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Polar Star Issues Revised Press Release on Chepica TORONTO, ONTARIO--(Marketwire - April 14, 2009) - At the request of the TSX Venture Exchange Polar Star Mining Corporation ("Polar Star" or the "Company") (TSX VENTURE: PSR.V) announced today that it has issued a revised press release concerning SRK's Independent Technical Report as a result of the previous April 8, 2009 press release incorrectly stating that it had been reviewed by Mr. Terence Walker, the Polar Star qualified person. Mr. Walker has now reviewed the press release and concurs with its contents. This revised release has also been reviewed and approved by Mr. G. Even, head of Geology Services, SRK Chile. The technical information remains the same as the previous press release.
Highlights of the Report are as follows:
- Total Measured and Indicated Resources of the Chepica Number 1 Vein system are 401,000 tonnes grading 2.6 grams/tonne gold, 8.3 grams/tonne silver and 0.48% copper using an uncapped 0.6 g/tonne marginal cut-off gold grade.
- The current Chepica plant has been designed to process up to 120 tonnes/day.
A separate preliminary metallurgical report was received from the University of La Serena Metallurgical Laboratory stating that their test work on 47.2 kilograms of drill core indicates the copper and gold recoveries are in the order of 65%. These metallurgical results have not yet been included in SRK's technical report and they will be studied and compared to actual recoveries from the plant that has recently been put into operation.
The Chepica process plant is currently milling limited amounts of exploration and development rock from the Number 2 Vein.
The final SRK report will be posted on SEDAR subsequent to review and approval of Polar Star management.
Estimation was based on 50 of 66 drill holes corresponding to 5,299 meters of diamond core drilling, together with 19 underground channel samples and 2 trench samples totalling 92.5 meters in length.
The resources were estimated by Ordinary Kriging using block model sizes of 10 by 10 by 10 meters.
Qualified Persons
The Polar Star qualified person within the meaning of National Instrument 43-101 is Mr. Terence Walker, M.Sc., P.Geo. Mr. Walker has reviewed the contents of this news release. The qualified person for SRK within the meaning of National Instrument 43-101 is George Even, MAIG, MAusIMM, SEG., head of Geology Services and Corporate Consultant Geologist with SRK Chile. He has also reviewed the contents of this news release.
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 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.
Contacts
David J. Libby
Polar Star Mining Corporation
President & COO
(416) 368-3496
Email: info@polarstarmining.com
Website: www.polarstarmining.com
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November 09, 2009:
Polar Star provides update on Montezuma Property and Early Exercise of Warrants | October 13, 2009:
Polar Star: Talca Gold District exploration update | September 29, 2009:
Polar Star announces granting of options | May 27, 2009:
Polar Star Mining Announces First Quarter 2009 Results and Provides Development Update | May 21, 2009:
Polar Star Applies for Extension of NI 43-101 Technical Report Filing | April 20, 2009:
Polar Star Mining Corporation Elects New Board and Names New President | April 14, 2009:
Polar Star Issues Revised Press Release on Chepica | April 09, 2009:
Polar Star Cuts Significant Widths of Copper Mineralization in First Phase Drilling at Montezuma | April 07, 2009:
Polar Star Board Nominees Recommended by Leading Proxy Advisory Firm | April 07, 2009:
SRK Consulting (Chile) Releases NI 41-101 Technical Report on Chepica | April 03, 2009:
Polar Star Confirms Intended Composition of the Audit Committee | April 01, 2009:
Polar Star Completes Financing | March 06, 2009:
Polar Star Announces That Dissident Douglas Willock Has Rejected Company Compromise | February 27, 2009:
Polar Star Mining Corporation-Drilling Begins at Montezuma | February 23, 2009:
Polar Star Seeks Court Orders to Protect Shareholders from Dissident Abuse | February 19, 2009:
Polar Star Announces Closing of Financing | February 18, 2009:
Douglas Willock provides update to shareholders of Polar Star | February 17, 2009:
Polar Star Announces Date of Annual and Special Meeting of Shareholders | February 10, 2009:
Polar Star Accelerates Montezuma Drilling Program | February 06, 2009:
Polar Star Mining Corporation - Board to continue its orderly process towards shareholder meeting | January 30, 2009:
Management changes at Polar Star - Adam Rochacewich named Interim President | December 15, 2008:
Chépica Option Extension Terminated | November 27, 2008:
BTV-Business Television Features Polar Star Mining & North American Gem Plus Analyst John Embry | November 19, 2008:
Chepica Project Update | October 22, 2008:
3 Meters of 31.67 g/t Gold Plus 0.78% Copper at Chepica Mine | September 24, 2008:
Montezuma and Chepica Mine Update | August 25, 2008:
Polar Star Completes Non-Brokered Private Placement | August 12, 2008:
Polar Star Acquires Additional 5% Equity Interest in Chepica Mine | August 07, 2008:
Polar Star Appoints David G. Speck Vice-President, Corporate Development | July 16, 2008:
Polar Star Issues 250,000 Options | July 12, 2008:
Polar Star Takes on Chile! says Northern Miner Print Edition & Web TV of July 11 | July 08, 2008:
Polar Star: 3.1 Meters of 13.55 g/t Au, 9.8 g/t Ag and 0.58% Cu at Chepica Mine | July 02, 2008:
Polar Star Mining Corporation-25,000 Metre Diamond Drill Contract | June 12, 2008:
Polar Star Announces $5,000,000 Financing | May 20, 2008:
Polar Star Appoints New CFO | May 13, 2008:
Polar Star - 44 Metres of 0.71% Cu at Los Azules | May 12, 2008:
Polar Star Mining Annual Shareholders Meeting May 13, 2008 | April 10, 2008:
Polar Star Receives $975,000 From Warrants Exercised Early | April 09, 2008:
Polar Star Mining Assigns Rights in Todd Creek Property | March 25, 2008:
Polar Star Mining Corporation Terminates Sonia-Puma Option | February 27, 2008:
Polar Star Options Yoanca Property in Chile | January 15, 2008:
Polar Star Mining Corporation - Los Azules Drilling Program |
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