Polaris Enters into a Long-term Strategic Alliance with CEMEX

    VANCOUVER, Sept. 26 /CNW/ - CEMEX, Inc. (NYSE-CX) and Polaris Minerals
Corporation (TSX-PLS) today announced that they have entered into a long-term
supply and distribution agreement for marine transported construction
aggregates in the states of California, Oregon and Washington. For this three
state area, the parties have agreed that CEMEX will be the exclusive marketer
for Polaris and Polaris will be the exclusive supplier to CEMEX of marine
transported construction aggregates for CEMEX's internal use and for sales by
CEMEX to third parties. Polaris has already commenced sand and gravel
shipments from the Orca Quarry to the two existing CEMEX terminals in San
Francisco Bay. In addition, the two companies have entered into an alliance
for the development of future construction aggregates import terminals in the
same territory.
    Included in the strategic alliance is an expectation that Polaris will
develop its 70 percent owned Eagle Rock Quarry at a time to be determined by
market demand. The parties have agreed to cooperate in the pursuit of markets
and terminal capacity for Eagle Rock crushed granite products. The existing
Polaris construction aggregate supply and distribution agreement covering the
four northern California counties of Marin, Sonoma, Mendocino and Napa is
unaffected by this alliance.
    "In a market where the long-term availability of construction aggregates
is not assured, the realization of this transaction with Polaris secures the
availability of high quality aggregates for our customers as well as our
affiliate ready-mix operations for many years ahead," said Gilberto Perez,
President of CEMEX USA.
    Commenting on this new relationship, Marco Romero, President & CEO,
Polaris Minerals Corporation, said, "Since the creation of Polaris, we have
focused on three principal elements in order to achieve our business plan: the
ownership of high quality and long-term aggregate resources, the securing of
cost effective shipping capacity, and the establishment of gateways into the
market through strategically located port terminals. Through this landmark
agreement with CEMEX, we have made a quantum leap in the third vital
component. As a result, we now expect that the anticipated volume of sales
through existing terminals, coupled with the expectation of new terminal
development in southern California and sales to existing customers, should
exceed our earlier sales projections for the Orca Quarry, all at market
prices. Additionally, we are closer to making the Eagle Rock Quarry a
reality." He continued, "CEMEX is a leading consumer, producer and distributor
of construction aggregates in California and, in common with other major
companies in the aggregate industry, relies on the availability of long-term
high quality aggregate resources to best serve its customers. At a stroke,
both Polaris and CEMEX have achieved many strategic objectives and we look
forward to a long and mutually rewarding relationship with our new partner."

    Conference Call

    Polaris will host a conference call at 7 a.m. PDT on Wednesday, September
26. Investors and other interested parties may access the teleconference live
by calling 416.644.3420, or 800.595.8550 in North America or internationally,
and 00.800.2288.3501 from the United Kingdom.

    A live Web cast of the conference call will be available through the link
below: http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2025100

    The Web cast will be archived for 90 days following the call.

    The conference call will be recorded and available for replay from
Wednesday, September 26 at 9:00 a.m. PDT and will be available until
Wednesday, October 10. In North America, dial 877.289.8525 and for
international calls, dial 416.640.1917. The access code to hear the recording
is 21248339 followed by the number sign.

    CEMEX is a growing global building materials company that provides high
quality products and reliable service to customers and communities in more
than 50 countries throughout the world. CEMEX has a rich history of improving
the well-being of those it serves through its efforts to pursue innovative
industry solutions and efficiency advancements and to promote a sustainable
future. For more information, visit www.cemexusa.com.

    Polaris Minerals Corporation is exclusively focused on the development of
quarries and the production of construction aggregates in British Columbia for
marine transport to urban markets on the west coast of North America to meet
growing local supply deficits.

    This press release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable securities
laws. These statements and information appear in this document and include
estimates, forecasts, information and statements as to management's
expectations with respect to, among other things the future financial or
operating performance of the Company, costs and timing of the development of
the construction aggregate quarry, the timing and amount of estimated future
production, costs of production, capital and operating expenditures,
requirements for additional capital, government regulation of quarrying
operations, environmental risks, reclamation expenses, and title disputes.
Often, but not always, forward-looking statements and information can be
identified by the use of words such as "may", "will", "should", "plans",
"expects", "intends", "anticipates", "believes", "budget", and "scheduled" or
the negative thereof or variations thereon or similar terminology.
Forward-looking statements and information are necessarily based upon a number
of estimates and assumptions that, while considered reasonable by management,
are inherently subject to significant business, economic and competitive
uncertainties and contingencies. Readers are cautioned that any such
forward-looking statements and information are not guarantees and there can be
no assurance that such statements and information will prove to be accurate
and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations are disclosed
under the heading "Risks and Uncertainties" in the Company's Annual Report and
under the heading "Risk Factors" in the Company's Annual Information Form
(AIF) in respect of its financial year-ended December 31, 2006, both of which
are filed with Canadian regulators on SEDAR ( www.sedar.com ). The Company
expressly disclaims any intention or obligation to update or revise any
forward-looking statements and information whether as a result of new
information, future events or otherwise. All written and oral forward-looking
statements and information attributable to us or persons acting on our behalf
are expressly qualified in their entirety by the foregoing cautionary

For further information:

For further information: CEMEX Media Relations, Jennifer Borgen,
External Communications Manager, (713) 650-6200; Polaris Minerals Corporation,
Marco Romero, President and Chief Executive Officer, or Mike Westerlund,
Director, Corporate Development, (604) 915-5000; Web site: www.polarmin.com,
Email: info@polarmin.com

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