Polar Resources Corporation, Vancouver, BC (the”Company”) is a reporting company in the Province of British Columbia and its common shares are listed on the NEX board of the TSX Venture Exchange, under the trading symbol “PLR”.

The Company is in the business of exploring for and developing natural esource properties in North America. The Company’s corporate strategy is to generate profitable rowth through a strategic combination of acquisitions, joint ventures and drilling opportunities.

During the quarter ended November 30, 2008 the Company concentrated its efforts on the

investigation of future business opportunities including the potential acquisition of natural resource roperties.

Share Capital

The authorized capital of the Company is an unlimited number of common shares of which at

November 30, 2008, 18,064,366 common shares were issued and outstanding. Pursuant to the

Company’s Stock Option Plan, the Company can issue up to 10% of its issued and outstanding

common shares as options to purchase common shares. Currently 775,000 options remain

exercisable at $0.10 per share.

As at the date of this discussion there is no share purchase warrants outstanding.

There are 15,625 escrow shares.

Subsequent Events

Subsequent to November 30, 2008, shareholders of the Company approved a consolidation of the Company’s common shares on the basis of one

(1) post-consolidated share for every five (5) preconsolidated shares, or such lesser whole number of pre-consolidated shares as the directors of the Company may determine.

The Company does not anticipate a name change in connection with the Consolidation

Polar Resources 1:5 rollback, symbol change

2009-01-30 17:31 ET - Symbol Change

Also Rollback (C-PLR) Polar Resources Corp (1)

Pursuant to a special resolution passed by shareholders Nov. 28, 2008, the company has consolidated its capital on a one-new-for-five-old basis. The name of the company has not been changed.

Effective at the opening, Monday, Feb. 2, 2009, shares of Polar Resources Corp. will commence trading on the TSX Venture Exchange on a consolidated basis. The company is classified as a mining company.

Postconsolidation capitalization: Unlimited shares with no par value, of which 3,609,750 shares are issued and outstanding

Escrow: Nil shares are subject to escrow

Transfer agent: Computershare Investor Services Inc.

Trading symbol: RSN.H (new)

Cusip No.: 731021 20 0 (new)