Polar Star Mining Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net loss of CAD 598,944 or CAD 0.01 per basic and diluted share compared to CAD 476,228 or CAD 0.01 per basic and diluted share for the same period a year ago. Cash used in operating activities was CAD 660,362 compared to cash generated from operating activities of CAD 524,863 reported in the same period a year ago. For the quarter, the company reported net loss of CAD 3,905,011 or CAD 0.07 per basic and diluted share compared to CAD 1,404,911 or CAD 0.04 per basic and diluted share for the same period a year ago. Cash used in operating activities was CAD 3,905,676 against CAD 1,043,660 reported in the same period a year ago. Expenditure on purchase of equipment, net was CAD 90 against CAD 22,598 reported last year.

Polar Star Mining Corporation announced an exploration update on its 100% owned Talca Gold District Properties which are believed by the company to have potential to host epithermal gold, silver and base-metal deposits. Ongoing reconnaissance and detailed geological mapping, rock and soil sampling by Polar Star staff have to date outlined five targets areas of multiple auriferous veins at surface. Cover 21,200 hectares, and are located 100 kilometres south of Yamana's La Florida Mine in the southern Chilean Coastal Gold Belt. Prior exploration in the claim area during the early 1990's including trenching and diamond drilling outlined four open ended auriferous vein and stockwork zones. Five new 1-2 km sq. areas of multiple auriferous veins outlined by Polar Star personnel. Individual veins within these areas range from 0.5-25m in width and can be traced at surface along strike from 200m-1,000m. Continuous chip samples across individual veins assay from 0.5 g/t gold over 5m width to 3.5 g/t gold over 3.2m width. Infrastructure in place at Chépica to leverage exploration efforts in the district.

Polar Star Mining Corporation announced unaudited earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss of CAD 1,767,248 or CAD 0.03 basic and diluted loss per share compared to CAD 604,693 or CAD 0.02 basic and diluted loss per share for the same period a year ago. Cash used in operating activities was CAD 2,437,571 compared to CAD 1,088,498 for the same period a year ago. For the six months, the company reported net loss of CAD 3,306,067 or CAD 0.06 basic and diluted loss per share compared to CAD 954,598 or CAD 0.03 basic and diluted loss per share for the same period a year ago. Cash used in operating activities for the period was CAD 2,810,147 compared to CAD 1,594,438 for the same period a year ago.