Polaris Minerals announces management transition

    VANCOUVER, July 14 /CNW/ - The Board of Polaris Minerals Corporation
(TSX: PLS) today announced that, effective January 1, 2009, Herbert G. A.
Wilson, the Company's Senior Vice President and Chief Operating Officer, will
succeed Marco Romero as President and CEO of the Company. Thereafter
Mr. Romero, the Company's founder, will remain a director and also be
available to assist management, under the terms of a long-term advisory
agreement. Mr. Wilson has been appointed to the Board of Directors of the
Company effective immediately.
    Roman Shklanka, Chairman, commented: "This is a natural transition that
has been in the planning stages for some time, recognizing that the Company
was evolving from the entrepreneurial start-up phase to a maturing
construction materials producer. Herb Wilson has had an extensive management
career in the construction aggregates industry and has been responsible for
the construction and operation of our world-class assets since joining the
Company seven years ago. The board has every confidence in his abilities." He
continued: "We would like to recognize Marco Romero's outstanding achievement
in building Polaris from an idea to a successful operating company. We are
pleased that he has agreed to continue his association with the Company
following this transition and wish him every success in his future
    Marco Romero, President and Chief Executive Officer, commented: "It was
always my intention to achieve a well planned management transition. I know
that the Company is now in very capable hands. Herb is an experienced operator
and he possesses in-depth knowledge of our company. He has worked hard and
played a key role in building Polaris since 2001. He has fully earned this
position. I strongly support his promotion." Mr. Romero continued: "We have
been entrusted with unique and irreplaceable assets, and we have put in place
all of the elements to manage them in a responsible and sustainable manner. We
have been given the social license to operate and grow Polaris into a major
long-term player in the west coast construction materials industry. Despite
the unprecedented economic headwinds affecting our sector at this time, the
Company's business model is perfectly sound. I will remain committed to
Polaris' long-term success and will support Herb Wilson in any way that I can,
so that he can deliver to our shareholders and partners the true long-term
value of our exceptional mineral deposits."
    Herb Wilson added: "We have set the stage for Polaris to achieve its long
term goals through Marco Romero's vision and perseverance, and I am confident
that we will continue growing a solid business on the foundations established.
I look forward to continuing to work with him in his new role. The high
professional, environmental and social standards, and the respectful partner
relationships, established by him, for which the Company has received so much
recognition, will remain central to our plans."

    Polaris Minerals Corporation is exclusively focused on the development of
quarries and the production of construction aggregates on Vancouver Island,
British Columbia, for marine transport to urban markets on the west coast of
North America to meet growing local supply deficits. In 2007, Polaris began
shipping sand and gravel from the Orca Quarry to San Francisco Bay, Vancouver,
and Hawaii.

    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, 2007, 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: Marco Romero, President & CEO or Herb Wilson,
Chief Operating Officer, Polaris Minerals Corporation, Tel: (604) 915-5000,

Organization Profile

Polaris Minerals Corporation

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890