TORONTO, ONTARIO--(Marketwire - July 30, 2010) - 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

San Anton Resource Corporation (TSX:SNN) ("San Anton" or the "Company") announces that it has completed its previously announced rights offering. Under the offering, San Anton has issued 22,080,351 common shares at a price of $0.15 per share for gross proceeds to the Company of $3,312,052. Following the completion of the rights offering, San Anton now has 127,276,042 common shares issued and outstanding.

Kings Minerals Mexico Pty Ltd., which owned 71.3% of the issued and outstanding common shares of the Company prior to the completion of the rights offering and is a wholly-owned subsidiary of Australian Securities Exchange-listed Kings Mineral NL, purchased 18,750,000 shares under the rights offering for gross proceeds of $2,812,500 to the Company, representing its approximate pro rata portion of the rights offering.

The net proceeds from the rights offering will be used to pay approximately $1.4 million owed to Kings Minerals for approximately $890,000 in working capital loans advanced by Kings Minerals to the Company and for the reimbursement of approximately $553,000 in salary and administrative costs related to technical services provided by Kings Minerals on the Company's San Anton Project, to advance the development of the San Anton Project, including completion of a feasibility study, and for general working capital.

The Company is continuing to work towards its previously announced business combination with Kings Minerals pursuant to which Kings Minerals would acquire all of the San Anton common shares it does not own in consideration for Kings Minerals ordinary shares on the basis of two and one-half (2.5) Kings Minerals shares for each San Anton share. The business combination is subject to approval by the shareholders of San Anton and Kings Minerals, including approval by a majority of San Anton's minority shareholders. San Anton has called a special meeting of its shareholders to seek such approval to be held on August 30, 2010.

John Cook, President and CEO of San Anton commented "We're pleased with the results of the rights offering, particularly with the full participation of Kings Minerals and the support received from a number of our minority shareholders. The offering has improved San Anton's financial position considerably, providing it with funds to pay down debt, to continue towards a feasibility study on the Cerro del Gallo deposit and for working capital in the short term."

The common shares issued upon the exercise of the rights have not and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States of America or any of its territories or possessions or to U.S. Persons.

About San Anton Resource Corporation

San Anton Resource Corporation is an exploration and development company that is listed on the TSX and is totally focused on the mining friendly jurisdiction of Mexico. The Company's principal asset is a 64% interest in the San Anton Property (Goldcorp 36%), which hosts the near-surface Cerro del Gallo gold-silver-copper deposit. The Property is located in a historic gold-silver mining district and has only recently been subjected to modern exploration techniques. This work quickly identified several targets and has led to the delineation of a NI 43-101 Measured & Indicated Mineral Resource of 461 million tonnes grading 0.27g/t gold (3.9Moz), 11g/t silver (163Moz) and 0.11% copper (1.09Blb) and an Inferred Mineral Resource of 166 million tonnes grading 0.11g/t gold (0.6Moz), 7 g/t silver (39Moz) and 0.10% copper (0.36Blb). Within the overall deposit, there is a 'gold domain zone' containing Measured & Indicated Mineral Resource of 209 million tonnes grading 0.48g/t gold (3.2Moz) and 11g/t silver (71Moz) and within this zone, there is a relatively higher grade gold resource defined at surface. The deposit remains open in several directions. On March 2, 2010, San Anton announced a highly encouraging US$260 million net free cash flow, US$415/oz production cost "base case" scoping study finding for the Cerro del Gallo project.

Cautionary statement regarding forward looking statements and information

This press release contains statements that constitute "forward-looking information" or "forward-looking statements" (collectively "forward-looking information") within the meaning of applicable securities legislation.

Various assumptions were used in drawing the conclusions or making the forecasts and projections contained in the forward-looking information contained in this press release. Forward-looking information is based on current expectations and projections that involve a number of risks which could cause actual results to vary and in some instances to differ materially from those anticipated by San Anton. Undue reliance should not be placed on forward-looking information. The risk factors include, but are not limited to, the parties will not proceed with the proposed transaction or that the proposed transaction will not be successfully completed for any reason (including a failure to obtain the required approvals). Forward-looking information is based on the estimates and opinions of San Anton's management at the time the information is released. San Anton undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.