Antares Intersects 943 M with 0.65% Copper at Haquira East Porphyry Copper Project, Peru

January 2, 2008 (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 previous press releases of July 12, August 09, and October 26, 2007). Highlights from drill holes AHAD-104 through AHAD-107 (2,765.70 m total) include:

• AHAD-107:  943.30 m with 0.65% Cu and 0.009% Mo (0.70% Cu equivalent)
  • includes 442.85 m with 0.74% Cu, 0.010% Mo  (0.80% Cu equivalent)
  • Hole remains open to depth with final 51.45 m grading 0.41% Cu
  • Hole terminated at 1007.60  m due to lack of available drill rods
  • 200 m step out from nearest deep drill holes (AHAD-106 and AHAD-098A)
  • Intercept may represent second, vertically extensive, higher grade copper center
• AHAD-106:  496.35 m with 0.58% Cu and 0.024% Mo (0.72% Cu equivalent)
  • Includes 211.00 m with 0.67% Cu and 0.032% Mo (0.86% Cu equivalent)
• AHAD-104 AND AHAD-105 were drilled to delineate the northeastern margin of system
  • AHAD-105 intersected 351.40 m with 0.45% Cu and 0.018% Mo (0.56% Cu equiv)
  • AHAD-104 intersected 351.95 m with 0.48% Cu and 0.016% Mo (0.58% Cu equiv)
  • Both holes terminated in less mineralized sedimentary wallrocks
• All four holes entered directly into well mineralized porphyry beneath 49.00-89.20 m of barren colluvium (post-mineral cover).  The upper 16.30-42.35 m of the mineralized intercepts consists of secondary copper mineralization, (principally in-situ copper oxides), with grades ranging from 0.46-0.84% Cu. The remainder of the mineralized intercepts consists of primary sulphide mineralization dominated by chalcopyrite with lesser molybdenite, bornite and pyrite.

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

"The results from drilling at Haquira East continue to exceed our expectations in terms of both average grade and vertical extent of mineralization. The four holes presented in this press release have now confirmed the potential for a significant volume of primary copper mineralization at Haquira East with additional molybdenum and gold credits.  More importantly the results from AHAD-107 indicate that a second center of thicker and higher grade copper mineralization is emerging as drilling progresses to the northwest. We had anticipated that grades and thicknesses of mineralization might gradually decrease away from the bornite-rich core defined by drill holes AHAD-098A, AHAD-099, and AHAD-102, so we were pleasantly surprised by nearly one km of well mineralized porphyry in AHAD-107 and the re-emergence of bornite and associated higher copper and gold grades. Mineralization remains open to the north and west and we look forward to additional results in the near future."

Discussion of Results

A summary of the analytical results from drill-holes AHAD-104 through AHAD-107 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 0.009% and if the interval is dominated by primary sulphide mineralization.

Drill-holes AHAD-104 and AHAD-105 were collared from the same sites as drill holes AHAD-103 and AHAD-102, but drilled in the opposite direction (055 degree azimuth, -80 degree inclination) to define the northeast margin of the mineralized system. AHAD-104 encountered 89.20 m of colluvium before entering into well mineralized Haquira porphyry to a depth of 474.80 m where the hole passed into less mineralized quartzite and siltstone wallrocks. AHAD-105 encountered a similar sequence with 53.50 m of colluvium before entering into well mineralized Haquira porphyry to a depth of 414.75 m where the hole passed into less mineralized quartzite and siltstone wallrocks.

Drill-hole AHAD-106 (035 azimuth, -80 inclination) was collared 100m to the northwest of AHAD-103 and was the first deep hole on section 2100NW. The hole encountered 49.00 m of barren colluvium before intersecting mineralized porphyry to a total depth of 619.35 m.  The average grade of copper mineralization gradually decreases with depth with the final 31.20 m averaging 0.18% copper.

Drill-hole AHAD-107 (055 azimuth, -80 inclination) was collared on section 2100NW at a distance of 200 m to the southwest of AHAD-106 and 200 m northwest of AHAD-097. The hole passed through 62.65 m of barren colluvium cover before encountering and remaining in well mineralized porphyry to a total depth of 1007.60 m.  The final 51.45 m of the hole average 0.41% copper and the hole was terminated due to a shortage of available drill rods. 

AHAD-107 represents a significant step out from previous drilling and may indicate the presence of a second center of vertically extensive, higher grade copper mineralization.  Portions of the hole contain more abundant bornite and are associated with elevated copper and gold grades in a manner similar to drill-holes AHAD-097 and AHAD-099 to the southeast.  Additional drilling will determine if the two zones are connected.

An additional two holes have been completed at Haquira East prior to suspension of drilling activities for the Christmas and New Year's Day holidays.  Both holes are located on drill section 2200NW.  AHAD-108 is located 146 m to the north of AHAD-107 and was drilled to a total depth of 745.05 m.  AHAD-109 is located 100 m to the northwest of AHAD-107 and was drilled to a total depth of 944.25 m.  Assay results are pending for both holes and will be reported by mid to late January. Drilling will recommence in early January with two diamond drill rigs.

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). Upon completion of a Feasibility Study, Antares will be obligated to make an additional payment to Phelps Dodge equal to US$0.01 for each pound of copper in excess of 2.2 billion pounds contained within the leachable mineral resource. The additional payment will apply to all categories of leachable resource (inferred, indicated and measure d) utilizing a 0.3% total copper cut-off grade and 50% recovery factor based upon sequential leach analyses. 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 has filed the corresponding 43-101 technical report on SEDAR. A preliminary economic analysis for the updated leachable resource is scheduled for completion by the end of January, 2008. 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        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.