These initial thirty diamond drill holes complete a series of eleven fences of two-three holes drilled along approximately 280 meters of strike of the Chepica No1 Vein system. The first ten fences were spaced at about 25 meters apart and fence number eleven was spaced 50 meters south of fence number 10. The holes within a fence test the Chepica No1 Vein system at 25 meter intervals from 25 meters to 100 meters below the main adit level, assays from which were previously reported (see July 8, 2008 press release). This program was designed to confirm and extend a copper-gold resource reported by ENAMI (Empresa Nacional de Mineria, Chile) in 2005 to exist below this adit. Individual samples within the vein system intersected were selected based on vein characteristics. The intercept values reported in the table are therefore weighted averages.

All but three of these drill holes cut, what management believes, are good grades of gold and copper over potentially mineable widths, the details of which can be found in the attached table. This drilling also demonstrates that the Chepica No1 Vein system has good continuity and contains at least 3 strong on-echelon veins, nominally denoted as hanging wall, central and footwall veins in the attached table. Their widths typically range from 2 meters to over 12 meters, however, in holes 12, 17, 23, 25, 26 and 35 two or more veins merge to form composite veins over 20 meters wide. The Chepica No1 Vein system is open to extension along strike to the south and to depth.

The Company continues to drill fences across the Chepica No2 Vein system with the same objectives as the first phase drilling recently completed on the Chepica No1 Vein system i.e. confirm and extend a copper-gold resource reported by ENAMI (Empresa Nacional de Mineria, Chile) in 2005 to exist above and below the Chepica 2 adit.

Polar Star currently owns a 15% equity interest in the Chepica Mine and has the right to acquire the remaining 85% of the Chepica Mine by making cash payments totalling 2.7 billion Chilean Pesos (approximately US$ 4.4 million) by June 20, 2009, pending successful completion of its final due diligence review.

This Chepica Mine acquisition adjoins Polar Star's wholly owned Corinto and Batuco claims. These claims plus the Chepica Mine property total 16,640 hectares in the Pencahue District, Region VII, Chile on which prior exploration by other companies has defined 15 gold and copper-gold zones. The Chepica Mine is currently being commissioned to achieve a planned initial production of 200 tonnes per day increasing to over 500 tonnes per day by mid 2009. The Chepica Mine will produce a copper-gold concentrate.

The Chepica Mine property, located 225 kilometres south of Santiago, near the city of Talca, covers the Cerro Chepica copper-gold mining district and is readily accessible by paved and good gravel road from the city of Talca 20 kilometres to the east. See Polar Star's news release of April 24, 2008 for additional information.

Polar Star has retained the services of SRK Consulting's Santiago to prepare a National Instrument 43-101 compliant report on the Chepica No1 Vein system property, which is expected to be delivered within the next 3 months.

Mr. Terence Walker, M.Sc., P.Geo., is the qualified person within the meaning of National Instrument 43-101. Mr. Walker has reviewed the contents of this news release. Individual core samples where halved using a diamond core saw, one half bagged and sealed on site for assay the other half retained on site in sealed metallic core boxes for future reference. All analyses were carried out at ALS Patagonia Laboratories, Coquimbo, Chile. Routine gold analysis was carried out on 30g sub-samples using a fire assay pre-concentration and atomic absorption spectro-photogrametric (AAS) finish. Samples with values greater than 10g/t were re-analysed by fire assay and gravimetric finish. Silver and copper were also routinely analysed by ICP following hot four acid digestion. Samples with copper values over 1% were re-analysed using a hydrofluoric-nitric-hypochloric acid digestion, hydrochloric acid leach and AAS finish.

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper-gold, and uranium. The Corporation's material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares. Polar Star announced the closing of a $5 million private placement on July 8, 2008 during which HudBay Minerals Inc. acquired 3,860,605 Units (approximately 9.8% of the now outstanding shares of the Company).

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 http://www.sedar.com/ or the Company's website at http://www.polarstarmining.com/.

Shares Outstanding: 39,241,098 as at October 20, 2008.

Polar Star was selected and featured on Business Television in early March 2008. If you missed the show, please click on the link below to watch the full-feature http://www.b-tv.com/i/videos/PolarStar.wmv