce the results from four additional diamond
drill-holes at the Haquira Project in southern Peru. The objective of the
current drill program is to delineate recently discovered high-grade primary
porphyry copper-molybdenum-gold mineralization beneath the secondary copper
blanket at the Haquira East zone (see press releases of July 12 and August 09,
2007). Highlights from drill holes AHAD-100 through AHAD-103 (2,676.05 m
total) include:

    
    - AHAD-102 intercepts 746.15 m with 0.86% Cu

     - hole remains open to depth with final 10 m grading 0.59% Cu
     - hole terminated at 800 m due to depth limitation of drill rig
     - includes 194.00 m with 1.14% Cu and 0.14 g/t Au
     - includes 45.55 m with 1.05% Cu amenable to leaching at top of
       intercept

    - AHAD-103 intercepts 697.65 m with 0.51% Cu

     - Includes 452.40 m with 0.59% Cu
     - Includes 100.55 m with 0.70% Cu and 0.019% Mo

    - AHAD-100 AND AHAD-101 were drilled 100-200 m to the SE and SW of
      previous drilling

     - Both holes fall outside of the strongly mineralized porphyry stock and
       begin to delineate the southern margin of the Haquira East zone
     - Both holes host multiple lens of mineralized sedimentary wall rock cut
       by minor dikes
     - AHAD-101 hosts several zones of leachable secondary mineralization
       (24.55 m with 0.76% Cu, 10.75 m with 1.34% Cu, 12.95 m with 0.77% Cu,
       38.20 m with 0.49% Cu)

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

    "We continue to be excited with the results from delineation drilling at
Haquira East. AHAD-102 is the best hole drilled to date by Antares and it
still remains open to depth. The hole was terminated in more than 0.5% Cu when
we exceeded the depth capacity of the drill rig. With the exception of 50-85 m
of colluvial cover, both AHAD-102 and AHAD-103 were drilled entirely in
mineralized porphyry and indicate that the vertical extent of the Haquira East
zone is considerably greater than previously demonstrated. Delineation
drilling of the Haquira East primary porphyry zone continues with two rigs. We
appear to have partially defined the south-eastern limits of the principal
porphyry body and will now focus more on drilling to the north, west, and
southwest."
    "With respect to other activities at Haquira, preparation of a preliminary
economic assessment for the near-surface leachable portion of the Haquira
project is well underway with plans to present this as part of the updated
43-101 technical report to be filed before the end of November. We are
currently seeking additional rigs capable of drilling large diameter core in
order to collect bulk samples for column leach testing of the near-surface
leachable secondary copper mineralization as the project enters into the
pre-feasibility stage. Regarding other new exploration activities, a
multi-separation pole-dipole IP/resistivity survey has been initiated to
provide better definition of drill targets to test for additional primary
porphyry copper-molybdenum-gold mineralization beneath the larger area of
near-surface secondary copper mineralization at Haquira West."

    Discussion of Results

    A summary of the analytical results from drill holes AHAD-100 through
AHAD-103 is presented in the table below followed by a brief description of
the holes (please refer to the Antares website at www.antaresminerals.com for
drill-hole location maps, sections, and photos of drill core).


    -------------------------------------------------------------------------
    Drill-hole     from(m)     to(m) Length(m)       Cu%                 Mo%
    -------------------------------------------------------------------------
    AHAD-103         85.30    782.95    697.65      0.51     (less than)0.01
    -------------------------------------------------------------------------
      including     161.00    613.40    452.40      0.59     (less than)0.01
    -------------------------------------------------------------------------
      including     161.00    261.55    100.55      0.70               0.019
    -------------------------------------------------------------------------
    TD=
     782.95 m
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    AHAD-102         54.35    800.50    746.15      0.86               0.010
    -------------------------------------------------------------------------
     including       54.35    100.20     45.85      1.05                  na
    -------------------------------------------------------------------------
                     56.80    718.25    661.45      0.91               0.011
    -------------------------------------------------------------------------
     including      442.65    636.65    194.00      1.14     (less than)0.01
    -------------------------------------------------------------------------
    TD =
     800.50 m
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    AHAD-101         63.25     87.80     24.55      0.76                  na
    -------------------------------------------------------------------------
    TD =
     551.30 m       219.20    229.85     10.75      1.43                  na
    -------------------------------------------------------------------------
                    259.15    272.10     12.95      0.77                  na
    -------------------------------------------------------------------------
                    319.45    357.65     38.20      0.49                  na
    -------------------------------------------------------------------------
                    450.40    476.80     26.40      0.41     (less than)0.01
    -------------------------------------------------------------------------
                    496.05    511.90     15.85      0.30     (less than)0.01
    -------------------------------------------------------------------------
                    531.50    549.30     17.80      0.62     (less than)0.01
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    AHAD-100        172.10    186.30     14.20      0.37     (less than)0.01
    -------------------------------------------------------------------------
    TD =
     541.30 m       237.95    265.25     27.30      0.53               0.027
    -------------------------------------------------------------------------
                    390.10    400.70     10.60      0.39                  na
    -------------------------------------------------------------------------
                    452.30    493.75     41.45      0.49               0.036
    -------------------------------------------------------------------------
                    501.55    517.10     15.55      0.50               0.030
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    Drill-hole                          Au g/t        Cu            Comments
                                                    eq %
                                                     (*)
    -------------------------------------------------------------------------
    AHAD-103                    (less than)0.1      0.51   primary - 0.2% Cu
                                                                     cut-off
    -------------------------------------------------------------------------
     including                  (less than)0.1      0.59   primary - 0.5% Cu
                                                                     cut-off
    -------------------------------------------------------------------------
     including                  (less than)0.1      0.82             primary
    -------------------------------------------------------------------------
    TD =
     782.95 m                                                   no secondary
                                                              mineralization
                                                                     present
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    AHAD-102                    (less than)0.1      0.93  all mineralization
                                                           - 0.2% Cu cut-off
    -------------------------------------------------------------------------
     including                              na      1.05           secondary
    -------------------------------------------------------------------------
                                (less than)0.1      0.99  all mineralization
                                                           - 0.5% Cu cut-off
    -------------------------------------------------------------------------
     including                            0.14      1.20  primary - 0.75% cu
                                                                     cut-off
    -------------------------------------------------------------------------
    TD =
     800.50 m
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    AHAD-101                                na      0.76         secondary -
                                                             0.2% Cu cut-off
    -------------------------------------------------------------------------
    TD =
     551.30 m                               na      1.43         secondary -
                                                             0.2% Cu cut-off
    -------------------------------------------------------------------------
                                            na      0.77         secondary -
                                                             0.2% Cu cut-off

    -------------------------------------------------------------------------
                                            na      0.49    secondary -
                                                             0.2% Cu cut-off
    -------------------------------------------------------------------------
                                (less than)0.1      0.41   primary - 0.2% Cu
                                                                     cut-off
                                (less than)0.1      0.30   primary - 0.2% Cu
                                                                     cut-off
    -------------------------------------------------------------------------
                                (less than)0.1      0.62   primary - 0.2% Cu
                                                                     cut-off
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    AHAD-100                    (less than)0.1      0.37   primary - 0.2% Cu
                                                                     cut-off
    -------------------------------------------------------------------------
    TD =
     541.30 m                   (less than)0.1      0.71   primary - 0.2% Cu
                                                                     cut-off
    -------------------------------------------------------------------------
                                            na      0.39    secondary - 0.2%
                                                                  Cu cut-off
    -------------------------------------------------------------------------
                                (less than)0.1      0.71   primary - 0.2% Cu
                                                                     cut-off
    -------------------------------------------------------------------------
                                (less than)0.1      0.70   primary - 0.2% Cu
                                                                     cut-off
    -------------------------------------------------------------------------

    (*) Copper Equivalent is calculated for intervals dominated by primary
        mineralization using US$1.50/lb Cu, US$500/oz Au, and US$10.00/lb Mo
        and is not adjusted for metallurgical recoveries as these remain
        uncertain. Please note these metal prices have changed slightly from
        previous press releases. Metallurgical recoveries and net smelter
        returns are assumed to be 100%. The formula used is as follows: CuEQ
        = Cu% + (Au g/t x 10.72/22.05) + (Mo%  x 10.00/1.50).
        Copper Equivalent contributions from Au and Mo only occur if the
        grade of Au exceeds 0.1 g/t and/or the grade of Mo exceeds 0.01% and
        if the interval is dominated by primary sulphide mineralization.

    Drill-hole AHAD-103 was collared 124 m to the north of AHAD-098A on drill
section 2000 NW and drilled to the southwest at an azimuth of 255 degrees and
an inclination of -80 degrees. This is the first long drill hole on section
2000 NW. The hole encountered 85.3 m of colluvium cover prior to entering
directly into and remaining in Haquira porphyry with primary sulphide
mineralization associated with extensive sheeted and stockwork quartz veins.
The hole was consistently mineralized with the average grade dropping off to
approximately 0.3% Cu over the final 50 m before reaching a total depth of
782.95 m.
    Drill-hole AHAD-102 was collared 105 m to the north of AHAD-098A, on the
same 1900 NW drill section, and drilled to the southwest at an azimuth of
255 degrees and an inclination of -80 degrees (parallel to AHAD-098A and
offset by 100 m). The hole encountered 48 m of colluvium cover prior to
entering into and remaining in Haquira porphyry to a total depth of 800.50 m.
The hole is very well mineralized with abundant sheeted and stockwork quartz
veins. A thin (7 m) zone of leached capping overlies a 45.85 m secondary
copper zone grading 1.05% Cu with the majority of the copper as in situ
secondary copper oxides. The remainder of the hole is in primary copper
sulphide mineralization with grades often exceeding 1.00% copper. The hole was
terminated at 800.50 m when the drill rig was no longer capable of continuing.
The final 10 m of the hole average 0.59% copper.
    Drill holes AHAD-100 and AHAD-101 were drilled along the south-eastern
margin of the known extent of the Haquira East zone. AHAD-100 was collared
212 m to the southwest of AHAD-099 on the same section 1800 NW and with an
inclination of -80 degrees to the northeast (parallel to AHAD-099). AHAD-101
was drilled 136 m to the east-southeast of AHAD-099 on drill section 1700 NW
with an inclination of -80 degrees to the southwest. Both holes were drilled
almost entirely within sedimentary wall rocks outside of the principal
mineralized porphyry intrusion. The holes contain multiple, 10-40 m thick
zones of copper mineralization which are commonly associated with a few minor
porphyry dikes of 2-15 m widths. Mineralization in AHAD-100 is almost entirely
primary Cu sulphides but the upper half of AHAD-101 hosts several intervals of
secondary copper mineralization (see table above for further details.). Hole
AHAD-100 is notable for elevated Mo contents whereas the other three holes
tend to have 0.01% Mo or less. Holes AHAD-100 and AHAD-101 appear to be
defining the southern limit of the Haquira East zone with a sharp vertical
intrusive contact required between these holes and AHAD-099 and AHAD-098A to
the north.

    About Haquira

    The Haquira project offers potential for a low-strip, low-cost SX-EW
operation in southern Peru as well as a good opportunity for an underlying
higher grade primary porphyry copper-molybdenum deposit. The project is
located contiguous to, and immediately south of, the Las Bambas Cu-Au district
where Xstrata Copper has committed to invest US$121 million. Antares has an
option agreement with Minera Phelps Dodge del Peru S.A.C. ("Phelps Dodge") to
acquire a 100% interest in the Haquira project by completing optional payments
totalling US$15 million over a five-year period (see Antares press release
dated March 17, 2005). Additional information about the Haquira project is
available on our website at www.antaresminerals.com.
    Antares recently announced an updated resource estimate for the
near-surface, SX-EW amenable portion of the Haquira project (October 09, 2007)
and is in the process of completing the corresponding 43-101 technical report
which will also include a preliminary economic analysis. Based on 215 drill
holes completed through the end of 2006, 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(1,2) secondary copper sulphides and oxides only). The current
resource estimate does not incorporate any of the 2007 drilling that has been
focussed on delineation of the newly discovered high-grade primary
copper-molybdenum-gold zone beneath the Haquira East copper oxide zone.

    About Antares Minerals Inc.

    Antares is a successful mineral exploration company with a highly
experienced technical and management team. 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 with Minera Phelps Dodge del Peru S.A.C.,
Antares is also currently exploring the Rio Grande (Cu-Au porphyry) project in
Salta Province of NW Argentina in an option/joint-venture agreement with
Mansfield Minerals Inc.


    (1) "leachable" refers to the dissolution of copper into solution using
         sulphuric acid (secondary copper oxide mineralization) and bacteria
         (secondary copper sulphide mineralization) allowing the use of lower
         cost solvent extraction and electrowinning (SX-EW) technology as
         opposed to traditional flotation technology as the metallurgical
         extraction method. SX-EW requires significantly lower capital
         investment and eliminates the costly need to produce copper
         concentrates that require off-site smelting.
    (2)  All sample intervals are analyzed for total copper content.  Those
         samples that contain greater than 0.1% copper are also subjected to
         a sequential leach analysis to determine the leachability of the
         copper in the sample.  The sequential leach analysis consists of a
         sulphuric acid-soluble analysis (simulates leaching of copper
         oxides) and a sodium cyanide soluble analysis (simulates the
         leaching of secondary copper sulphides).  The sum of the two
         analyses gives the soluble copper estimate, a preliminary
         approximation of the percentage of copper in the sample that can be
         leached and recovered by SX-EW processing.

    

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

    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. A section of
the Antares website is dedicated to sampling, assay, and quality control
procedures.
    All diamond drilling at Haquira has been performed using HQ diameter core
with recoveries averaging greater than 95%. Core is logged and cut with a
diamond saw on site under the supervision of Antares geologists. Sampling is
done on intervals varying from 1-3 metres. Reverse-circulation drilling at
Haquira typically has recoveries averaging greater than 90% with some
exceptions in areas of difficult drilling conditions. Reverse circulation
drilling samples are routinely collected at 2 m intervals under the
supervision of Antares staff. All samples are transported by Antares vehicles
or contract transport, accompanied by Antares staff, to Arequipa, Peru for
direct shipping to ALS Chemex Laboratories in Lima. The QC/QA program includes
the insertion of control samples (known standards, blanks, and duplicates)
comprising a minimum of 10% of each sample batch.
    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.
    %SEDAR: 00008329E




For further information:

For further information: visit our website at www.antaresminerals.com or
contact: Antares Minerals Inc.: John Black, President and CEO, (720) 514-9036
office, (303) 618-7797 cellular, john.black@antaresminerals.com, 
www.antaresminerals.com; Mark Wayne, CFO, (403) 705-4968; Broadgate 
Consultants, LLC: Alan Oshiki, aoshiki@broadgate.com, (212) 232- 2354; Renmark
Financial Communications Inc.: John Boidman, jboidman@ renmarkfinancial.com;
Jason Roy, jroy@renmarkfinancial.com; Media - Eva Jura,
ejura@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

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