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

June 4, 2007, Waterdown, ON - 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 explor ing the Rio Grande copper-gold porphyry project in NW Argentina pursuant to an option/joint venture agreement with Mansfield Minerals Inc.

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

or

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
Tel. : (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com.

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

   
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.