Olivut Resources Ltd. ("Olivut" or the "Company") (TSX VENTURE: OLV) wishes to confirm that the Company's management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.

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. A field program to evaluate targets has commenced but no new information is as available at this time.

Leni Keough, President and Chief Executive Officer

Shares outstanding: 26,583,677

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

Contacts: Olivut Resources Ltd. Leni Keough President and Chief Executive Officer (780) 866-2221 (780) 669-5766 (FAX) Website: www.olivut.com

SOURCE: Olivut Resources Ltd.

http://www.olivut.com