PSR Polar Star Mining Corporation

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


Polar Star Mining Corporation ("Polar Star" or the "Company")(TSX VENTURE:PSR)
announced today that it will hold its annual and special meeting of shareholders
on April 17, 2009. The time and location of the meeting will be announced in due
course. The record date for voting at the meeting has been established as the
close of business on March 13, 2009.


The special meeting has been called, and the date set consistent with the Canada
Business Corporations Act, by the Company's Board of Directors which unanimously
approved the recommendation of its special committee of independent directors,
formed on January 29, 2009.


The meeting is being held as a result of a requisition from dissident
shareholder Douglas Willock who served under contract as the Company's President
and CEO and remains a Director of the Company. Mr. Willock has stated he is
seeking to remove the current Board of Directors of Polar Star and replace them
with his own nominees.


Polar Star will issue a management information circular and provide a form of
proxy for all shareholders in advance of the meeting. The circular is expected
to be mailed by March 26, 2009 and to include a recommendation to shareholders
from the Board of Directors.


"Polar Star shareholders may question whose interests have been served by Mr.
Willock's actions in requisitioning the meeting and in the subsequent days,"
said Stephen G. Roman, Executive Chairman of Polar Star. "The Board expects to
provide its recommendations in relation to the nominees selected by Mr. Willock
once their identity is disclosed."


About Polar Star Mining Corporation

Polar Star was created to acquire advanced stage exploration properties focusing
on gold, copper, 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

This press release contains forward-looking statements based on assumptions,
uncertainties and management's best estimates of future events. Actual events or
results could differ materially from the Company's expectations and projections.
Investors are cautioned that forward-looking statements involve risks and
uncertainties. Accordingly, readers should not place undue reliance on
forward-looking statements. When used herein, words such as "anticipate",
"will", "intend" and similar expressions are intended to identify
forward-looking statements. For a more detailed discussion of such risks and
other factors that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements, 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 February 5, 2009.

Polar Star (TSXV:PSR)
Historical Stock Chart
From Jun 2024 to Jul 2024

Polar Star (TSXV:PSR)
Historical Stock Chart
From Jul 2023 to Jul 2024