Polaris Minerals Corporation Signs Long Term Shipping Contract With CSL International Inc.
July 15, 2005
Polaris Minerals Corporation (Polaris) announced today that the company has entered into a 10-year Contract of Affreightment with CSL International Inc. (CSL), for the marine transportation of construction aggregate from its Orca sand and gravel resource situated near Port McNeill, Vancouver Island, B.C. to various destinations in California, USA commencing in 2007.
Commenting on the contract, Marco Romero, President & CEO, Polaris, said: "The continuing closures of traditional quarries in the major coastal cities of Northern and Southern California, coupled with increasing construction and building activity, is creating serious shortages of basic materials vital to the California construction industry". He added: "This 10-year agreement with CSL secures a vital component in our strategy to commence processing and marine distribution of high quality sand and gravel products from the Orca resource, enabling us to respond to the increasing needs of customers in California".
Captain David King, Vice President, CSL West Coast Operations, commented: "CSL is pleased to have entered into a Contract of Affreightment with Polaris and to be part of this exciting opportunity, which will benefit local communities on Vancouver Island and satisfy a vitally important need in California".
Polaris Minerals Corporation, a privately owned Canadian company headquartered in Vancouver, B.C., together with its First Nation Partners, is developing construction aggregate resources on Vancouver Island, for bulk, marine transportation to major cities situated on the western seaboard of North America.
For further information, please contact:
Marco Romero, President & C.E.O.
Polaris Minerals Corporation
Tel: (604) 915 5000, Ext.101