Olympus Announces Management Reorganization
TORONTO, March 26, 2008 -
Olympus Pacific Minerals Inc. (TSX: OYM, OTCBB: OLYMF and Frankfurt: OP6,
(the "Company" or Olympus") is pleased to announce the
following changes to senior management in preparation for anticipated
growth as the company plans to increase production and expand it
operations.
The following appointments are
effective 17 March 2008:
- David A. Seton - Chairman & Chief Executive Officer
- Colin Patterson - Corporate Technical Advisor
- Charles Barclay - Chief Operating Officer
- Pamela Campagnoni
- Chief Financial Officer
- Louis Montpellier of Gowlings Lafleur Henderson LLP - Corporate Secretary.
- Peter Tiedemann - Vice President Corporate Affairs.
- Jim Hamilton - Vice President Investor Relations.
Olympus' CEO, David Seton,
said, "senior management recognizes how vital the next stage of
development is to the Company and the importance of having an excellent
team of capable people in critical areas focused on their areas of
expertise." This reorganization has been put into action to reinforce
the team's commitment to attaining production and performance targets on
time and on budget.
Olympus Pacific Minerals Inc.,
as first mover in Vietnam,
is positioned to become a leading gold producer and explorer in Southeast Asia. Olympus
is committed to its vision of making major discoveries in the region and
increasing shareholder wealth.
For
further information contact:
David Seton, Chairman & CEO
Jim Hamilton, VP Investor Relations
T: (416) 572-2525 or TF: 1-888-902-5522
or F: (416) 572-4202
OLYMPUS FOFI DISCLAIMER
Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Ontario
Securities Act or forwarding- looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934 of the United States,
including statements concerning our plans at our Vietnamese mineral
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 which 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; 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 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 within Vietnam 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.