Antares Announces Best Hole to Date at Haquira East Porphyry
746 m with 0.86% Cu and open to depth

October 26, 2007 (Waterdown, Ontario). 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

o hole remains open to depth with final 10 m grading 0.59% Cu
o hole terminated at 800 m due to depth limitation of drill rig
o includes 194.00 m with 1.14% Cu and 0.14 g/t Au
o 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

o Includes 452.40 m with 0.59% Cu
o 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

o Both holes fall outside of the strongly mineralized porphyry stock and begin to delineate the southern margin of the Haquira East zone
o Both holes host multiple lens of mineralized sedimentary wall rock cut by minor dikes
o 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).

(*) 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-10 1 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.

For more 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
www.antaresminerals.com     

Mark Wayne, CFO 
(403) 705-4968

Broadgate Consultants, LLC
Alan Oshiki: aoshiki@broadgate.com
Tel: (212) 232-2354

Renmark Financial Communications Inc.
John Boidman:  jboidman@renmarkfinancial.com
Jason Roy: jroy@renmarkfinancial.com
Media - Eva Jura: ejura@renmarkfinancial.com
Tel.: (514) 939-3989
Fax:  (514) 939-3717
www.renmarkfinancial.com

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.