PSR Polar Star Mining Corporation

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


Polar Star Mining Corporation (TSX:PSR) ("Polar Star" or the "Company"), a
Toronto-based company focused on gold and copper exploration with operations in
Chile, announced that it has completed the sale of its Chepica gold and copper
mine located 300km south of Santiago Chile to Xtract Resources Plc (Xtract), an
AIM listed company, under the terms of a Sale and Purchase Agreement entered
into December 12, 2013. 


Under the agreement, Xtract acquired 100% of the shares of a Barbados subsidiary
of the Company. This Barbados subsidiary owns 100% of a Chilean entity that
holds an option agreement to acquire 100% of the Chepica gold and copper mine as
well as the adjoining Talca exploration licenses and the Mejillones Phosphate
Property which was previously included in a separate joint venture agreement,
entered into between the Company and Xtract in July 2013. 


Consideration for the transaction includes 500,000,000 Xtract common shares
valued at GBP 1,250,000. In addition, Xtract assumed approximately USD$1.25
million of liabilities associated with the Chilean entity. 


Colin Bird, Director and Chief Executive Officer of Polar Star is also Executive
Chairman of Xtract. Mr. Bird has an insignificant interest in the issued share
capital of Polar Star and Xtract and recused himself from any involvement in the
transaction. 


About Polar Star Mining Corporation

Polar Star Mining Corporation ("PSR") is a TSX listed exploration and
development company with a focus on building shareholder value in Chile. The
Company's strategy is to conduct exploration programs and advance its large
portfolio of world class projects in Chile through joint venture arrangements
whereby the Company provides the land while joint venture partners contribute
funding and management expertise in exploration and development. 


For more information about Polar Star Mining Corporation, please visit:
www.polarstarmining.com


FOR FURTHER INFORMATION PLEASE CONTACT: 
Charlie Cannon-Brookes
Director
Polar Star Mining Corporation
cbrookes@agam.co.uk
+44 207 389 5017
www.polarstarmining.com

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