Polar Petroleum Corp. Moves Into Strategic Office Space in Anchorage, Alaska

Polar Petroleum Corp. Moves Into Strategic Office Space in Anchorage, Alaska

ANCHORAGE, Alaska, March 6, 2013 (GLOBE NEWSWIRE) -- Polar Petroleum Corp.
(OTCBB:POLR) (herein after "Polar Petroleum", "Polar" and/or "the Company") is
pleased to announce the Company has officially moved into its new office space
at 4300 B Street, Suite 505, Anchorage, Alaska, 99503.

The Anchorage location gives the Company a strategic physical presence
surrounded by Alaska's oil and gas industry leaders. Included among the
offices within one to two miles are those for Chevron, ConocoPhillips,
Marathon, BP, Shell and oilfield service company Schlumberger.

In addition to ideally positioning the Company for ongoing business
development, Polar's new office location also positions the Company for
convenient travel access to its two North Slope projects.

Daniel Walker, Polar's President & CEO, commented: "It feels good to be right
in the heart of Anchorage's oil and gas sector. Unlike a fledgling company
with a virtual office, we're able to be on the ground and on the job at the
epicenter of Alaska's most important industry. I know the significance of that
will exceed even our expectations."

FOR ADDITIONAL INFORMATION

Read more on Polar Petroleum's official website about the Company and its
latest news releases at http://www.polarpetro.com.

ABOUT POLAR PETROLEUM CORP.

Polar Petroleum (OTCBB:POLR) is an independent American oil and gas company
based in Anchorage, AK. The Company is focused on securing domestic energy
solutions through the exploration, development and production of oil and
natural gas in Alaska's proven North Slope region: home to the 2 largest oil
fields in North America, over 10 other producing fields, and established
infrastructure. The Company's Franklin Bluffs Project overlies the 3 source
rocks thought to represent potential unconventional shale oil on the North
Slope. Test drilling in the vicinity has met expectations for finding oil in
the source rocks.* The Company's Hemi Springs Project is positioned within 1
of 18 Beaufortian accumulations in Alaska that together represent EUR of 5
billion barrels of oil and 12 trillion cubic feet of gas.**

Polar's projects are strategically positioned between many of the major
players of the oil and gas industry and the necessary infrastructure to bring
hydrocarbons to market.

* Petroleum News, Sept. 23, 2012; ** US Geological Survey (USGS): Oil and Gas
Resources of the Arctic Alaska Petroleum Province, 2005.

The Polar Petroleum Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=17267

ON BEHALF OF THE BOARD OF DIRECTORS,

Polar Petroleum Corp.
Daniel Walker, President & CEO

This press release may include certain statements that are forward-looking in
nature and that involve a number of uncertainties and risks. Such
forward-looking statements are within the meaning of that term in Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. The forward-looking statements in this press
release are based on Polar Petroleum Corp.'s current expectations and
projections regarding future events, which are based on currently available
information. The forward-looking statements in this press release may also
include statements relating to Polar Petroleum Corp.'s anticipated new
developments, business prospects, financial performance, strategies and
similar matters. Polar Petroleum Corp. disclaims any obligation to update any
of its forward-looking statements, except as may be required by law.

Cautionary Note to U.S. Investors: The United States Securities and Exchange
Commission permits US companies, in their filings with the SEC, to disclose
only those mineral deposits that a company can economically and legally
extract or produce. We may use certain terms in this press release, such as
"measured," "indicated," and "inferred" "resources," which the SEC guidelines
prohibit US registered companies from including in their filings with the SEC.
US investors are urged to consider closely the disclosure in our Form 10-K
which may be secured from us, or from our website at
http://www.polarpetro.com.

CONTACT: Polar Petroleum Corp.
         4300 B Street
         Suite 505
         Anchorage, AK
         99503
         USA
        
         INVESTOR RELATIONS:
         Toll Free: 1-888-765-2773
         E-mail: ir@polarpetro.com

Polar Petroleum Corp. Logo
 
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