Antares Intercepts 385 m Grading 0.74% Cu and 0.043% Mo in Second Deep
Hole at Haquira East Porphyry Discovery

Includes 297 m with 0.88% Cu and 0.052% Mo
which includes 178 m with 1.05% Cu and 0.080% Mo

August 9, 2007 (Waterdown, Ontario). Antares Minerals Inc. ("Antares"; ANM-TSX.V) is pleased to announce the results from the second hole of the current drilling program at the Haquira Project in southern Peru. The objective of the 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 3 and July 12, 2007).

AHAD-099 intersected a 384.80 m interval with 0.74% Cu and 0.043% Mo (1.03% Cu Equivalent) which includes a higher grade interval of 178.00 m with 1.05% Cu and 0.080% Mo (1.58% Cu Equivalent). Gold contents in AHAD-099 are less than 0.1 g/t. Highlights of the copper and molybdenum grades encountered are listed in the table below (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%.

Diamond drill-hole AHAD-099 was collared 100 m to the southeast of AHAD-098A (380.65 m with 0.67% Cu and 0.013% Mo - see press release of July 12, 2007) and drilled at an inclination of -80 degrees to the northeast (055 degrees) to a total depth of 563.90 m. The hole encountered post-mineral colluvium to a depth of 28 m and then entered into quartzite wall rocks prior to intersecting monzonite porphyry with extensive sheeted and stockwork quartz veins and associated copper sulphide mineralization from 200-403 m. A series of mineralized monzonite porphyry dikes cutting quartzite wall rock were intersected from 403-517 m and the hole was terminated in quartzite with lower grade (0.2% Cu) mineralization. The majority of the better grade Cu and Mo mineralization is hosted by the monzonite porphyry stock and dikes but mineralization also extends into the quartzite wall rocks.

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

"We are excited by the results of AHAD-099, the second hole to explore the full vertical extent of the Haquira East porphyry Cu-Mo discovery. The vertical range of mineralization in AHAD-099 is very similar to that of AHAD-098A but with notably higher grades of copper and particularly molybdenum. These grades are similar to those found at the bottoms of the nearby short holes AHAD-082 and AHAD-097 and this hole significantly increases the chance of outlining a sizable higher grade core to the porphyry system. We now have two rigs drilling at the project and are evaluating the possibility to add additional rigs in the near future. "

Discussion of Results

Drill-hole AHAD-099 was collared 100 m to the southeast of the previous drill-hole AHAD-098A on the adjacent northeast-striking drill section. The drill holes were each drilled at -80 degree inclinations but in opposite directions trending away from each other. AHAD-099 was designed to test for the continuation of mineralization below the previously reported interval intersected at the bottom of AHAD-082 (52.10 m with 1.10% Cu, 0.101% Mo, and 0.12 g/t Au - see press release of February 26, 2007).  AHAD-099 is located on the same drill section (1800NW) and 160 m to the SW of AHAD-082 and drilled to the NE (055 degrees) towards AHAD-082 at an inclination of -80 degrees so that it passes just below the bottom of AHAD-082 (please refer to the Antares website at www.antaresminerals.com for drill-hole location maps, sections, and photos of drill core).

AHAD-099 encountered post-mineral colluvium to a depth of 28 m and then entered into quartzite wall rocks prior to intersecting monzonite porphyry with extensive sheeted and stockwork quartz veins and associated copper sulphide mineralization from 200-403 m. A series of mineralized monzonite porphyry dikes cutting quartzite wall rock were intersected from 403-517 m and the hole terminates in quartzite with lower grade (0.2% Cu) mineralization. The majority of the better grade Cu and Mo mineralization is hosted by the monzonite porphyry stock and dikes but mineralization also extends into the quartzite wall rocks.

The quartzite in the upper portion of AHAD-099 is predominantly oxidized and leached with very low copper contents. Copper mineralization commences at a depth of 172.30 m. The uppermost 51.1 m of copper mineralization consists of secondary mineralization hosted primarily in quartzite wall rock but also extending slightly into the monzonite porphyry stock (see table below). The secondary copper mineralization consists of minor black and green copper oxide minerals with locally abundant chalcocite and native copper. The underlying primary sulphide mineralization is strongly associated with the monzonite porphyry stock and dikes and consists of disseminated and veinlet-hosted chalcopyrite, bornite and molybdenite. Molybdenite is associated with a distinctly later quartz vein set and can be quite abundant with grades of up to 0.25% Mo over intervals of 5-10 m. The drill hole was stopped at a depth of 563.90 m in lower grade (0.25% Cu) mineralization within quartz ite wall rock with decreasing frequency of monzonite porphyry dikes.

The third and fourth drill-holes of the current campaign (AHAD-100 and AHAD-101) are in progress. AHAD-100 is located 200 m to the southwest of AHAD-099 and drilled to the northeast.  AHAD-101 is located 140 m to the east of AHAD-099 and drilled to the southwest. Both holes are located to test for potential southward extension of the higher grade mineralization encountered in holes AHAD-082, AHAD-097, AHAD-098A, and AHAD-099.

Porphyry-style copper mineralization at Haquira East occurs over an area of approximately 450 by 750 m in plan (open to the south) as defined by 21 shallow holes drilled to test the potential for near surface secondary copper mineralization amenable to SX-EW processing.  These holes typically bottom in 10-100 m of underlying primary copper-molybdenum mineralization with an average primary grade of approximately 0.5% Cu based on the limited vertical extent of sampling to date. The primary grades increase to the south and are the focus of the current deeper drilling campaign.

About Haquira

The Haquira project offers potential for a low-strip, low-cost SX-EW operation in southern Peru with a good opportunity for an underlying higher grade primary porphyry copper-molybdenum target.  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.

Based upon 118 drill holes previously completed by Phelps Dodge and Antares through December of 2005, the Haquira project hosts a 43-101 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^(1,2) secondary copper sulphides and oxides only, see Antares press release dated February 14, 2006). A total of 97 additional drill holes have been completed in 2006 and are not included in the current resource calculation.  An updated independent resource estimate that completes the scoping phase of development is anticipated for delivery in late August 2007.

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            Mark Wayne, CFO 
(720) 514-9036 office                          (403) 705-4968
(303) 618-7797 cellular
john.black@antaresminerals.com
www.antaresminerals.com     

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.