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PSR Polar Star Mining Corporation

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Share Name Share Symbol Market Type
Polar Star Mining Corporation TSXV:PSR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Polar Star Board Nominees Recommended by Leading Proxy Advisory Firm

07/04/2009 12:30pm

Marketwired Canada


NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES

Polar Star Mining Corporation ("Polar Star" or the "Company") (TSX VENTURE:PSR)
announced today that RiskMetrics Group, a leading North American proxy advisory
firm, has recommended that Polar Star shareholders vote in favour of the
nominees to the Board of Directors proposed by management and reject the slate
nominated by dissident shareholder Douglas Willock at the Company's annual
meeting to be held in Toronto on April 17, 2009.


RiskMetrics Group, through its subsidiary ISS Governance Services, is Canada's
leading provider of corporate governance and proxy voting solutions and provides
proxy research, voting services and corporate governance advisory services to
financial institutions and corporations worldwide.


In making its recommendation to its clients, RiskMetrics said: "The management
nominees are highly experienced, have successful track records and appear better
able to create shareholder value. Therefore support is warranted for the
management nominees." It also noted "No major strategic missteps or significant
abuse of shareholders' rights are apparent in the board's actions. The Board's
strategy appears reasonable and prudent in the circumstances."(i)


"The independent recommendation from RiskMetrics confirms the Board's position
that voting for its nominees is in the best interests of the shareholders," said
Stephen G. Roman, Executive Chair of Polar Star. "It is our view that the Polar
Star Board has the more experienced nominees, a better strategy, and a better
understanding of the potential and challenges of the Company's projects. It is
clear to us that this proxy vote is simply about Douglas Willock seeking control
of Polar Star by installing his hand-picked nominees on the Board for his own
interests and not for shareholder value."


The Polar Star Board urges all shareholders to vote their YELLOW form of proxy
in favour of the Company's nominees to the Board of Directors. Shareholders with
questions or requiring assistance in completing their YELLOW form of proxy are
asked to contact Polar Star's proxy solicitation agent, Laurel Hill Advisory
Services, LLC toll-free at 1-888-812-9185. To be valid, proxies must be received
by 10:00 a.m. (Eastern Time) on April 15, 2009.


(i)Note: Permission to quote from the RiskMetrics report was neither sought nor
obtained.


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.


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