Olympus Announces Normal Course Issuer Bid
Published : November 28, 2011

(Buy-Back Program)

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Keywords :   Gold | Gold Production | Malaysia | Market | Recovery |

TORONTO, ONTARIO--(Marketwire - Nov. 28, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Olympus Pacific Minerals Inc. (News - Market indicators)(OTCQX:OLYMF)(FRANKFURT:OP6)(ASX:OYM), Chief Executive Officer, John Seton announced today that Olympus has received approval from the Toronto Stock Exchange ("TSX") to make a normal course issuer bid to be transacted through the facilities of the TSX (the "Normal Course Issuer Bid"). The Company also filed a buy-back announcement with the Australian Securities Exchange (with the Normal Course Issuer Bid, the "Buy-Back Program").

Pursuant to the terms of the Buy-Back Program, Olympus may purchase its own common shares for cancellation in compliance with TSX or ASX rules, as applicable. The current intention of the Company's board of directors is to not purchase more than 15,000,000 Shares pursuant to the Buy-Back Program. However, TSX rules permit the Company to repurchase up to 30,072,558 shares, being 10% of its public float. Purchases will be subject to a daily maximum of 49,601 shares representing 25% of the average daily trading volume of 198,403 shares for the six months ended October 31, 2011, except where such purchases are made in accordance with "block" purchase exemptions under TSX guidelines. Olympus will initiate purchases at different times starting on or after December 1, 2011, and ending no later than November 30, 2012.

On November 22, 2011, the Company had 380,887,907 common shares issued and outstanding of which 300,725,583 common shares were in the public float, determined in accordance with TSX rules.

John Seton, Chief Executive Officer said, "Olympus' low share price does not accurately reflect the value of the Company's assets or its future prospects, therefore, a share buy-back program makes good business sense and delivers value to our existing shareholder base."

Olympus has appointed Paradigm Capital Inc. as its representative broker for purposes of the Normal Course Issuer Bid and D2MX Pty Ltd. for purchases on the ASX.

A copy of the Company's notice of intention filed with the TSX may be obtained by any shareholder without charge by contacting the Company's Vice-President, Investor Relations at the number below.

Olympus is a diversified gold company focused on Southeast Asia with two operating mines and four advanced exploration properties. The Company is well positioned to expand existing gold production at its current facilities and expects to develop and construct its third and largest mine in Bau, East Malaysia. Initial production is projected in the second half of 2014.

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.

Olympus Pacific Minerals Inc.
 
John A.G. Seton
Chief Executive Officer

The technical information in this press release has been prepared under the supervision of Mr. Rod Murfitt who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM), a "Competent Person", as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve" and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Mr. Murfitt consents to the inclusion in this press release of the technical information, in the form, and context in which it appears.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain of the statements made and information contained herein is "Forward-looking information" within the meaning of the Ontario Securities Act, including statements concerning our plans at our producing mines and exploration projects, which involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, failure to establish estimated resources or to convert resources to mineable reserves; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; delays in obtaining or failure to obtain required governmental, environmental, or other project approvals; changes in national and local government legislation or regulations regarding environmental factors, royalties, taxation or foreign investment; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in commodity prices; delays in the development of projects; shortage of personnel with the requisite knowledge and skills to design and execute exploration and development programs; difficulties in arranging contracts for drilling and other exploration and development services; dependency on equity market financings to fund programs and maintain and develop mineral properties; and risks associated with title to resource properties due to the difficulties of determining the validity of certain claims and other risks and uncertainties, including those described in each management's discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of gold; the availability of permits and surface rights; access to financing, equipment and labour and that the political environment in the jurisdictions within which the Company operates will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.



Olympus Pacific Minerals Inc.
James W. Hamilton
Vice-President Investor Relations
(416) 572-2525 or TF: 1-888-902-5522
(416) 572-4202 (FAX)
info@olympuspacific.com
www.olympuspacific.com
Data and Statistics for these countries : Malaysia | All
Gold and Silver Prices for these countries : Malaysia | All

Olympus Pacific Minerals Inc.

PRODUCER
CODE : OYM.TO
ISIN : CA68162Q2027
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Olympus Pacific is a gold producing company based in Canada.

Olympus Pacific produces gold, lead, silver, tungsten and zinc in Vietnam, and holds various exploration projects in Malaysia and in Philippines.

Its main assets in production are BONG MIEU and PHUOC SON in Vietnam and its main exploration properties are TIEN THUAN, NA PAI and TIGER MOUNTAIN in Vietnam, BAU MALAYSIA in Malaysia and CAPCAPO in Philippines.

Olympus Pacific is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 72.0 millions as of today (US$ 66.5 millions, € 48.0 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.20, and its lowest recent point on October 24, 2008 at CA$ 0.04.

Olympus Pacific has 378 781 000 shares outstanding.

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Annual reports of Olympus Pacific Minerals Inc.
2008 Annual report
Annual Report 2007
Financings of Olympus Pacific Minerals Inc.
5/10/2011Closes The Remaining Private Placement Financing Of US$14.6 ...
3/23/2011Announces A Capital Raise
2/26/2007To Raise Up To $12 Million By Private Placement
Nominations of Olympus Pacific Minerals Inc.
6/20/2012Announces Chief Operating Officer's Resignation
1/17/2012Appoints Mr. Kevin Tomlinson as Director and Deputy Chair Re...
8/22/2011Restructures Management Team and Appoints New Chief Operatin...
8/20/2007Appoints Vice President Exploration and Vice President Finan...
Project news of Olympus Pacific Minerals Inc.
9/25/2012As we go deeper=2C the grade gets higher
3/5/2012Expands Global Gold Resource To 4.53 Million Ounces Bau Res...
9/30/2011(Capcapo)ANNOUNCES SIGNING OF FORMAL JOINT VENTURE AGREEMENT IN RESPE...
5/23/2011(Bau Malaysia)Drills 40 Meters at 4.69 Grams Gold/Tonne
3/16/2011(Phuoc Son)Receives Trucking Permit Extension
3/4/2011(Phuoc Son)Releases Video Update On Phuoc Son Gold Plant
2/24/2011(Phuoc Son)Prepares to Commission Its Second Gold Plant at Phuoc Son
2/22/2011(Phuoc Son)Signs Refining Agreement With Vietnamese Firm
4/1/2008(Phuoc Son) Receives Positive Independent Technical Report On Feasibili...
1/15/2008(Phuoc Son)Doubles Resource To 637,000 Oz At The High Grade Phuoc Son G...
11/6/2007Continues To Extend High-Grade Gold Intersections At Phuoc S...
10/9/2007(Bong Mieu)Announces Increased Gold Equivalent Resource Of 833,500 Oz. ...
9/18/2007(Phuoc Son)Drill Results Continue To Show High-Grade Gold Mineralizatio...
8/14/2007(Phuoc Son)Drill Results Yield Additional High-Grade Gold
7/26/2007(Phuoc Son)Further High-Grade Mineralization Within North Extension of ...
6/25/200750 Metre Stepout Intersects High-grade Gold & Copper at Capc...
5/23/2007(Phuoc Son)Recent results phuoc son
4/24/2007Drilling Intersects 94 Meters of Gold and Copper at Capcapo,...
Corporate news of Olympus Pacific Minerals Inc.
11/8/2012is simplifying its capital structure.
11/6/2012Proposes Amendments to Simplify Capital Structure
9/20/2012Hits Higher Gold Grade at Jugan Hill, Bau, East Malaysia
9/12/2012Milestone=3A Test Work Proves Metallurgical Viability At Jug...
9/11/2012Happy with 90% =2D 98% Gold recovery rates at Jugan Hill
9/5/2012FORMER FREEPORT=2DMcMORAN COPPER & GOLD VP EXCITED BY BAU GO...
9/4/2012I Accept: Former Freeport-McMoRan Copper & Gold VP Excited b...
8/1/2012s Second Quarter Gold Production and Changes Its Financial Y...
5/23/2012=E2?? BAU GOLD PROJECT CONTINUES TO DELIVER POSITIVE DRILL R...
5/22/2012' Bau Gold Project Continues to Deliver Positive Drill Resul...
4/5/2012Drills 52.7M @ 4.64G=2FT Au At Bau
4/3/2012Drills 52.7m @ 4.64 g/t Au at Bau
3/5/2012Expands Global Gold Resource to 4.53 Million Ounces
2/15/2012Enhances Board Independence
1/31/2012Confirms Mineralization Widths of Up to 78 Meters at Bau Cen...
1/24/2012Completes an Additional Tranche of the Bau Acquisition and E...
1/10/2012Exceeds Its 2011 Gold Production Target
12/22/2011Receives Certificate of Merit for Its Social Economic Contri...
12/5/2011Announces Progress at Bau Project and Draws Carlin Trend Ana...
11/29/2011EXPECTS TO ACHIEVE ITS 2011 PRODUCTION TARGET
11/28/2011Announces Normal Course Issuer Bid
10/26/2011Featured In Australia=E2??s Paydirt - Gold Mining Journal
10/11/2011Malaysia Bau Central Trench Results Confirm Outcrop Grades a...
9/8/2011Commences Malaysian Goldfield Feasibility
8/10/2011PUBLISHES FIRST EDITION COMPANY NEWSLETTER
6/24/2011(Phuoc Son)Successfully Pours First Gold Dore at Phuoc Son
6/6/2011' CEO to Present at Euro Pacific Global Investment Conferenc...
5/5/2011Announces Closing of Private Placement of CAD$15 Million of ...
1/28/2011to Finalize In-Country Value Added Refining of Dor=C3=A9
3/26/2008Announces Management Reorganization
3/7/2008to Commence Trading in the US on OTCBB
2/4/2008Management Has Reorganized To Ensure Technical Success Over ...
1/3/2008Information Now Available Through S&P Market Access Program
1/3/20082008 Vancouver Resource Investment Conference
12/18/2007Special Meeting Adjourned
11/5/2007 Event Announcement - San Francisco Hard Assets Investment C...
10/2/2007Announces Strategic Exploration Plans
9/21/2007Completes Due Diligence At Capcapo, N. Philippines
9/13/2007The Denver Resource Expo
9/7/2007Announces Exercise Of Over-Allotment Option Gross Proceeds O...
8/27/2007Recent $25 Million Prospectus Offering Deposited In TD Bank....
8/10/2007 $25,000,000 Prospectus Offering Closes
8/8/2007$25,000,000 Prospectus Offering — Receipt Issued for A...
8/2/2007$25 Million Prospectus Offering Amended Terms
7/25/2007$25,000,000 Short Form Financing
7/11/2007Repays US$2 Million Debt Facility With Macquarie Bank
7/3/2007s' Announces Pricing of $25,000,000 Prospectus Offering
6/27/2007Board Approves Shareholder Rights Plan
5/4/2007Announces Board and Management Changes
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