Antares Minerals Inc.
TSX VENTURE : ANM

Antares Minerals Inc.

March 26, 2008 18:53 ET

Antares Provides Rio Grande Copper-Gold Project Update as Drilling Recommences

WATERDOWN, ONTARIO--(Marketwire - March 26, 2008) - Antares Minerals Inc. ("Antares") (TSX VENTURE:ANM) is pleased to present the results from the final seven holes (3,075 m) of the thirty-five hole (16,238 m) diamond drilling program completed in late 2007 at the Rio Grande copper-gold project in north-western Argentina. Highlights from these holes include the extension of copper-gold mineralization to the north and south of the recently discovered #7 Zone as well as additional encouraging results from the northern Sofia Zone. Some of the more significant intercepts are as follows:

- RGA-07-058 (#7 Zone): 161.02 m with 0.34% Cu, 0.32 g/t Au, and 3.2 g/t Ag

-- Includes 15.50 m with 0.65% Cu, 0.72 g/t Au, and 5.2 g/t Ag

-- 250 m south of RGA-07-056 (134.5 m with 0.53% Cu, 0.65 g/t Au, 8.9 g/t Ag)

-- Mineralization commences from surface

- RGA-07-059 (#7 Zone): 36.80 m with 0.54% Cu, 0.54 g/t Au, and 7.7 g/t Ag

-- Includes 9.80 m with 1.07% Cu, 1.15 g/t Au, and 19.5 g/t Ag

-- 200 m north of RGA-07-056

-- Within broad zone of lower grade

- RGA-07-060 (Sofia Zone): 106.55 m with 0.42% Cu, 0.33 g/t Au, and 5.9 g/t Ag

-- Includes 36.60 m with 0.64% Cu, 0.48 g/t Au, and 6.3 g/t Ag

-- 150 m north of RGA-07-034 (189 m with 0.70% Cu and 0.67 g/t Au)

Thirty-five holes (16,238 m) were completed in the 2007 diamond drilling campaign at Rio Grande. Results from twenty-eight of these holes were previously released on September 14 and October 25, 2007 and January 18, 2008. Please see table 1 below for a complete summary of the new results and refer to the Antares website at www.antaresminerals.com for drill-hole location maps and additional information.

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

"The final results from the 2007 drilling campaign at the Rio Grande copper-gold project have further enhanced the #7 and Sofia Zones, two of the four areas where we have encountered longer runs of higher grade copper-gold mineralization. A 14,000 m infill drilling program has commenced with two drill rigs operating on site and a third rig scheduled to arrive in the near future. The infill drilling campaign has been designed to provide data to allow completion of an initial resource estimate and metallurgical characterization for Rio Grande by the end of 2008.

We are also encouraged by the results of the first hole into the NE Target, an area located approximately 1.5 km to the northeast of the principal Rio Grande project that is characterized by a discrete gold-in-soil anomaly that is coincident with IP chargeability and resistivity anomalies. Although the hole did not intersect ore grades there are several lengthy zones of highly anomalous gold-copper-zinc mineralization that warrant additional investigation."



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Table 1 - Antares Rio Grande Drilling 2007 - Significant Intervals
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Drill Holes reported on 26 March 2008
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Total Significant
depth Interval Includes Length Cu Au Ag
Drill Hole Zone (m) (m) (m) (m) % g/t g/t
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Sofia-
RGA-07-57 North 470.40 312-332 20.00 0.30 0.33 3.1
-----------------------------------------------
414-432 18.00 0.36 0.34 9.3
----------------------------------------------------------------------------
RGA-07-58 #7 575.90 9-170 161.00 0.34 0.32 3.2
-----------------------------------------------
112-
127.50 15.50 0.65 0.72 5.2
-----------------------------------------------
144-
156 12.00 0.47 0.61 5.5
-----------------------------------------------
309-350 41.00 0.21 0.25 15.4
----------------------------------------------------------------------------
RGA-07-59 #7 610.00 6-22 16.00 0.55 0.48 6.4
-----------------------------------------------
57-71 14.00 0.33 0.37 2.3
-----------------------------------------------
87.90-108 20.10 0.26 0.28 2.3
-----------------------------------------------
116-152.80 36.80 0.54 0.54 7.7
-----------------------------------------------
138-
147.80 9.80 1.07 1.15 19.5
-----------------------------------------------
190-214 24.00 0.24 0.21 2.6
-----------------------------------------------
256-266 10.00 0.24 0.23 3.4
-----------------------------------------------
553-585 32.00 0.18 0.30 4.1
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RGA-07-60 Sofia 520.70 242.25-
348.80 106.55 0.42 0.33 5.9
-----------------------------------------------
299.40-
336 36.60 0.64 0.48 6.3
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RGA-07-61 Southwest 97.00 no significant intervals to report
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drill hole lost prior to target depth
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RGA-07-62 Northeast 394.75 96-108 12.00 0.05 0.16 1.5
-----------------------------------------------
225-251 26.00 0.14 0.13 4.8
-----------------------------------------------
262-276 14.00 0.11 0.08 1.2
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RGA-07-32A Discovery 406.20 308-346 38.00 0.25 0.18 2.0
---------------------------------
364-374 10.00 0.37 0.32 3.5
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Please Note - Reported mineralized intervals represent down-hole lengths and
do not represent true thicknesses as there is currently insufficient
geological data to calculate true thicknesses. With the exception of drill
hole RGA-07-62, the cut-off for calculating significant intervals was 0.2%
Cu and/or 0.2 g/t Au. The significant intervals for RGA-07-062 were
calculated with a lower cut-off of 0.1% Cu and/or 0.1g/t Au.



Discussion of Results

The objectives of the 2007 diamond drilling program were (1) to conduct follow-up drilling on encouraging results from previous drilling campaigns in the Sofia and Discovery Zones, (2) to drill test the remaining two-thirds of the prospect 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.

Copper-gold mineralization at Rio Grande is hosted by a complex sequence of intermediate sub-volcanic intrusive rocks with variable degrees of potassic, calcic, and propylitic alteration and local late- to post-mineral intermediate dikes. The mineralization originally consisted of chalcopyrite and magnetite as disseminations and fracture fillings. The chalcopyrite has subsequently been partially to completely oxidized to green and black copper oxides to depths of 300-400 m or more. Oxidation is typically in situ with little to no remobilization of copper. With the exception of the deepest interval in each of RGA-07-059 and RGA-07-032A, all of the intervals reported in Table 1 above have been partially to completely oxidized by supergene weathering processes.

The seven drill holes presented in this release were drilled in several different target areas of the project as further described below. Significant mineralized intervals from the drill holes are listed in Table 1 above. All of the holes were drilled at angles of 50-75 degrees from horizontal to traverse better the potentially sub-vertical zones of mineralization. Reported mineralized intervals represent down-hole lengths and do not represent true thicknesses as there is currently insufficient geological data to calculate true thicknesses (please refer to the Antares website at www.antaresminerals.com for drill-hole location maps and additional information).

Drill-hole RGA-07-060 was drilled at the northern end of the Sofia Zone at a distance of approximately 150 m to the north of RGA-07-034 (189 m with 0.70% Cu and 0.67 g/t Au) and 100 m to the west of RGA-07-049. The hole intersected an interval of 106.55 m with 0.42% Cu and 0.33 g/t Au and a separate lower interval of 56 m with 0.033% Mo (from 400-456 m with primary sulfides). Drill-hole RGA-07-057 was drilled nearby in the gap between the Sofia and North Zones and encountered several narrower zones of lower grade copper-gold mineralization but also intersected a spatially distinct zone of molybdenum mineralization (83.40 m with 0.054% Mo from 107.0-190.4 m depth, oxidized, including a narrow high-grade interval of 6 m grading 0.334% Mo). Several other holes in this vicinity of these two holes have returned similar molybdenum intercepts (RGA-07-049 with 54.4 m of 0.10% Mo for example). The significance of this molybdenum mineralization is not well understood but warrants further investigation.

Drill-holes RGA-07-058 and RGA-07-059 were drilled in the #7 Zone along the western margin of the Rio Grande system to offset the encouraging intercept previously reported from RGA-07-056 (134.5 m with 0.53% Cu, 0.65 g/t Au, 8.9 g/t Ag). Both holes intersected encouraging mineralization starting from near-surface. RGA-07-058 is located approximately 250 m to the south of RGA-07-056 and RGA-07-059 is located approximately 200 m to the north of RGA-07-056.

Drill-hole RGA-07-61 was collared in the SW Zone but was lost at 97 m depth due to mechanical failure of the drill rig prior to reaching the target depth.

Drill-hole RGA-07-062 was completed as the first hole to test the NE Target, an area located approximately 1.5 km to the northeast of the principal Rio Grande project that is characterized by a discrete gold-in-soil anomaly that is coincident with IP chargeability and resistivity anomalies. Although the hole did not intersect ore grades there are several lengthy zones of highly anomalous gold-copper-zinc mineralization that warrant additional investigation. In addition to the significantly anomalous gold and copper intervals reported in Table 1 above there is a 194 m intercept of 0.23% Zn from 128-322 m depth in the hole. The zinc mineralization is consistent throughout the interval with a maximum value of 0.7% Zn. All mineralization in the hole has been affected by supergene oxidation.

Drill-hole RGA-07-032A is a twin-hole of previously drilled RGA-07-032, located in the Discovery Zone, with results within the range of expected geological variation.

About the Rio Grande Project, Salta Province, Argentina

The Rio Grande project is very favourably 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 setting shares many similarities with that of 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 prior to 2007 focused on the better exposed Discovery and Sofia zones along the south-eastern portion of the system.

Antares has earned a 50% interest in the Rio Grande project pursuant to an agreement with Mansfield Minerals Inc. ("Mansfield"). Antares recently completed the required expenditures and payments and plans to vest in its 50% interest in the property shortly. Antares and Mansfield will formalize a definitive joint venture agreement in the near future to fund ongoing development at Rio Grande on a 50/50 basis with Antares as the operator.

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. In addition to the Rio Grande copper-gold project in Argentina, Antares is aggressively advancing the Haquira SX-EW copper project in south-central Peru, immediately adjacent to the Las Bambas copper project of Xstrata Copper. Antares recently announced an updated resource estimate for the near-surface, SX-EW amenable portion of the Haquira project (October 09, 2007) and is in the process of completing the corresponding 43-101 technical report which will also include a preliminary economic analysis. 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 secondary copper sulphide and oxide mineralization only). The current resource estimate does not incorporate any of the 2007 drilling that has been focused on delineation of the newly discovered primary copper-molybdenum-gold zone beneath the Haquira East copper oxide zone. Antares has an option to acquire a 100% interest in the Haquira project from Minera Phelps Dodge del Peru S.A.C.

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.

Antares' security, chain of custody and quality control is described on their website and can be reviewed at: http://www.antaresminerals.com/bestpractices/samplingmethodologies.

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.

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

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