Chepica Option Extension Terminated
December 15 2008 - 4:03PM
Marketwired
Polar Star Mining Corporation (TSX VENTURE: POS) ("Polar Star" or
the "Company") announces the termination of the Chepica Option
Extension, previously announced on November 18, 2008. The Company
currently owns a 15% equity interest in the Chepica mining property
and mill (the "Chepica Project") and continues to have the right to
acquire the remaining 85% of the Chepica 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.
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:
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.
Contacts: Polar Star Mining Corporation Douglas Willock
President and CEO (416) 368-3496 Email: info@polarstarmining.com
Website: www.polarstarmining.com
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