January 12, 2009 – Todd Creek

TORONTO, ON, January 12, 2009 – Polar Star Mining Corporation (TSXV:POS) (“Polar Star” or the “Company”) and its partner, Goldeye Explorations Limited (“Goldeye”) and the optionor, Intuitive Exploration Inc. (“NTE”), are pleased to announce the discovery of a significant volcanogenic massive sulfide (VMS) environment on the Todd Creek Property in northwest British Columbia, Canada.  BC Geological Survey geologists have confirmed the favorable environment, which has been traced via the presence of VMS stratigraphy, stringer/feeder zones and multiple exhalite horizons, in outcrop and new drillholes over a strike length of more than 7 km.  Sampling of the discovery outcrop in 2008 returned assays up to 57 g Ag/T, 1.7% Cu and 7.1% Zn.  The partners have optioned additional ground to cover the apparent strike extension of one of the VMS horizons, bringing the total land position to nearly 20,000 hectares.

 

Core drilling in 2008 at the South Zone Au-Cu target returned an interval of 1.75 g Au/T and 0.26% Cu over a 17.3m core length.  Assays have not been delivered for the bottom portion of that first hole or the seven additional holes from the 2,600 meter program.  Historic drilling at the South Zone included a number of strong intercepts, including 8.62 g Au/T and 0.45% Cu over 11.7m.  Subsequent drilling at South Zone in 2008 encountered VMS-style mineralization, for which assays have not yet been returned.  NTE geologists have interpreted the South Zone as occupying an important structural intersection that may constitute a feeder to VMS stratigraphy and a conduit for later crosscutting epithermal or porphyry-related Au-Cu mineralization.  Most of the analytical results from 2008 drilling and surface geochemistry have been put on hold at the lab pending the restructuring of Intuitive Exploration Inc. (NTE), the private company operating the exploration program, which cost approximately $2.2 million in 2008.

 

The Todd Creek Property is located in Skeena Mining Division in the Eastern Volcanic Belt of the Stewart Gold Camp of British Columbia.  There remain numerous other gold, copper, and VMS targets to be delineated when results from 2008 are complete.  NTE is contemplating the 2009 exploration program to follow up on these successes.  The program may include an airborne electromagnetic/magnetics survey, ground geophysical surveys, mapping/sampling, and diamond drilling.  The property is held by Polar Star and Goldeye, and NTE has the right to earn up to a 70% interest with expenditures of $5 million and certain option and share payments.  NTE expended approximately $2.2 million in exploration during 2008. 

 

Qualified Person

 

Mr. David E. Molloy, M.Sc., P.Geo., ABEGBC, APGEO is the qualified person within the meaning of National Instrument 43-101. Mr. Molloy has reviewed the contents of this news release.

 

About Polar Star

 

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper-gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares. HudBay Minerals Inc. acquired 3,860,605 shares of Polar Star in July 2008 which represents approximately 9.8% of the outstanding shares of the Company.

 

About Goldeye

 

Goldeye is a Canadian mineral exploration company acquiring, exploring and advancing

properties in Canada and Chile. For further information on Goldeye, please contact Blaine Webster, CEO, 905-886-2538.

 

Forward-Looking Statements

 

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements.  For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.polarstarmining.com.

Share Capitalization:

Shares Outstanding: 39,241,098 as at January 12, 2009.

 

For further information please contact:

 

Douglas Willock, President and CEO, Polar Star Mining Corporation

Telephone: 416-368-3496, Email: info@polarstarmining.com

 

 

Business Television Feature:

 

Polar Star was selected and featured on Business Television in early December 2008. If you missed the show, please click on the link below to watch the full-feature http://www.b-tv.com/features/watch-now.html?clip=BNNpolarstarmining.wmv.

 

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

 

January 12, 2009 – Montezuma

TORONTO, ON– January 12, 2009 Polar Star Mining Corporation (TSXV: POS) (“Polar Star” or the “Company”) announces an exploration update on its Montezuma property which is believed by the Company to have the potential to host large porphyry copper deposits. Reconnaissance geological mapping, rock and soil sampling by Polar Star staff and a 119 line kilometre pole-dipole Induced Polarisation (IP) survey conducted on behalf of Polar Star by Quantec Geoscience, Santiago, Chile have now been completed.

Highlights:
Montezuma
• Old workings, leached and oxide copper bearing outcrops, geological and geochemical surveys define a highly prospective belt 5-8 kilometres wide by 30 kilometres long centred on the West Fault System.
• A large Chargeability/Resistivity anomaly 0.8 to 2.3 kilometres wide, 23.5 kilometres long, extending to depths of at least 300 to 500 metres has been identified by the Quantec IP survey within this belt, along with several other 2- 4 kilometre long satellite anomalies.
• The length of the main IP anomaly is greater than all the known Chuquicamata porphyry copper deposits combined.
• Property consists of 43,200 hectares, and is located 30 kilometres due south of CODELCO’s Chuquicamata Mine and Smelter Complex; and,
• Covers 25 km of the West Fault System and associated splays, which hosts many large porphyry copper deposits including Chuquicamata and Escondida.

The Montezuma Project

The Montezuma Project consists of a contiguous group of 100% owned exploration concessions staked by Polar Star. As noted above, the West Fault System is well known for the exceptional tonnage and quality of its deposits. The Chilean Mine Handbook reported that in 2007 the BHP/RTZ owned Escondida Mine produced 1.5 million tonnes of copper and had copper reserves of 4.3 billion tonnes at an average grade of 0.81% Cu. The Corporaciόn Nacional del Cobre’s (“Codelco”) El Norte Division, which includes Chuquicamata, reported production of 0.9 million tonnes of copper, reserves of 2.3 billion tonnes and an average grade of 0.79% Cu during the same period.

The Montezuma Project is located in the Sierra Limon Verde oxide copper mining district and is readily accessible by paved and good gravel road from the city of Calama, 20 kilometers to the north. The project consists of three groups of exploration concessions; Montezuma, Topater and Limonal totaling 43,200 hectares staked and owned 100% by Polar Star.

The Property lies within the central sub-zone of the main Chilean porphyry belt and covers approximately 25 kilometres of strike of the West Fault System and associated sub-parallel and NW-SE cross-cutting ancillary faults. The hills of Sierra Limon Verde which cover the Limonal, north and west half of the Montezuma claims generally expose the same group of metamorphosed Paleozoic intrusive, volcanic and sedimentary rocks that host the Chuquicamata porphyry copper deposits. The rest of the Montezuma claims and most of the adjacent Topater claims are covered by pediment gravels derived from the local hills.

Polar’s geological and geochemical surveys to date have identified several large areas of leached, hematite stained and sulphate rich caps containing minor amounts of copper wad and chrysocola developed along and lateral to the West Fault System where it strikes through the northern claims of the Montezuma group and within the Topater group, quartz-tourmaline-copper-gold veins and stockworks of the type commonly found peripheral to porphyry systems. In addition on several of the IP lines, 1-2 metre deep pits dug for electrodes uncovered disseminated copper minerals in porphyritic intrusive rocks.

There are no public records of mining or exploration activity in the property area. There are however three groups of old drill holes reportedly drilled by Codelco in the central and southern part of the Montezuma property along the projection of the West Fault System. Cuttings from a number of these holes show propylitic to phyllic alteration assemblages containing disseminated and veinlet pyrite plus minor chalcopyrite and bornite.

The reconnaissance IP survey was concentrated along a NNE trending belt some 6-9 kilometres wide covering the trace of the West Fault System and adjacent N-NNE trending splays and cross faults and detected several anomalies. The main anomaly, which is entirely covered either by a sulphate cap or pediment gravels is 0.8 – 2.3 kilometres wide, 23.5 kilometres long and extends to depths of at least 300-500 metres. The central sector of the anomaly straddles the West Fault but to the north and south it appears to be controlled by NNE trending splay and cross faults. By comparison the length of this main anomaly is greater than the combined known Chuquicamata porphyry copper deposits from Radomiro Tomic to Toki (see attached map).

Qualified Person

Mr. Terence Walker, M.Sc., P.Geo., is the qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release. The forgoing comments and interpretation of the IP survey results are based on local knowledge and experience of Polar Star’s personnel. The Quantec final report and recommendations are still in preparation.

About Polar Star
Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares. HudBay Minerals Inc. acquired 3,860,605 shares of Polar Star in July 2008 which represents approximately 9.8% of the outstanding shares of the Company.
Forward-Looking Statements

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.polarstarmining.com.
Share Capitalization:

Shares Outstanding: 39,241,098 as at January 12, 2009.

For further information please contact:

Douglas Willock, President and CEO, Polar Star Mining Corporation Telephone: 416-368-3496, E-mail: info@polarstarmining.com
Business Television Feature:

Polar Star was selected and featured on Business Television in early March 2008. If you missed the show, please click on the link below to watch the full-feature
http://www.b-tv.com/i/videos/PolarStar.wmv
The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

January 8, 2009

Polar Star Completes Phase I Due Diligence Drilling

 at the Chépica Project                                                          

 

TORONTO, ON, January 8, 2009 – Polar Star Mining Corporation (TSXV POS) (“Polar Star” or the “Company”) announces final results from sixty-five shallow diamond drill holes totalling 6,758 meters completed in late November 2008 on the Chépica No.1 and No.2 Vein systems as part of its ongoing due diligence review of the Chépica mining property and mill (the “Chépica Project”), Talca, Region VII, Chile. Results from the first 30 holes were the subject of Polar Star’s October 22, 2008 press release with the remainder covered by this release.

 

Highlights

 

·         49 holes totalling 5,274 meters on the Chépica No.1 Vein system, covering 330 meters of strike and to 180 meters depth.

·         16 holes totalling 1,484 meters on Chépica No.2 Vein system, covering 150 meters of strike and to 125 meters depth.

·         Drilling on the Chépica No.1 Vein system demonstrates this system has good lateral and vertical continuity and contains at least 3 strong veins with true widths typically ranging from 2 meters to over 12 meters.

·         Drilling on the Chépica No.2 Vein system also shows multiple veins, however they are more irregular and true widths typically range from 1.5 meters to 8 meters. 

·         Merging of individual veins to form composite veins from 5 meters to over 20 meters true width is common to both systems.

·         Weighted average grades from the individual veins include highs of 12.8 g/t gold plus 1.96% copper over 2 meters to 31.67 g/t gold plus 0.78% copper over 3 meters width from the Chépica No.1 Vein system and 2.2 g/t gold plus 3.97% copper over 2 meters to 4.96 g/t gold plus 1.17% copper over 3 meters from the Chépica No.2 Vein.

·         Weighted average grades from composite veins include highs of 3.37 g/t gold plus 0.56% copper over 21 meters to 2.1 g/t gold plus 0.7% copper over 45 meters from the Chépica No.1 Vein and 2.4 g/t gold plus 1.39% copper over 5 meters to 1.81 g/t gold + 3.32% copper over 9 meters from the Chépica No.2 Vein.

·         The sulphide flotation mill began on-going sampling and testing of operations in mid November 2008 and is now processing an average of 50 tonnes per day from the Chépica No.2 Vein system. The mineralized material being shipped to the smelter grades from 25% – 29% copper and 30 – 45 g/t gold.

·         The Chépica Project operator is currently planning to increase mill throughout to at least 150t/d by mid-March, 2009.

 

 

Diamond Drill Results (see Summary Table attached)

 

Diamond Drilling Program

The 65 hole due diligence diamond drilling complete to date consists of:

a)      A series of fourteen fences of three or four holes each drilled along approximately 330 meters of strike of the Chépica No.1 Vein system, the first twelve fences being spaced approximately 25 meters apart and the two southern most fences at 50 meters spacing. The holes within each fence test the Chépica No.1 Vein system at 25 meter intervals from 25 meters to 150 meters below the 125 meters main adit level, assays from which were previously reported (see October 22, 2008 press release).

 

b)      A series of six fences of two or three holes each drilled along approximately 150 meters of strike of the Chépica No.2 Vein system, the fences being spaced approximately 25 meters apart. The holes within each fence test the Chépica No.2 Vein system at 25 meter intervals from 25 meters above to 75 meters below the 130 meter main adit level.

 

This program was designed to confirm and extend a copper-gold resource reported by ENAMI in 2005 that exists below the Chépica No.1 and Chépica No.2 main adits. Individual samples within the vein system intersected were selected based on vein characteristics. The intercept values reported in the table are weighted averages.

 

All but six of the Chépica No.1 drill holes and three of the Chépica No.2 drill holes cut what the Company believes are good grades of gold and copper over potentially mineable widths, the details of which can be found in the attached table. This drilling also demonstrates that the Chépica No.1 Vein system has good continuity and contains at least 3 strong on-echelon veins, nominally denoted as hanging wall, central and footwall veins in the attached table. Their widths typically range from 3 meters to over 12 meters. However, in holes 12, 17, 23, 25, 26, 35 and 54 two or more veins merge to form composite veins over 20 meters wide. The Chépica No.1 Vein system is open to extension along strike and to depth. The drilling on the Chépica No.2 Vein system also shows multiple veins; however, they are more irregular and widths typically range from 1.5 meters to 8 meters true width and can also merge to form composite veins up to 10 meters width. Plan sections of the No.1 Vein will be posted to the Polar Star website (www.polarstarmining.com). Attached is a map of the Chépica No.1 Vein system drill program.

 

The Company is continuing surface exploration of the five other gold and/or copper-gold bearing vein systems on the Chépica Project and 15 additional targets on its adjoining wholly owned Corinto and Batuco claims.

 

The Chépica Project

 

Polar Star currently owns a 15% equity interest in the Chépica Project and has the right to acquire the remaining 85% of the Chépica Mine by making cash payments totalling 2.7 billion Chilean Pesos (approximately US$ 4.3 million) by June 20, 2009, pending successful completion of its final due diligence review. 

 

This Chépica Project adjoins Polar Star’s wholly owned Corinto and Batuco claims. These claims plus the Chépica Project total 16,640 hectares in the Pencahue District, Region VII, Chile on which prior exploration by other companies has defined 15 gold and copper-gold zones. The Chépica Mine is currently being developed, by its current operator, to achieve a planned initial production of 200 tonnes per day increasing to over 500 tonnes per day by late 2009. Readers are cautioned that a feasibility study has not been completed and there is no certainty the proposed operations will be economically viable.

 

The Chépica Mine property, located 225 kilometres south of Santiago, near the city of Talca, covers the Cerro Chépica copper-gold mining district. It is readily accessible by paved and good gravel road from the city of Talca 20 kilometres to the east. See Polar Star’s news release of April 24, 2008 for additional information.

 

NI 43-101 Report

 

Polar Star has retained the services of SRK Consulting’s Santiago office (see October 22, 2008 press release) to prepare a National Instrument 43-101 compliant report on the Chépica No.1 Vein system property and to subsequently develop a mine plan.

 

Qualified Person

 

Mr. Terence Walker, M.Sc., P.Geo., is the qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release. Individual core samples were halved using a diamond core saw, one half bagged and sealed on site for assay the other half retained on site in sealed metallic core boxes for future reference. All analyses were carried out at ALS Patagonia Laboratories, Coquimbo, Chile. Routine gold analysis was carried out on 30g sub-samples using a fire assay pre-concentration and atomic absorption spectro-photogrametric (AAS) finish. Samples with values greater than 10g/t were re-analysed by fire assay and gravimetric finish. Silver and copper were also routinely analysed by ICP following hot four acid digestion. Samples with copper values over 1% were re-analysed using a hydrofluoric-nitric-hypochloric acid digestion, hydrochloric acid leach and AAS finish.

 

About Polar Star

 

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper-gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares. HudBay Minerals Inc. acquired 3,860,605 shares of Polar Star in July 2008 which represents approximately 9.8% of the outstanding shares of the Company.

 

Forward-Looking Statements

 

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements.  For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.polarstarmining.com.

Share Capitalization:

Shares Outstanding: 39,241,098 as at January 8, 2009.

 

For further information please contact:

 

Douglas Willock, President and CEO, Polar Star Mining Corporation

Telephone: 416-368-3496, Email: info@polarstarmining.com

 

 

Business Television Feature:

 

Polar Star was selected and featured on Business Television in early December 2008. If you missed the show, please click on the link below to watch the full-feature http://www.b-tv.com/features/watch-now.html?clip=BNNpolarstarmining.wmv.

 

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

Diamond Drill Results

Phase I Drill Results, Chépica Project  (See Note 1)

Hole #	From(m)		To(m)	Interval	Au g/t	Ag g/t	Cu%	Comments
Section 1
CH08-03	0.0		27.0	27.0	2.2	13.5	0.10	Oxide Zone
includes	14.0		24.0	10.0	5.4	14.0	0.13
includes	17.0		20.0	3.0	12.90	13.0	0.05	Foot Wall Vein
CH08-04	22.0		44.0	22.0	1.9	9.6	0.24	Sulphide Zone
includes	34.0		41.0	7.0	4.9	12.7	0.45
includes	34.0		36.0	2.0	11.89	27.5	0.58	Foot Wall Vein
Section 1A								Sulphide Zone
CH08-54*	32.0		36.0	4.0	2.67	25.0	0.68	Foot Wall Vein
CH08-55*	38.0		43.0	5.0	0.51	19.0	0.51	Center Vein
	48.0		50.0	2.0	3.01	28.0	1.66	Foot Wall Vein
CH08-56*	78.0		89.2	11.2	0.65	8.0	0.64	Sulphide Zone
Includes	85.5		89.2	3.7	1.20	7.0	0.77	Foot Wall Vein
Section 1B
CH08-57*	28.0		36.3	8.3	1.85	15.0	0.51	Sulphide Zone
Includes	32.0		36.3	4.3	2.99	8.0	0.61	Foot Wall Vein
CH08-58*	51.0		52.0	1.0	1.44	8.0	0.90	Sulphide Zone
	56.0		58.5	2.5	1.18	12.0	1.08	Foot Wall Vein
Section 2
CH08-01	0.0		33.0	33.0	2.12	5.5	0.06	Oxide Zone
Includes	10.0		14.0	4.0	14.5	5.5	0.07
	12.0		14.0	2.0	25.7	8.5	0.05	Foot Wall Vein
CH08-02	19.0		35.0	16.0	1.6	11.6	0.37	Sulphide Zone
Includes	28.0		35.0	7.0	3.7	17.0	0.39
	28.0		30.0	2.0	6.9	39.0	0.36	Foot Wall Vein
CH08-50*	42.0		49.0	7.0	1.42	12.3	0.52	Sulphide Zone
Includes	45.0		49.0	4.0	1.83	17.8	0.77	Foot Wall Vein
CH08-51*	61.0		74.0	13.0	2.2	11.3	1.27	Sulphide Zone
Includes	68.0		72.5	4.5	4.63	19.2	1.60	Foot Wall Vein
CH08-52*	86.0		93.3	7.3	1.38	10.7	0.80	Sulphide Zone
Includes	90.0		92.0	2.0	2.44	16.0	0.87	Foot Wall Vein
CH08-53*	69.0		72.0	3.0	0.55	25.3	2.76	Center Vein
Section 3
CH08-12	27.0		48.0	21.0	3.37	30	0.56	Sulphide Zone
Includes	32.0		34.0	2.0	0.74	19	1.59
	37.0		39.0	2.0	10.45	125	0.14	Foot Wall Vein
	36.0		47.0	11.0	4.28	34	0.34
CH08-15	38.0		46.0	8.0	0.37	8.6	0.35	Sulphide Zone
Includes	39.0		41.0	2.0	0.19	10.6	0.98	Center Vein
	54.0		57.0	3.0	1.58	44	0.59	Foot Wall Vein
CH08-17	51.0		96.0	45.0	2.1	10.8	0.70	Sulphide Zone
Includes	55.0		59.0	4.0	8.0	27.0	2.4	Center Vein
	73.0		90.0	17.0	3.0	8.5	0.89
	84.0		89.0	5.0	6.1	8.4	1.07
	84.0		86.0	2.0	12.8	14.5	1.96	Foot Wall Vein
Section 4
CH08-05	26.0		44.0	18.0	1.3	8.3	0.20	Sulphide Zone
Includes	40.0		43.0	3.0	6.1	8.7	0.63	Foot Wall Vein
CH08-06	36.0		41.0	5.0	0.22	7.8	0.63	Sulphide Zone
	50.0		60.0	10.0	0.83	5.5	0.63
Includes	51.0		55.0	4.0	1.12	5.8	0.63	Foot Wall Vein
CH08-07	Zone faulted out anomalous values Au, Ag Cu
Section 5
CH08-09	39.0		54.0	15.0	2.23	3.6	0.14	Sulphide Zone
Includes	47.0		50.0	3.0	10.09	6.7	0.59	Foot Wall Vein
CH08-10	14.0		21.0	7.0	0.43	1.6	0.03	Oxide Zone
	67.0		69.0	2.0	3.16	34.0	0.52	Sulphide Zone, Foot Wall Vein
CH08-13	17.0		18.0	1.0	1.21	4.0	0.02	Oxide Zone
	27.0		37.0	10.0	1.02	12.8	0.08	Oxide Zone
Includes	28.0		29.0	1.0	1.48	30.0	0.04	Hanging wall vein
Section 6
CH08-14	40.0		54.0	14.0	2.07	4.9	0.39	Sulphide Zone
Includes	43.0		46.0	3.0	2.70	10.7	1.27	Center Vein
	49.0		53.0	4.0	4.89	5.3	0.34	Foot Wall Vein
CH08-16	8.0		15.0	7.0	0.63	5.9	0.03	Oxide Zone
Includes	13.0		15.0	2.0	1.43	6.5	0.05
	56.0		60.0	4.0	1.12	923.0	1.13	Sulphide Zone, Foot Wall Vein
CH08-18	70.0		83.0	13.0	0.41	9.3	0.46	Sulphide Zone
Includes	76.0		79.0	3.0	0.77	22.3	0.96	Foot Wall Vein
CH08-20	28.0		35.8	7.8	2.06	15.4	0.42	Sulphide Zone, Hanging Wall Vein
Section 7
CH08-08	54.0		63.0	9.0	1.12	8.0	0.51	Sulphide Zone
Includes	60.0		62.0	2.0	2.45	14.0	0.89	Foot Wall Vein
CH08-11	34.2		35.8	1.6	0.52	30.0	1.70	Sulphide Zone, Hanging Wall Vein
	65.0		71.0	6.0	0.69	9.3	0.39
Includes	68.0		69.0	1.0	1.97	17.0	0.35	Center Vein
Section 8
CH08-22	39.0		51.0	12.0	3.3	9.3	0.44	Sulphide Zone
Includes	42.0		50.0	8.0	4.48	11.3	0.59
Includes	43.0		45.0	2.0	9.91	13.0	0.63	Foot Wall Vein
CH08-23	87.0		119.0	32.0	2.65	7.8	0.76	Sulphide Zone
Includes	93.0		106.0	13.0	5.88	8.4	0.45	Foot Wall Vein
Includes	110.0		113.0	3.0	1.27	13.7	3.16	Foot Wall Breccia
Section 9
CH08-21	30.0		41.0	11.0	0.75	11.9	0.53	Sulphide Zone
Includes	37.0		40.0	3.0	1.22	11.0	0.80	Foot Wall Vein
	44.0		46.0	2.0	0.38	4.0	0.55	Foot Wall Breccia
CH08-25	56.0		92.0	36.0	2.06	9.0	0.80	Sulphide Zone
Includes	59.0		68.0	9.0	2.38	21.0	1.89	Foot Wall Vein
Includes	59.0		64.0	5.0	1.97	30.0	2.62
	77.0		92.0	15.0	2.86	4.8	0.41	Center Vein
Includes	77.0		81.0	4.0	5.34	5.0	0.68
	110.0		122.0	12.0	1.09	3.5	0.33	Hanging Wall Vein
Includes	111.0		114.0	3.0	2.38	5.3	0.51
CH08-27	Zone displaced by faulting
CH08-29	26.0		39.0	13.0	0.63	7.7	0.73	Sulphide Zone
Includes	33.0		36.0	3.0	1.08	16.0	1.87	Foot Wall Vein
CH08-64*	90.0		95.0	5.0	0.75	6.0	0.51	Hanging Wall Vein
Includes	93.0		95.0	2.0	1.06	8.0	0.63
	102.0		106.0	4.0	1.65	7.5	0.67	Center Vein
Section 10								Sulphide Zone
CH08-24	34.7		38.0	3.3	4.29	28.0	1.20	Foot Wall Vein
	41.0		46.0	5.0	0.63	12.0	0.8	Foot Wall Breccia
CH08-26	61.0		99.0	38.0	4.32	7.6	0.4	Sulphide Zone
Includes	61.0		64.0	3.0	1.87	24.0	1.47	Foot Wall Vein
	73.0		76.0	3.0	2.76	11.3	0.67	Foot Wall Breccia
	86.0		98.0	12.0	13.32	11.4	0.64	Center Vein
	86.0		89.0	3.0	31.67	16.7	0.79
	107		145	38.0	1.28	8.8	0.52
Includes	109.0		113.0	4.0	4.53	16.5	0.80	Hanging Wall Vein
	142.0		145.0	3.0	2.38	14	0.93
CH08-28	Zone displaced by faulting
CH08-63*	105.0		110.0	5.0	1.48	14.0	0.96	Sulphide Zone
Includes	108.0		110.0	2.0	2.6	14.0	0.71	Center Vein
Section 11
CH08-32	Zone displaced by faulting
CH08-35*	76.0		83.0	7.0	2.5	16.3	0.89	Sulphide Zone
Includes	77.0		81.0	4.0	4.38	22.3	1.37	Foot Wall Vein
	96.0		108.0	12.0	2.44	5.5	0.36
Includes	99.0		103.0	4.0	4.53	4.0	0.31	Center Vein
	135.0		160.0	25.0	0.37	8.8	1.89
Includes	141.0		150.0	9.0	0.23	15.2	3.11	Hanging Wall Vein
	182.0		185.0	3.0	0.48	15.7	1.17
CH08-61*	83.0		89.0	6.0	1.67	7.0	0.28	Sulphide Zone
Includes	87.0		89.0	2.0	2.89	6.0	0.31	Foot Wall Vein
CH08-62*	103.0		110.0	7.0	1.45	26.0	2.08	Hanging Wall Vein
Section 12
CH08-38*	70.0		83.0	13.0	0.36	3.6	0.20	Sulphide Zone
Includes	79.0		83.0	4.0	0.39	5.5	0.59	Center Vein

 

Chépica 2 Vein System

Hole #	From(m)		To(m)	Interval		Au g/t	Ag g/t	Cu%	Comments
Section 1
CH08-47*	30.0		39.0	9.0		1.81	30.0	3.32	Sulphide Zone
includes	31.0		33.0	2.0		2.22	45.0	3.97	Foot Wall Vein
includes	36.0		39.0	3.0		0.86	49.0	6.40	Center Vein
CH08-48*	39.0		41.0	2.0		0.3	33.0	1.7	Center Vein
CH08-49*	No significant values								Low sulphides
Section 2
CH08-44*	No significant values								Low sulphides
CH08-46*	No significant values								Veins faulted out
Section 3
CH08-39*	46.0		49.0	3.0		0.13	3.0	0.82	Foot Wall Vein
CH08-40*	No significant values								Low sulphides
Section 4
CH08-42*	43.0		44.5	1.5		0.164	5.0	0.80	Center Vein
CH08-43*	58.0		60.0	2.0		4.96	4.0	1.17	Center Vein
	89.0		92.3	3.3		0.14	18.0	4.88	Foot Wall Vein
CH08-45*	43.1		44.1	1.0		0.122	6.0	0.55	Center Vein
Section 5
CH08-30*	47.0		53.0	6.0		1.2	19.0	1.00	Center Vein
CH08-31*	61.0		62.5	1.5		0.43	18.0	1.63	Hanging Wall Vein
	65.0		66.5	1.5		0.38	7.0	2.75	Center Vein
CH08-37*	19.4		22.0	2.6		1.55	22.0	0.05	Hanging Wall Vein
Section 6
CH08-33*	51.0		52.5	1.5		0.51	12	0.73	Center Vein
CH08-34*	64.0		67.5	3.5		0.29	19.0	2.20	Center Vein
CH08-36*	21.0		26.0	5.0		2.40	6.4	1.39	Center Vein
includes	21.0		24.0	3.0		3.03	8.3	1.69

 

Note 1

Drill holes CH08-01 through CH08-32 reported in news release dated October 22, 2008. The drill holes marked with an asterisk (*) are previously undisclosed results.

December 15, 2008

Chépica Option Extension Terminated

 

TORONTO, ON, December 15, 2008 – Polar Star Mining Corporation (TSXV:POS) (“Polar Star” or the “Company”) announces the termination of the Chépica Option Extension, previously announced on November 18, 2008. The Company currently owns a 15% equity interest in the Chépica mining property and mill (the “Chépica Project”) and continues to have the right to acquire the remaining 85% of the Chépica Mine by making cash payments totalling 2.7 billion Chilean Pesos (approximately US $4.2 million) by June 20, 2009, pending successful completion of its final due diligence review.

 

Qualified Person

 

Mr. Terence Walker, M.Sc., P.Geo., is the qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release.

 

About Polar Star

 

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper-gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares.

 

Forward-Looking Statements

 

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements.  For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.polarstarmining.com.

Share Capitalization:

Shares Outstanding: 39,241,098 as at December 15, 2008.

 

For further information please contact:

 

Douglas Willock, President and CEO, Polar Star Mining Corporation

Telephone: (416) 368-3496, Email: info@polarstarmining.com

 

Business Television Feature:

 

Polar Star was selected and featured on Business Television in early December 2008. If you missed the show, please click on the link below to watch the full-feature:

http://www.b-tv.com/features/watch-now.html?clip=BNNpolarstarmining.wmv

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

November 19, 2008

TORONTO, ON, November 19, 2008 – Polar Star Mining Corporation (“Polar Star”) has re-negotiated its option to purchase agreement on the Chépica mining property and mill (the “Chépica Project”) whereby Polar Star can now take operational control of the project and has three years to the pay the balance of the purchase price. Polar Star expects to complete documentation and closing of this restructured deal during December 2008.  The modified agreement terms are:  1) Polar Star will purchase an additional 5% equity of the Chépica Project for CP$150 million (approximately US$236,000 under today’s current exchange rates); 2) the remaining balance of the previously agreed purchase price will be increased by 20% at closing; and, 3) Polar Star has the option to pay this balance in part or in full at any time from the profits of any mining and milling operations which may occur over the next three years. There are no minimum cash amounts that are required to be paid during the three year period and Polar Star will be the sole operator. Closing will be subject to receipt of the usual regulatory approvals.

 

On November 14, 2008, as part of their on-going sampling and testing of operations on the Chépica N°2 Vein, the current owner/operators of the Chépica Project shipped 22 tonnes of test material from their onsite flotation mill to the Empresa Nacional de Minería, Chile (“ENAMI”) smelter at Valparíso. Their planned production rate of 200 tonnes per day is expected to be reached by the second quarter of 2009.

 

Polar Star’s initial 5,000 metre drill program at the Chépica Project is scheduled to be completed on or about November 30, 2008.

 

There is no current NI 43-101 compliant resource report on the Chépica Project however SRK International will be incorporating these results in a National Instrument 43-101 compliant report which is expected to be delivered in the first quarter of 2009.

 

Qualified Person

 

Mr. Terence Walker, M.Sc., P.Geo., is the qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release.

 

About Polar Star

 

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper-gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares. Polar Star announced the closing of a $5 million private placement on July 8, 2008 during which HudBay Minerals Inc. acquired 3,860,605 Units (approximately 9.8% of the now outstanding shares of the Company).

 

Forward-Looking Statements

 

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements.  For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.polarstarmining.com.

Share Capitalization:

Shares Outstanding: 39,241,098 as at November 19, 2008.

 

For further information please contact:

 

Douglas Willock, President and CEO, Polar Star Mining Corporation

Telephone: (416) 368-3496, Email: info@polarstarmining.com

 

Business Television Feature:

 

Polar Star was selected and featured on Business Television in early March 2008. If you missed the show, please click on the link below to watch the full-feature

http://www.b-tv.com/i/videos/PolarStar.wmv 

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

 

November 18, 2008

TORONTO, ON, November 18, 2008 – Polar Star Mining Corporation (“Polar Star”) has re-negotiated its option to purchase agreement on the Chépica mining property and mill (the “Chépica Project”) whereby Polar Star can now take operational control of the project and has three years to the pay the balance of the purchase price. Polar Star expects to complete documentation and closing of this restructured deal during December 2008.  The modified agreement terms are:  1) Polar Star will purchase an additional 5% equity of the Chépica Project for CP$150 million (approximately US$236,000 under today’s current exchange rates); 2) the remaining balance of the previously agreed purchase price will be increased by 20% at closing; and, 3) Polar Star has the option to pay this balance in part or in full at any time from the profits of any mining and milling operations which may occur over the next three years. There are no minimum cash amounts that are required to be paid during the three year period and Polar Star will be the sole operator. Closing will be subject to receipt of the usual regulatory approvals.

 

On November 14, 2008, as part of their on-going sampling and testing of operations on the Chépica N°2 Vein, the current owner/operators of the Chépica Project shipped 22 tonnes of test material from their onsite flotation mill to the Empresa Nacional de Minería, Chile (“ENAMI”) smelter at Valparíso. Their planned production rate of 200 tonnes per day is expected to be reached by the second quarter of 2008.

 

Polar Star’s initial 5,000 metre drill program at the Chépica Project is scheduled to be completed on or about November 30, 2008.

 

There is no current NI 43-101 compliant resource report on the Chépica Project however SRK International will be incorporating these results in a National Instrument 43-101 compliant report which is expected to be delivered in the first quarter of 2009.

 

Qualified Person

 

Mr. Terence Walker, M.Sc., P.Geo., is the qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release.

 

About Polar Star

 

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper-gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares. Polar Star announced the closing of a $5 million private placement on July 8, 2008 during which HudBay Minerals Inc. acquired 3,860,605 Units (approximately 9.8% of the now outstanding shares of the Company).

 

Forward-Looking Statements

 

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements.  For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.polarstarmining.com.

Share Capitalization:

Shares Outstanding: 39,241,098 as at November 18, 2008.

 

For further information please contact:

 

Douglas Willock, President and CEO, Polar Star Mining Corporation

Telephone: (416) 368-3496, Email: info@polarstarmining.com

 

Business Television Feature:

 

Polar Star was selected and featured on Business Television in early March 2008. If you missed the show, please click on the link below to watch the full-feature

http://www.b-tv.com/i/videos/PolarStar.wmv 

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

October 22, 2008

TORONTO, ON, October 22, 2008– Polar Star Mining Corporation (TSXV:POS) (“Polar Star” or the “Company”) announces preliminary results from the first thirty diamond drill holes completed on the Chépica N°1 Vein system as part of its ongoing due diligence review of the Chépica Mine property, Talca, Region VII, Chile. Drilling continues on the Chépica N°2 Vein system. The sulphide flotation plant installation at the Chépica Mine is complete with commissioning to start before October 31.

 

Highlights

 

·         30 diamond drill holes totalling 3,415 meters completed to date on the Chépica N°1 Vein system covering 280 meters of strike and 150 meters depth. Drilling on Chépica N°2 Vein system has commenced.

·         These drill holes demonstrate that the Chépica N°1 Vein system has good lateral and vertical continuity and contains at least 3 strong veins with widths typically ranging from 2 meters to over 12 meters.

·         In drill holes 12, 17, 23, 25, 26 and 35, two or more veins merge to form composite veins over 20 meters wide.

·         Weighted average grades from the individual veins include highs of over 2 meters of 12.8 g/t gold plus 1.96% copper to 3 meters of 31.67 g/t gold plus 0.78% copper.

·         Weighted average grades from composite veins include highs of over 21 meters of 3.37 g/t gold plus 0.56% copper to over 45 meters of 2.1 g/t gold plus 0.7% copper.

·         A mill has been installed on site and commissioning has commenced to produce a copper – gold concentrate from the Chépica N°2 adit.

 

Diamond Drill Results (see Summary Table attached)

 

Diamond Drilling Program

 

These initial thirty diamond drill holes complete a series of eleven fences of two-three holes drilled along approximately 280 meters of strike of the Chépica N°1 Vein system. The first ten fences were spaced at about 25 meters apart and fence number eleven was spaced 50 meters south of fence number 10. The holes within a fence test the Chépica N°1 Vein system at 25 meter intervals from 25 meters to 100 meters below the main adit level, assays from which were previously reported (see July 8, 2008 press release). This program was designed to confirm and extend a copper-gold resource reported by ENAMI (Empresa Nacional de Minería, Chile) in 2005 to exist below this adit. Individual samples within the vein system intersected were selected based on vein characteristics. The intercept values reported in the table are therefore weighted averages.

 

All but three of these drill holes cut, what management believes, are good grades of gold and copper over potentially mineable widths, the details of which can be found in the attached table. This drilling also demonstrates that the Chépica N°1 Vein system has good continuity and contains at least 3 strong on-echelon veins, nominally denoted as hanging wall, central and footwall veins in the attached table. Their widths typically range from 2 meters to over 12 meters, however, in holes 12, 17, 23, 25, 26 and 35 two or more veins merge to form composite veins over 20 meters wide. The Chépica N°1 Vein system is open to extension along strike to the south and to depth.

 

The Company continues to drill fences across the Chépica N°2 Vein system with the same objectives as the first phase drilling recently completed on the Chepica N°1 Vein system i.e. confirm and extend a copper-gold resource reported by ENAMI (Empresa Nacional de Minería, Chile) in 2005 to exist above and below the Chépica 2 adit.

 

The Chépica Mine

 

Polar Star currently owns a 15% equity interest in the Chépica Mine and has the right to acquire the remaining 85% of the Chépica Mine by making cash payments totalling 2.7 billion Chilean Pesos (approximately US$ 4.4 million) by June 20, 2009, pending successful completion of its final due diligence review. 

 

This Chépica Mine acquisition adjoins Polar Star’s wholly owned Corinto and Batuco claims. These claims plus the Chépica Mine property total 16,640 hectares in the Pencahue District, Region VII, Chile on which prior exploration by other companies has defined 15 gold and copper-gold zones. The Chépica Mine is currently being commissioned to achieve a planned initial production of 200 tonnes per day increasing to over 500 tonnes per day by mid 2009. The Chépica Mine will produce a copper-gold concentrate.

 

The Chépica Mine property, located 225 kilometres south of Santiago, near the city of Talca, covers the Cerro Chépica copper-gold mining district and is readily accessible by paved and good gravel road from the city of Talca 20 kilometres to the east. See Polar Star’s news release of April 24, 2008 for additional information.

 

NI 43-101 Report

 

Polar Star has retained the services of SRK Consulting’s Santiago to prepare a National Instrument 43-101 compliant report on the Chepica N°1 Vein system property, which is expected to be delivered within the next 3 months.

 

Qualified Person

 

Mr. Terence Walker, M.Sc., P.Geo., is the qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release. Individual core samples where halved using a diamond core saw, one half bagged and sealed on site for assay the other half retained on site in sealed metallic core boxes for future reference. All analyses were carried out at ALS Patagonia Laboratories, Coquimbo, Chile. Routine gold analysis was carried out on 30g sub-samples using a fire assay pre-concentration and atomic absorption spectro-photogrametric (AAS) finish. Samples with values greater than 10g/t were re-analysed by fire assay and gravimetric finish. Silver and copper were also routinely analysed by ICP following hot four acid digestion. Samples with copper values over 1% were re-analysed using a hydrofluoric-nitric-hypochloric acid digestion, hydrochloric acid leach and AAS finish.

 

About Polar Star

 

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper-gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares. Polar Star announced the closing of a $5 million private placement on July 8, 2008 during which HudBay Minerals Inc. acquired 3,860,605 Units (approximately 9.8% of the now outstanding shares of the Company).

 

Forward-Looking Statements

 

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements.  For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.polarstarmining.com.

Share Capitalization:

Shares Outstanding: 39,241,098 as at October 20, 2008.

 

For further information please contact:

 

Douglas Willock, President and CEO, Polar Star Mining Corporation

Telephone: (416) 368-3496, Email: info@polarstarmining.com

 

Business Television Feature:

 

Polar Star was selected and featured on Business Television in early March 2008. If you missed the show, please click on the link below to watch the full-feature http://www.b-tv.com/i/videos/PolarStar.wmv 

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

Diamond Drill Results

Hole N°	From	To	Interval	Au	Ag	Cu	Comments
(meters)		(meters)	(meters)	(meters)	(g/t)	(g/t)	(%)
Section 1
CH08-03	0.0	27.0	27.0	2.2	13.5	0.10	Oxide Zone
includes	14.0	24.0	10.0	5.4	14.0	0.13
includes	17.0	20.0	3.0	12.90	13.0	0.05	Footwall Vein
CH08-04	22.0	44.0	22.0	1.9	9.6	0.24	Sulphide Zone
includes	34.0	41.0	7.0	4.9	12.7	0.45
includes	34.0	36.0	2.0	11.89	27.5	0.58	Footwall Vein
Section 2
CH08-01	0.0	33.0	33.0	2.12	5.5	0.06	Oxide Zone
includes	10.0	14.0	4.0	14.5	5.5	0.07
	12.0	14.0	2.0	25.7	8.5	0.05	Footwall Vein
CH08-02	19.0	35.0	16.0	1.6	11.6	0.37	Sulphide Zone
includes	28.0	35.0	7.0	3.7	17.0	0.39
	28.0	30.0	2.0	6.9	39.0	0.36	Footwall Vein
Section 3
CH08-12	27.0	48.0	21.0	3.37	30	0.56	Sulphide Zone
includes	32.0	34.0	2.0	0.74	19	1.59
	37.0	39.0	2.0	10.45	125	0.14	Footwall Vein
	36.0	47.0	11.0	4.28	34	0.34
CH08-15	38.0	46.0	8.0	0.37	8.6	0.35	Sulphide Zone
includes	39.0	41.0	2.0	0.19	10.6	0.98	Center Vein
	54.0	57.0	3.0	1.58	44	0.59	Footwall Vein
CH08-17	51.0	96.0	45.0	2.1	10.8	0.70	Sulphide Zone
includes	55.0	59.0	4.0	8.0	27.0	2.4	Center Vein
	73.0	90.0	17.0	3.0	8.5	0.89
	84.0	89.0	5.0	6.1	8.4	1.07
	84.0	86.0	2.0	12.8	14.5	1.96	Footwall Vein
Section 4
CH08-05	26.0	44.0	18.0	1.3	8.3	0.20	Sulphide Zone
includes	40.0	43.0	3.0	6.1	8.7	0.63	Footwall Vein
CH08-06	36.0	41.0	5.0	0.22	7.8	0.63	Sulphide Zone
	50.0	60.0	10.0	0.83	5.5	0.63
includes	51.0	55.0	4.0	1.12	5.8	0.63	Footwall Vein
CH08-07	Zone faulted out anomalous values Au, Ag Cu

 

Hole N°	From	To	Interval	Au	Ag	Cu	Comments
	(meters)	(meters)	(meters)	(g/t)	(g/t)	(%)
Section 5
CH08-09	39.0	54.0	15.0	2.23	3.6	0.14	Sulphide Zone
includes	47.0	50.0	3.0	10.09	6.7	0.59	Footwall Vein
CH08-10	14.0	21.0	7.0	0.43	1.6	0.03	Oxide Zone
	67.0	69.0	2.0	3.16	34.0	0.52	Sulphide Zone, Footwall Vein
CH08-13	17.0	18.0	1.0	1.21	4.0	0.02	Oxide Zone
	27.0	37.0	10.0	1.02	12.8	0.08	Oxide Zone
includes	28.0	29.0	1.0	1.48	30.0	0.04	Hanging wall vein
Section 6
CH08-14	40.0	54.0	14.0	2.07	4.9	0.39	Sulphide Zone
includes	43.0	46.0	3.0	2.70	10.7	1.27	Center Vein
	49.0	53.0	4.0	4.89	5.3	0.34	Footwall Vein
CH08-16	8.0	15.0	7.0	0.63	5.9	0.03	Oxide Zone
includes	13.0	15.0	2.0	1.43	6.5	0.05
	56.0	60.0	4.0	1.12	923.0	1.13	Sulphide Zone, Footwall Vein
CH08-18	70.0	83.0	13.0	0.41	9.3	0.46	Sulphide Zone
includes	76.0	79.0	3.0	0.77	22.3	0.96	Footwall Vein
CH08-20	28.0	35.8	7.8	2.06	15.4	0.42	Sulphide Zone, Hanging Wall Vein
Section 7
CH08-08	54.0	63.0	9.0	1.12	8.0	0.51	Sulphide Zone
includes	60.0	62.0	2.0	2.45	14.0	0.89	Footwall Vein
CH08-11	34.2	35.8	1.6	0.52	30.0	1.70	Sulphide Zone, Hanging Wall Vein
	65.0	71.0	6.0	0.69	9.3	0.39
includes	68.0	69.0	1.0	1.97	17.0	0.35	Center Vein
Section 8
CH08-22	39.0	51.0	12.0	3.3	9.3	0.44	Sulphide Zone
includes	42.0	50.0	8.0	4.48	11.3	0.59
includes	43.0	45.0	2.0	9.91	13.0	0.63	Footwall Vein
CH08-23	87.0	119.0	32.0	2.65	7.8	0.76	Sulphide Zone
includes	93.0	106.0	13.0	5.88	8.4	0.45	Footwall Vein
includes	110.0	113.0	3.0	1.27	13.7	3.16	Footwall Breccia

 

Hole N°	From	To	Interval	Au	Ag	Cu	Comments
	(meters)	(meters)	(meters)	(g/t)	(g/t)	(%)
Section 9
CH08-21	30.0	41.0	11.0	0.75	11.9	0.53	Sulphide Zone
includes	37.0	40.0	3.0	1.22	11.0	0.80	Footwall Vein
	44.0	46.0	2.0	0.38	4.0	0.55	Footwall Breccia
CH08-25	56.0	92.0	36.0	2.06	9.0	0.80	Sulphide Zone
includes	59.0	68.0	9.0	2.38	21.0	1.89	Footwall Vein
includes	59.0	64.0	5.0	1.97	30.0	2.62
	77.0	92.0	15.0	2.86	4.8	0.41	Center Vein
includes	77.0	81.0	4.0	5.34	5.0	0.68
	110.0	122.0	12.0	1.09	3.5	0.33	Hanging Wall Vein
includes	111.0	114.0	3.0	2.38	5.3	0.51
CH08-27	Zone displaced by faulting
CH08-29	26.0	39.0	13.0	0.63	7.7	0.73	Sulphide Zone
includes	33.0	36.0	3.0	1.08	16.0	1.87	Footwall Vein
Section 10							Sulphide Zone
CH08-24	34.7	38.0	3.3	4.29	28.0	1.20	Footwall Vein
	41.0	46.0	5.0	0.63	12.0	0.8	Footwall Breccia
CH08-26	61.0	99.0	38.0	4.32	7.6	0.4	Sulphide Zone
includes	61.0	64.0	3.0	1.87	24.0	1.47	Footwall Vein
	73.0	76.0	3.0	2.76	11.3	0.67	Footwall Breccia
	86.0	98.0	12.0	13.32	11.4	0.64	Center Vein
	86.0	89.0	3.0	31.67	16.7	0.79
	107	145	38.0	1.28	8.8	0.52
includes	109.0	113.0	4.0	4.53	16.5	0.80	Hangingwall Vein
	142.0	145.0	3.0	2.38	14	0.93
CH08-28	Zone displaced by faulting
Section 11
CH08-32	Zone displaced by faulting
CH08-35	76.0	83.0	7.0	2.5	16.3	0.89	Sulphide Zone
includes	77.0	81.0	4.0	4.38	22.3	1.37	Footwall Vein
	96.0	108.0	12.0	2.44	5.5	0.36
includes	99.0	103.0	4.0	4.53	4.0	0.31	Center Vein
	135.0	160.0	25.0	0.37	8.8	1.89
includes	141.0	150.0	9.0	0.23	15.2	3.11	Hangingwall Vein
	182.0	185.0	3.0	0.48	15.7	1.17

 

 

September 24, 2008

TORONTO, ON– September 24, 2008 Polar Star Mining Corporation (TSXV:POS) (“Polar Star” or the “Company”) announces an exploration update on its Montezuma copper porphyry and Chépica Copper-Gold Mine projects. 

 

Highlights:

Montezuma

·         Old workings, geological and geochemical surveys define a highly prospective belt 2-5 km wide by 30 km long centred on the West Fissure Fault System.

·         A large I.P. Chargeability/Resistivity anomaly 1 to 1.6 kilometres wide, 12 kilometres long, extending to depths of at least 300 to 350 metres has been identified by the ongoing geophysical survey within this belt, along with several other Chargeability/Resistivity anomalies (see attached Montezuma Project map).

·         Property consists of 43,200 hectares, and is located 30 km due south of Codelco’s Chuquicamata Mine and Smelter Complex.

·         Covers 25 km of the West Fissure Fault System and associated splays, which hosts many large porphyry copper deposits including Chuquicamata (see attached Codelco North Division map) and Escondida.

 

Chépica Mine

·         28 diamond drill holes completed to date on the Chépica N°1 Vein system covering 270 metres of strike and to 150 metres depth (see attached Chépica N°1 Vein map). Drill results are expected to be released during the fourth quarter. Drilling on Chépica N°2 vein system has commenced.

·         The system demonstrates good continuity and contains at least 3 strong veins with widths from 3 metres to over 20 metres.

·         A mill has been installed on site and commissioning has commenced to produce a copper – gold concentrate.

 

The Montezuma Project

 

The Montezuma Project consists of a contiguous group of 100% owned exploration concessions staked by Polar Star. As noted above, the West Fissure Fault System is well known for the exceptional size of its deposits. The Chilean Mine Handbook reported that in 2007 the BHP/RTZ owned Escondida Mine produced 1.5 million tonnes of copper and had copper reserves of 4.3 billion tonnes at an average grade of 0.81% Cu. The Corporaciόn Nacional del Cobre’s (“Codelco”) El Norte Division, which includes Chuquicamata, reported production of 0.9 million tonnes of copper, reserves of 2.3 billion tonnes and an average grade of 0.79% Cu during the same period.

 

The Montezuma Project is located in the Sierra Limon Verde oxide copper mining district and is readily accessible by paved and good gravel road from the city of Calama, 20 kilometers to the north. The project consists of three groups of exploration concessions; Montezuma, Topater and Limonal totaling 43,200 hectares staked and owned 100% by Polar Star.

 

The Property lies within the central sub-zone of the main Chilean porphyry belt and covers approximately 25 km of strike of the West Fissure Fault System and associated sub-parallel and NW-SE cross-cutting ancillary faults. The hills of Sierra Limon Verde which cover the Limonal, north and west half of the Montezuma claims generally expose the same group of metamorphosed Paleozoic intrusive, volcanic and sedimentary rocks that host the Chuquicamata porphyry copper deposits. The rest of the Montezuma claims and most of the adjacent Topater claims are covered by pediment gravels derived from the local hills.

 

Polar’s geological and geochemical surveys to date have identified several large areas of leached, hematite stained and sulphate rich caps containing minor amounts of copper wad and chrysocola developed along and lateral to the West Fissure Fault System where it strikes through the northern claims of the Montezuma group and within the Topater group, quartz-tourmaline-copper-gold veins and stockworks of the type commonly found peripheral to porphyry systems.

 

There are no public records of mining or exploration activity in the property area. There are however three groups of old drill holes of unknown origin in the central and southern part of the Montezuma property along the projection of the West Fissure Fault System. Cuttings from a number of these holes show propylitic to phyllic alteration assemblages containing disseminated and veinlet pyrite plus minor chalcopyrite and bornite.

 

On-going Induced Polarisation-Resistivity surveys along a belt some 6-7 kms wide covering the trace of the West Fissure Fault System and adjacent N-NNE trending splays and cross faults have detected several anomalies. The main anomaly, which is entirely covered either by a sulphate cap or pediment gravels is 1.2 – 1.6 kilometres wide, to date is over 12 kilometres long and extends to depths of 300-350 metres. It straddles the West Fault to the south but to the north follows two sub-parallel cross faults which trend NNE towards the copper bearing veins and stockworks.

 

The Chépica Mine

 

Polar Star currently owns a 10% equity interest in the Chépica Mine and will purchase a further 5% for 150 million Chilean Pesos (approximately US$282,000) on or about September 26, 2008. Polar Star has the right to acquire the remaining 85% of the Chépica Mine by making cash payments totalling 2.7 billion Chilean Pesos (approximately US$ 5.1 million) by June 20, 2009, pending successful completion of its final due diligence review. 

 

This Chépica Mine acquisition adjoins Polar Star’s wholly owned Corinto and Batuco claims. These claims plus the Chépica Mine property total 16,640 hectares in the Pencahue District, Region VII, Chile on which prior exploration by other companies has defined 15 high grade gold and copper-gold zones (see attached Talca Property map). The Chépica Mine is currently being commissioned to achieve a planned initial production of 200 tonnes per day increasing to over 500 tonnes per day by mid 2009. The Mine will produce a copper-gold concentrate.

 

The Chépica Mine property, located 225 kilometres south of Santiago, near the city of Talca, covers the Cerro Chépica high grade copper-gold mining district. It is readily accessible by paved and good gravel road from the city of Talca 20 kilometres to the east. See Polar Star’s news release of April 24, 2008 for additional information.

Qualified Person

 

Mr. Terence Walker, M.Sc., P.Geo., is the qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release.

 

About Polar Star

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares. HudBay Minerals Inc. owns 3,860,605 shares of Polar Star (approximately 9.9% of the outstanding shares of the Company, as at July 8, 2008).

 

Forward-Looking Statements

 

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.polarstarmining.com.

Share Capitalization:

 

Shares Outstanding: 39,241,098 as at September 24, 2008. 

 

For further information please contact:

 

Douglas Willock, President and CEO, Polar Star Mining Corporation Telephone: 416-368-3496, E-mail: info@polarstarmining.com

Business Television Feature:

 

Polar Star was selected and featured on Business Television in early March 2008. If you missed the show, please click on the link below to watch the full-feature

http://www.b-tv.com/i/videos/PolarStar.wmv

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

 

 

 

 

 

 

 

August 25, 2008

TORONTO, ON, August 25, 2008 – Polar Star Mining Corporation (TSXV:POS)(PINK SHEETS:POSRF) (“Polar Star” or the “Company”) is pleased to announce the completion of its non-brokered private placement of 277,000 units of the Company (“Units”) for $0.65 per Unit, resulting in gross proceeds of $180,050.  Combined with the previously announced completion of its brokered private placement, the Company has issued 7,692,400 Units for $0.65 resulting in total gross proceeds of $5,000,060.  Each Unit consists of one common share and one half of one warrant.  Each whole warrant entitles the holder to subscribe for one common share for $1.00 per common share for a period of 18 months following the closing of the offer.  HudBay Minerals Inc. was the lead order in the previously announced brokered private placement, subscribing for 9.9% of Polar Star’s outstanding shares as at July 8, 2008.

 

About Polar Star Mining Corporation

 

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 141,000 hectares.

 

Forward-Looking Statements

 

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements.  For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.polarstarmining.com.

 

Share Capitalization:

 

Shares Outstanding: 39,241,098 as at August 25, 2008.

 

For further information please contact:

 

Douglas Willock, President and CEO, Polar Star Mining Corporation

Telephone: 416-368-3496, Email: info@polarstarmining.com

 

Business Television Feature:

 

Polar Star was selected and featured on Business Television in early March 2008. If you missed the show, please click on the link below to watch the full-feature

http://www.b-tv.com/i/videos/PolarStar.wmv 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

August 11, 2008

TORONTO, ON– August 11, 2008 Polar Star Mining Corporation (TSXV:POS)(PINK SHEETS:POSRF) (“Polar Star” or the “Company”) announces that it has acquired an additional 5% equity interest in the Chépica Mine by paying 150 million Chilean Pesos (approximately US$293,000).  In addition, Polar Star has amended the Chépica Acquisition Agreement to enable the acquisition of the remaining 15% equity interest for 600 million Chilean Pesos (approximately US$1.2 million) on or before June 20, 2009.  Pending successful completion of its final due diligence review, Polar’s acquisition cost for the remaining 90% equity interest is 2.85 billion Chilean Pesos (approximately US$5.6 million), due on or before June 20, 2009. The acquisition of 100 per cent of the mine will therefore total 3.15 billion Chilean Pesos (approximately US$6.2 million). A feasibility study has not been completed and there is no certainty the proposed operations will be economically viable.

 

The Chépica Mine

 

This Chépica Mine acquisition adjoins Polar Star’s wholly owned Corinto and Batuco claims. These claims plus the Chépica Mine property total 16,640 hectares in the Pencahue District, Region VII, Chile on which prior exploration by other companies has defined 15 high grade gold and copper-gold zones. The Chépica Mine is scheduled to go into production during the third quarter of this year at a planned initial production of 200 tonnes per day increasing to over 500 tonnes per day by mid 2009. The Mine will produce a copper-gold concentrate.

 

The Chépica Mine property, located 225 kilometers south of Santiago, near the city of Talca, covers the Cerro Chépica high grade copper-gold mining district. It is readily accessible by paved and good gravel road from the city of Talca 20 kilometers to the east. See Polar Star’s news release of April 24, 2008 for additional information.

 

Qualified Person

 

Mr. Terence Walker, M.Sc., P.Geo., is the qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release.

 

About Polar Star

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper gold, and uranium. The Corporation’s material assets include 20 projects in Chile, which are 100% owned and cover approximately 141,000 hectares.  Polar Star announced the closing of a $5 million private placement on July 8, 2008 during which HudBay Minerals Inc. acquired 3,860,605 Units (approximately 9.9% of the outstanding shares of the Company, as at July 8, 2008).

 

Forward-Looking Statements

 

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors, refer to Polar Star Mining Corporation’s filings with Canadian securities regulators available on www.sedar.com  or the Company’s website at www.polarstarmining.com. 

 

Share Capitalization: 

 

Shares Outstanding: 39,164,098 as at August 11, 2008. 

 

For further information please contact:

 

Douglas Willock, President and CEO, Polar Star Mining Corporation

Telephone: 416-368-3496, E-mail: info@polarstarmining.com

 

Business Television Feature:

 

Polar Star was selected and featured on Business Television in early March 2008. If you missed the show, please click on the link below to watch the full-feature

http://www.b-tv.com/i/videos/PolarStar.wmv

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.