Douglas Willock provides update to shareholders of Polar Star



    TORONTO, Feb. 18 /CNW/ - Douglas Willock today released the following
statement:

    "The following is an update of recent and upcoming activities since I
last communicated with you in our efforts to replace the board of directors of
Polar Star Mining Corporation ("Polar Star"). We continue to strengthen the
support of shareholders holding a majority of the common shares of Polar Star.

    Special Shareholders' Meeting: We are pleased to report that the Annual
and Special Meeting of Shareholders for Polar Star has been fixed for April
17, 2009. The record date for voting at the meeting has been set at March 13,
2009. These dates reflect the recommendations by the Special Committee in
their report to the Board of Directors of Polar Star on February 13, 2009.
Consistent with the Settlement approved by the Ontario Superior Court of
Justice on February 5, 2009, the board of directors of Polar Star accepted the
Special Committee's recommendation.

    Financing: Yesterday, Polar Star announced the closing of $7 million of
its previously announced $8 million financing. We are very pleased to report
that supporters of the requisitioned meeting and replacement of the board of
directors of Polar Star subscribed for $4 million being the full amount
allotted to my supporters pursuant to the Settlement. As a result, and
regardless of how and if the remaining $1 million is subscribed for, we will
continue to have the support of a clear majority of the shares of Polar Star.

    Meeting Circular: We are currently working with supporters and counsel on
preparing a Meeting Circular and proxy, both of which we intend on filing
shortly. The circular will reinforce the vision I have for Polar Star and the
slate of directors I will be presenting at the meeting and who will be
championing this vision. I do not take the support I have received to date for
granted and intend on continuing to impress on my supporters the superiority
of the vision I have for Polar Star, and the importance of corporate
democracy. To those who have not yet heard my vision and views on building
shareholder value, I also intend on using the Meeting Circular to articulate
these views and to earn their trust and confidence.

    Defensive Tactics: We continue to be vigilant in our review of all
actions undertaken by the board and management and will not hesitate to
protect our rights and specifically the rights of the shareholders to have
their voice heard.
    I appreciate the overwhelming support I have continued to receive from so
many shareholders and stakeholders. I will continue to keep you posted and
look forward to engaging directly with you after filing my meeting circular."





For further information:

For further information: Wes Hall, CEO, Kingsdale Shareholder Services
Inc. at (416) 867-2342

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DOUGLAS WILLOCK

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