Antares Minerals Inc.
TSX VENTURE : ANM

Antares Minerals Inc.

August 08, 2005 15:30 ET

Antares Minerals Inc.: Financing Closed

WATERDOWN, ONTARIO--(CCNMatthews - Aug. 8, 2005) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Antares Minerals Inc. (TSX VENTURE:ANM) is pleased to confirm that the private placement originally announced on July 20, 2005 was oversubscribed and is now closed. The Company has accepted subscriptions for 1,815,000 units ("Units") at $0.60 per Unit share for gross proceeds of $1,089,000. Each Unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at $0.80 for a period of one year from closing, provided that if the common shares trade at $1.25 or higher on a volume weighted average basis over any ten trading day period during the one year period, the Company can give written notice to all warrant holders to accelerate the expiry date of the warrants to 10 business days after the date of such notice.

Proceeds will be utilized to prepare for drilling programs this fall on the Haquira copper project in Peru and the Rio Grande copper-gold and Desierto gold-silver prospects in Argentina, and for general working capital purposes.

All securities issued in connection with the financing will be subject to a four (4) month hold period under applicable securities legislation.

This news release shall not constitute an offer to sell or the solicitation to buy the securities in any jurisdiction. The common shares offered will not and have not been registered under the United Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemptions from the registration requirements.

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

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