February 22, 2007 (Waterdown, Ontario). Antares Minerals Inc. ("Antares"; ANM-TSX.V) is pleased to announce the appointment of Mark Sander as Executive Chairman, subject to regulatory approval. Dr. Sander has a proven track record in mining with a distinguished career at Magma Copper and BHP, and in other business environments. Mr. Sander will work with Antares' management team to develop, and implement strategic options for Antares.
From 1990-1996, Mark helped lead the transformation of Magma Copper company from its inception as a spinout from Newmont to its purchase by BHP. Dr. Sander founded the Magma ore-reserves management process, the strategic planning process, and the exploration program. In three short years, the exploration program achieved two significant discoveries-the Superior Deep, later known as Resolution by current operator RTZ, and Oyu Tolgoi in Mongolia, now being developed by Ivanhoe. Dr. Sander also helped designed and deliver employee engagement programs that generated significant growth and cost reduction at Magma's mining and smelting operations. He was a key member of the team that acquired and integrated the Tintaya Mine in Peru. These accomplishments were instrumental to BHP's acquisition of Magma Copper for a substantial premium.
From 1996-1999, Dr. Sander was Vice President of Strategy and Planning for BHP Copper, then the largest private sector copper producer in the world. In that capacity, he revolutionized BHP's understanding of the copper business and created a flexible, scenario-based planning model for the operations, including Escondida, Ok Tedi, and the ex-Magma operations. This work set the standard for strategic planning across all BHP's minerals businesses. He also designed and implemented a new business development strategy as well as a portfolio management process for upgrading the pipeline of growth projects in the company. He co-managed resulting asset sales and investment activities.
Immediately prior to joining Antares, Dr. Sander was Director of Planning, Performance, and Learning at Greene, Tweed and Company, a manufacturer of key components used in a range of high tech businesses.He designed and led a campaign to transform the company into an organization with the people, strategic thinking, and processes to deliver faster and more profitable growth. During this period, annual sales grew from US$180 million to US$280 million and many specific measures of customer, operational, and new product development effectiveness improved.
Dr. Sander earned a Ph.D. in Ore Deposits and Exploration, a M.Sc. in Geostatistics, both from Stanford University, and a B.A. degree (magna cum laude) in Geology and Economics from Amherst College.
About Antares Minerals Inc.
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 first 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 exploring the Rio Grande copper-gold porphyry project in NW Argentina pursuant to an option/joint venture agreement with Mansfield Minerals Inc.
For more information, please visit our website at www.antaresminerals.com or contact:
Antares Minerals Inc.
John Black, President and CEO Mark Wayne, CFO
(720) 514-9036 office (403) 705-4968
(303) 618-7797 cellular
john.black@antaresminerals.com
Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Jason Roy: jroy@renmarkfinancial.com
Media - Eva Jura: ejura@renmarkfinancial.com
Tel.: (514) 939-3989
Fax: (514) 939-3717
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