Antares Minerals Inc.
TSX VENTURE : ANM

Antares Minerals Inc.

July 26, 2005 12:31 ET

Antares Minerals Inc. Increases Offering Size

WATERDOWN, ONTARIO--(CCNMatthews - July 26, 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 announce that, due to investor demand, it is increasing the size of its previously announced non-brokered offering from a maximum of 1,700,000 Units to a maximum of up to 1,800,000 Units. Units will be issued at a price of $0.60 per Unit share, for gross proceeds of up to $1,080,000. Each Unit will consist 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 primarily 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.

Closing of the financing is scheduled to take place on or about August 5, 2005 subject to regulatory approval. 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.

Contact Information

  • Antares Minerals Inc.
    John Black
    President
    (720) 514-9036 office
    (303) 618-7797 cellular
    Email: john.black@antaresminerals.com
    or
    Antares Minerals Inc.
    Mark Wayne
    CFO
    (403) 705-4968