HAQUIRA

Antares Minerals Inc. announced that the Company has received a positive Preliminary Economic Assessment for its wholly owned Haquira Copper Project in southern Peru. At an estimated average annual production rate of 425 million lbs of copper, 5 million lbs of molybdenum and 27,000 ounces of gold for a 20-year mine life, the PEA estimates an after-tax Net Present Value of US$1.07 billion from commencement of construction and an after-tax Internal Rate of Return of 16.4% using a long term copper price of US$2.25/lb and a discount rate of 8%.

Antares Minerals Inc. announced results of a metallurgical study on two composite samples of primary copper sulphide-bearing drill core from the Haquira East mineralized zone at the Haquira copper project located in south-central Peru. Highlights include: Rougher concentrate recoveries up to 95% copper and estimated recovery of 89.3% copper, 72% gold and 57% molybdenite in final concentrate.

Antares Minerals announced it has exercised its option to acquire a 100% interest in the Haquira project in southern Peru by completing payments totaling US$15 million to Minera Phelps Dodge del Peru prior to the March 4, 2010 expiry of the five year option period.