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.