Polar Star Mining Corporation

Polar Star Mining Corporation

January 15, 2008 17:29 ET

Polar Star Mining Corporation-Los Azules Drilling Program

TORONTO, ONTARIO--(Marketwire - Jan. 15, 2008) - Polar Star Mining Corporation (TSX VENTURE:POS)(PINK SHEETS:POSRF) ("Polar Star" or the "Company") is pleased to announce that a diamond drilling program of an initial 2,500 metres commenced January 7, 2008 on its 7,471 hectare Los Azules Property,Tierra Amarillo District, Region III, Chile. Results being favourable, this program will immediately be expanded to define a resource.


- Six main copper, uranium and gold targets identified to date by Polar Stars continuing geological and radiometric surveys

- Diamond drilling program underway on the 1,100 m long Araya main breccia

- Araya breccia is at the west end of a 1 km wide by 3-4 km long alteration system hosting a number of breccia bodies

- SRK Consulting retained to provide independent supervision and quality controle with a view to preparing NI 43-101 complient reports

Exploration History

There are no records of recent systematic exploration in the property area; however, small scale mining has been carried out since at least the 1930's for oxidised copper ores in the 3% - 5% range. In Chile, the average copper grade of similar breccias using bulk mining techniques is typically in the 0.7 - 1.0% range.

Exploration by Polar Star

Current geological and radiometric surveys by Polar Star's personnel using exploranium GS135 gamma ray spectrometers have outlined the Araya breccia at surface over 1,100 metres by 90 metres and a production adit intersects it at 85 metres vertical depth. These surveys indicated that in fact this breccia is part of a much larger NE trending system of alteration and breccia bodies up to 1km wide and 3-4 km long and have also identified five additional breccia pipes on the property. All the breccias identified contain oxidised copper minerals and are uraniferous.

Diamond Drilling Program

The initial diamond drill program will consist of a series of five fences of three holes each spaced about 200 metres apart along the long axis of the Araya breccia. This program is designed to investigate the three dimentional shape and copper-uranium-gold grade distribution within the upper oxidised section of the breccia. Results being favourable, this program will immediately be expanded to define a resource.


The Los Azules property, located 800 kilometers north of Santiago, covers the historic Los Azules high grade oxide copper-gold mining district and is readily accessible by paved and good gravel road from the city of Copiapo sixty kilometers to the west.

Property Geology

The property is underlain by a generally sub-horizontal sequence of late Cretaceous - Paleocene sub-areal epiclastic sediments and interbedded andesitic flows, which are cut by numerous post-magmatic hydrothermal collapse breccia pipes. The individual pipes, which are generally elliptical in plan, have long axis ranging from 5 metres to 1,100 metres. About 100 breccia pipes have previously been recognized in the Los Azules District.


The hydrothermal mineralization of the pipes may be divided into an early fragment replacement stage, followed by open-space filling. The filling stage consists of tourmaline, accompanied by specularite and followed principally by quartz, chalcopyrite, pyrite (+/- gold), molybdenite, and galena. All the Azules pipes appear to contain uranium however, no uranium minerals have been identified to-date. A zone of surface oxidation up to 100 metres deep has produced a blanket of readily leachable green secondary copper minerals, including atacamite, chrysocola, brocanthite, copper wad and copper pitch.

NI 43-101 Report

Polar Star has retained the services of SRK Consulting's Santiago office (see 27 November 2007 press release) to prepare a National Instrument 43-101 compliant report on the Los Azules breccia pipes project.

Qualified Person

The drill program will be carried out under the direction of Mr. Terence Walker, M.Sc., P.Geo., qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release.

About Polar Star Mining Corporation

Polar Star Mining Corporation was created to acquire advanced stage exploration properties focusing on gold, copper-gold and uranium. The geographic focus of Polar Star is Chile, where the company has approximately 118,000 hectares covering 19 properties. These 100% owned properties are in addition to the optioned Sonia-Puma properties where Polar Star can earn up to a 60% interest. In Canada, the Company has a option agreement with respect to the Todd Creek Property located near Stewart, BC, which consists of 12,222 hectares in which Polar Star can earn up to a 60% interest. Polar Star has approximately $4 million in cash and no debt.

Forward-Looking Statements

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors, 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:

Basic shares outstanding: 29.7 million

Fully Diluted: 36.1 million

(Shares under escrow: 9.7 million)

The Toronto Stock Exchange Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and the information contained herein.

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