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Article: Polar Star Mining Corporation Terminates Sonia-Puma Option
- Article from:
- CCNMatthews Newswire
- Article date:
- March 25, 2008
CopyrightCopyright 2008 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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TORONTO, ONTARIO--(Marketwire - March 25, 2008) - Polar Star
Mining Corporation ("Polar Star" or the "Company") (TSX
VENTURE:POS)(PINK SHEETS:POSRF) announces, effective March 19, 2008,
it has elected to terminate the option agreement on the Sonia and
Puma properties in Chile. Polar Star had the right to acquire up to
60% of Goldeye Explorations Limited's interest in the properties. In
consideration for the termination of the joint venture, Polar Star
has received a cash payment of $75,000 from Goldeye.
Polar Star will record a write-down of approximately $185,000 in
the fourth quarter of 2007 to reflect termination of the agreement.