ANTARES MINING - U.S.$1,500,000 PAID IN TRUST FOR FURTHERANCE OF ANTARES' AGREEMENT WITH COLEVILLE RESOURCES.

TORONTO--(BUSINESS WIRE)--Feb. 14, 1997--Antares wishes to announce that in furtherance of Antares' agreement with Coleville Resources Limited concerning the acquisition by Antares of a 45% interest in the Ojolali gold property in the district of North Lampung, Lampung Province on the Island of Sumatra in the Republic of Indonesia, Antares has paid U.S.$1,500,000 in trust, as of today's date, for the benefit of the joint venture's Indonesian partner P.T. Kurnia Dwipa Kencana. A definitive joint venture agreement will be signed on or by February 25, 1997.

Antares believes that the potential of the Ojolali property and the surrounding area to host economic gold mineralization is exceptional. Initial assay results from Antares due diligence on the high priority targets, namely Area C1, Bukit Jambi, Bukit Kencur and Bukit Batu Kuning, are currently being analyzed and will be released shortly.

Antares owns a 43% interest in the producing Lady Lina gold mine in Zimbabwe as well as a current 24.75% beneficial interest in Rappa Holdings (Proprietary) Limited, a profitable and expanding gold recovery operation in South Africa. Negotiations are currently underway with the objective of Antares increasing its ownership in Rappa. -0- NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

CONTACT: Antares Mining and Exploration Corporation

Dennis Gray, [phone]

[phone] (FAX)