Antares Commences 15,000 m Drill Program at Rio Grande Copper-Gold Project, Argentina



    WATERDOWN, ON, June 4 /CNW Telbec/ - Antares Minerals Inc. ("Antares",
ANM.TSX-V) announces that a 15,000 m drill program has started on the Rio
Grande copper-gold porphyry project in northwestern Argentina. Antares is
earning a 50% interest in the Rio Grande project pursuant to an agreement with
Mansfield Minerals Inc. ("Mansfield", MDR.TSX-V). Antares will complete the
required expenditures to vest its 50% interest in the property within the next
30 days. Upon vesting, Antares and Mansfield will enter into a definitive
joint venture agreement to fund ongoing development at Rio Grande on a
50/50 basis with Antares as the operator.
    Two rigs are currently drilling and a third rig has just arrived on the
property and will commence drilling within the next few days. The objectives
of the program are (1) to follow-up on encouraging results from previous
drilling campaigns in the Sofia and Discovery Zones, (2) to drill test the
remaining two-thirds of the system that has not been adequately explored to
date, and (3) to provide an initial drill test of the satellite Northeast
Target which bears geological and geochemical similarities to the nearby
Lindero gold deposit owned 100% by Mansfield..
    In September 2006, Antares announced the results of a 10-hole (3382 m)
drill program at Rio Grande. Six of the holes were designed to test the
continuity and extent of the mineralization partially defined in the Discovery
and Sofia Zones in previous drill programs. All of these holes intercepted
significant intervals of copper-gold mineralization and two holes drilled to
test the deeper extensions of the Sofia Zone discovered increased copper and
gold grades that remain open at depth (see summary of results below and the
Antares press release dated September 5, 2006 for full details of the results
from the 10-hole program.

    
    RGA-06-24 128 m with 0.71 g/t Au and 0.47% Cu  (62-190 m depth)
    RGA-06-26 158 m with 0.51 g/t Au and 0.46% Cu (167-325 m depth)
     including 58 m with 0.67 g/t Au and 0.54% Cu (167-225 m depth)

    In January, 2007 Antares announced assay results for the first five
trenches (1696 m) of a twenty-five trench program at Rio Grande. The reported
results were from the previously poorly exposed North Zone. The highlights
from the five trenches include: Trench T-42 with 48 m at 0.47 g/t Au and
0.29% Cu and Trench T-44A - with 54 m at 0.48 g/t Au and 0.37% Cu (0.2% Cu
cut-off). These results clearly delineate the surface expression (0.1% Cu
cut-off) of the North Target as a 60-200 m wide zone that extends for more
than 800 m to the west of the Sofia Zone where prior drilling had encountered
encouraging results beneath similar surface manifestations, as noted above
(see Antares press release dated January 31, 2007).
    The 2006-07 trenching program (25 trenches, 4646 m of bedrock) has been
completed and all assay results have been received (please see Antares website
- www.antaresminerals.com - for a summary of significant results and a
location diagram). Significant new results are as follows:

    - The Discovery Zone has been extended approximately 100 m to the west
      with results from Trench 57A (20 m of 0.24 g/t Au and 0.28% Cu) and
      Trench 57B (30 m of 0.56 g/t Au and 0.36% Cu, plus 24 m of 0.48 g/t Au
      and 0.46% Cu, plus 30 m of 0.35 g/t Au and 0.46% Cu).
    - The North Zone has been extended by 150 m to the west with Trench 47
      (16 m with 0.41 g/t Au and 0.36% Cu and 10 m with 0.31 g/t Au and
      0.26% Cu).
    - Trench 53 exposed 63 m of 0.39 g/t Au and 0.57% Cu in the Sofia zone
      immediately above the drill fan that includes RGA-06-24 and RGA-06-26
      (reported above)
    - Trench 56 intersected anomalous gold values (28 m of 0.21 g/t Au and
      26 m of 0.14 g/t Au with individual 2 m intervals up to 0.5 g/t Au)
      associated with quartz-magnetite veining in intermediate intrusive
      rocks along the eastern margin of the Northeast Target.  The
      mineralization style is very similar to that of the nearby Lindero gold
      deposit of Mansfield.
    

    The majority of the previously unreported trenches are located inboard of
the projected mineralized ring fracture along the western and northern
portions of the system and did not expose significant areas of mineralization
(please refer to 2006-07 trenching diagram on Antares website -
www.antaresminerals.com). Thicker colluvial cover prevented effective
trenching across the most favorable portions of the western side of the
system.

    About the Rio Grande Project, Salta Province, Argentina

    The Rio Grande project is very favorably located along the prominent
northwest-trending Archibarca Lineament which also controls the location of
the world-class giant Escondida porphyry copper deposit 150 km to the
northwest in Chile. The Rio Grande project shares many geologic similarities
with the Bajo de Alumbrera porphyry copper-gold deposit which is located along
a similar northwest-trending regional structural lineament approximately
300 km to the south.
    Copper-gold mineralization at Rio Grande occurs within a distinct two-km
diameter ring fracture zone defined by IP chargeability as well as copper and
gold soil geochemical anomalies. Exploration to date has focused on the better
exposed Discovery and Sofia zones along the south-eastern portion of the
system. Drilling and trenching in these areas has defined a copper-gold
mineralized zone 1500 m long, 80-200 m wide, with a minimum depth of 200 m.
Mineralization remains open in both directions along strike and to depth. An
extensive trenching program completed by Antares earlier this year was
successful in identifying additional drill targets on the property.
    Antares is earning a 50% interest in the Rio Grande project pursuant to
an agreement with Mansfield Minerals Inc. (MDR.TSX-V). Antares acts as
operator of the exploration programs for the joint venture.

    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. Antares' has
recently completed an extensive drilling program at its most advanced project,
the Haquira SX-EW copper project in south-central Peru, immediately adjacent
to the Las Bambas Project of Xstrata Copper. The Haquira project hosts an
inferred mineral resource, at a 0.3% total copper cut-off grade, of
156.3 million tonnes grading 0.49% copper amenable to SX-EW processing
(leachable copper oxides and secondary sulphides only). See Antares press
release dated February 14, 2006. An additional 97 drill holes were completed
in late 2006 and an updated resource estimate will be completed in the second
quarter of 2007. Antares has an option to acquire a 100% interest in the
Haquira project from Minera Phelps Dodge del Peru S.A.C. Antares is also
exploring the Rio Grande copper-gold porphyry project in NW Argentina pursuant
to an option/joint venture agreement with Mansfield Minerals Inc.

    The TSX Venture Exchange 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.
    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: Please 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; Mark Wayne, CFO, (403) 705-4968; Renmark
Financial Communications Inc.: John Boidman: boidman@renmarkfinancial.com;
Jason Roy: jroy@renmarkfinancial.com; Media - Adam Ross:
aross@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com; Broadgate Consultants, LLC: Alan Oshiki:
aoshiki@broadgate.com, (212) 232-2354

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