July 25, 2018 - OLIVUT ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF COMMON SHARES

Toronto, July 25, 2018 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV)  is pleased to announce that, in addition to the $1,600,000 financing previously announced on July 6, 2018, the Company has closed a non-brokered private placement (the “Private Placement”) comprised of 900,000 common shares (the “Common Shares”) for proceeds of $108,000 at a price of $0.12 per Common Share.  The Common Shares are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until four months after the date of issue.

Olivut will use the proceeds of the Placement for exploration and general corporate purposes.

The TSX Venture Exchange approved for listing the common shares issued under the Private Placement on July 25, 2018.

On July 6, 2018 Olivut also announced that the Company had signed an Option Agreement with Talmora Diamond Inc. (“Talmora”) to earn 50% on Talmora’s Horton Project, located in Canada’s Northwest Territories (the “Horton Project”). Olivut is the operator. A summer field season of helimag and follow-up drilling is planned to test multiple targets over the next several months.  Based on a combination of:  favourable diamond stability indicator minerals found regionally and locally, including macro diamonds found in regional samples to the west and northwest; specific target geophysics; faulting on a regional and local scale; occurrence of diamondiferous kimberlites to the north and south east, as well as other geological data affecting the area, the Company considers the Horton Project to have the potential to host economic kimberlite bodies of significant size. 

The Company believes the Horton Project could be the source of the numerous (18) macro diamonds found in regional samples as well as the positive indicator mineral chemistry found regionally.  The helimag survey will provide additional detail for drilling.  Although Talmora has been active in the area, it has not been able to conduct meaningful exploration on the Horton Project due to a lack of funding during a prolonged negative market environment.  New research and geological information has added further support to a very compelling exploration project.

Numerous targets are drill ready on the HOAM Project and a detailed helimag is proposed for the remaining regional geophysical targets in order to finalize the drill priority list.  Completion of these work programs is contingent on the raising of additional funds in excess of those committed to the Horton Project.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project (the “HOAM Project”) and an option to earn 50% interest in the Horton Project, both projects being located in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This communication to shareholders and the public contains certain forward-looking statements.  Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipate in such statements.

Martin St. Pierre, P.Geophys., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this press release.

 

Leni Keough, P.Geo.
President and Chief Executive Officer
 
For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

July 6, 2018 - OLIVUT ANNOUNCES OPTION AGREEMENT ON NEW NWT DIAMOND PROJECT AND CLOSING OF PRIVATE PLACEMENT

Toronto, July 6, 2018 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV)  President Leni Keough states: “It is an exciting and welcome development for Olivut that we will be exploring a new diamond project and that we have successfully raised the necessary financing required to meet earn-in commitments and support general corporate purposes and other work on the HOAM Project”.   The Company closed a non-brokered private placement for aggregate gross proceeds of $1,600,000 (the “Private Placement”).  The Private Placement was comprised of (i) 666,667 flow-through common shares (the “FT Shares”) for proceeds of $100,000 at a price of $0.15 per FT Share (the “FT Placement”), and (ii) 12,500,000 common shares (the “Common Shares”) for proceeds of $1,500,000 at a price of $0.12 per Common Share (the “Common Share Placement”).  The FT Shares and the Common Shares are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until four months after the date of issue. 

The Company paid a finder’s fee of $37,500, equal to 5% of certain gross proceeds of the Private Placement, to a registered dealer.

The TSX Venture Exchange approved for listing the common shares issued under the Private Placement on July 4, 2018.

Olivut will use some of the proceeds of the Private Placement to fund exploration on the Horton Project (as defined below) and the balance of the proceeds of the Private Placement for exploration on the HOAM Project (as defined below) and for general corporate purposes.

The Company is also very pleased to announce that it has signed an Option Agreement with Talmora Diamond Inc. (“Talmora”) to earn 50% on Talmora’s Horton Project, located in Canada’s Northwest Territories (the “Horton Project”), by spending $1,200,000 over two years and making a $200,000 payment to Talmora. Olivut is the operator. A summer field season of helimag and follow-up drilling is planned to test multiple targets over the next several months.  Based on a combination of:  favourable diamond stability indicator minerals found regionally and locally, including macro diamonds found in regional samples to the west and northwest; specific target geophysics; faulting on a regional and local scale; occurrence of diamondiferous kimberlites to the north and south east, as well as other geological data affecting the area, the Company considers the Horton Project to have the potential to host economic kimberlite bodies of significant size. 

The Company believes the Horton Project could be the source of the numerous (18) macro diamonds found in regional samples as well as the positive indicator mineral chemistry found regionally.  The helimag survey will provide additional detail for drilling.  Although Talmora has been active in the area, it has not been able to conduct meaningful exploration on the Horton Project due to a lack of funding during a prolonged negative market environment.  New research and geological information has added further support to a very compelling exploration project.

Numerous targets are drill ready on the HOAM Project and a detailed helimag is proposed for the remaining regional geophysical targets in order to finalize the drill priority list.  Completion of these work programs is contingent on the raising of additional funds in excess of those committed to the Horton Project.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project (the “HOAM Project”) and an option to earn 50% interest in the Horton Project, both projects being located in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This communication to shareholders and the public contains certain forward-looking statements.  Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipate in such statements.

Martin St. Pierre, P.Geophys., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this press release.

 

Leni Keough, P.Geo.
President and Chief Executive Officer
 
For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

December 22, 2017 - OLIVUT ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND COMMON SHARES

Toronto, December 22, 2017 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV)  is pleased to announce that it closed a non-brokered private placement for aggregate gross proceeds of $315,000 (the “Private Placement”).  The Private Placement was comprised of (i) 100,000 flow-through common shares (the “FT Shares”) for proceeds of $15,000 at a price of $0.15 per FT Share (the “FT Placement”), and (ii) 2,727,272 common shares (the “Common Shares”) for proceeds of $300,000 at a price of $0.11 per Common Share (the “Common Share Placement”).  The FT Shares and the Common Shares are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until April 23, 2018.

Olivut will use the proceeds of the FT Placement primarily to fund exploration of its HOAM project in the Northwest Territories, Canada and proceeds of the Common Shares for exploration and general corporate purposes.

The TSX Venture Exchange approved for listing the common shares issued under the FT Placement and Common Share Placement on December 22, 2016.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This communication to shareholders and the public contains certain forward-looking statements.  Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipate in such statements.

 

Leni Keough, P.Geo.
President and Chief Executive Officer
 
For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

October 26, 2017 - OLIVUT RESOURCES LTD. EXPLORATION UDATE AND OPTION GRANT

Toronto, October 26, 2017 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) provides HOAM project update and issues stock options.

Recent exploration on the HOAM Project has consisted of further in-depth analysis of the Company’s extensive regional database. Numerous additional new geophysical anomalies have been defined up ice from the high interest kimberlite indicator mineral (KIM) populations identified by Olivut. Detailed airborne magnetic surveys are required over these new anomalies to provide increased definition. It is anticipated that many additional targets will be added to the current drill priority list.

Also, recent modeling of many anomalies has confirmed additional high potential drill targets. The Company believes that targets slated for drilling are likely source areas for the high interest KIM populations and could represent diamondiferous kimberlite pipes.   Accordingly, a detailed helimag program and drilling of at least 25 of the highest potential targets is planned as the next stage of exploration to be carried out in the spring and summer of 2018, depending on weather conditions and the availability of financing.

The Company also continues to evaluate other potential property opportunities to enhance shareholder value.

Olivut has been able to advance its HOAM Project despite the very long downturn experienced by the exploration sector and the related depressed world market atmosphere for equity financing of junior exploration companies such as Olivut.

In addition to this exploration news, the Company has granted stock options to certain Directors, Officers and Consultants of the Company pursuant to the Company’s stock option plan to purchase up to 650,000 common shares in the capital of the Company at an exercise price of $0.075 per common share.   The stock options shall expire on October 25, 2027.

The grant of options is subject to regulatory approval, including approval of the TSX Venture Exchange.

Olivut is a diamond exploration company with a 100% mineral interest in approximately 100,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Paul Pitman, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geo.
President and Chief Executive Officer
 
For further information, please contact:
Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

October 6, 2015 - OLIVUT ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND COMMON SHARES

Toronto, October 6, 2015 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV)  is pleased to announce that it closed a non-brokered private placement for aggregate gross proceeds of $340,110 (the “Private Placement”).  The Private Placement was comprised of (i) 571,429 flow-through common shares (the “FT Shares”) for proceeds of $100,000 at a price of $0.175 per FT Share (the “FT Placement”), and (ii) 1,778,593 common shares (the “Common Shares”) for proceeds of $240,110 at a price of $0.135 per Common Share (the “Common Share Placement”).  The FT Shares and the Common Shares are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until February 7, 2016.

Olivut will use the proceeds of the FT Placement primarily to fund exploration of its HOAM project in the Northwest Territories, Canada and proceeds of the Common Shares for exploration and general corporate purposes.

The TSX Venture Exchange approved for listing the common shares issued under the FT Placement and Common Share Placement on October 6, 2015.

Two insiders participated in the Private Placement, thereby making the Private Placement a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”).  Mr. Pierre Lassonde, as insider of the Company, purchased 571,429 FT Shares and owns or controls 6,847,000 common shares or approximately 16.7% of the total common shares issued and outstanding after the completion of the Private Placement.  Ms. Leni Keough, President and Chief Executive Officer and a director of the Company, purchased 50,000 Common Shares and owns or controls 2,373,071 common shares or approximately 5.8% of the total common shares issued and outstanding after completion of the Private Placement.   The Private Placement was unanimously approved by the directors of the Company, with Ms. Keough disclosing her interest and abstaining from voting with respect thereto.  The Private Placement was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any common shares issued to or the consideration paid by such persons exceeded 25% of the Company’s market capitalization. 

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This communication to shareholders and the public contains certain forward-looking statements.  Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipate in such statements.

 

Leni Keough, P.Geo.
President and Chief Executive Officer
 
 
For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226
 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

September 30, 2015 - OLIVUT ANNOUNCES PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND COMMON SHARES

Toronto, September 30, 2015 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV)  is pleased to announce that it intends to close a non-brokered private placement for aggregate gross proceeds of $340,110 (the “Private Placement”).  The Private Placement will be comprised of (i) 571,429 flow-through common shares (the “FT Shares”) for proceeds of $100,000 at a price of $0.175 per FT Share (the “FT Placement”), and (ii) 1,778,593 common shares (the “Common Shares”) for proceeds of $240,110 at a price of $0.135 per Common Share (the “Common Share Placement”).  The FT Shares and the Common Shares are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until four months and one day after the date of closing of the Private Placement.

Olivut will use the proceeds of the FT Placement primarily to fund exploration of its HOAM project in the Northwest Territories, Canada and proceeds of the Common Shares for exploration and general corporate purposes.

The Company will be applying for TSXV approval of the shares to be issued in connection with the Private Placement.

Two insiders will participate in the Private Placement, thereby making the Private Placement a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”).  Mr. Pierre Lassonde, as insider of the Company, intends to purchase 571,429 FT Shares and will own or control 6,847,000 common shares or approximately 16.7% of the total common shares issued and outstanding after the completion of the Private Placement.  Ms. Leni Keough, President and Chief Executive Officer and a director of the Company, intends to purchase 50,000 Common Shares and will own or control 2,373,071 common shares or approximately 5.8% of the total common shares issued and outstanding after completion of the Private Placement.   The Private Placement was unanimously approved by the directors of the Company, with Ms. Keough disclosing her interest and abstaining from voting with respect thereto.  The Private Placement was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any common shares issued to or the consideration paid by such persons exceeded 25% of the Company’s market capitalization. 

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This communication to shareholders and the public contains certain forward-looking statements.  Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipate in such statements.

 

Leni Keough, P.Geo.
President and Chief Executive Officer
 
 
For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226
 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

March 30, 2015 - OLIVUT RESOURCES LTD. FUNDING AND EXPLORATION UPDATE

OLIVUT RESOURCES LTD. FUNDING AND EXPLORATION UPDATE

Toronto, March 30, 2015 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to provide a funding and exploration update.

The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between the Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut, provided the flexibility to alter tranche financing based on cash flow requirements and current market conditions. CSOF was issued 341,915 common shares of the Company on March 17, 2015 at $0.1243 per share as repayment for the $42,500 tranche funding received on August 18, 2014. The qualifying base shelf prospectus and the terms of the related exemptive relief issued by securities regulators will expire on April 12, 2015, 25 months after grant. Consequently, CSOF and Olivut mutually agreed to terminate the Agreement effective March 27, 2015 to eliminate otherwise unnecessary costs associated with regulatory compliance requirements prior to the April expiry date.  Olivut and CSOF look forward to working together again in the future should the right opportunity arise.  On March 31, 2015 the Company filed the Unaudited Condensed Interim Financial Statements as at and for the three months ended January 31, 2015 and Management’s Discussion and Analysis for the same period.

Exploration on the HOAM Project throughout 2014 and the quarter ended January 31, 2015 consisted of interpretation of the Company’s extensive regional airborne geophysical database.  This work is now complete.  Numerous additional new anomalies have been defined up ice from high interest kimberlite indicator mineral (KIM) populations. The bedrock sources for these KIMs have yet to be identified. Based on the encouraging results to date, detailed airborne magnetic surveys will be required over these new anomalies. It is anticipated that many additional targets will be added to the list of priority targets already slated to be tested by the next stage of drilling.  The initial 2015 detailed exploration geophysical program is planned for late spring and will be conducted as funding and weather conditions permit.

Results of the geophysical analysis combined with the proposed detailed airborne survey work will define new priority drill targets.  This should place the Company in a strong position when market sentiment improves and junior exploration drilling programs are actively supported.  Given the world market atmosphere for equity financing of junior companies, management believes it is in the shareholders’ best interest for the Company to maintain a conservative approach to exploration while continuing to advance its field projects.

Olivut is a diamond exploration company with a 100% mineral interest in approximately 129,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Paul Pitman, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical contents of this press release.


Leni Keough, P.Geo.
President and Chief Executive Officer


For further information, please contact:
Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

December 16, 2014 - OLIVUT RESOURCES LTD. EXPLORATION AND FUNDING UPDATE

OLIVUT RESOURCES LTD. EXPLORATION AND FUNDING UPDATE

Toronto, December 16, 2014 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) advances HOAM project, pays off remaining convertible debenture, issues stock options and files year-end financial statements.

Throughout 2014, exploration on the HOAM Project was comprised predominantly of the ongoing interpretation of the Company’s extensive regional airborne geophysical database. This work will be completed by year end.  Numerous new targets have been defined up ice from high interest kimberlite indicator mineral (KIM) populations. The bedrock sources for these KIMs have yet to be identified. Based on the encouraging results to date, detailed airborne magnetic surveys will be required over these new targets.  It is anticipated that many additional anomalies will be added to the list of priority targets already slated to be tested by the next stage of drilling.  The initial 2015 detailed exploration geophysical program is planned for late spring and will be conducted as funding and weather conditions permit.

The results of the geophysical analysis combined with proposed detailed airborne survey work will define new priority drill targets.  This should place the Company in a strong position when market sentiment improves and junior exploration drilling programs are actively supported.  Given the world market atmosphere for equity financing of junior companies, Management believes it is in the shareholders’ best interest for the Company to maintain a conservative approach to exploration while continuing to advance its field projects.

The Company has granted stock options to certain Directors, Officers and Consultants of the Company pursuant to the Company’s stock option plan to purchase up to 1,130,000 common shares in the capital of the Company at an exercise price of $0.11 per common share.   The stock options shall expire on December 15, 2024.

The grant of options is subject to regulatory approval, including approval of the TSX Venture Exchange.

On December 16, 2014 the Company filed the Audited Financial Statements as at and for the Years Ended October 31, 2014 and 2013 and the Management’s Discussion and Analysis for the year ended October 31, 2014.

On November 15, 2014 the Company repaid in cash, without further shareholder dilution, the remaining balance of $150,000 of the $300,000 principal amount convertible security that was issued to the Canadian Special Opportunity Fund, L.P. (“CSOF”) by Olivut.  Continued financial support is being provided by CSOF.  The terms of the Securities Purchase Agreement dated March 12, 2013, between CSOF and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  On September 30, 2014 CSOF elected to offset an August 18, 2014 cash payment of $42,500 against the next cash advance and to pause additional cash advances and the related tranche securities issuances.  No shares were issued to CSOF in the last fiscal quarter ended October 31, 2014.

Additional information on the Company, including copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued, are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

Olivut is a diamond exploration company with a 100% mineral interest in approximately 129,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Paul Pitman, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.


Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

October 15, 2014 - OLIVUT RESOURCES LTD. REGRETS THE PASSING OF LONG TERM DIRECTOR SARGENT BERNER and CLOSES PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND COMMON SHARES


OLIVUT REGRETS THE PASSING OF LONG TERM DIRECTOR SARGENT BERNER and CLOSES PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND COMMON SHARES

Toronto, October 15, 2014 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) will sadly miss the guidance and friendship of Sargent “Sarge” Berner who gave generously of his time and energy as a Board member since 2007 until his death on September 10th.  Sarge, a graduate of the University of British Columbia (“UBC”) (BA and LLB) and the London School of Economics (LLM), was formerly a senior partner of the Vancouver law firm DuMoulin Black LLP where he practiced in the areas of corporate, securities and natural resource law.  Sarge also previously taught law at UBC and served as a director of and advisor to a number of other public companies.  Sarge was never shy and was always willing to share his knowledge and expertise and provide valuable guidance through strong opinions delivered with his quick, dry wit! He was thoroughly interested in and actively pursued an in-depth understanding of our exploration undertakings.  He was continuously supportive of Olivut throughout these tough markets.  We will miss him personally as well as professionally.

The Company is pleased to announce that it closed a non-brokered private placement for aggregate gross proceeds of $330,000 (the “Private Placement”).  The Private Placement comprised placements of (i) 420,000 flow-through common shares (the “FT Shares”) for proceeds of $105,000 at a price of $0.25 per FT Share (the “FT Placement”), and (ii) 1,125,000 common shares (the “Common Shares”) for proceeds of $225,000 at a price of $0.20 per Common Share (the “Common Share Placement”).  The FT Shares and the Common Shares are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until February 16, 2015.

The Company paid a finder’s fee of $300, equal to 1% of certain gross proceeds of the FT Placement, to a registered dealer.

Olivut will use the proceeds of the FT Placement primarily to fund exploration of its HOAM project in the Northwest Territories, Canada and proceeds of the Common Shares for exploration and general corporate purposes.

The TSX Venture Exchange approved for listing the common shares issued under the FT Placement and Common Share Placement on October 7, 2014.

Two insiders participated in the Private Placement, thereby making the Private Placement a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”).  Mr. Pierre Lassonde, as insider of the Company, purchased 250,000 Common Shares and will own or control 6,275,571 common shares or approximately 16.5% of the total common shares issued and outstanding after the completion of the Private Placement.  Ms. Leni Keough, President and Chief Executive Officer and a director of the Company, purchased 220,000 FT Shares and will own or control 2,226,071 common shares or approximately 5.8% of the total common shares issued and outstanding after completion of the Private Placement (or 3,788,571 common shares representing approximately 9.2% of the issued and outstanding common shares assuming the exercise of convertible securities already owned by Ms. Keough entitling her to acquire 1,562,500 common shares upon conversion).   The Private Placement was unanimously approved by the directors of the Company, with Ms. Keough disclosing her interest and abstaining from voting with respect thereto.  The Private Placement was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any common shares issued to or the consideration paid by such persons exceeded 25% of the Company’s market capitalization.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This communication to shareholders and the public contains certain forward-looking statements.  Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipate in such statements.


Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

August 21, 2014 - OLIVUT RESOURCES LTD. FUNDING AND EXPLORATION UPDATE

OLIVUT RESOURCES LTD. FUNDING AND EXPLORATION UPDATE

Toronto, August 21, 2014 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is  pleased to provide a funding and exploration update.

Continued financial support is being provided by the Canadian Special Opportunity Fund, L.P. (“CSOF”).  The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between CSOF and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  Consequently, in order to avoid unnecessary dilution at current stock prices Olivut has requested a reduction in funding at this time and accordingly, pursuant to the terms of the Agreement, CSOF has advanced to the Company $42,500 for the next tranche financing for which it is anticipated shares will be issued on September 15, 2014. CSOF was issued 290,909 shares of the Company on June 17, 2014 at $0.165 per share as repayment for the $48,000 tranche funding received on May 2, 2014.  

Exploration on the HOAM Project is comprised predominantly of an ongoing interpretation of the Company’s extensive regional airborne geophysical database. This work is nearing completion.  Additional new targets have been defined up ice from high interest kimberlite indicator mineral (KIM) populations. Bedrock sources for these KIMs have not been identified by previous work. Detailed airborne magnetic surveys will be carried out over the new targets and it is anticipated that many will be added to the list of priority targets slated to be tested by the next stage of drilling.  Some detailed airborne work is scheduled for the remaining 2014 field season as funding and weather (including forest fire) conditions permit.

The ongoing geophysical analysis combined with the proposed detailed airborne survey work will define new priority drill targets and could place the Company in a strong position if market sentiment improves and junior exploration drilling programs are actively supported.  Given world market atmosphere for equity financing of junior companies, Management believes it is in the shareholders’ best interest for the Company to maintain a conservative approach to exploration while continuing to advance its field projects.

Additional information on the Company, including copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued, are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

Olivut is a diamond exploration company with a 100% mineral interest in approximately 129,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Paul Pitman, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.


Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

May 6, 2014 - OLIVUT RESOURCES EXPLORATION AND FUNDING UPDATE

OLIVUT RESOURCES LTD. EXPLORATION AND FUNDING UPDATE

Toronto, May 6, 2014 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to provide an exploration and funding update.

Over the past several months, ongoing interpretation of the Company’s extensive regional airborne geophysical database on the HOAM project has defined numerous new targets. These targets occur in areas up ice from high interest kimberlite indicator mineral (KIM) populations. The bedrock sources for these KIMs have not been identified by previous work. Detailed airborne magnetics will be carried out over the new targets and it is expected that many will be added to the list of priority targets that are slated to be tested by the next stage of drilling.  Analysis of the regional geophysical data will continue for the next several months with completion of the work expected by mid-summer.  Additionally, planning for the detailed airborne work is underway and some work may be conducted during the 2014 summer field season. Given current world market conditions for equity financing of junior companies, Management believes it is in the shareholders’ best interest for the Company to maintain a conservative approach to exploration while continuing to advance its field projects.  The ongoing geophysical analysis combined with the proposed detailed airborne survey work will define new priority drill targets and will place the Company in a strong position for when market sentiment improves and junior exploration programs such as drilling will be actively supported.

The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between The Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  Therefore, pursuant to the terms of the Agreement, CSOF has advanced to the Company $48,000 for the next tranche financing for which it is anticipated shares will be issued on May 30, 2014. Also, as contemplated in and pursuant to the terms of the Agreement, CSOF has elected to redeem $150,000 of the $300,000 principal amount convertible security that was issued to it by Olivut on March 13, 2013, with such amount paid by Olivut in cash on April 29, 2014.  The Company is pleased to be able to reduce the amount of the convertible debenture without further shareholder dilution.

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

On December 16, 2013 the Company filed the audited Financial Statements as at and for the years ended October 31, 2013 and 2012 and the Management’s Discussion and Analysis for the year ended October 31, 2013.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Paul Pitman, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.


Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

February 14, 2014 - OLIVUT RESOURCES FUNDING UPDATE


OLIVUT RESOURCES LTD. EXPLORATION AND FUNDING UPDATE

Toronto, February 14, 2014 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is  pleased to provide a funding update.

The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between The Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  Therefore, in order to avoid unnecessary dilution at current stock prices Olivut has not requested additional funding at this time and accordingly, pursuant to the terms of the Agreement, CSOF has agreed to postpone the next cash advance.

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

Olivut is a diamond exploration company with a 100% mineral interest in over 129,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

January 14, 2014 - OLIVUT RESOURCES LTD. EXPLORATION AND FUNDING UPDATE

OLIVUT RESOURCES LTD. EXPLORATION AND FUNDING UPDATE

Toronto, January 14, 2014 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is  pleased to provide a funding update.

The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between The Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  Therefore, in order to avoid unnecessary dilution at current stock prices Olivut has requested a reduction in funding at this time and accordingly, pursuant to the terms of the Agreement, CSOF has elected to postpone the next cash advance. Also, as contemplated in Olivut’s press release dated December 18, 2013, CSOF was issued 298,679 shares of the Company on January 13, 2014 at $0.1741 per share as repayment for the $52,000 tranche funding received on December 16, 2013.

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

On December 16, 2013 the Company filed the audited Financial Statements as at and for the Years Ended October 31, 2013 and 2012 and the Management’s Discussion and Analysis for the year ended October 31, 2013.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough,
President and Chief Executive Officer
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

December 18, 2013 - OLIVUT RESOURCES LTD. - FUNDING UPDATE

OLIVUT RESOURCES LTD. FUNDING UPDATE

Toronto, December 18, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is  pleased to provide a funding update.

The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between The Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  Therefore, Olivut has elected to reduce the funding at this time to avoid unnecessary dilution at current stock prices.   Accordingly, no securities will be issued to repay the $52,000 tranche financing advanced on November 15, 2013 and these advanced funds will be used to offset additional funding for the same amount requested on December 13, 2013. The share issuance date for this tranche is anticipated to be January 13, 2013.  There were no shares issued to CSOF in the Company’s financial quarter ended October 31, 2013.

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

On December 16, 2013 the Company filed the audited Financial Statements as at and for the Years Ended October 31, 2013 and 2012 and the Management’s Discussion and Analysis for the year ended October 31, 2013.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.


Leni Keough, P.Geo.
President and Chief Executive Officer


For further information, please contact:
Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

November 15, 2013 - OLIVUT RESOURCES LTD. FUNDING UPDATE

OLIVUT RESOURCES LTD. FUNDING UPDATE

Toronto, November 15, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is  pleased to provide a funding update.

The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between The Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  Therefore, Olivut has elected to reduce the funding at this time to avoid unnecessary dilution at current stock prices.   Accordingly, no securities will be issued to repay the $52,000 tranche financing advanced on October 16, 2013 and these advanced funds will be used to offset additional funding for the same amount requested on November 14, 2013. The share issuance date for this tranche is anticipated to be December 13, 2013.

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

On September 12, 2013 the Company filed the Unaudited Condensed Interim Financial Statements as at and for the Nine Months Ended July 31, 2013 and the Management’s Discussion and Analysis for the same period.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

October 31, 2013 - OLIVUT RESOURCES LTD. EXPLORATION UPDATE

Toronto, October 31, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to provide an update on the late summer exploration program on the HOAM Project.

In September a detailed helimag program was undertaken to assess moderate to high priority anomalies identified from the ongoing analysis of Olivut’s regional airborne magnetic database. Twenty-three blocks were flown at 50 metre line spacing. The blocks were selected based on logistical parameters to maximize the amount of data that could be obtained within a limited 2013 field budget. Numerous other moderate to high priority regional magnetic targets occur elsewhere in the project area and will be a priority for the next phase of detailed airborne surveys.

As a result of the new helimag detail, seventeen targets are classified as being of moderate to high interest. Detailed magnetic modeling of these targets will be completed before they are added to the current priority drill list. Several targets are very discreet and are of high interest.

A larger helimag block was flown over an area of known kimberlite occurrences to assess regional structures and define weaker magnetic responses. Compilation and assessment of this information is ongoing but the Company is very pleased with preliminary results from this test area. This new data has implications for exploration within the broader region of the HOAM project area.

Despite the current downturn in the junior resource sector, Olivut is actively moving forward with exploration on the HOAM project. The analysis of existing regional airborne data for the HOAM Project is ongoing and will continue for several more months.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories. Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Paul Pitman, P.Geo., Qualified Persons as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

October 18, 2013 - OLIVUT RESOURCES LTD. FUNDING UPDATE


OLIVUT RESOURCES LTD. FUNDING UPDATE

Toronto, October 18, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is  pleased to provide a funding update.

The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between The Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  Therefore, Olivut has elected to reduce the funding at this time to avoid unnecessary dilution at current stock prices.   Accordingly, no securities will be issued to repay the $52,000 tranche financing advanced on September 13, 2013 and these advanced funds will be used to offset additional funding for the same amount requested on October 15, 2013. The share issuance date for this tranche is anticipated to be November 13, 2013.

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

On September 12, 2013 the Company filed the Unaudited Condensed Interim Financial Statements as at and for the Nine Months Ended July 31, 2013 and the Management’s Discussion and Analysis for the same period.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

September 12, 2013 - OLIVUT RESOURCES LTD. FUNDING UPDATE

OLIVUT RESOURCES LTD. FUNDING UPDATE

Toronto, September 12, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is  pleased to provide an exploration and funding update.

A low level helimag geophysical program is currently underway on the HOAM project over selected high priority areas.

The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between The Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut provide the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  Therefore, Olivut has elected to reduce the funding at this time to avoid unnecessary dilution at current stock prices.   Accordingly, no securities will be issued to repay the $52,000 tranche financing advanced on August 14, 2013 and these advanced funds will be used to offset additional funding for the same amount requested on September 12, 2013. The share issuance date for this tranche is anticipated to be October 11, 2013.

Shares issued in the last fiscal quarter ended July 31, 2013 pursuant to the terms of the Agreement are:

Date

Amount

Price Per Share

Shares

 

$

$

#

May 10, 2013

           $200,000  

     0.2807

            712,504

June 11, 2013

$68,373

     0.2700

            253,233

July 11, 2013

$64,500

     0.2312

            278,979

 
 

 

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

On September 12, 2013 the Company filed the Unaudited Condensed Interim Financial Statements as at and for the Nine Months Ended July 31, 2013 and the Management’s Discussion and Analysis for the same period.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Paul Pitman, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

 

Leni Keough, P.Geo.

President and Chief Executive Officer

For further information, please contact:

Leni Keough

President and Chief Executive Officer

(780) 866-2226

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

August 14, 2013 - OLIVUT RESOURCES LTD. EXPLORATION AND FUNDING UPDATE

Toronto, August 14, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is  pleased to provide a funding and exploration update.

The terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013, between The Canadian Special Opportunity Fund, L.P. (“CSOF”) and Olivut provides the flexibility to alter tranche financing based on cash flow requirements and current market conditions.  Therefore, Olivut has elected to reduce the funding at this time to avoid unnecessary dilution at these stock prices.   Accordingly, no securities will be issued to repay the $52,000 tranche financing advanced on July 15, 2013 and these advanced funds will be used to offset additional funding for the same amount requested on August 13, 2013. The share issuance date for this tranche is anticipated to be September 11, 2013.

Preparations are underway to commence during August a low level, airborne helimag geophysical survey in the HOAM project area. Weather permitting, airborne surveys will be undertaken over selected high priority areas. Olivut has financing in place to conduct the planned survey work.

Olivut has terminated the option agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America.  Olivut management has determined Itapoty to be a longer term grass roots project and the Company intends to focus on diamond projects that in its opinion have greater potential for early success.

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and specific Pricing Supplements for securities issued are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

On June 11, 2013 the Company filed the Unaudited Condensed Interim Financial Statements as at and for the Six Months Ended April 30, 2013 and the Management’s Discussion and Analysis for the same period.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Paul Pitman, P.Geo., and Martin Jackson, MAusIMM, Qualified Persons as defined by National Instrument 43-101, have reviewed the contents of this press release for the HOAM Project and the ITAPOTY Project respectively.

Leni Keough, P.Geo.

President and Chief Executive Officer

For further information, please contact:

Leni Keough

President and Chief Executive Officer

(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

July 12, 2013 - OLIVUT RESOURCES LTD. EXPLORATION AND FUNDING UPDATE

OLIVUT RESOURCES LTD. EXPLORATION AND FUNDING UPDATE

Toronto, July 12, 2013
– Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is  pleased to provide an exploration and funding update.

The analysis of regional airborne data for the HOAM Project has defined numerous new target areas for follow-up with detailed, low level airborne magnetic surveys.  Analysis is ongoing.  Weather conditions permitting, airborne surveys will be undertaken over certain highest priority areas during the summer season.  Olivut has financing in place to conduct the planned survey work.

In Paraguay, heavy rains have hampered plans for a sampling program to be conducted during the South American winter season that typically is the driest time of the year.  The Company is monitoring conditions before committing to field work on the properties.

Also, pursuant to the terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013 the Canadian Special Opportunity Fund, L.P. (“CSOF”), has advanced to the Company $52,000 for the next tranche financing for which it is anticipated shares will be issued on August 12, 2013.

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and the Pricing Supplement dated July 11, 2013 are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights.

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

On June 11, 2013 the Company filed the Unaudited Condensed Interim Financial Statements as at and for the Six Months Ended April 30, 2013 and the Management’s Discussion and Analysis for the same period.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories and an agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Paul Pitman, P.Geo., and Martin Jackson, MAusIMM, Qualified Persons as defined by National Instrument 43-101, have reviewed the contents of this press release for the HOAM Project and the ITAPOTY Project respectively. 

Leni Keough, P.Geo.
President and Chief Executive Officer


For further information, please contact:

Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

June 12, 2013 - OLIVUT RESOURCES LTD. FUNDING UPDATE

OLIVUT RESOURCES LTD. FUNDING UPDATE

Toronto, June 12, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) announces that pursuant to the terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013 to raise up to $18 million over approximately 36 months in a tranched placement of securities to the Canadian Special Opportunity Fund, L.P. (“CSOF”), CSOF has advanced to the Company $64,500 for the next tranche financing for which it is anticipated shares will be issued on July 11, 2013.

Shares issued to date pursuant to the terms of the Agreement are:

 

Date

Number of Shares

Price per Share

March 12, 2013

505,944

0.3953

May 10, 2013

712,504

0.2807

June 11, 2013

253,233

0.2700

Total # of Shares

1,471,681

 

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and the Pricing Supplement dated June 11, 2013 are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.  Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above.  The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

On June 11, 2013 the Company filed the Unaudited Condensed Interim Financial Statements as at and for the Six Months Ended April 30, 2013 and the Management’s Discussion and Analysis for the same period.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories and an agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Leni Keough, P.Geo.
President and Chief Executive Officer


For further information, please contact:

Leni Keough
President and Chief Executive Officer
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

May 14, 2013 - OLIVUT RESOURCES LTD. FUNDING UPDATE

OLIVUT RESOURCES LTD. FUNDING UPDATE

Toronto, May 14, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) announces that pursuant to the terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013 to raise up to $18 million over approximately 36 months in a tranched placement of securities to the Canadian Special Opportunity Fund, L.P. (“CSOF”), CSOF was issued 712,504 shares of the Company on May 10, 2013 as repayment for the initial $200,000 tranche funding received on March 13, 2013 and rolled over to April 12, 2013. Also in accordance with the terms of the Agreement, CSOF has advanced to the Company $68,372.83 for the next tranche financing for which it is anticipated shares will be issued on June 10, 2013.

The terms of the Agreement permit the Company to take into account current market conditions to avoid excessive dilution.

Olivut is a diamond exploration company with a 100% mineral interest in over 130,000 acres in the HOAM Project in Canada’s Northwest Territories and an agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America. Please visit www.olivut.com for detailed corporate and project information.

Copies of the qualifying base shelf prospectus dated March 11, 2013, the prospectus supplement dated March 12, 2013 and the Pricing Supplement dated May 10, 2013 are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com. Unless provided otherwise in a pricing supplement, the following is a description of a purchaser's statutory rights:

Securities legislation in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities. This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions, revision of the price or damages if the prospectus and any amendment are not delivered to the purchaser, provided that the remedies for rescission, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. However, such rights and remedies will not be available to purchasers of common shares distributed under the prospectus supplement because the prospectus, the prospectus supplement and the relevant pricing supplement will not be delivered to purchasers, as permitted under a decision document issued by the Alberta Securities Commission on December 5, 2012. The securities legislation further provides a purchaser with remedies for recession or, in some jurisdictions, revisions of the price or damages, if the prospectus and any amendment contain a misrepresentation, provided that the remedies for recession, revisions of the price or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province. Such remedies remain unaffected by the non-delivery of the prospectus permitted under the decision documents referred to above. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of these rights or consult with a legal adviser.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

April 11, 2013 - OLIVUT RESOURCES LTD. FUNDING UPDATE

OLIVUT RESOURCES LTD. FUNDING UPDATE

Toronto, April 11, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) announces that pursuant to the terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013 to raise up to $18 million over approximately the next 36 months in a tranched placement of securities to the Canadian Special Opportunity Fund, L.P. (“CSOF”), CSOF has elected not to receive common shares as repayment for the initial $200,000 tranche funding received on March 13, 2013. In accordance with the terms of the Agreement, at the Company’s election the initial $200,000 tranche financing that would otherwise be repayable to CSOF will instead be set off against the prepayment due in connection with a subsequent cash advance under the Agreement. Therefore, the $200,000 of common shares to repay this initial cash advance that were initially expected to be issued on April 9, 2013 are now expected to be issued on May 10, 2013.

The terms of the Agreement permit the Company to take into account current market conditions to avoid excessive dilution.

Olivut is a diamond exploration company with a 100% mineral interest in over 142,000 acres in the HOAM Project in Canada’s Northwest Territories and an agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America. Please visit www.olivut.com for detailed corporate and project information.

Copies of the qualifying base shelf prospectus dated March 11, 2013 and the prospectus supplement dated March 12, 2013 are available on SEDAR. These documents, as well as any documents incorporated therein by reference may be obtained on request without charge from Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

April 8, 2013 - OLIVUT PRESS RELEASE

OLIVUT RESOURCES LTD. PROVIDES UPDATE ON INNOVATIVE FUNDING COMMITMENT AND EXPLORATION PLANS

Toronto, April 8, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) announces that it has closed its previously announced private placement of a $300,000 callable, convertible security pursuant to the terms of the Securities Purchase Agreement (the “Agreement”) dated March 12, 2013 to raise up to $18 million over approximately the next 36 months in a tranched placement of securities to the Canadian Special Opportunity Fund, L.P., a fund managed by The Lind Partners, a New York-based asset management firm (together “Lind”) focused on junior natural resource companies.

As previously announced, the convertible security may be converted into 689,655 units (each a “Unit”). The first 500,000 Units issued shall be comprised of one common share and one warrant (the warrant entitling the holder to purchase one common share, as further described below) and the remaining Units issued shall be exercisable for one common share. The convertible security is repayable March 31, 2016 carries a 0% interest rate and is unsecured and subordinated.  The holder has the right to call the security at any time commencing upon the earlier of (i) September 12, 2013 or (ii) the date on which the Company terminates the Agreement. The convertible security may be converted into Units any time. The 500,000 warrants that may be issued on conversion entitle the holder to purchase common shares at $0.5957 per share until March 31, 2016; half vested on March 13, 2013 and half vest upon the earlier of March 13, 2014 or immediately upon termination of the Agreement by the Company.

The convertible security, and any common shares or warrants of Olivut issuable upon conversion of the convertible security or upon the exercise of any warrants issued thereunder are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until July 14, 2013.

Subject to the terms and conditions of the Agreement, Lind invested $500,000 on March 13, 2013 and may invest $200,000 every month (approximately) over the following 35 months. Tranches may be increased to a maximum of $500,000 upon mutual agreement between Olivut and Lind and may be less than $200,000 after the first tranche if any single tranche exceeds 0.55% of the Company’s market capitalization. The initial investment of $500,000 consisted of (i) the $300,000 callable, convertible security discussed above and (ii) $200,000 to purchase common shares, expected to be issued on April 9, 2013. The number of common shares to be issued in a tranche will be calculated based on a price per common share equal to 92.5% of the Daily Volume Weighted Average Price (“VWAP”) per common share on the TSXV for the 5 days chosen by Lind out of the 20 trading days preceding such issuance date and provided such price will not be less than the higher of (i) the closing price per Common Share or (ii) the volume-weighted average price per Common Share, on the TSXV on the trading day immediately preceding the relevant cash advance date, in either case, less the maximum permitted discount under TSXV regulations.

As part of the financing, Lind received a commitment fee of $200,000 payable in 505,944 common shares calculated at $0.3953 per share. These commitment fee shares are qualified by the short form base shelf prospectus of the Company dated March 11, 2013, as supplemented by the prospectus supplement dated March 12, 2013, both of which are available on SEDAR. Copies of the base prospectus and the prospectus supplement, as well as any documents incorporated therein by reference may be obtained on request without charge from the President and Chief Executive Officer of Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties, Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure documents available through the internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website at www.sedar.com.

Olivut intends to use the proceeds to supplement its current cash position of approximately $1.5 million, to continue Olivut’s exploration programs and for working capital purposes.

Geophysical analysis is ongoing for the HOAM project on the very large, regional airborne magnetic survey database with the intent of prioritizing additional anomalies for follow-up with detailed airborne geophysical surveys and drilling. Planning is also underway to for a detailed sampling program in Paraguay to be undertaken in the near term.  The intent of the sampling is to pinpoint possible source locations for the diamonds previously recovered in several stream drainages.

Olivut is a diamond exploration company with a 100% mineral interest in over 142,000 acres in the HOAM Project in Canada’s Northwest Territories and an agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America.  Please visit www.olivut.com for detailed corporate and project information.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.
Paul Pitman, a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release that relate to the proposed exploration programs.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

March 12, 2013 - OLIVUT RESOURCES LTD. ANNOUNCES INNOVATIVE FUNDING COMMITMENT FOR UP TO $18 MILLION

OLIVUT RESOURCES LTD. ANNOUNCES INNOVATIVE FUNDING COMMITMENT FOR UP TO $18 MILLION

Toronto, March 12, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is very pleased to announce that it has entered into a Securities Purchase Agreement (the “Agreement”) to raise up to $18 million over approximately the next 36 months in a tranched placement of securities to the Canadian Special Opportunity Fund, L.P., a fund managed by The Lind Partners, a New York-based asset management firm (together “Lind”) focused on junior natural resource companies. It is anticipated that the initial cash advance date under the Agreement will occur on March 13, 2013.

Management believes that this non-exclusive, long term funding commitment provides Olivut with additional growth capital to confidently proceed forward to create value for Olivut shareholders.   The funding commitment is an innovative investment structure that is new in Canada. It has been used successfully by Lind to fund numerous junior mining companies in other markets. Olivut and Lind have worked together to adapt this structure in order to obtain all required approvals from the Canadian regulatory bodies and the TSX Venture Exchange (the "TSXV"). Olivut is pleased to be the first to access capital under this structure in Canada and is especially positive about this development given the extremely challenging equity environment for junior financing. Management of Olivut is very pleased to be working with Lind which has a long track record of investing in junior mining companies. The Company has confidence in the supportive nature of Lind and looks forward to the regular periodic influx of capital to facilitate longer term corporate planning. The non-exclusive nature of this financing allows the Company the flexibility to pursue additional funding alternatives as market opportunities arise.

 

Olivut intends to use the proceeds to supplement its current cash position of approximately $1.1 million, to continue Olivut’s exploration programs and for working capital purposes.

Subject to the terms and conditions of the Agreement, Lind will invest $500,000 on the initial cash advance date and $200,000 every month (approximately) over the following 35 months. Tranches may be increased to a maximum of $500,000 upon mutual agreement between Olivut and Lind and may be less than $200,000 after the first tranche if any single tranche exceeds 0.55% of the Company’s market capitalization. The initial investment of $500,000 consists of (i) a $300,000 callable, convertible security that may be converted into 689,655 units (each a “Unit”). The first 500,000 Units issued shall be comprised of one common share and one warrant (the warrant entitling the holder to purchase one common share, as further described below) and the remaining Units issued shall be exercisable for one common share; and (ii) $200,000 to purchase common shares, expected to be issued on April 9, 2013. A maximum of 500,000 warrants may be issued to Lind.

The convertible security has a term of 36 months with a 0% interest rate and is unsecured and subordinated. Lind has the right to call the security at any time commencing upon the earlier of (i) the date six months following the date of the Agreement or (ii) the date on which the Company terminates the Agreement. The convertible security may be converted into Units any time after the initial cash advance date.

The 500,000 warrants that may be issued entitle the holder to purchase common shares at $0.5957 per share until the date that is 36 months after the initial cash advance date; half vest immediately and half vest upon the earlier of the date that is 12 months after the initial cash advance date or immediately upon termination of the Agreement by the Company.

The number of common shares issued in the subsequent tranches will be calculated based on a price per common share equal to 92.5% of the Daily Volume Weighted Average Price (“VWAP”) per common share on the TSXV for the 5 days chosen by Lind out of the 20 trading days preceding such issuance date and provided such price will not be less than the higher of (i) the closing price per Common Share or (ii) the volume-weighted average price per Common Share, on the TSXV on the trading day immediately preceding the relevant cash advance date, in either case, less the maximum permitted discount under TSXV regulations.

The Agreement includes explicit no shorting provisions (including that Lind, its affiliates, associates and insiders will not sell Olivut shares that it does not hold in its inventory and that it does not own outright; pre-sell shares that it expects to receive or has contracted to receive, where such shares have not yet been issued and delivered to it; borrow shares to be sold; or borrow shares to cover a short position), a floor price which enables Olivut to refuse to issue stock below $0.40 and the option for Olivut to terminate the Agreement at any time, subject to compliance with the terms of the Agreement.

As part of the financing, Lind will receive a commitment fee of $200,000 payable in 505,944 common shares.

Common shares issued in approximately monthly tranches and for the commitment fee will be qualified for resale in Canada by a prospectus and issued to Lind utilizing an exemption from United States securities laws. The convertible security and underlying common shares and warrants will be issued under exemptions from Canadian and United States securities laws and will be subject to a four month hold period. Shareholders will be updated on a quarterly basis regarding the number of shares issued. If tranches deviate from $200,000 a press release will explain the funding details.

The Agreement, and any issuance of securities made thereunder, is subject to receipt of all required regulatory approvals including the approval of the TSXV and applicable securities regulatory authorities. In connection with the Agreement, Olivut will file the Agreement and a supplement to the final base shelf prospectus that it currently has filed with the securities regulators in Alberta, Ontario and British Columbia. Olivut and Lind have jointly applied for and obtained an order for exemptive relief from certain requirements of the securities laws of such jurisdictions. The Company’s current base shelf prospectus is filed on SEDAR and is available at www.sedar.com.

Olivut is a diamond exploration company with a 100% mineral interest in over 142,000 acres in the HOAM Project in Canada’s Northwest Territories and an agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America. Please visit www.olivut.com for detailed corporate and project information.

The Lind Partners, LLC is a New York-based asset management firm that manages the Canadian Special Opportunity Fund, L.P. and the Australian Special Opportunity Fund, L.P.  The Lind team has been investing in junior natural resource companies since 2009 and has completed more than 35 direct investment transactions – similar to this investment in Olivut – for more than $385 million of total transaction value, mainly in Australian publicly traded junior companies in mining, oil & gas, biotech and clean tech.

This press release contains forward-looking statements with respect to the Company, and matters concerning the raising of additional capital, the business, operations, strategy, and financial performance of the Company. Actual results may differ materially from those indicated by such statements. These statements generally, but not always, can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Company’s properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and the Company does not undertake any obligation to update such statements except as required by law.|

For further information, please contact:
Leni Keough, P. Geo.

President and Chief Executive Officer
(780) 866-2226

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release is not for distribution to United States newswire services or for dissemination in the United States.

January 4, 2013 - OLIVUT RESOURCES LTD. PROVIDES EXPLORATION UPDATE

OLIVUT RESOURCES LTD. PROVIDES EXPLORATION UPDATE

Toronto, January 4, 2013 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) provides an update for its exploration programs.

The 2012 HOAM exploration program, reduced in scope and expenditure as a result of world financial markets, resulted in the discovery of one new kimberlite from 11 holes drilled to test nine geophysical targets. Saskatchewan Research Council reported no diamonds from 245 kilograms of kimberlite core submitted for caustic fusion analysis.  Information from the 2012 program has proved to be valuable in prioritizing new targets for evaluation and possible drill testing. The Company is currently conducting detailed geophysical analysis of its extensive regional magnetic database. Based on positive results, additional airborne surveys are warranted.  Plans will be undertaken to conduct field work as financing and weather permit.

The HOAM Project covers a very large, underexplored region of the Northwest Territories. Stream sediment and till sampling have identified areas with extremely positive diamond inclusion field kimberlite indicator minerals (“KIMS”). To date, Olivut has discovered 29 kimberlites within this area. Although some of the kimberlites are microdiamond bearing, none contain diamond inclusion field minerals and the sources for these diamond associated KIMS remain to be discovered. Based on the indicator mineral chemistry, geophysics and drill results, management believes that there is a high probability for discovery of economic kimberlite pipes.

Planning is underway for the next phase of work on the ITAPOTY Diamond Project in Paraguay. It is anticipated that a stream sediment/colluvium sampling program will be undertaken to provide focus for further detailed geophysical surveys to identify possible sources of diamonds and kimberlite indicator minerals recovered from river gravels. To date, 37 macro diamonds between one and two millimetres in size have been found. Diamond distribution and surface features suggest multiple local sources.   Regional geology is permissive for the emplacement of kimberlite diatremes and dykes.

Olivut has the option to earn 50% of the ITAPOTY Diamond Project in accordance with an agreement with Latin American Minerals Inc. (“LAT”) (TSXV:LAT) and certain of its Paraguayan subsidiaries. Olivut is the operator of the project.

Olivut is a diamond exploration company with a 100% mineral interest in over 142,000 acres in the HOAM Project in Canada’s Northwest Territories and the right to acquire a 50% interest in the Paraguay project under its option with Latin American Minerals. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Paul Pitman, P.Geo., and Martin Jackson, MAusIMM, Qualified Persons as defined by National Instrument 43-101, have reviewed the contents of this press release for the HOAM Project and the ITAPOTY Project respectively.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

December 12, 2012 - OLIVUT CLOSES PRIVATE PLACEMENT OF FLOW-THROUGH SHARES FOR GROSS PROCEEDS OF $325,000

OLIVUT CLOSES PRIVATE PLACEMENT OF FLOW-THROUGH SHARES FOR GROSS PROCEEDS OF $325,000

Toronto, December 12, 2012 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to announce that it has closed a non-brokered private placement for aggregate gross proceeds of $325,000 (the “Private Placement”). The Private Placement is comprised of 342,105 flow-through common shares (the “FT Shares”) for proceeds of $325,000 at a price of $0.95 per FT Share. The FT Shares are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until April 13, 2013.

The Company paid a finder’s fee of $3,000, equal to 1% of certain gross proceeds of the Private Placement, to a registered dealer.

Olivut will use the proceeds of the Private Placement primarily to fund exploration of its HOAM project in the Northwest Territories, Canada.

The TSX Venture Exchange approved for listing the common shares issued under the Private Placement on December 11, 2012.

One insider participated in the Private Placement, thereby making the Private Placement a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Ms. Leni Keough, President and Chief Executive Officer and a director of the Company, purchased 26,316 FT Shares and owns or controls 1,986,071 common shares or approximately 5.8% of the total common shares issued and outstanding after completion of the Private Placement (or 3,548,571 common shares representing approximately 9.9% of the issued and outstanding common shares assuming the exercise of convertible securities already owned by Ms. Keough entitling her to acquire 1,562,500 common shares upon conversion).   The Private Placement was unanimously approved by the directors of the Company, with Ms. Keough disclosing her interest and abstaining from voting with respect thereto. The Private Placement was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any common shares issued to or the consideration paid by Ms. Keough exceeded 25% of the Company’s market capitalization.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada’s Northwest Territories and an option agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America. Please visit www.olivut.com for detailed corporate and project information.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipate in such statements.

Leni Keough, P.Geo.,
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

October 17, 2012 - OLIVUT RESOURCES LTD. 2012 DRILLING INTERSECTS KIMBERLITE

OLIVUT RESOURCES LTD. 2012 Drilling Intersects Kimberlite

Toronto, October 17, 2012 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) provides an update on the successful 2012 drilling program for the HOAM Project, Northwest Territories.

The field portion of the 2012 drilling program was completed in September and resulted in a new kimberlite discovery.  Eleven holes were drilled on eight previously untested targets.  Drilling was focused on magnetic anomalies identified by ongoing analyses of detailed airborne magnetic surveys of prospective new target areas.   The discovery hole intersected kimberlite at 32 metres and was stopped in kimberlite at 120 metres. Caustic fusion analysis to determine diamond content will be conducted on 245 kilograms of kimberlite core by Saskatchewan Research Council. The Company will report the results when they become available.

The Company’s success in the HOAM project area has resulted in the discovery of 29 kimberlites to date.  Although some of the kimberlites are microdiamond bearing, they do not contain the extremely positive diamond inclusion field indicator mineral populations (including G10 garnets) that occur in regional stream sediment and till samples. The sources for these indicator minerals remain to be found. Based on the indicator mineral chemistry, geophysics and drill results, management believes that there is a high probability that economic kimberlite pipes will be discovered in the project area. Additional studies are on-going.

Olivut is a diamond exploration company with a 100% mineral interest in over 142,000 acres in the HOAM Project in Canada’s Northwest Territories and an agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Paul Pitman, a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.
|
Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

September 20, 2012 - OLIVUT RESOURCES LTD. PROVIDES SHAREHOLDER UPDATE

OLIVUT RESOURCES LTD. PROVIDES SHAREHOLDER UPDATE

Toronto, September 20, 2012 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) provides comment on announcement made by the head of the Geological and Mineralogical Institute in Novosibirsk, Russia in response to shareholder inquiries.

The Company emphasizes that information provided by Russian scientists indicates the diamond resource, discovered in the 1970s, is for industrial applications. As reported by The Associated Press September 18, 2012, the “impact diamonds” have industrial applications but are of no use to jewelers.

The Company believes that the market for gem diamonds remains robust with solid, long term growth potential. Olivut is continuing to actively pursue its diamond projects in the Northwest Territories, Canada and South America.

Olivut is a diamond exploration company with a 100% mineral interest in over 142,000 acres in the HOAM Project in Canada’s Northwest Territories and an agreement with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events could differ materially from those anticipated in such statements.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

July 18, 2012 - OLIVUT RESOURCES LTD. PROVIDES EXPLORATION UPDATE

OLIVUT RESOURCES LTD. PROVIDES EXPLORATION UPDATE

Toronto, July 18, 2012 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to announce that drilling has commenced on the HOAM Project in the Northwest Territories.

Drilling is being focused on priority magnetic anomalies identified by ongoing analyses of detailed airborne magnetic surveys of prospective target areas.   A light weight drill is being utilized to complete approximately 12 holes on previously untested targets.  Management believes there is a strong likelihood that many of these priority targets have a high probability of being kimberlites. Drilling is anticipated to continue through summer.

The Company has been very successful in identifying kimberlite occurrences within the extensive HOAM project area. To date, 28 kimberlite discoveries have been made in this relatively unexplored region of the NWT. Although some of these occurrences are microdiamond bearing, the sources of the extremely positive kimberlite indicator mineral populations (including G10 garnets) previously recovered from stream sediment and till samples remain to be found.   Based on the indicator mineral chemistry, geophysics and drill results to date, management believes that there is a high probability that economic kimberlite pipes remain to be discovered in the project area.

Olivut is a diamond exploration company with a 100% mineral interest in over 142,000 acres in the HOAM Project in Canada’s Northwest Territories. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Paul Pitman, a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

June 27, 2012 - OLIVUT RESOURCES LTD. GRANTS INCENTIVE STOCK OPTIONS

OLIVUT RESOURCES LTD. GRANTS INCENTIVE STOCK OPTIONS

TORONTO, JUNE 27, 2012 – OLIVUT RESOURCES LTD. (“OLIVUT” OR THE “COMPANY“ - TSX-V:OLV) ANNOUNCES THAT IT HAS GRANTED STOCK OPTIONS TO CERTAIN DIRECTORS, OFFICERS AND CONSULTANTS OF THE COMPANY PURSUANT TO THE COMPANY’S STOCK OPTION PLAN TO PURCHASE UP TO 2,495,000 COMMON SHARES IN THE CAPITAL OF THE COMPANY AT AN EXERCISE PRICE OF $1.40 PER COMMON SHARE.   THE STOCK OPTIONS SHALL EXPIRE ON JUNE 26, 2022.

THE GRANT OF OPTIONS IS SUBJECT TO REGULATORY APPROVAL, INCLUDING APPROVAL OF THE TSX VENTURE EXCHANGE.

OLIVUT IS A DIAMOND EXPLORATION COMPANY WITH A 100% MINERAL INTEREST IN THE HOAM PROJECT IN CANADA’S NORTHWEST TERRITORIES AND AN OPTION AGREEMENT WITH LATIN AMERICAN MINERALS INC. AND CERTAIN OF ITS PARAGUAYAN SUBSIDIARIES TO EXPLORE THE ITAPOTY DIAMOND PROJECT LOCATED IN CENTRAL PARAGUAY, SOUTH AMERICA. PLEASE VISIT WWW.OLIVUT.COM FOR DETAILED CORPORATE AND PROJECT INFORMATION.

LENI KEOUGH, P.GEO.

 

 

 

For further information, please contact:
Leni Keough

President and Chief Executive Officer
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

December 23, 2011 - OLIVUT CLOSES PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND COMMON SHARES FOR GROSS PROCEEDS OF $2,198,800

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES

OLIVUT CLOSES PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND COMMON SHARES FOR GROSS PROCEEDS OF $2,198,800

Toronto, December 22, 2011 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to announce that it has closed its previously announced non-brokered private placement for aggregate gross proceeds of approximately $2,198,800 (the “Private Placement”). The Private Placement comprised placements of (i) 1,079,200 flow-through common shares (the “FT Shares”) for proceeds of $1,349,000 at a price of $1.25 per FT Share (the “FT Placement”), and (ii) 772,545 common shares (the “Common Shares”) for proceeds of approximately $849,800 at a price of $1.10 per Common Share (the “Common Share Placement”). The FT Shares and the Common Shares are subject to resale restrictions pursuant to applicable securities laws requirements and will not be freely tradable until April 23, 2012.

The Company paid a finder’s fee of $3,000, equal to 6% of certain gross proceeds of the FT Placement, to a registered dealer.

Olivut will use the proceeds of the FT Placement primarily to fund exploration of its HOAM project in the Northwest Territories, Canada and proceeds of the Common Shares for costs related to its South American projects and general corporate purposes.

The TSX Venture Exchange approved for listing the common shares issued under the FT Placement and Common Share Placement on December 22, 2011.

A number of insiders participated in the FT Placement, thereby making the Private Placement a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). Mr. Pierre Lassonde, as insider of the Company, purchased 800,000 FT Shares and will own or control 6,025,571 common shares or approximately 17.99% of the total common shares issued and outstanding after the completion of the Private Placement. Ms. Leni Keough, President and Chief Executive Officer and a director of the Company, purchased 80,000 FT Shares and will own or control 1,959,755 common shares or approximately 5.85% of the total common shares issued and outstanding after completion of the Private Placement (or 3,184,755 common shares representing approximately 9.51% of the issued and outstanding common shares assuming the exercise of convertible securities already owned by Ms. Keough entitling her to acquire 1,225,000 common shares upon conversion).   Mr. Ian Shaw, Chief Financial Officer of the Company, purchased 20,000 FT Shares and will own or control 20,000 common shares or approximately 0.06% of the total common shares issued and outstanding after completion of the Private Placement (or 195,000 common shares representing approximately 0.58% of the issued and outstanding common shares assuming the exercise of convertible securities already owned by Mr. Shaw entitling him to acquire 175,000 common shares upon conversion). The Private Placement was unanimously approved by the directors of the Company, with Ms. Keough disclosing her interest and abstaining from voting with respect thereto. The Private Placement was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any common shares issued to or the consideration paid by such persons exceeded 25% of the Company’s market capitalization.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada’s Northwest Territories and option agreements with Orosur Mining Inc., whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses located in northern Uruguay, South America and with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America. Please visit www.olivut.com for detailed corporate and project information.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipate in such statements.

Leni Keough, P.Geo.,
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

December 15, 2011 - OLIVUT MAKES OFFERING OF FLOW-THROUGH SHARES AND COMMON SHARES BY WAY OF PRIVATE PLACEMENT

OLIVUT MAKES OFFERING OF FLOW-THROUGH SHARES AND COMMON SHARES BY WAY OF PRIVATE PLACEMENT

Toronto, December 15, 2011

Proceeds of the placement of FT Shares will be applied to costs related to the Company’s HOAM project in Northwest Territories, Canada and proceeds of the Common Shares for costs related to its South American projects and general corporate purposes.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada’s Northwest Territories and option agreements with Orosur Mining Inc. whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses located in northern Uruguay, South America and with Latin American Minerals Inc. and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Leni Keough,
President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
Telephone: (780) 866-2221

TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.

November 29, 2011 - OLIVUT RESOURCES LTD. PROVIDES UPDATE ON SOUTH AMERICA PROJECTS

OLIVUT RESOURCES LTD. PROVIDES UPDATE ON SOUTH AMERICA PROJECTS

Toronto, November 29, 2011 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to provide an update for the Itapoty and Rivera Diamond Projects, South America.

Highlights include the following:

Itapoty Diamond Project, Paraguay

22 macro diamonds recovered from 14 stream sediment sample
detailed magnetic survey underway
Rivera Diamond Project, Uruguay

6 month extension granted for Phase 1 exploration earn-in expenditure
ground magnetometer survey in progress to prioritize drill targets
ITAPOTY Diamond Project

On July 6, 2011 the Company announced that it had signed an option agreement (“the Option”) with Latin American Minerals Inc. (“LAT”) (TSXV:LAT) and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project area located in central Paraguay, South America.

A sampling program was completed in July, 2011. Sixty-five samples were taken with the majority from heavy mineral trap sites in streams. Fourteen stream sediment samples yielded 22 diamonds ranging in size from 0.5mm to 2.4mm. The largest stone weighs 0.07 carats. The majority of the stones are octahedrons, tetrahexahedrons and fragments and are predominantly colourless, transparent and inclusion free. The sampling was conducted over a previously recognized trend of recovered diamonds. Samples were treated in LAT’s laboratory in Paraguay and the results were confirmed by Olivut’s Sr. Technical Advisor, Dr. Malcolm McCallum.

In late September, a detailed ground magnetic survey commenced and is expected to continue for several more weeks. Additional surveying will be considered upon completion and analysis of this initial survey. A stream sediment/colluvium sampling program will be conducted to constrain the potential source area(s) of the results of the 2011 program and the 37 macro diamonds (1-2mm) and kimberlite indicator minerals recovered from previous LAT sampling programs. The diamond distribution suggests multiple local sources and surface features of most of the diamonds indicate a proximal source. The regional and local structural setting is considered to be favourable for kimberlite pipe emplacement.  A drill program will be planned for the first quarter in 2012 to test targets defined by the geophysical and sampling programs.

Olivut has the option to earn 50% of the Itapoty Diamond Project by expending CDN$250,000 in the first 12 months and an additional CDN$750,000 in the following 18 months. Olivut is the operator of the project.

RIVERA Project

A six month extension has been granted to complete the Phase 1 earn-in expenditure commitment of CDN$750,000.

A detailed ground magnetic survey is in progress over 17 aeromagnetic and geomorphological targets. These survey results together with recently received soil geochemistry data will be used to prioritize drill targets. Land owner agreements have been finalized to allow drilling to commence once prioritization is complete.

The coincidence of abundant kimberlite indicator minerals, including one micro and one macro diamond,   geophysical targets and anomalous soil geochemistry in a structural corridor is considered to be very encouraging. The presence of ultramafic material in one of the 2010 drill holes, supports the probability that kimberlite exists in the project area. No verifiable kimberlites have been discovered to date in the project area which is located on the stable Rio de la Plata craton.  This craton is consistent with cratonic regions in southern Africa within which diamondiferous kimberlites are present.

Olivut is operator for the Rivera Project that is governed by the terms of an Option Agreement with Orosur Mining Inc. (“Orosur” or “OMI”) (TSXV:OMI).

Olivut is a diamond exploration company with a 100% mineral interest in over 144,000 acres in the HOAM Project in Canada’s Northwest Territories and the options as described above with OMI and LAT. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Martin Jackson MAusIMM, a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

September 15, 2011 - Olivut Resources Ltd. Provides Update on Exploration Programs

OLIVUT RESOURCES LTD. PROVIDES UPDATE ON EXPLORATION PROGRAMS

Toronto, September 15, 2011 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to provide an update for its exploration programs.

Highlights include the following:

HOAM Project, NWT
·        3 new kimberlite discoveries from 4 targets drilled
·        detailed airborne magnetic survey completed during summer months
·        numerous additional priority drill targets identified

Itapoty Diamond Project, Paraguay
·         initial data compilation has outlined areas of interest
·         detailed ground geophysical survey to start later this month
·         sampling program to commence later this month

Rivera Project, Uruguay
·         ground magnetometer survey underway to prioritize drill targets
·         geochemical sample program completed, results pending

HOAM Project

The Company’s 2011 HOAM exploration program was focused on drill assessment of several priority magnetic anomalies and on detailed airborne magnetic surveys of prospective target areas.   A light weight drill was used to complete five shallow holes on four targets with specific magnetic signatures. Three of the five holes intersected kimberlite. These new discoveries reinforce management’s view that there is a high likelihood that many of the untested priority targets within the HOAM project area have a high probability of being kimberlites.  Management anticipates a full drilling season in 2012 to test these targets.

The detailed airborne surveys were conducted over 27 target areas. Results provide valuable additional information over existing targets already scheduled for drilling and define numerous new previously unidentified targets. Additional detailed airborne surveying is justified and plans will be undertaken to conduct a program as financing and weather permit.

Soil geochemical sampling also was conducted over limited targets to ascertain if the enzyme leach analysis process will be helpful with prioritization of the numerous targets that are planned for drilling in 2012. Results are pending.

The Company has been very successful in identifying kimberlite occurrences within the extensive HOAM project area. To date, 26 kimberlite discoveries have been made in this relatively unexplored region of the NWT. Although some of these occurrences are microdiamond bearing, the sources of the extremely positive kimberlite indicator mineral populations (including G10 garnets) previously recovered from stream sediment and till samples remain to be found.

Based on extremely positive indicator mineral chemistry, geophysics and drill results to date, management believes that there is a high probability that economic kimberlite pipes remain to be discovered in the project area.

ITAPOTY Diamond Project

On July 6, 2011 the Company announced that it had signed an option agreement (“the Option”) with Latin American Minerals Inc. (“LAT”) (TSXV:LAT) and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project area located in central Paraguay, South America.

Work commenced immediately upon signing the Option. Data has been assimilated and plans are in place to start a detailed ground geophysical survey shortly in specific areas of interest. Additional surveying will be considered upon completion and analysis of the initial geophysical survey. A stream sediment/colluvium sampling program will also be conducted with the aim of providing more precise detail for the source(s) of the numerous diamonds and kimberlite indicator minerals previously retrieved from earlier sampling. A drilling program will be planned for startup during the South American summer months to follow up targets defined by the geophysical and sampling programs. Previous work by LAT recovered 37 macro diamonds (1-2 mm) from the property. Diamond distribution suggests local and multiple sources and surface features of the diamonds indicate proximal sources. Regional and local geology supports emplacement of diatremes and dykes.

Olivut has the option to earn 50% of the Itapoty Diamond Project by incurring CDN$250,000 in expenses related to the property in the first 12 months and an additional CDN$750,000 in the following 18 months. Olivut is the operator of the project.

Paraguay is a mining-friendly county that remains largely underexplored. It depends primarily on agricultural production that comprises the vast majority of the country’s exports. Argentina and Brazil are its main trading partners.

RIVERA Project

Based on the encouraging initial Phase 1 exploration results, a soil geochemical program was completed over 23 magnetic and geomorphological anomalies. A total of 92 samples have been submitted for enzyme leach analysis. Results are pending. A detailed ground geophysical survey is currently underway over 17 targets to assist with drill target prioritization. Permits are in place and land owner agreements have been finalized to allow drilling to commence once prioritization is complete.

The coincidence of anomalous stream sediment samples, geophysical targets, favourable structures and the presence of ultramafic material intersected in one of the 2010 shallow drill holes, all support the probability that kimberlite, though currently undiscovered, exists in the project area.  Surface features of most of the recovered pyrope garnets to date indicate a probable proximal source.  The stable Rio de la Plata craton of Uruguay is consistent with cratonic regions in southern Africa which provides a high degree of encouragement that diamondiferous kimberlite bodies may be present in the region.

Olivut is operator for the Rivera Project which is governed by the terms of an Option Agreement with Orosur Mining Inc. (“Orosur” or “OMI”) (TSXV: OMI). The joint venture earn-in structure was established in order for Olivut to evaluate the potential for kimberlites in this relatively unexplored region without exposing shareholders to high front end costs.  An additional CDN$332,204 must be spent by the Company by December 31, 2011 in order for Olivut to earn 51% of the project.

Olivut is a diamond exploration company with a 100% mineral interest in over 144,000 acres in the HOAM Project in Canada’s Northwest Territories and the options as described above with OMI and LAT. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Martin Jackson MAusIMM, a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geo.
President and Chief Executive Officer


For further information, please contact:

Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

July 6, 2011 - Olivut Resources Ltd. Announces Signing of a Definitive Option Agreement to Explore Diamond Properties in Paraguay, South America

OLIVUT RESOURCES LTD. ANNOUNCES SIGNING OF A DEFINITIVE OPTION AGREEMENT TO EXPLORE DIAMOND PROPERTIES IN PARAGUAY, SOUTH AMERICA

Toronto, July 6, 2011 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to announce that it has signed a definitive Option Agreement (“the Definitive Agreement”) dated July 5, 2011 with Latin American Minerals Inc. (“LAT”) (TSXV:LAT) and certain of its Paraguayan subsidiaries to explore the Itapoty Diamond Project located in central Paraguay, South America.

Pursuant to the terms of the Definitive Agreement, Olivut has the option to earn 50% of the Itapoty Diamond Project by incurring CDN$250,000 in expenses related to the property in the first 12 months and an additional CDN$750,000 in the following 18 months. Olivut will be the operator of the project. Work will begin immediately to evaluate the potential of the Itapoty Diamond Project.

Highlights of the Itapoty Diamond Project include:
·        Stream and rock sample results have yielded numerous kimberlite
         indicator minerals
·        37 diamonds have been recovered from the property by LAT
·        Diamond distribution suggests local and multiple sources
·        Diamonds found in coarse fraction (1-2 mm)
·        Surface features of diamonds indicate proximal sources
·        Regional and local geology supports emplacement of diatremes and
         dykes

The Company is very pleased to be working on this new opportunity as it complements Olivut’s existing portfolio of diamond exploration properties in the NWT, Canada and Uruguay, South America. Paraguay is a mining-friendly county that remains largely underexplored. It depends primarily on agricultural production that comprises the vast majority of the country’s exports. Argentina and Brazil are its main trading partners.

Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Martin Jackson MAusIMM, a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geo.
President and Chief Executive Officer


For further information, please contact:
Leni Keough

President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

March 11, 2011 - Olivut Resources Ltd. Grants Incentive Stock Options

OLIVUT RESOURCES LTD. GRANTS INCENTIVE STOCK OPTIONS

Toronto, Ontario March 10, 2011 – Olivut Resources Ltd. (“Olivut” or the “Company“) (TSXV:OLV) announces that it has granted stock options to a Consultant of the Company pursuant to the Company’s stock option plan to purchase up to 50,000 common shares in the capital of the Company at an exercise price of $1.70 per common share.   The stock options shall expire on March 10, 2016.

The grant of options is subject to regulatory approval, including approval of the TSX Venture Exchange.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada’s Northwest Territories.  The Company also has an Option Agreement with Orosur Mining Inc. (TSXV:OMI) whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses located in northern Uruguay, South America.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Leni Keough
President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
Telephone: (780) 866-2221

TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.

February 23, 2011 - Olivut Resources Ltd. Corporate Update

OLIVUT RESOURCES LTD. CORPORATE UPDATE

Toronto, February 23, 2011 - Olivut Resources Ltd. ("Olivut" or the "Company") (TSXV:OLV) reports that there is no material information or change in operations to account for current stock market activity.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada's Northwest Territories.  The Company also has an Option Agreement with Orosur Mining Inc. (TSXV:OMI) whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses located in northern Uruguay, South America.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements.  Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Leni Kough
President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
Telephone: (780) 866-2221

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.

February 16, 2011 - Olivut Resources Ltd. Announces Intention to Explore Diamond Properties in Paraguay, South America

OLIVUT RESOURCES LTD. ANNOUNCES INTENTION TO EXPLORE DIAMOND PROPERTIES IN PARAGUAY, SOUTH AMERICA

Toronto, February 16, 2011 – Olivut Resources Ltd. (“Olivut” or the “Company”) (TSXV:OLV) is pleased to announce that it has signed a non-binding Letter of Intent (“LOI”) dated February 15, 2011 with Latin American Minerals Inc. (“LAT”) (TSXV:LAT) to explore the Itapoty Diamond Project located in central Paraguay, South America.

The Company is very pleased to be working on this new opportunity as it complements Olivut’s existing portfolio of diamond exploration properties in Canada and Uruguay, South America. The Company will be able to utilize its team located in Montevideo, Uruguay to evaluate the potential of the Itapoty Diamond Property.

Highlights of the Itapoty Diamond Project include:
·        Stream and rock sample results have yielded numerous Kimberlite
         Indicator  Minerals (KIMs)
·        37 diamonds have been recovered from the property by LAT
·        Diamond distribution suggests local and multiple sources
·        Diamonds found in coarse fraction (1-2 mm)
·        Surface features of diamonds indicate proximal sources
·        Regional and local geology supports emplacement of diatremes and dykes

Pursuant to the LOI, the Company and LAT have agreed to negotiate a binding agreement (the “Definitive Agreement”) with respect to the Itapoty Diamond Project, anticipated to be finalized no later than March 31, 2011, and if executed, it is anticipated that work will begin immediately on the Itapoty Diamond Project. Pursuant to the LOI terms, the Definitive Agreement would provide Olivut with an option to earn 50% of the project by incurring CDN$250,000 in expenses related to the property in the first 12 months and an additional CDN$750,000 in the following 18 months. Olivut would be the operator of the project.  As the LOI is non-binding and is subject to further negotiations, there is no assurance that a Definitive Agreement will be entered into on these terms or at all.

Paraguay remains largely underexplored. It depends for the most part on agriculture production which comprises the vast majority of the country’s exports. Argentina and Brazil are its main trading partners.

Rivera Project Update

An early 2011 exploration program is scheduled for the Rivera Diamond Project in Uruguay. Olivut is operator for the Rivera project, a joint venture with Orosur Mining Inc. (“Orosur”) (TSXV:OMI). The Company has an option to earn 51% in the project by incurring a total of CDN$750,000 by December 31, 2011. The August 1, 2010 CDN$250,000 earn-in expenditure commitment has been met. Encouraging results from the 2010 pit and stream sampling program as well as the shallow, reverse-circulation drill program, justifies further work. Geophysical analysis conducted over the past several months, combined with very positive indicator mineral chemistry from an unknown source and local geomorphology, has resulted in numerous new drill targets being delineated.

Negotiations have been undertaken to allow access to test these anomalies. Landowner agreements are being finalized, as is the government permitting process, to enable drilling on the priority targets.

HOAM Project Update

The Company’s third area of focus, the HOAM Project, will have a full field season of work conducted during 2011. A drill program is being planned to test targets. The Company is very pleased that reinterpretation and analysis of its geophysical data, as well as additional detailed geophysical work, has resulted in numerous new priority targets. Analysis is ongoing. The source of the Company’s very positive indicator mineral chemistry, which includes a high percentage of diamond stability field indicator minerals, remains to be found. Additional airborne magnetic surveys and geochemical surveys may also be undertaken. Olivut has discovered 23 kimberlites in this new kimberlite province in Canada.

The Company had approximately $2.9 million in working capital at October 31, 2010.

Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada’s Northwest Territories and the option as described above with Orosur. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Without limitation, the terms and conditions of the prospective transaction for the Itapoty Diamond Project may change, or such transaction may not occur at all, based on the Company's due diligence on the properties and the negotiation of the binding Definitive Agreement.

Martin Jackson MAusIMM, a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

November 17, 2010 - Olivut Resources - No Material Information or Change in Operations

OLIVUT RESOURCES LTD. CORPORATE UPDATE

Toronto, November 17, 2010 – Olivut Resources Ltd. (“Olivut” or the “Company” - TSX-V:OLV) reports that there is no material information or change in operations to account for current stock market activity.

Olivut is a diamond exploration company with a 100% mineral interest in over 1,600,000 acres in the HOAM Project in Canada’s Northwest Territories.  The Company also has an Option Agreement with Orosur Mining Inc. whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses located in northern Uruguay, South America.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Leni Keough,
President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
Telephone: (780) 866-2221


(TSX Venture Exchange has neither approved nor disapproved the contents of this Press Release.)

August 11, 2010 - Olivut Resources Ltd. Provides Update on Exploration Programs

OLIVUT RESOURCES LTD. PROVIDES UPDATE ON EXPLORATION PROGRAMS

Toronto, August 11, 2010 – Olivut Resources Ltd. (“Olivut” or the “Company”—TSX-V:OLV) is pleased to provide an update for its exploration programs.

Highlights include the following:

Rivera Project, Uruguay
·         JV earn-in commitment met
·         positive sample program results
·         encouraging drill program results

HOAM Project, NWT
·         geophysical interpretation of airborne magnetic data successful in
          delineating additional drill targets
·         continuation of 2010 exploration program  underway

The Company had a successful initial exploration program on the Rivera Project in Uruguay. Expenditures in excess of $CDN 250,000 have been made to meet the August 1, 2010 earn-in commitment deadline.  Olivut plans to continue exploration during 2010 based on the positive results received to date.

Phase 1 exploration work included stream and pit sampling at both regional and local scales. Positive kimberlite indicator minerals (“KIMs”) including diamond were recovered.  Surface features of most of the recovered pyrope garnets indicate a probable proximal source. An early stage drill program was undertaken to test several geomorphological targets. Shallow reverse circulation (“RC”) holes (<110 metres) were drilled into four targets. Intensely serpentinized, ultramafic material was intersected within sandstone in one of the targets.  A geophysical interpretation of airborne and ground magnetic data has now been completed and numerous additional targets have been established for further investigation.

The Company is extremely encouraged by the coincidence of anomalous stream sediment samples, geophysical targets, favourable structures and the presence of ultramafic material, all of which support the presence of kimberlite in the project area. Management is pleased with the amount of positive information obtained from this early stage investigation and that the initial results justify continued work. Planning is underway for further exploration which can be carried out on a year round basis in Uruguay.  The stable Rio de la Plata craton of Uruguay is consistent with cratonic regions in southern Africa which provides a high degree of encouragement that diamondiferous kimberlite bodies may be present in the region.

The joint venture earn-in structure was established in order for Olivut to evaluate the potential for kimberlites in this relatively unexplored region without exposing shareholders to high front end costs.  Olivut is operator for the Rivera project, a joint venture with Orosur Mining Inc. (“Orosur” or “OMI” – TSX-V: OMI).   An additional CDN$500,000 must be spent by the Company by December 31, 2011 in order for Olivut to earn 51% of the project.

On the HOAM Project, the 2010 exploration program was initiated with an interpretation of airborne magnetic data conducted by an independent expert. The objective was to assess the possibility of identifying new areas of potential kimberlite occurrences that may have been overlooked by initial assessments. The Company has been very successful in identifying kimberlite occurrences in this previously unexplored area of the NWT. Twenty-three kimberlite discoveries have been made to date.  Although some of these are microdiamond bearing, the sources of the extremely positive, yet discrete, KIM populations (including G10 garnets), recovered from stream sediment and till samples collected throughout this large project area, remain to be found. The Company is pleased that this independent geophysical evaluation has resulted in numerous additional targets located up-ice from the areas of anomalous KIMs.  Consequently, a program is being planned to further evaluate many of the high priority target areas. This work may include additional detailed airborne geophysical surveys and drilling during the 2010 season.

The Company had approximately $3.5 million in working capital at April 30, 2010.

Olivut is a diamond exploration company with a 100% mineral interest in over 1,500,000 acres in the HOAM Project in Canada’s Northwest Territories and the option as described above with OMI. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements.  All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Martin Jackson MAusIMM, a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.


Leni Keough, P.Geo.
President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Office
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

April 20, 2010 - Olivut Resources Ltd. Grants Incentive Stock Options

OLIVUT RESOURCES LTD. GRANTS INCENTIVE STOCK OPTIONS

Toronto, Ontario April 20, 2010 – Olivut Resources Ltd. (“Olivut” or the “Company“ - TSX-V:OLV) announces that it has granted stock options to a Consultant of the Company pursuant to the Company’s stock option plan to purchase up to 35,000 common shares in the capital of the Company at an exercise price of $0.30 per common share.   The stock options shall expire on April 19, 2015.

The grant of options is subject to regulatory approval, including approval of the TSX Venture Exchange.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories. The Company also has an Option Agreement with Orosur Mining Inc. whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses located in northern Uruguay, South America.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.


Leni Keough,
President and Chief Executive Officer


For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
Telephone: (780) 866-2221

TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.

January 13, 2010 - Olivut Resources Ltd. Provides Update on Exploration Programs

Toronto, January 13, 2010 – Olivut Resources Ltd. (“Olivut” or the “Company”—TSX-V:OLV) is pleased to provide an update for its exploration programs.

Highlights to date include the following:
·         a total of 23 kimberlite discoveries to date on the HOAM project
·         18 holes drilled in 2009, 10 intersected kimberlite
·         discovery of 5 new kimberlite occurrences
·         caustic fusion returned limited number of microdiamonds
·         drilled targets apparently not source of diamond stability field indicator
          minerals; expanded program being designed to establish and test other
          anomalies
·         Uruguay exploration program underway
·         well financed to conduct ongoing exploration

The Company had a very successful 2009 drill season on the HOAM project despite cutbacks to preserve capital during unsettled market conditions.  Drill targets were restricted to an area of limited dimensions to maximize cost effectiveness. A total of 13 targets were tested by 18 drill holes resulting in the discovery of five new kimberlite occurrences. Both kimberlite dyke and diatreme bodies were intersected and 236 kg of kimberlite submitted for caustic fusion returned two microdiamonds from one of the new occurrences.  Examination of drill core material and caustic fusion residues indicates that none of the discoveries are the source of the extremely positive indicator mineral populations that have been obtained from stream and till samples collected by the Company. Indicator mineral results vary within the areas covered by regional and local sampling. The Company believes that a number of up-ice proximal targets may be the source for at least some of these very positive indicators.

The 2009 exploration program was designed specifically to drill untested targets that were identified in previous seasons by airborne magnetic and helimag geophysical surveys.  Many geophysical targets remain to be tested and it is anticipated that additional targets will be generated through a re-evaluation of existing geophysical data. Since all previously drilled kimberlite occurrences have only minor microdiamond content, methods to locate other anomalies that may reflect diamond bearing targets and the source for the Company’s positive indicator minerals are being evaluated. Appropriate targets will be tested during the 2010 field season.

The Company completed the 2009 HOAM field season with approximately $4.3 million in working capital at year end October 31, 2009.

In December 2009 diamond exploration began in Uruguay, South America.  Olivut is operator for the exploration program and is anticipating a productive season in this relatively unexplored region. A combination of geophysical and geomorphological targets, along with excellent geochemistry, provides the focus for the initial exploration program that includes sampling, geophysics and drilling. The stable craton of Uruguay is consistent with that of southern Africa and provides a high degree of encouragement that diamondiferous kimberlite bodies could occur in the region.

As reported on May 26, 2009, the Company signed an Option Agreement with Uruguay Mineral Exploration Inc., which announced a name change on January 7, 2010 to Orosur Mining Inc. (“Orosur” or “OSI” – TSX-V: OSI) whereby Olivut may earn up to an 80% interest in diamond prospecting and exploration licenses (the “Properties”) located in northern Uruguay, South America. These Properties are held by Cinco Rios S.A., a wholly owned subsidiary of Orosur. Olivut must incur a minimum expenditure of $CDN250,000 by June 1, 2010 and a total of $CDN750,000 by December 31, 2011 in order to acquire a 51% interest in the Properties.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories and the option as described above with OSI. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Dale Mah (P.Geol.), a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geol.

President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

December 9, 2009 – Olivut Resources Ltd. (“Olivut” or the “Company“ - TSX-V:OLV) announces that it has granted stock options to certain Directors, Officers and Consultants of the Company pursuant to the Company’s stock option plan to purchase

OLIVUT RESOURCES LTD. GRANTS INCENTIVE STOCK OPTIONS

Toronto, December 9, 2009 – Olivut Resources Ltd. (“Olivut” or the “Company“ - TSX-V:OLV) announces that it has granted stock options to certain Directors, Officers and Consultants of the Company pursuant to the Company’s stock option plan to purchase up to 640,000 common shares in the capital of the Company at an exercise price of $0.165 per common share.   The stock options shall expire on December 9, 2014.

The grant of options is subject to regulatory approval, including approval of the TSX Venture Exchange.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories. The Company also has an Option Agreement with Uruguay Mineral Exploration Inc. whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses located in northern Uruguay, South America.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Leni Keough

President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
Telephone: (780) 866-2221

TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.

October 27, 2009 - Olivut Resources Ltd. (“Olivut” or the “Company”—TSX-V:OLV) is pleased to provide an update for the recently completed 2009 HOAM field exploration program.

OLIVUT RESOURCES LTD. PROVIDES UPDATE ON 2009 HOAM EXPLORATION PROGRAM

Toronto, October 27, 2009 – Olivut Resources Ltd. (“Olivut” or the “Company”—TSX-V:OLV) is pleased to provide an update for the recently completed 2009 HOAM field exploration program.

Highlights of the 2009 drilling program include the following:
·         5 new kimberlite discoveries
·         18 holes drilled
·         10 holes intersected kimberlite
·         240.1 kg kimberlite submitted for caustic fusion
·         program completed on schedule
·         well financed to conduct ongoing exploration

The Company was very pleased with the amount of work accomplished and results obtained during an abbreviated season in which 10 holes were planned and 18 holes were actually drilled.

The 2009 exploration program was designed specifically to drill untested targets that were identified in previous seasons by airborne magnetic and helimag geophysical surveys. In addition, several holes were completed as a pilot test into anomalies defined by a structural analysis study. Two holes were drilled into a previously identified, relatively large (~2-3 ha) kimberlite to assess the potential of multiple phases. Both diatreme and/or hypabyssal kimberlites have been identified in the new discoveries and representative samples have been submitted for caustic fusion analysis.

Many targets remain to be tested. Interpretation of regional airborne and helimag surveys, previous heavy mineral sampling programs, and drilling results is being carried out in an effort to assess different types of anomalies that may reflect diamond bearing targets Results of these studies will be utilized in the Company’s 2010 field program.

Concurrently, Olivut is ramping up for exploration in Uruguay during Canada’s winter. As reported on May 26, 2009, the Company signed an Option Agreement with Uruguay Mineral Exploration Inc. (“Uruguay Minerals” or “UME” – TSX-V: UME and LSE: UGY) whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses (the “Properties”) located in northern Uruguay, South America. These Properties are held by Cinco Rios S.A., a wholly owned subsidiary of UME. Olivut must incur a minimum expenditure of $CDN250,000 by June 1, 2010 and a total of $CDN750,000 by December 31, 2011 in order to acquire a 51% interest in the Properties. Olivut will act as operator for the exploration program.

The stable craton of Uruguay is consistent with that of southern Africa. A combination of excellent geochemistry and geophysical targets will provide the focus of initial exploration efforts that are planned to include sampling, geophysics and drilling.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories and its UME option. Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Dale Mah (P.Geol.), a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geol.
President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

May 26, 2009 Olivut Resources Ltd. announces signing of Option Agreement with Uruguay Minerals Inc.

Olivut Resources Ltd. announces signing of option agreement with Uruguay Mineral Exploration Inc.

Toronto, Ontario May 26, 2009 – Olivut Resources Ltd. (“Olivut” or the “Company”-- TSX-V: OLV) is pleased to announce that it has signed an Option Agreement with Uruguay Mineral Exploration Inc. (“Uruguay Minerals” or “UME” – TSX-V: UME and LSE: UGY) whereby Olivut may earn up to 80% interest in diamond prospecting and exploration licenses (the “Properties”) located in northern Uruguay, South America. These Properties are held by Cinco Rios S.A., a wholly owned subsidiary of UME.  Olivut must incur a minimum expenditure of $CDN250,000 by June 1, 2010 and a total of $CDN750,000 by December 31, 2011 in order to acquire a 51% interest in the Properties. Olivut will act as operator for the exploration program.

Uruguay is an agriculture based society and relatively little exploration has been conducted in the region.  A combination of excellent geochemistry and geophysical targets will provide the focus of initial exploration efforts that are planned to include sampling, geophysics and drilling. Management looks forward to developing the diamond potential of this area and is anticipating a productive initial season.  The stable craton of Uruguay is consistent with that of southern Africa. UME is focused on gold exploration and welcomes the opportunity to have a partner with extensive diamond expertise work on these targets.  Furthermore, the partnership will benefit from having an Olivut director who is a resident of the country.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

Uruguay Minerals, incorporated in Canada, is a gold producer and exploration company focused on identifying and developing mineral opportunities in Latin America. The Company operates the only producing gold mine in Uruguay (San Gregorio Mine).  UME also is the leading mineral exploration company in the country and has assembled an exploration portfolio based on gold, base metals and diamond prospects.  Please visit www.uruguayminerals.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

For further information, please contact:

Olivut Resources Ltd.
Leni Keough, P.Geol.

President and Chief Executive Officer
(780) 866-2226

Uruguay Mineral Exploration Inc.
Tony Shearer, Chairman
+44 (0)20 7602 1570
or
David Fowler, CEO         
+ 598 2 6016354
or
Investor Relations in North America
Susan Borinelli, Breakstone Group
+1 646-330-5907

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

March 17, 2009 Olivut Resources Ltd. Extends Warrant Expiry Date

Toronto, March 17, 2009 – Olivut Resources Ltd. (“Olivut” or the “Company”-- TSX-V: OLV) announces that, subject to regulatory approval, the Company will extend the expiry date of 2,300,000 common share purchase warrants (the “Warrants”) scheduled to expire on May 14, 2009 for a period of two years.

The Warrants were issued pursuant to a private placement completed by the Company on May 14, 2007 for gross proceeds of $8,050,000. All Warrants issued pursuant to the private placement remain unexercised. Company insiders hold 363,142 of the Warrants. Each Warrant provides the holder thereof with the right to purchase one common share of the Company at an exercise price of $2.00 and will expire, subject to regulatory approval, on May 14, 2011.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Leni Keough, P.Geol.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

February 26, 2009 Olivut Resources Ltd. Provides Update and Plans 2009 Exploration Program

Toronto, February 26, 2009 – Olivut Resources Ltd. (“Olivut” or the “Company”-- TSX-V: OLV) announced today that results have been received for samples submitted for analysis and planning is underway for the 2009 season.

Highlights of the 2008 Program include the following:
·         8 new kimberlite bodies discovered
·         351.4 kgs of kimberlite core submitted for fusion
·         15  separate bodies drilled
·         minor microdiamond recovery
·         additional high priority targets defined for future drilling
·         program completed on time and under budget
·         well financed to conduct ongoing exploration

The 2008 field program included airborne geophysics, gravity and diamond drilling.  Twenty-three holes were drilled into 15 targets, 13 of which were previously untested. The 2008 drill targets were selected based upon maximizing favourable logistics and cost effectiveness.  Many priority targets remain untested and will be drilled in following programs.

Both diatreme and dyke bodies that appear to have volume potential were tested and holes were drilled at different angles in several targets to assess the probability of multiple kimberlite phases. A petrographic evaluation of core material conducted by HDM Laboratories in Loveland, Colorado (“HDM”) indicates that the kimberlite bodies drilled are not the source of the extremely positive indicator mineral populations recovered from previous regional sampling programs in the district.   Management is encouraged by the confirmation of additional kimberlites in this relatively new province identified by the Company in its first season (2007), and looks forward to future testing of the many undrilled priority targets in the area. Material totaling 351.4 kg representing approximately 208 metres of core, from 16 holes in 10 targets, was analyzed by Saskatchewan Research Council (“SRC”) for microdiamonds.  Two microdiamonds were recovered from two separate bodies in close proximity that combined exceed 5 ha.  Further drilling is warranted to ascertain if more favourable phases may be present in these bodies as well as other larger targets.

A 2009 drill program is being planned to continue evaluation of this kimberlite province.  Interpretation of the regional airborne and helimag surveys, previous heavy mineral sampling programs, and drilling results is ongoing to help establish a comprehensive understanding of the region encompassed by this large project area, for which only limited geological data are available.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Dale Mah (P.Geol.), a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough, P.Geol.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

December 19, 2008 Olivut Resources Ltd. Announces Year End Financial Results

Olivut Resources Ltd. ANNOUNCES YEAR END FINANCIAL RESULTS.

Toronto, December 19, 2008 - Olivut Resources Ltd. (“Olivut” or the “Company”-- TSX-V: OLV) announces that the year end audited consolidated financial statements for the year ended October 31, 2008 have been filed. At October 31, 2008 the Company had cash in the bank totalling $6.0 million and working capital of $5.8 million. The financial statements may be viewed on SEDAR at www.sedar.com or at the Company’s website at www.olivut.com. We invite interested parties to visit those sites for additional corporate and project information.

On the basis of the Company’s current cash position, management of the Company believes that it has sufficient funds to complete a 2009 exploration program, pay its ongoing administrative expenses and to meet its existing liabilities until the next fiscal year end, October 31, 2009. In the current global economic and liquidity crisis, management will carefully monitor its cash balances over the course of the next 12 to 24 months and may postpone material exploration expenses if the liquidity crisis does not improve, so as to protect the Company’s working capital.  As at October 31, 2008, the Company did not have any long-term debt, contractual liabilities or obligations other than as reported in the audited year end consolidated financial statements. 

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the prospective HOAM Project in Canada’s Northwest Territories.  On November 7, 2008 the Company announced the successful completion of the 2008 drilling program (the “Program”).

Highlights of the Program include the following:

Successful completion of the planned 2008 regional airborne, gravity and drilling programs8 new kimberlite bodies discovered23 drill holes completed16 drill holes intersected kimberlite15 targets tested including 13 new targets identified during the yearIncreased the number of known kimberlite bodies discovered from 10 to 18

The 2008 regional airborne program successfully delineated numerous new targets that will require a follow-up helimag program to establish drill prioritization.  In addition, untested priority helimag targets identified during the 2007 program are scheduled to be drilled during the next field season.  Kimberlite recovered during the 2008 program has been sent to SRC for microdiamond recovery and results will be reported as they become available.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.


Leni Keough, P.Geol.
President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Nov.7, 2008 Olivut Resources successfully completes the 2008 drilling and exploration program for the HOAM Project, NWT

Toronto, November 7, 2008 – Olivut Resources Ltd. (“Olivut” or the “Company”-- TSX-V: OLV) is pleased to announce the successful completion of the 2008 drilling program.  Kimberlite has been shipped to the Saskatchewan Research Council (“SRC”) for caustic fusion analysis.

Highlights of the 2008 program include the following:
Successful completion of the planned 2008 regional airborne, gravity and drilling programs
8 new kimberlite bodies discovered
23 drill holes completed
16 holes intersected  kimberlite
15 targets tested including 13 new targets
Increased the number of known kimberlite bodies discovered from 10 to 18
The 2008 regional airborne program successfully delineated numerous new targets that will require a follow-up helimag program in 2009 to establish drill prioritization.  In addition, untested priority helimag targets identified during the 2007 program are scheduled to be drilled during the next field season.

The 2008 drilling program successfully achieved the goal to complete at least 20 holes, weather and logistics permitting.  The focus of the drilling was on untested targets; two holes were drilled into previously identified kimberlite bodies intersected in 2007 in order to provide more information about those targets. The 2008 drilling supports the 2007 results indicating that the targets include both diatreme and dyke phases with volume potential.  Some of the other known kimberlite bodies also host multiple phases and additional drilling of these is warranted to ensure that they are properly evaluated.  The recovery of microdiamonds from the 2007 drill program is significant in that it proves that the mantle source being tapped is diamondiferous. Kimberlite recovered during the 2008 program has been sent to SRC for microdiamond recovery and results will be reported as they become available.

The Company at July 31, 2008 had working capital of $6.6M.  Olivut is well financed to continue through the next fiscal year.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Mr. Dale Mah, P.Geol., is Olivut's qualified person as defined in National Instrument 43-101 for its exploration programs and has reviewed the technical information included in this press release. Mr. Mah is an employee of Olivut and is not considered independent of the Company. 

Leni Keough, P.Geol.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

August 25, 2008 Olivut Resources Ltd. Update On The 2008 Drilling And Exploration Program For The HOAM Project, NWT

OLIVUT RESOURCES LTD. UPDATE ON THE 2008 DRILLING AND EXPLORATION PROGRAM FOR THE HOAM PROJECT, NWT

Toronto, August 25, 2008 – Olivut Resources Ltd. (“Olivut” or the “Company”-- TSX-V: OLV) is pleased to provide an update of the $4.9 Million 2008 Exploration Program (the “Program”) on the HOAM project.   This follows our successful 2007 $2.7 Million program that resulted in the discovery of seven new kimberlite bodies within a new kimberlite province in Canada during Olivut’s first exploration season.  As well, microdiamonds were recovered indicating that the mantle in this area is diamondiferous.
Progress on the 2008 program includes the following:

§         Successful completion of the planned 2008 regional airborne and gravity
           programs
§         Successful commencement of the drill program
§         11 drill holes into 6 targets
§         Kimberlite intersected in 6 holes of 9 drilled into bedrock

The 2008 exploration program was designed to conduct gravity, regional airborne magnetic and helimag surveys and diamond drilling.  Completion of a spring gravity survey has provided additional information for previously prioritized targets that has been useful for the 2008 drilling program.  The regional airborne program was successful in delineating numerous new targets that will be further defined by a helimag survey scheduled to be conducted this fall.
2008 Drilling has accomplished the following:

§        11 holes have been drilled into 6 targets, 5 of which have not been
          previously drilled
§         Kimberlite has been intersected in 6 of the 9 holes that successfully
          penetrated bedrock

The intent of the drill program is to complete at least 20 holes, weather and logistics permitting.  The additional holes to be drilled this season will focus on previously untested targets, although possible drilling of kimberlites intersected in 2007 may be undertaken. Previously drilled targets include both diatreme and dyke bodies that appear to have volume potential.  Given the inferred size of the targets from their respective geophysical signatures, the known kimberlite bodies are considered to have the potential to host multiple phases. As the new discoveries were penetrated only by single drill holes, additional holes should be drilled into them to ensure that the targets are properly evaluated.  The recovery of microdiamonds from the 2007 drill program is significant in that it proves that the mantle source being tapped is diamondiferous and supports the work program planned for 2008.  Kimberlite recovered during the 2008 program will be sent to the Saskatchewan Research Counsel (“SRC”) for microdiamond recovery and results will be reported as they become available.

The Company at April 30, 2008 has working capital of $7.8M and is well financed to carry out the 2008 Exploration Program.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Mr. Dale Mah, P.Geol., is Olivut's qualified person as defined in National Instrument 43-101 for its exploration programs and has reviewed the technical information included in this press release. Mr. Mah is an employee of Olivut and is not considered independent of the Company.
Leni Keough, P.Geol.
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

April 7, 2008 Olivut Resources Ltd. Announces 2008 Drilling and Exploration Program For The HOAM Project, NWT

Olivut Resources Ltd. ANNOUNCES 2008 DRILLING AND EXPLORATION PROGRAM FOR THE HOAM Project, NWT

Toronto, April 7, 2008 – Olivut Resources Ltd. (“Olivut” or the “Company”-- TSX-V: OLV) is pleased to announce start-up of the $4.9 Million 2008 Exploration Program (the “Program”) on the HOAM project.

The Company is anticipating an exciting 2008 exploration year, given the following combination of very encouraging results from 2007:

  • discovery of seven new kimberlite bodies within a new kimberlite province in Canada during Olivut’s first exploration season
  • recovery of microdiamonds indicating that the mantle in this area is diamondiferous
  • many additional untested drill targets
  • relatively large size of geophysical targets
  • very encouraging indicator mineral chemistry in the HOAM project area

The $4.9M 2008 Program will include extensive drilling as well as airborne magnetic, helimag and gravity geophysical surveys.  The intent of the drill program is to complete 20–25 holes.  These holes will be drilled into a combination of previously untested targets as well as additional drilling of the newly discovered kimberlites intersected in 2007.  These previously drilled targets include both diatreme and dyke bodies that appear to have volume potential.  One diatreme model target is in excess of 3 ha (>7 acres) and another occurrence exceeds 10 ha (>25 acres).  Given the inferred size of the targets from their respective geophysical signatures, each of the kimberlite bodies that was intersected in 2007 is considered to have the potential to host multiple phases. As the seven new discoveries were penetrated only by single drill holes, they must have additional holes drilled into them to ensure that the targets are properly evaluated. The majority of the holes planned for 2008 will be drilled into untested targets.  Saskatchewan Research Counsel (“SRC”) caustic fusion results from the 2007 drill program, returned three microdiamonds from two of the seven holes sampled.  This is significant in that it proves that the mantle source being tapped is diamondiferous and supports the work program outlined above.  The largest stone was recovered from the 0.15 mm sieve.  The two smaller diamonds were colorless, clear fragments and the largest is a colorless, clear octahedron.

The 2008 Program will commence in April with a gravity survey over several priority targets to provide additional information on the size and nature of the intrusive bodies.  In-fill regional airborne magnetics as well as detailed helimag for target delineation will follow as the season progresses.  Drilling is expected to commence in June and continue through September.

The Company at January 31, 2008 has working capital of $8.2M and is well financed to carry out the 2008 Exploration Program.
Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Mr. Dale Mah, P. Geol., is Olivut's qualified person as defined in National Instrument 43-101 for its exploration programs and has supervised the preparation of the technical information included in this press release. Mr. Mah is an employee of Olivut and is not considered independent of the Company.

Leni Keough
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Jan. 23, 2008 Olivut Resources Ltd. Announces Changes To The Board Of Directors And Grant Of Stock Options

Toronto, January 23, 2008 – Olivut Resources Ltd. (“Olivut” or the “Company”-- TSX-V: OLV) is pleased to announce the addition of Dr. Leon R. Daniels to the Board of Directors of the Corporation, subject to TSX-V approval.

Dr. Daniels has extensive diamond exploration and production experience spanning more than 30 years from 1976 to the present.  Early in his career, he discovered the diamondiferous Klipfontein kimberlite pipe in South Africa.  He worked for Falconbridge Exploration Botswana evaluating the 180 hectare (445 acres) crater facies M1 Kimberlite and conducted exploration which led to the discovery of at least three kimberlite fields in the Kalahari Dessert where he monitored exploration and bulk sampling drilling programs.  While working as part of the management team with the Trans Hex Group in Swaziland, he oversaw the evaluation and development of the Dokolwayo Diamond Mines.  Dr. Daniels has experience working in the active war zones of Angola where he was the Chief Geologist for Roan Selection Trust International, overseeing production of five alluvial mines including among other responsibilities, grade control and predictions, production and mining reconciliations, planning and supervision, river diversions and monitoring diamond population distribution.

Dr. Daniels also has worked on the Koidu kimberlites located in Sierra Leone, the Fort a la Corne kimberlites in Canada, the evaluation and development of the River Ranch kimberlite and the discovery and bulk sampling of a 5 hectare kimberlite diatreme and kimberlite dykes all in Zimbabwe.  Furthermore, he has been involved in diamond exploration and bulk sampling of kimberlites in Russia, evaluation of alluvial diamond deposits in South Africa, and exploration and development of properties in the Congo, Finland, the Kingdom of Lesotho, Australia, Zambia, Guinea, Mali and Sao Tome.  In addition, his experience includes marketing, valuating, processing, negotiating and liaising with surface rights owners and Black Economic Empowerment partners in South Africa.

He is Managing Director of Pangolin Gold (Pty) Limited, a company dedicated to the recycling of historical gold tailings dumps in Botswana; Director of Kimberlamp Exploration Zambia Limited exploring for diamonds in Zambia and President of Precambrico SA, exploring for gold in Uruguay.   He is a member of the Australian Institute of Geoscientists and the Prospectors and Developers Association of Canada.

Dr. Daniels obtained his PhD from the University of Cape Town, South Africa in 1991.  He has authored and co-authored numerous research papers relating to diamonds and associated minerals and the exploration and development of kimberlites in various areas.

Olivut will benefit greatly from Dr. Daniels’ extensive experience and looks forward to working with him.

Separately, Olivut regretfully accepts the resignation for personal reasons of Mr. Stephen Barley who has been a valuable member of the Board as Olivut became established during its first year as a public company.  The Board wishes to thank Mr. Barley for his contributions and direction over that period of time.

The Company also announces that, pursuant to the Company’s stock option plan, the continuation of which was approved by ordinary resolution of the shareholders at the Company’s annual general meeting of shareholders on January 18, 2008, it has granted to Dr. Daniels options to purchase up to 125,000 common shares in the capital of the Company.  The options are exercisable for a period of five years ending on January 18, 2013 and are exercisable at a price of $0.85 per common share, being the closing price of the Company’s common shares on the TSX-V on the date immediately preceding the grant.  The options vest as to one-third (1/3) one year after the date of grant, one-third (1/3) two years after the date of grant and the remaining one-third (1/3) three years after the date of grant.  The grant of options is subject to regulatory approval, including approval of the TSX Venture Exchange.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories. Please visit www.olivut.com for detailed corporate and project information.

Leni Keough
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Jan. 9, 2008 Olivut Resources Ltd. Receives Partial Preliminary Results From HOAM Project

Toronto, January 9, 2008 – Olivut Resources Ltd. (“Olivut” or the “Company”-- TSX-V: OLV) announced today that preliminary chemical and caustic fusion results have been received for the first batch of samples submitted for analysis.

The samples consisted of material from two separate bodies that were each tested with a single drill hole. Abundant pyrope garnet and picroilmenite grains were recovered from several core intervals and the chemistry indicates kimberlite as do analyzed grains of olivine, chrome diopside and phlogopite. HDM Laboratories in Loveland, Colorado (“HDM”) has conducted a preliminary petrographic assessment confirming a diatreme facies kimberlite interpretation.  Management is highly encouraged by this confirmation of kimberlite in the initial two holes tested from its first year drill program. Approximately 210 kg of material from 75 metres of core from one hole in a pipe-like body, as well as a 24 kg sample of host-rock fragment dominated breccia from another target, were analyzed by Saskatchewan Research Council (“SRC”) for microdiamonds.  No diamonds were recovered; however, one of these targets exceeds 3 ha (>7.4 acres) and further drilling will be done to ascertain if more favourable phases may be present in this relatively large body.   Additional drilling will also be required to better define and test the second target that lies on a dyke system.

Ultramafic core material from five additional probable kimberlitic targets currently is being evaluated chemically and petrographically by HDM and approximately 250 kg of representative samples have been submitted to SRC for microdiamond evaluation.  Results of analyses will be released on a timely basis as they become available.

A Phase II drill program is being planned to continue this preliminary field investigation of targets during the Company’s next fiscal year.  Continued evaluation and interpretation of the regional airborne, helimag and drilling results is ongoing to help establish a comprehensive understanding of the region encompassed by this large project area, for which only limited geological data are available.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Paul Pitman (P.Geo.), a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Nov. 19, 2007 Olivut Resources Ltd. Completes Hoam Project 2007 Drill Program and Submits Samples for Processing

Toronto, November 19, 2007 – Olivut Resources Ltd. (“Olivut” or the “Company” -- TSX-V: OLV) is pleased to provide a 2007 exploration update of the HOAM Project.  The Phase 1 drilling program to test some of the priority targets is now complete.  Samples of ultramafic intrusive rock have been sent to Saskatchewan Research Council “SRC”.

Initial interpretation of recovered ultramafic core material, indicates that some is of favourable mantle origin. Identification of pelletal lapilli in certain core samples suggests diatreme facies occurrence.   The Company has submitted samples for caustic fusion digestion based on the many features present in these rocks that are common to kimberlite intrusions. While samples are being processed by SRC, petrography and mineral chemistry will be ongoing to ascertain the composition and mineral potential of the intrusive mineral assemblages. Management is extremely pleased with such encouraging results so early in its first drill program.  A total of 24 holes into 18 targets was drilled from late June until the end of October despite extremely challenging weather and logistical conditions.

The Company is also pleased to report that bedrock was intersected in fourteen holes.  Recovery of the core has been excellent.  Half of the holes that reached bedrock contain ultramafic intrusives and recovery of these phases exceeds 90%.

The approved $4 million exploration budget included regional airborne, helimag and drilling over this geographically extensive project area.  The 2007 field portion of each of these programs is now completed. Results of analyses will be released on a timely basis as they become available.  A Phase II drill program is being planned to continue this preliminary field investigation of targets during the Company’s next fiscal year.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the HOAM Project in Canada’s Northwest Territories.  Please visit www.olivut.com for detailed corporate and project information.

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Paul Pitman (P.Geo.), a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.

Leni Keough
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Sept.28, 2007 Olivut Announces Third Quarter Financial Statements

Olivut Resources Ltd. Announces Third Quarter Financial Statements                 

Toronto, September 28, 2007 - Olivut Resources Ltd. (TSX-V: OLV) announces that the third quarter financial statements for the period ended July 31, 2007 have been released. These statements may be viewed on SEDAR at www.sedar.com or at the Company’s website at www.olivut.com. We invite interested parties to visit those websites for additional corporate and project information.

Leni Keough
President and Chief Executive Officer

For further information, please contact:
Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
(780) 866-2226
info@olivut.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

July 18, 2007 Olivut Resources Ltd. Initiates Drill Program , HOAM Project, NWT

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.                                                       

Toronto, July 18, 2007 – Leni Keough, President and CEO of Olivut Resources Ltd. (“Olivut” or the “Company”) is pleased to provide a 2007 exploration program update.   

The approved $4 million exploration program is currently underway, and approximately $900,000 has been spent on regional airborne, helimag and drilling programs.   A low level helicopter magnetic survey has been completed over targets established from results of the previous regional airborne geophysical surveys.  The helimag program was successful in confirming magnetic anomalies and allowing for a more detailed analysis to aid in drill target prioritization and modeling of these features.

Drilling on the HOAM project commenced in June 2007 on anomalies prioritized from helimag surveys.   A small diameter (BTW), light weight, heliportable drill has been utilized successfully at several sites. Several holes were completed through overburden and sufficient core was recovered to allow for evaluation of target material.  We are pleased with the capability of the drill for testing priority anomalies.

The HOAM project area is geographically extensive (~200 x 450 km) and the 2007 program is designed to evaluate anomalies that may reflect several different potential kimberlite clusters. The Company plans to drill 25 targets throughout the HOAM project area, weather and logistics permitting. Larger targets will require multiple holes for proper evaluation.  The actual number of holes drilled will be determined by the length of the field season.

Drill core samples will be evaluated petrographically to determine the type of rock intersected in each hole as material becomes available.  Portions of any core intercepts determined to be kimberlitic will be submitted for microdiamond analysis by caustic fusion processing.  Results of analyses will be released on a timely basis throughout the course of the drilling program as they become available and shareholders will be updated further as the program progresses.
The program is scheduled to be completed before the end of the year, weather and logistics permitting.   Please visit www.olivut.com for detailed corporate and project information. 

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the prospective HOAM Project in Canada’s Northwest Territories.  Prior to the 2007 exploration program, Olivut had spent over $7 million assessing the diamond potential of the property, including extensive geophysics and geochemistry.  

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Paul Pitman, P.Geo. is a Qualified Person as defined by National Instrument 43-101 and has reviewed the contents of this press release.  Mr. Rick Kemp is the project geologist supervising the field work.

Leni Keough
President and Chief Executive Officer 

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

May 18, 2007 Olivut Resources Ltd. Announces 2007 Exploration Program and Website Launch

May 18,2007
FOR: Olivut Resources Ltd.
TSX-V: OLV

Olivut Resources Ltd. Announces 2007 Exploration Program and Website Launch

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, May 18, 2007 – Leni Keough, President and CEO of Olivut Resources Ltd. (“Olivut” or the “Company”) is pleased to announce the 2007 exploration program and website launch for the Company. 

The approved $4 million exploration program is currently underway and approximately 30,000 line kilometers of regional airborne geophysical surveying has been completed with encouraging results.  Evaluation of anomalies will be conducted by low level helicopter magnetic surveys that are to commence later this month. Anomalies recognized from last year’s airborne surveys have been prioritized for drilling and the Company plans to drill approximately 25 of the best targets this field season, weather and logistics permitting.   A small diameter (BTW), light weight, heliportable drill will be utilized and preliminary holes are scheduled to be drilled up to 150 metre depths.  The drill targets range in size from approximately one to greater than ten hectares.  Larger targets will require multiple holes to test these anomalies.  The actual number of holes drilled will be determined by the length of the field season. 

The project area is geographically extensive (~200 x 450 km) and this program is designed to evaluate anomalies that may reflect different potential kimberlite clusters.  Variations in chemistry of indicator minerals recovered in different parts of the project area support the probability of multiple clusters.

Drill core samples will be evaluated petrographically to determine the type of rock intersected in each hole as material becomes available.  Portions of any core intercepts determined to be kimberlitic will be submitted for microdiamond analysis by caustic fusion processing.  Results of analyses will be released on a timely basis throughout the course of the drilling program as they become available.

The program is planned to be completed before the end of the year, weather and logistics permitting. 

A website is now available for Olivut Resources Ltd. and for detailed corporate and project information visit www.olivut.com.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the prospective HOAM Project in Canada’s Northwest Territories.  Olivut has spent over $7 million assessing the diamond potential of the property, including extensive geophysics and geochemistry. 

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Paul Pitman, P.Geo. is a Qualified Person as defined by National Instrument  43-101 and has reviewed the contents of this press release.

Leni Keough
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

May 14, 2007 Olivut Resources Ltd. Announces Private Placement

PRESS RELEASE
For Immediate release
May 14, 2007
FOR: Olivut Resources Ltd.
TSX-V: OLV

Olivut Resources Ltd. Announces Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, May 14, 2007 – Leni Keough, President and CEO of Olivut Resources Ltd. (“Olivut” or the “Company”) is pleased to confirm the closing today of the private placement for the sale of 4,600,000 units at C$1.75 per unit (a “Unit) for gross proceeds of C$8,050,000 million with a syndicate of agents led by Genuity Capital Markets and including Canaccord Capital.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company at an exercise price of C$2.00 per common share for a period of 24 months from the closing of the offering.

All of the securities sold pursuant to the offering are restricted from resale until September 15, 2007.

The proceeds from the placement will be used to continue the exploration program on the HOAM project and for general corporate purposes.

Genuity Capital Markets and Canaccord Capital Corporation (collectively, the “Agents”) received a cash commission of 7.0 % of the gross proceeds and compensation warrants entitling the Agents to purchase such number of common shares equal to 7.0% of the aggregate number of Units sold pursuant to the increased private placement. Each Compensation Warrant will entitle the Agents to purchase one common share of the Company at a price of $2.00 per common share for a period of 12 months following the closing.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the prospective HOAM Project in Canada’s Northwest Territories.  Olivut has spent over $7 million assessing the diamond potential of the property, including extensive geophysics and geochemistry. 

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Leni Keough
President and Chief Executive Officer

For further information, please contact:
Leni Keough

President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2226

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

April 24, 2007 Upsized Private Placement

April 24, 2007
FOR: Olivut Resources Ltd.
TSX-V: OLV

Olivut Resources Ltd. Private Placement Upsized

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, April 24, 2007 – Leni Keough, President and CEO of Olivut Resources Ltd. (“Olivut” or the “Company”) announces that Olivut’s best efforts private placement announced in a press release earlier today has been upsized from the original 3,715,000 units to 4,600,000 units (“Units”) as a result of strong investor demand.  The offering price remains C$1.75 per unit, for increased aggregate gross proceeds of C$8.05 million.  Each Unit will continue to consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company at an exercise price of C$2.00 per common share for a period of 24 months from the closing of the offering. Closing is expected to be on or about May 10, 2007.

Genuity Capital Markets, acting as lead agent and sole bookrunner, and a syndicate of agents including Canaccord Capital Corporation  (the “Agents”) will receive cash commission of 7.0 % of the gross proceeds raised in this upsized private placement and compensation warrants (the “Compensation Warrants”) entitling the Agents to purchase such number of common shares equal to 7.0% of the aggregate number of Units sold pursuant to the increased private placement. Each Compensation Warrant will entitle the Agents to purchase one common share of the Company at a price of $2.00 per common share for a period of 12 months following the closing.

The proceeds from the placement will be used to continue the exploration program on the HOAM project and for general corporate purposes.

Completion of the private placement is subject to certain conditions including, but not limited to all necessary approvals.  The private placement is being made in the provinces of British Columbia, Alberta and Ontario.  The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.  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.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the prospective HOAM Project in Canada’s Northwest Territories.  Olivut has spent over $7 million assessing the diamond potential of the property, including extensive geophysics and geochemistry. 

Leni Keough
President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2221

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

April 13, 2007 Stock Options Granted

OLIVUT RESOURCES LTD. GRANTS INCENTIVE STOCK OPTIONS

Friday, April 13, 2007

TORONTO, ONTARIO – Olivut Resources Ltd. (the “Company”) (TSX-V: OLV) announces that it has granted stock options to consultants of the Company to purchase up to 110,000 common shares (“Common Shares”) in the capital of the Company at an exercise price of $1.15 per Common Share.   The stock options shall expire on April 13, 2012.  The options were granted pursuant to the Company’s incentive stock option plan (the “Plan”), under which a maximum of 10% of the issued and outstanding Common Shares are reserved for issuance.  The current number of issued and outstanding Common Shares is 26,583,677.  Following the grant of such stock options, a further 161,407 Common Shares will be available for issuance under the Plan.

The grant of options is subject to regulatory approval, including approval of the TSX Venture Exchange.

Leni Keough
President and Chief Executive Officer

For further information, please contact:

Leni Keough
President and Chief Executive Officer
Olivut Resources Ltd.
Telephone:      (780) 866-2221

TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.

Jan. 10, 2007 Olivut Resources Ltd. (formerly Arrabbiata Capital Corp.) Receives Final TSX Venture Exchange Approval

January 10, 2007: Olivut Resources Ltd. (formerly Arrabbiata Capital Corp. ("Olivut") is pleased to announce that the TSX Venture Exchange (the “Exchange”) has issued final approval of its previously announced business combination with Olivut Investments Ltd. that was completed on January 8, 2007 (the “Business Combination Transaction”).

Concurrent with the completion of the Business Combination Transaction, C$3,047,500 raised through a subscription receipt private placement completed in September 2006 were released from escrow.

The shares of Olivut now trade under the name Olivut Resources Ltd., a Tier 2 Issuer, under the trading symbol “OLV” as of today’s date.

The Board of Directors of Olivut is now comprised of the following people: Leni Keough, Sharon Dowdall, Craig Reith, Sargent Berner and Stephen Barley.  The management team consists of Leni Keough as President and CEO and Ian Shaw as Chief Financial Officer.

Olivut is a diamond exploration company with a 100% mineral interest in over 2,000,000 acres in the highly prospective HOAM Project in Canada’s Northwest Territories.  Olivut has spent over $7 million assessing the diamond potential of the property, including extensive geophysics and geochemistry.  A field program to evaluate targets will commence in the spring.

Leni F. Keough, President & CEO comments: “We’ve put in place an excellent technical team and will continue to focus this talent on the HOAM Project.  We believe we’re in the best place we’ve been as a team for over 10 years and are making excellent progress.”

Paul Pitman, P.Geo., an independent geological consultant to Olivut and a qualified person as defined by National Instrument 43-101, prepared the technical report in respect of the HOAM Project dated March 15, 2006.

Further information in respect of the Business Combination Transaction, Olivut’s HOAM Project and the Technical Report is included in the Filing Statement of Olivut (under the name “Arrabbiata Capital Corp.”) dated December 8, 2006, available through SEDAR (at www.sedar.com) under the listing of public documents of Olivut.

The Exchange has in no way passed upon the merits of the Business Combination Transaction and has neither approved nor disapproved the contents of this press release.

For further information, please contact:

Leni Keough
President and Chief Executive Officer,
Olivut Resources Ltd.
(780) 866-2221

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.