POLAR STAR CORPORATE UPDATE

TORONTO, Oct. 8, 2010 /CNW/ -- /NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

TSX-V: PSR

TORONTO, Oct. 8, 2010 /CNW/ - Polar Star Mining Corporation (TSXV: PSR) ("Polar Star" or the "Company"), at the request of the Investment Industry Regulatory Organization of Canada ("IIROC"), announces that it has released all material information in its possession. The Company continues to drill at its Montezuma project with three diamond drill rigs and will release material results as they become available. Hole 38, mentioned in the Company's Press Release of September 14, 2010, was terminated at 1,087.7 metres, the maximum capacity of the drill. The hole ended in disseminated and veinlet pyrite-chalcopyrite mineralization in porphyry style alteration. Assays are pending.
The company is currently drilling two step out holes, 200 metres west (Hole 42) and 400 metres east (Hole 43) of Hole 38 which are designed to further test the large IP anomaly thought to reflect the mineralization cut in Hole 38. Both of them have now encountered the same style of pyrite-chalcopyrite mineralization starting at approximately 390 metres and 310 metres, respectively. Hole 43 also cut a near surface zone of exotic copper minerals, mainly copper wad and cupriferous limonite from 7 - 54 metres depth.

Qualified Person

The drill program is being carried out under the direction of Terence Walker, M.Sc., P.Geo., a qualified person within the meaning of National Instrument 43-101.  Mr. Walker has reviewed the contents of this news release.

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.

About Polar Star Mining Corporation

Polar Star Mining Corporation (TSXV: PSR) is an emerging exploration company with a focus on building value in Chile through discovery and development.

Share Capitalization:

Shares outstanding: 90,160,435 as at October 8, 2010

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.



David Speck, Vice President, Polar Star Mining Corporation, Telephone: [phone], Email: [e-mail]

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