Polaris secures additional shipping capacity

    VANCOUVER, Dec. 17 /CNW/ - Polaris Minerals Corporation (TSX:PLS) today
announced that it has signed a 15-year Contract of Affreightment with CSL
International Inc. (CSL) for 2.8 million tons per annum of additional shipping
capacity, beginning in 2010.
    Under the contract, this additional shipping capacity will be met by a
new 75,000 ton capacity Panamax vessel, to be constructed by CSL. This
contract is incremental to the existing 10-year shipping agreement with CSL,
which provides up to 5 million tons per annum of shipping capacity, and is in
addition to the existing shipping arrangements established by some of Polaris'
customers for deliveries into Hawaii and Vancouver. The new Panamax vessel
will be available to carry construction aggregate between the Orca Quarry and
the proposed Eagle Rock Quarry, both on Vancouver Island, and port terminals
in California.
    Marco Romero, Polaris President and CEO, said "This is another great step
forward for Polaris. We have significantly increased our shipping capacity at
excellent long-term rates. This deal provides us with certainty at a time when
shipping markets are highly volatile. Reliable and cost-effective rapid
self-discharge ships are a vital link in our logistical chain, and we are
extremely pleased to have CSL as our partner, as they are the world leader in
this trade. We look forward to the arrival of this new ship on the west coast
of North America in 2010."
    David King, Vice-President, CSL West Coast Operations, commented: "CSL is
thrilled to be given the opportunity to provide this additional shipping
capacity to Polaris." He added: "From the outset the Polaris team has not only
met but exceeded our corporate expectations."

    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. In 2007 Polaris began shipping sand and gravel
from the Orca Quarry to San Francisco Bay, Vancouver, BC 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, 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: Marco Romero, President & CEO, or Mike
Westerlund, Director, Corporate Development, Polaris Minerals Corporation,
Tel: (604) 915-5000, info@polarmin.com

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