Polar Star announces granting of options


    TSX-V: PSR

TORONTO, Sept. 29, 2009 /CNW/ - Polar Star Mining Corporation ("Polar Star" or the "Company") is pleased to announce that is has granted Adam Rochacewich, Chief Financial Officer of Polar Star, options to acquire up to an aggregate of 200,000 common shares of the Company. The options are exercisable at $0.50 per share and expire on September 29, 2014. The options are subject to the following vesting schedule: (i) 70,000 on grant (ii) 65,000 on Sept 29, 2010 and (iii) 65,000 on Sept 29, 2011.

Not for distribution to United States wire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Polar Star Mining Corporation

Polar Star is an emerging exploration mining company with a focus on building value in Chile through discovery and development. The company has approximately 263,000 hectares of mineral claims that have been awarded or are in the process of being awarded in Chile.

Montezuma is Polar Star's 100% owned flagship property located on the prolific West Fault in Region II, Chile. Montezuma is flanked to the north by Codelco's Chuquicamata mine, one of the world's largest producing copper mines and to the south by Antofagasta plc's new $2.3 billion Esperanza copper/gold/molybdenum project expected to begin production in 2010.

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: 59,831,241 as at September 29, 2009, including

    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.

%SEDAR: 00025710E

SOURCE Polar Star Mining Corporation

For further information: For further information: David Speck, VP of Corporate Development Polar Star Mining Corporation, Telephone: (416) 368-3496, Email: info@polarstarmining.com

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Polar Star Mining Corporation

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