It's based on Debian Testing repositories up to 23rd June 201
The second Release Candidate version of AntiX M12, a fast, lightweight and easy-to-install Linux Live CD distribution based on Debian Testing and MEPIS, for Intel-AMD x86 compatible systems, is now available for testings.AntiX M12 RC2 comes in three different editions: a full one featuring five-window managers, IceWM (default), Fluxbox, JWM (all with or without a Rox desktop) WMII and dwm; a base one featuring Fluxbox, JWM, WMII and dwm, and the core edition, which has no X-server support, just a CLI-installer.
All versions of AntiX M12 RC2 have Linux kernel 3.5.0, improvement for live persistence, and a lot of other changes, including Debian Testing repos by default.
All applications were upgraded via Debian Testing repositories up to 23rd June, 2012. More details can be found in the official announcement.
Download AntiX M12 RC2 right now from Softpedia. Remember that this is a development release and it should NOT be installed on production machines. It is intended for testing purposes only.