Polar Star Announces Closing of Private Placement

TORONTO, Oct. 25, 2012 /CNW/ - Polar Star Mining Corporation ("Polar Star" or 
the Company") (TSX: PSR) is pleased to announce the closing of the first 
tranche of the private placement of up to 65,000,000 common shares of the 
Company (the "Private Placement") at a price of $0.10 per common share (the 
"Subscription Price") previously announced on October 5, 2012. The remainder 
of the Private Placement will be completed upon receipt of TSX approval, 
expected within two weeks. 
The Company has issued 54,119,474 common shares at a price of $0.10 per share 
for gross proceeds of $5,411,947.40, and an additional 7,650,000 common shares 
to Praetorian Resources Limited ("Praetorian") in connection with the 
conversion of the previously announced and funded $750,000 promissory note 
plus accrued interest in favor of Praetorian. 
As of today's date, Praetorian owns 15,919,474 common shares, representing 
9.9% of the issued and outstanding shares of the Company. Upon receipt of 
TSX approval, an additional 3,380,526 common shares will be issued to 
Praetorian bringing their total ownership to 19,300,000 common shares which 
will represent 11.7% of the then issued and outstanding common shares of the 
The common shares issued pursuant to this Private Placement are subject to a 
hold period of four months plus one day from the date of closing. 
The proceeds of the Private Placement will be used to support capital 
development at the Company's Chépica mine in Chile and for general corporate 
In connection with the Private Placement, Arlington Group Asset Management 
Limited, broker to the Company, will be paid a cash commission of 2.5% of the 
gross proceeds it delivered and an additional 2.5% commission of the gross 
proceeds it delivered paid via the issuance of common shares at the 
Subscription Price. 
Forward-Looking Statements 
This news 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's filings with Canadian securities regulators available on 
www.sedar.com or the Company's website at www.polarstarmining.com. 
About Polar Star 
Polar Star is an emerging exploration company with a focus on building value 
in Chile through discovery, development and production. The company is 
advancing its flagship exploration property, Montezuma, that covers 40 
kilometres of the West Fault zone and the cross-cutting Esperanza Fault 
systems. The property is located between Codelco's Radomiro Tomic - 
Chuquicamata - Ministro Hales mines in the north and Antofagasta PLC's El 
Tesoro - Esperanza - Polo Sur mines to the south. Polar Star operates the 
Chépica gold/silver/copper mine located 270 kilometres south of Santiago, 
Chile. The head office of Polar Star is located in Toronto. 
Share Capitalization
Shares outstanding: 161,045,475 as at October 25, 2012. 
Contact Information Adam Rochacewich, CFO Tel: (416) 368-3496 
SOURCE: Polar Star Mining Corporation 
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CO: Polar Star Mining Corporation
ST: Ontario
-0- Oct/25/2012 19:41 GMT
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