cnw






/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES/


VANCOUVER, June 27, 2014 /CNW/ - Polaris Minerals Corporation ("Polaris" or the "Company") (TSX:PLS) is pleased to announce that the bought deal financing announced on June 9, 2014 has
closed. The offering was underwritten by a syndicate of underwriters
led by Dundee Securities Ltd. and including GMP Securities L.P. and
Paradigm Capital Inc. (together, the "Underwriters"). Concurrent with
closing, the Underwriters exercised their over-allotment option in full
such that an aggregate 6,785,000 common shares (the "Common Shares")
were issued at $2.57 per Common Share for gross proceeds to the Company
of $17.4 million. The Common Shares were issued by way of a final short
form prospectus filed in all of the provinces of Canada, except Quebec,
pursuant to National Instrument 44-101 - Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to
exemptions from the registration requirements of the United States Securities Act of 1933, as amended.


Net proceeds, after the deduction of the Underwriters' commission and
other fees and expenses, were $16.5 million. The proceeds will be used
to evaluate a potential limestone resource development and additional
port terminal opportunities, and for working capital purposes.


This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale would
be unlawful. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended, or any
state securities laws and may not be offered or sold in the United
States unless registered or an applicable exemption from the
registration requirements is available.




Polaris is exclusively focused on the development of quarries and the production
of construction aggregates in British Columbia for marine transport to
urban markets on the Pacific coasts 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.


Cautionary Note Regarding Forward-Looking Statements




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 intended use of net proceeds from the offering, the future
financial or operating performance of the Company, the timing, volume
and pricing growth of construction aggregates, 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 Short Form
Prospectus dated June 20, 2014, which is filed with Canadian regulators
on SEDAR 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




For further information:

Herb Wilson, President and CEO Polaris Minerals Corporation Tel: (604) 915-5000 info@polarmin.com