The Montezuma Project consists of three groups of exploration concessions

Tag : chalcopyrite 
Montezuma
- Old workings, geological and geochemical surveys define a highlyprospective belt 2-5 km wide by 30 km long centred on the WestFissure Fault System.
- A large I.P. Chargeability/Resistivity anomaly 1 to 1.6kilometres wide, 12 kilometres long, extending to depths of atleast 300 to 350 metres has been identified by the ongoinggeophysical survey within this belt, along with several otherChargeability/Resistivity anomalies (see attached Montezuma Projectmap).
- Property consists of 43,200 hectares, and is located 30 km duesouth of Codelco's Chuquicamata Mine and Smelter Complex.
- Covers 25 km of the West Fissure Fault System and associatedsplays, which hosts many large porphyry copper deposits includingChuquicamata (see attached Codelco North Division map) andEscondida.
Chepica Mine
- 28 diamond drill holes completed to date on the Chepica No.1 Veinsystem covering 270 metres of strike and to 150 metres depth (seeattached Chepica No.1 Vein map). Drill results are expected to bereleased during the fourth quarter. Drilling on Chepica No.2 veinsystem has commenced.
- The system demonstrates good continuity and contains at least 3strong veins with widths from 3 metres to over 20 metres.
- A mill has been installed on site and commissioning has commencedto produce a copper - gold concentrate.
The Montezuma Project
The Montezuma Project consists of a contiguous group of 100% ownedexploration concessions staked by Polar Star. As noted above, theWest Fissure Fault System is well known for the exceptional size ofits deposits. The Chilean Mine Handbook reported that in 2007 theBHP/RTZ owned Escondida Mine produced 1.5 million tonnes of copperand had copper reserves of 4.3 billion tonnes at an average gradeof 0.81% Cu. The Corporacion Nacional del Cobre's ("Codelco") ElNorte Division, which includes Chuquicamata, reported production of0.9 million tonnes of copper, reserves of 2.3 billion tonnes and anaverage grade of 0.79% Cu during the same period.
The Montezuma Project is located in the Sierra Limon Verde oxidecopper mining district and is readily accessible by paved and goodgravel road from the city of Calama, 20 kilometers to the north.The project consists of three groups of exploration concessions;Montezuma, Topater and Limonal totaling 43,200 hectares staked andowned 100% by Polar Star.
The Property lies within the central sub-zone of the main Chileanporphyry belt and covers approximately 25 km of strike of the WestFissure Fault System and associated sub-parallel and NW-SEcross-cutting ancillary faults. The hills of Sierra Limon Verdewhich cover the Limonal, north and west half of the Montezumaclaims generally expose the same group of metamorphosed Paleozoicintrusive, volcanic and sedimentary rocks that host theChuquicamata porphyry copper deposits. The rest of the Montezumaclaims and most of the adjacent Topater claims are covered bypediment gravels derived from the local hills.
Polar's geological and geochemical surveys to date have identifiedseveral large areas of leached, hematite stained and sulphate richcaps containing minor amounts of copper wad and chrysocoladeveloped along and lateral to the West Fissure Fault System whereit strikes through the northern claims of the Montezuma group andwithin the Topater group, quartz-tourmaline-copper-gold veins andstockworks of the type commonly found peripheral to porphyrysystems.
There are no public records of mining or exploration activity inthe property area. There are however three groups of old drillholes of unknown origin in the central and southern part of theMontezuma property along the projection of the West Fissure FaultSystem. Cuttings from a number of these holes show propylitic tophyllic alteration assemblages containing disseminated and veinletpyrite plus minor chalcopyrite and bornite.
On-going Induced Polarisation-Resistivity surveys along a belt some6-7 kms wide covering the trace of the West Fissure Fault Systemand adjacent N-NNE trending splays and cross faults have detectedseveral anomalies. The main anomaly, which is entirely coveredeither by a sulphate cap or pediment gravels is 1.2 - 1.6kilometres wide, to date is over 12 kilometres long and extends todepths of 300-350 metres. It straddles the West Fault to the southbut to the north follows two sub-parallel cross faults which trendNNE towards the copper bearing veins and stockworks.
The Chepica Mine
Polar Star currently owns a 10% equity interest in the Chepica Mineand will purchase a further 5% for 150 million Chilean Pesos(approximately US$282,000) on or about September 26, 2008. PolarStar has the right to acquire the remaining 85% of the Chepica Mineby making cash payments totalling 2.7 billion Chilean Pesos(approximately US$ 5.1 million) by June 20, 2009, pendingsuccessful completion of its final due diligence review.
This Chepica Mine acquisition adjoins Polar Star's wholly ownedCorinto and Batuco claims. These claims plus the Chepica Mineproperty total 16,640 hectares in the Pencahue District, RegionVII, Chile on which prior exploration by other companies hasdefined 15 high grade gold and copper-gold zones (see attachedTalca Property map). The Chepica Mine is currently beingcommissioned to achieve a planned initial production of 200 tonnesper day increasing to over 500 tonnes per day by mid 2009. The Minewill produce a copper-gold concentrate.
The Chepica Mine property, located 225 kilometres south ofSantiago, near the city of Talca, covers the Cerro Chepica highgrade copper-gold mining district. It is readily accessible bypaved and good gravel road from the city of Talca 20 kilometres tothe east. See Polar Star's news release of April 24, 2008 foradditional information.
Qualified Person
Mr. Terence Walker, M.Sc., P.Geo., is the qualified person withinthe meaning of National Instrument 43-101. Mr. Walker has reviewedthe contents of this news release.
About Polar Star
Polar Star was created to acquire advanced stage explorationproperties focusing on gold, copper gold, and uranium. TheCorporation's material assets include 20 projects in Chile, whichare 100% owned and cover approximately 146,112 hectares. HudBayMinerals Inc. owns 3,860,605 shares of Polar Star (approximately9.9% of the outstanding shares of the Company, as at July 8, 2008).
Forward-Looking Statements
The statements made in this news release may containforward-looking statements that may involve a number of risks anduncertainties. Actual events or results could differ materiallyfrom the Company's expectations and projections. Accordingly,readers should not place undue reliance on forward-lookingstatements. For a more detailed discussion of such risks and otherfactors, refer to Polar Star Mining Corporation's filings withCanadian 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 September 24, 2008.
Business Television Feature:
Polar Star was selected and featured on Business Television inearly March 2008. If you missed the show, please click on the linkbelow to watch the full-feature
http://www.b-tv.com/i/videos/PolarStar.wmv .
To view the Montezuma Project map, please visit the following link: http://media3.marketwire.com/docs/montezuma.pdf
To view the Codelco North Division map, please visit the followinglink: http://media3.marketwire.com/docs/Codelco.pdf
To view the Chepica No.1 Vein map, please visit the following link: http://media3.marketwire.com/docs/Chepica.pdf
To view the Talca Property map, please visit the following link: http://media3.marketwire.com/docs/Talca.pdf


The Toronto Stock Exchange Venture has not reviewed and does notaccept responsibility for the adequacy or accuracy of this releaseand the information contained herein.
Contacts:
Polar Star Mining Corporation
Douglas Willock
President and CEO
(416) 368-3496
Email: info@polarstarmining.com
Website: www.polarstarmining.com