Polar Star Mining Corporation
TSX VENTURE : PSR

Polar Star Mining Corporation

April 27, 2009 15:51 ET

Polar Star Announces Granting of Stock Options

TORONTO, ONTARIO--(Marketwire - April 27, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Polar Star Mining Corporation ("Polar Star" or the "Company") (TSX VENTURE:PSR) announces that it has granted options to purchase up to an aggregate of 2,800,000 common shares of the Company to its directors and certain officers. The options are exercisable at the price of $0.50 per share and will expire on April 17, 2014. Under the current stock option plan, the Company may issue 804,109 of the options granted. The remainder of the granted options will be issued subject to shareholder and regulatory acceptance of an amended stock option plan, which will have the capacity required to issue the additional options. Any options granted under an amended stock option plan will not be exercisable until shareholder and regulatory acceptance of the amended stock option plan is obtained.

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 hectares.

Forward-Looking Statements

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 www.polarstarmining.com.

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.

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