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Polaris Metals Announces MRL Improves POL Offer, Makes Offers Unconditional
Wednesday November 11, 2009, 8:28 am

Original Announcement: POL: MRL improves POL Offer and makes Offers unconditional

Polaris Metals announced that the Board of Mineral Resources (MRL) will increase the consideration under its Share Offer for all of the shares in the company by increasing the ratio of MRL Shares offered, and will now be offering one MRL Share for every 10 Polaris Shares AND 5 cents cash for every one Polaris Share. The increased Share Offer consideration now values each Polaris Share at $0.747 cents/share. MRL will also free the Share Offer and Option Offer from the remaining defeating conditions as set out in the Bidder's Statement and as a result, the Share Offer and Option Offer will become unconditional. This increased Share Offer represents a premium of 149% to the 30 cents closing price of Polaris Shares on 14 August 2009.

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