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Polar Star Mining Assigns Rights in Todd Creek Property

Posted on: Wednesday, 9 April 2008, 18:00 CDT

Polar Star Mining Corporation ("Polar Star" or the "Company") (TSX VENTURE: POS)(PINK SHEETS: POSRF) announces an Agreement effective April 3, 2008, granting to Intuitive Exploration Inc. ("NTX") an exclusive right and option to earn up to a 70% ownership interest in the Todd Creek Property (the "Property") located near Stewart in Northwestern British Columbia. The Agreement is between Polar Star and Goldeye Explorations Limited (the "Optionees"), NTX and Geofine Exploration Consultants Ltd. ("Geofine").

NTX may acquire the following ownership interests in the Property by incurring the exploration expenditures by the dates shown in the table:

 Due October 31,         Exploration Expenditures ------------------------------------------------ 2008                                 $ 2,000,000 2009                                 $ 1,500,000 2010                                 $ 1,500,000 

Upon incurring exploration expenditures of $2,500,000, NTX will acquire a 51% interest in the property, with the Optionees retaining a 49% interest. By incurring further expenditures of $1,500,000 and $1,000,000, NTX will earn cumulative interests of 60% and 70% respectively (the corresponding interests of the Optionees will be 40% and 30%). In addition, NTX agreed to make cash payments up to an aggregate of $180,000 and to deliver up to 170,000 shares of NTX to Geofine.

The parties also acknowledged that the expenditure requirement of $1.5 million made under the original agreement between Geofine and Goldeye dated December 6, 2005 has been fulfilled. The Optionees and NTX retain reciprocal rights of first offer if either party wishes to sell, assign or transfer any of its interest in the Agreement to a third party.

Douglas Willock, President and CEO of Polar Star, stated that the transaction allows the Company to concentrate its efforts on its growing portfolio of mineral interests in Chile.

About Polar Star

Polar Star Mining Corporation was created to acquire advanced stage exploration properties focusing on gold, copper-gold and uranium. The Corporation's material assets continue to include the 17 projects in Chile which are 100% owned covering approximately 130,000 hectares.

About Intuitive Exploration

Intuitive Exploration Inc. is a private exploration company recently incorporated in British Columbia.

Forward-Looking Statements

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

Share Capitalization

Shares Outstanding: 29,978,695 as at April 3, 2008

 Contacts: Polar Star Mining Corporation Douglas Willock President and CEO (416) 368-3496 Email: info@polarstarmining.com Website: www.polarstarmining.com

SOURCE: Polar Star Mining Corporation

Source: MARKET WIRE

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