TORONTO, ONTARIO--(Marketwire - Feb. 17, 2009) - Polar Star Mining Corporation ("Polar Star" or the "Company")(TSX VENTURE: PSR.V) announced today that it will hold its annual and special meeting of shareholders on April 17, 2009. The time and location of the meeting will be announced in due course. The record date for voting at the meeting has been established as the close of business on March 13, 2009.

The special meeting has been called, and the date set consistent with the Canada Business Corporations Act, by the Company's Board of Directors which unanimously approved the recommendation of its special committee of independent directors, formed on January 29, 2009.

The meeting is being held as a result of a requisition from dissident shareholder Douglas Willock who served under contract as the Company's President and CEO and remains a Director of the Company. Mr. Willock has stated he is seeking to remove the current Board of Directors of Polar Star and replace them with his own nominees.

Polar Star will issue a management information circular and provide a form of proxy for all shareholders in advance of the meeting. The circular is expected to be mailed by March 26, 2009 and to include a recommendation to shareholders from the Board of Directors.

"Polar Star shareholders may question whose interests have been served by Mr. Willock's actions in requisitioning the meeting and in the subsequent days," said Stephen G. Roman, Executive Chairman of Polar Star. "The Board expects to provide its recommendations in relation to the nominees selected by Mr. Willock once their identity is disclosed."

About Polar Star Mining Corporation

Polar Star was created to acquire advanced stage exploration properties focusing on gold, copper, and uranium. The Corporation's material assets include 20 projects in Chile, which are 100% owned and cover approximately 146,112 hectares.

Forward-Looking Statements

This press release contains 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.

Share Capitalization:

Shares Outstanding: 39,241,098 as at February 5, 2009.

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.

Contacts

Polar Star Mining Corporation
Investors:
Stephen G. Roman, Executive Chairman
(416) 368-3496
Email: info@polarstarmining.com
Website: www.polarstarmining.com

Lute & Company
Media:
John Lute
(416) 929-5883
Email: jlute@luteco.com