/NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES/
TORONTO, May 21, 2009 /CNW/ - Polar Star Mining Corporation ("Polar Star"
or the "Company") announced it has applied to the Ontario Securities
Commission for an extension of the filing of its National Instrument 43-101
technical report (the "Report") on the Chépica Project. The Company, together
with SRK Consulting, has refined the geostatistical parameters of the resource
model, which may impact the grade and tonnes first previously reported on
April 8, 2009. "We instituted a disciplined procedure to examine the draft SRK
Consulting Report and all agreed we needed more time to complete the process,"
said Doug Willock, President and CEO of Polar Star.
The extension relates to a draft of the Report, which the Company
received on April 7, 2009 and reported on April 8, 2009. The Report was
received and the press release was issued prior to the election of the new
board of the Company on April 20, 2009. Investors should not rely on the
information in the previous draft report and mineral resource estimate until
the final Report is filed.
The Company will issue a news release when the final Report is filed on
SEDAR which is expected to occur on or before June 23, 2009.
The qualified person within the meaning of National Instrument 43-101 is
Mr. Terence Walker, M.Sc., P.Geo. Mr. Walker has reviewed the contents of this
This press release may contain 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
About Polar Star Mining Corporation
Polar Star was created to acquire advanced stage exploration properties
focusing on gold, copper, and uranium. The Company's material assets include
20 projects in Chile, which are 100% owned and cover approximately 146,112
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.
For further information:
For further information: Douglas Willock, President and CEO, Polar Star
Mining Corporation, (416) 368-3496, firstname.lastname@example.org