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Polaris Metals Recommends Improved Mineral Resources Offer
Tuesday November 24, 2009, 7:20 pm

Original Announcement: Polaris Recommends Improved Mineral Resources Offer

Polaris Metals noted the announcements by Mineral Resources and Lion-Asia Resources on 23 November 2009 of proposed increases in their respective offers for Polaris. Under the further Improved Mineral Resources Share Offer, Polaris shareholders will receive one Mineral Resources share and $1.00 cash for every 10 Polaris shares. Under the further proposed Improved Lion-Asia Offer, subject to certain conditions, Polaris shareholders would receive $0.74 cash per share. Accordingly the Board affirms its prior recommendation that shareholders reject the proposed Improved Lion-Asia Offer and accept the Improved Mineral Resources Share Offer, in the absence of a superior proposal.

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