Olivut Resources Ltd.

TORONTO, ONTARIO -- (Marketwire) -- 09/20/12 -- Olivut Resources Ltd. ("Olivut" or the "Company") (TSX VENTURE: 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 [...]

Olivut 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 [...]

Olivut 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 [...]

Olivut announces the resignation of Dr. Leon Daniels as a director of the Board. The Company appreciates the contributions Dr. Daniels has made over the past four years and looks forward to continuing a working relationship with him on a consulting basis as the Company develops its projects. Olivut is a diamond exploration company with a 100% mineral interest in the HOAM Project in Canada's Northwest Territories and [...]

Olivut 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 comprised placements of (i) 1,079,200 flow-through common shares for proceeds of $1,349,000 at a price of $1.25 per FT Share, and (ii) 772,545 common shares for proceeds of approximately $849,800 at a price of $1.10 per Common Share (the [...]

Olivut, in a non brokered private placement and subject to regulatory approval, proposes to issue (i) up to 1,600,000 common shares in the capital of Olivut to be issued on a flow-through basis at a price of $1.25 per FT Share; and (ii) up to 909,090 common shares in the capital of Olivut (each, a "Common Share") at a price of $1.10 per Common Share. Proceeds of the placement of FT Shares will be applied to costs related [...]

Olivut is pleased to provide an update for the Itapoty and Rivera Diamond Projects, South America. Highlights include the following: Itapoty Diamond Project: 22 macro diamonds recovered from 14 stream sediment samples, detailed magnetic survey underway. Rivera Diamond Project: 6 month extension granted for Phase 1 exploration earn-in expenditure, ground magnetometer survey in pro

Olivut is pleased to provide an update for its exploration programs. 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 [...]