Long Beach Terminal acquisition agreement extended

VANCOUVER, July 31 /PRNewswire-FirstCall/ - Polaris Minerals Corporation (TSX:
PLS) today announced that its subsidiary, Eagle Rock Aggregates Inc., has
extended the agreement to purchase the 12.4 acre Pier B site in the Port of
Long Beach, California. The Company now has until August 4, 2008, to complete
its due diligence review. Upon the conclusion of satisfactory due diligence,
the transaction is expected to close on or about August 18, 2008.
Polaris Minerals Corporation is exclusively focused on the development of
quarries and the production of construction aggregates on Vancouver Island,
British Columbia, for marine transport to urban markets on the west coast of
North America to meet growing local supply deficits. In 2007, Polaris began
shipping sand and gravel from the Orca Quarry to San Francisco Bay, Vancouver,
and Hawaii.

This press release contains "forward-looking statements" and "forward-looking
information" within the meaning of applicable securities laws. These
statements and information appear in this document and include estimates,
forecasts, information and statements as to management's expectations with
respect to, among other things the future financial or operating performance
of the Company, costs and timing of the development of the construction
aggregate quarry, the timing and amount of estimated future production, costs
of production, capital and operating expenditures, requirements for additional
capital, government regulation of quarrying operations, environmental risks,
reclamation expenses, and title disputes. Often, but not always,
forward-looking statements and information can be identified by the use of
words such as "may", "will", "should", "plans", "expects", "intends",
"anticipates", "believes", "budget", and "scheduled" or the negative thereof
or variations thereon or similar terminology. Forward-looking statements and
information are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Readers are cautioned that any such forward-looking statements
and information are not guarantees and there can be no assurance that such
statements and information will prove to be accurate and actual results and
future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed under the heading
"Risks and Uncertainties" in the Company's Annual Report and under the heading
"Risk Factors" in the Company's Annual Information Form (AIF) in respect of
its financial year-ended December 31, 2007, both of which are filed with
Canadian regulators on SEDAR (www.sedar.com). The Company expressly disclaims
any intention or obligation to update or revise any forward-looking statements
and information whether as a result of new information, future events or
otherwise. All written and oral forward-looking statements and information
attributable to us or persons acting on our behalf are expressly qualified in
their entirety by the foregoing cautionary statements.

SOURCE Polaris Minerals Corporation

please contact: Marco Romero, President & CEO or Mike Westerlund, Director,
Corporate Development, Polaris Minerals Corporation, Tel: (604) 915-5000,
info@polarmin.com