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Polaris Metals Reports Mineral Resources Released Fourth Supplementary Bidder's Statement
Friday November 13, 2009, 7:49 pm

Original Announcement: MIN: Fourth Supplementary Bidders Statement POL

Polaris Metals reported that Mineral Resources has released its Fourth Supplementary Bidder's Statement in relation to the off-market takeover offers to acquire all of the ordinary shares and options in Polaris Metals, stating that on 11 November 2009, MRL gave notice that it had varied the share offer by increasing the consideration so that Polaris Shareholders will now receive 1 MRL share for every 10 Polaris shares they hold plus 5 cents cash for every 1 Polaris share they hold. This means Polaris shareholders will receive 1 MRL share and $0.50 cash for every 10 Polaris shares they hold. The increased offer values your Polaris shares at 74.7 cents per share. MRL also gave notice that the share offer, and any takeover contract arising from acceptance of the share offer, is freed from the remaining defeating conditions as set out in section 1.10(a)(ii)-(v) of Annexure A to the Bidder's Statement (as amended).

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