Antares completes final closing of $30 million equity offering

    WATERDOWN, ON, Nov. 26 /CNW Telbec/ - (TSX Venture: ANM) - Antares
Minerals Inc. ("Antares") announced today that is has completed the final
closing of the private placement equity offering announced October 30, 2007,
by issuing a total of 3,260,900 units ("Units") of Antares to affiliated funds
and a managed entity of Farallon Capital Management(R), L.L.C., at a price of
$4.60 per Unit for gross proceeds of approximately $15 million. Each Unit
consisted of one common share and one-half of one common share purchase
warrant of Antares, each whole warrant entitling the holder to acquire one
common share at an exercise price of $6.00 per share until May 21, 2009. The
total equity offering resulted in the issuance by Antares of 6,521,800 Units
at a price of $4.60 per Unit for total gross proceeds of $30 million.
    Antares intends to use the net proceeds of the equity offering to fund
further development of its Haquira and Rio Grande properties and for general
working capital purposes.
    All of the common shares and warrants issued by Antares pursuant to the
private placement are subject to a four month hold period under Canadian
securities laws.

    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 most
advanced project is the Haquira copper project in south-central Peru,
immediately adjacent to the Las Bambas Project of Xstrata Copper. A drill
program to delineate recently discovered high-grade primary porphyry
copper-molybdenum-gold mineralization beneath the secondary copper blanket at
the Haquira East zone is currently underway. 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.

    Certain statements in this news release, including 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 such forward-looking statements.
Furthermore, the forward-looking statements contained in this news release are
made as at the date of this news release and Antares does not undertake any
obligation to update publicly or to revise the forward-looking statements,
whether as a result of new information, future events or otherwise, except as
may be required by applicable securities laws.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    %SEDAR: 00008329E

For further information:

For further information: please visit the company's website at or contact: John Black, President and Chief Executive
Officer, (720) 514-9036, Cell: (303) 618-7797,;
Mark Wayne, Chief Financial Officer, (403) 705-4968; Broadgate Consultants,
LLC: Alan Oshiki:, (212) 232-2354; Renmark Financial
Communications Inc.: John Boidman:; Jason Roy:; Media - Eva Jura:, (514)
939-3989, Fax: (514) 939-3717,

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