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Polar Petroleum Corp. Appoints Engineering, Surveying and Logistical Experts to the Company's Advisory Board

ANCHORAGE, Alaska, March 12, 2013 (GLOBE NEWSWIRE) -- Polar Petroleum Corp. (OTCBB:POLR) (herein after "Polar Petroleum", "Polar" and/or "the Company") is pleased to announce the appointment of Mr. Steven Costa as Engineering Advisor, Mr. Peter Brown as Surveying Advisor, and Mr. David Walker as Logistical Advisor to the Company's Advisory Board. The expertise of the advisors will be drawn upon as needed as Polar Petroleum moves forward with its plans for the exploration, development and production of oil and gas on its North Slope assets in Alaska.

Polar Petroleum's President & CEO Daniel Walker commented: "As a startup company, one of our greatest challenges in creating shareholder value is to find ways to keep our costs low while still maximizing the full potential of our properties and the potential of current market opportunities. We can effectively accomplish that goal by having Steven, Peter and David provide us with valuable technical and business strategy support on a part time basis as we carry out our plan of operations in Alaska."

STEVEN COSTA – ENGINEERING ADVISOR

Steven Costa represents professional experience in diesel fitting, manufacturing and engineering sectors in the areas of technical and business operations, as well as in administrative procedures. His vast experience in the mechanical and engineering sectors, particularly with seismic vibrators, will be of substantial benefit to Polar Petroleum.

Steven began his career working for Scania Australia where he built an extensive knowledge of heavy and light vehicles over a period of 10 years. He then leveraged this knowledge to embark on a career in the mining and exploration sector within Australia.

Steven worked as a mechanic and engineer for Australia's leading exploration contractor to the resources sector, Terrex Seismic. While with Terrex, he worked on many projects including for Santos and Beach Petroleum looking for oil and gas; for QGC looking for coal seam gas; and on other mineral projects targeting zinc, gold, coal and geothermal.

Steven's vast industry knowledge led to him maintaining and repairing all the vehicles used in the process of exploration, including the Komatsu D65 dozers, the graders, and, most important, the vibrators.

Since leaving Terrex in 2012, Steven now works for BHP Billiton on their Groote Eylandt project looking to mine Manganese in the Australian Northern Territory.

PETER BROWN – SURVEYING ADVISOR

Peter Brown represents experience with both Private and Public sector clients, taking projects from briefing stage through to design and practical completion to successfully increase the value of the specific built asset.

His current work includes serving as Project Surveyor for market leading Global Built Asset Consultancy EC Harris LLP (ECH). Among ECH's activities are providing project control services for FTCO Group in Saudi Arabia; consulting with major Oil & Gas clients including Shell, ExxonMobil, BP and Saudi Aramco; and providing Shell with program controls, contract advisory and real estate project management services across 26 countries through a Global Enterprise Framework Agreement (EFA).

During his time with ECH, Peter's role has involved projects ranging in size and value while requiring vital technical and analytical skills necessary to ensure the maximum return from an asset across its lifecycle: project cost analysis, financial reporting, contract procurement, contract administration, defect diagnosis, lease interpretation, and statutory regulation interpretation and compliance.

Peter holds a B.Sc. (Hons) and is currently seeking accreditation from the Royal Institute of Charted Surveyors with a view to sitting for the Assessment of Professional Competence in the near future.

DAVID WALKER – LOGISTICAL ADVISOR

David Walker has been involved in the haulage logistics sector for over 35 years. During that time he has gained extensive experience in international and worldwide logistics, and valuable contacts within both the general industry and the Oil and Gas industry in particular.

Currently, David is primarily involved within the oil and gas industry. He draws on his vast knowledge of the logistics sector and his substantial industry network as the logistics coordinator for numerous oil and gas companies, such as Viking Gas, Sirius Minerals and Moorland Energy.

Through his regular dealings in the industry, David has fostered important contacts with leading companies, including Halliburton, Schlumberger, Baker Hughes, Target Directional Drilling and M-I Swaco to name a few.

David's oil and gas industry involvement also includes acting as site supervisor for Moorland Energy.

In 1976, David started his first limited company. After working with many large companies, including Jersey Produce, News International and publisher DH Greaves, he expanded into European markets and started transporting various goods to multiple countries including Spain, France, Italy, Germany, Belgium, Switzerland and the UK.

David also worked directly with Kingspan Group PLC, which supplies building materials to a worldwide market across all continents.

FOR ADDITIONAL INFORMATION

Read more about the Company's leadership team on Polar Petroleum's official website, as well as further information about the Company and its latest news releases at http://www.polarpetro.com.

ABOUT POLAR PETROLEUM CORP.

Polar Petroleum (OTCBB:POLR) is an independent American oil and gas company based in Anchorage, AK. The Company is focused on securing domestic energy solutions through the exploration, development and production of oil and natural gas in Alaska's proven North Slope region: home to the 2 largest oil fields in North America, over 10 other producing fields, and established infrastructure. The Company's Franklin Bluffs Project overlies the 3 source rocks thought to represent potential unconventional shale oil on the North Slope. Test drilling in the vicinity has met expectations for finding oil in the source rocks.* The Company's Hemi Springs Project is positioned within 1 of 18 Beaufortian accumulations in Alaska that together represent EUR of 5 billion barrels of oil and 12 trillion cubic feet of gas.**

Polar's projects are strategically positioned between many of the major players of the oil and gas industry and the necessary infrastructure to bring hydrocarbons to market.

The Polar Petroleum Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=17267

* Petroleum News, Sept. 23, 2012; ** US Geological Survey (USGS): Oil and Gas Resources of the Arctic Alaska Petroleum Province, 2005.

ON BEHALF OF THE BOARD OF DIRECTORS,

Polar Petroleum Corp.
Daniel Walker, President & CEO

This press release may include certain statements that are forward-looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based on Polar Petroleum Corp.'s current expectations and projections regarding future events, which are based on currently available information. The forward-looking statements in this press release may also include statements relating to Polar Petroleum Corp.'s anticipated new developments, business prospects, financial performance, strategies and similar matters. Polar Petroleum Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission permits US companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this press release, such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines prohibit US registered companies from including in their filings with the SEC. US investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from our website at http://www.polarpetro.com.

CONTACT: Polar Petroleum Corp. 4300 B Street Suite 505 Anchorage, AK 99503 USA INVESTOR RELATIONS: Toll Free: 1-888-765-2773 E-mail: ir@polarpetro.com

Source:Polar Petroleum Corp.