Antares and Coleville Resources Complete Agreement on Indonesian Properties.

TORONTO--(BUSINESS WIRE)--Nov. 17, 1997--Antares Mining and Exploration Corporation (TSE:ANZ.) Antares Mining and Exploration Corporation is pleased to announce that it has completed an agreement with Coleville Resources Limited (ASE:CLL.) which has resulted in a restructuring of their respective interests in the 2,244 hectare property (the "Ojolali Property") in Sumatra, Indonesia and the surrounding 29,700 hectare property (the "Surrounding" Property"). The agreement was preceded by a binding letter of intent, details of which were announced on September 8, 1997.

As a result of the agreement, the interests of all parties in both the Ojolali Property and the Surrounding Property are as follows: Antares - 76.5 percent; Coleville - 13.5 percent and 10 percent will be held by Indonesian interests. Coleville's interest in both properties is a carried interest. Antares will have full control of the joint venture management committees for both properties.

In addition to its interest in the Ojolali silver and gold property, Antares has a 24.75 percent beneficial interest in Rappa Holdings (Proprietary) Ltd., a South African based gold recovery operation, a 37 percent interest in the producing Lady Lina gold mine in Zimbabwe, and a joint venture interest with AGC Americas Gold Corporation (VSE:AGA.) in AGC's 235 square kilometre Toodoggone properties in north central British Columbia.

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, 416/861-9940

416/861-0057 (FAX)

or

Antares Mining and Exploration Corporation

Robert Yeoman, 416/861-9940

416/861-0057 (FAX)