Polaris Starts Production at the Orca Quarry
February 20, 2007
VANCOUVER, British Columbia – Polaris Minerals Corporation (TSX:PLS) today announced that production has commenced at the Orca Sand & Gravel Quarry, near Port McNeill, British Columbia.
Commissioning trials at the Orca Quarry have now demonstrated that the process plant supplied by Metso Minerals Canada Inc. has met the design performance criteria and consequently production has commenced to build product inventories. Customary fine tuning of the operation will be ongoing. Construction of the ship-loader is now virtually completed, in anticipation of the arrival of the first Panamax vessel, which is expected to transport Orca products to US markets, before the end of March 2007.
Herb Wilson, Polaris’ Senior Vice President and Chief Operating Officer, said: “We have built, within budget and in only ten months, one of the largest and most modern sand and gravel plants in Canada, and the plant commissioning phase has now been substantially completed. This achievement is a credit to our suppliers, contractors and the team at Orca Quarry and is particularly remarkable considering the abnormally severe weather conditions experienced on the west coast during the past several months.”
Construction is also advancing well at the Richmond Terminal in California, where the complex foundation work has been completed.
To view recent images of the Orca Quarry, please visit the photo gallery on Polaris’ website at http://www.polarmin.com/orcasand/photogallery.php.
Polaris Minerals Corporation 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 west coast of North America to meet growing local supply deficits.
For further information, please contact:
Marco Romero, President and CEO or
Mike Westerlund, Director, Corporate Development
Polaris Minerals Corporation
Tel: (604) 915-5000
Web site: www.polarmin.com
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 forwardlooking 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, 2005, 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.