Antares Metals (ASX:AM5) has completed the acquisition of the Quinns and Katanning projects in Western Australia, following along with the company’s $2.03 million capital raising.
In acquiring these tenements, Antares struck two acquisition deals. The acquisition of the Katanning Project was subject to a deal with privately held Kilonova Metals, while the acquisition of the Quinns Base Metals and Gold Project was subject to an agreement with CNN.
Through a tenement purchase agreement with Kilonova Metals, Antares issued 75 million shares and 25 million unquoted options for the acquisition of Katanning.
Shares were issued on a pro-rata basis and options are exercisable at $0.02 each with a three-year expiry.
Along with the share and option issuance, Antares also settled $50,000 in cash and issued a 1% net smelter royalty to Kilonova over products produced from the acquired tenements.
The acquisition of Kilonova Metals brought Terence Topping to Antares’ board, acting as Managing Director as of 28 January 2026.
He has more than 35 years of experience in mineral exploration and development, holding a Bachelor of Applied Science, majoring in geology and a Graduate Diploma in Finance and Investment.
Topping has been involved in numerous ASX-listed resources companies, including acting as Executive Chairman for Kairos Minerals (ASX:KAI) and non-executive director at Rumble Resources (ASX:RTR).
He was also the founder of Scimitar Resources in 2005, which then merged with Jackson Gold to create Cauldron Energy (ASX:CXU).
Antares also struck a tenement purchase agreement with CNN for interest in its tenements that form part of the Quinns Project. The company issued 12.5 million shares on a pro-rata basis and 4.17 million options, under the same conditions as the Kilonova deal.
The company also settled $100,000 in cash, offering CNN a 1% net smelter royalty for the asset.
Antares has also completed a placement to raise $2.3 million, conducted through two tranches.
The placement offered one free-attaching unquoted option for every two shares held in this offer, which was led by Discovery Capital Partners and Cumulus Wealth as lead managers.
Antares Metals is a junior explorer focused on uncovering copper and uranium deposits across Australia.
The company is attending the RIU Explorers Conference in Fremantle, Western Australia, held from 17-19 February 2026.
Mining.com.au is a media partner for this conference.
Write to Maddison Elliott at Mining.com.au
Images: Antares Metals
