Polar Star Mining Corporation

Polar Star Mining Corporation

February 27, 2008 15:56 ET

Polar Star Options Yoanca Property in Chile

TORONTO, ONTARIO--(Marketwire - Feb. 27, 2008) - Polar Star Mining Corporation (TSX VENTURE:POS)(PINK SHEETS:POSRF) ("Polar Star" or the "Company") is pleased to announce the signing of an option to purchase 100% of the Yoanca porphyry copper property located along the West Fault 60 kilometres north of the Chuquicamata Mine. The West Fault is the principle focus of the majority of mega porphyries in Northern Chile. Under the current option agreement Polar can purchase 100% of the property for staged payments totalling US$ 400,000 over a 12 month period.


- The property covers a classic leached cap zone developed within the West Fault,

- West Fault is actually exposed in the three open cuts currently being mined by local piquineros for copper sulfosalts grading 3-5% copper,

- 3,000 metre drilling program planned to confirm the porphyry model and test for a secondary enrichment zone.

Exploration History

There are no records of recent systematic exploration in the property area; however, small scale surface mining is currently being carried out at the rate of 1,000 - 1,500 tonnes per month from oxidized ores grading from 3% - 5% copper.


The Yoanca property is approximately 30 hectares in area and is located 1,450 kilometers north of Santiago in the Cerro Blanco oxide copper mining district and is readily accessible by paved and good gravel road from the city of Calama 75 kilometers to the south.

Property Geology

The property lies within the central sub-zone of the main Chilean Andean porphyry belt and covers a classic leached cap zone developed within the West Fault, host of many Chilean mega porphyry copper deposits including Chuquicamata. The West Fault is actually exposed in the three small open cuts currently being mined by local piquineros for copper sulfosalts. This northerly trending fault separates Cretaceous volcanics and intrusives to the west from Paleozoic meta-intrusives to the east as at Chuquicamata.


The walls of the piquinero pits expose a typical suite of high level copper sulfosalts including; chrysocola, copper wad, copper pitch and brochanthite in veinlets, disseminations, patches and fracture coatings in strongly faulted and sheared host rock. Intense destructive leaching and clay-sericite alteration generally obliterate the host textures but locally relic phorphyritic textures, possibly intrusive and quartz veinlets are present.

Drilling Program

The initial drill program consists of a series of three fences of two-three, 300-500 metre holes spaced about 200 metres apart along the long axis of the West Fault. Drilling is expected to commence in April. This program is designed to confirm the porphyry alteration-mineralization model suggested at surface and test for the development of a secondary enrichment zone. Results being favourable this program will immediately be expanded to define a resource.

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 which are 100% owned. In Canada, the Company has an 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:

Shares Outstanding: 29,851,964 as at February 15, 2008

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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