Company Information for Olympus Pacific Minerals Inc

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Company Statement

Olympus Pacific Minerals Inc. is a Canadian gold producer with four projects diversified over two countries, Vietnam and Malaysia. In Vietnam the Company is operating two mines; Bong Mieu and Phuoc Son located in central Vietnam approximately 100 km from the port city of Da Nang. The Bong Mieu Gold Plant is presently sourcing ore from its two mines, Bong Mieu and Phuoc Son. The Company’s annualized production is 40,000 oz pa. The construction of the Phuoc Son gold plant has started with commissioning planned in the fourth quarter 2010 when annualized production is expected to increase to 80,000 oz pa.

Exploration drilling programs will start in 2010 at Bong Mieu, Phuoc Son, Tien Thuan and in Bau, E. Malaysia. The Company expects to expand Resource Estimates by some million ounces resulting from its drilling efforts during 2010.

Olympus Pacific Minerals are listed on the follwing; (TSX:OYM), (TSX;OYM), (OTCBB:OLYMF), (FF Stock Exchange:OP6), (CUSIP:68162Q), (ISIN:CA68162Q2027), (ASX:OYM). 

Current Operations

Gold Properties

Vietnam

Bong Mieu

Overview
Gold mining has been the predominant industry at Bong Mieu over many centuries. The last commercial mine was the Nui Kem underground mine, which historically operated from 1895 to 1942. Modern exploration began in the 1990s, with the description of further resources in the Nui Kem mine and the additional description of two shallow, potentially open-pit deposits. The Bong Mieu plant was first commissioned in 2006 to process ore from the central open-pit deposit. Advanced exploration continues on the Nui Kem (underground) deposit and on the East (open-pit) deposit. Additional long-term exploration potential has also been recognized in other geological target zones and regionally.

Phuoc Son

Phuoc Son is an area of extensive and locally intensive artisan gold mining activity.The 7,000 hectare exploration license has multiple geological targets that have been described. The main area of activity now is the southern (Dak Sa) deposit, where an underground mine has been developed on extensive open-ended resources which are being progressively upgraded to NI 43-101 status. Exploration to develop the long-term potential of other targets within the license currently remains at an early stage.

Area Geology Highlights

• Located on the Phuoc Son Suture, which hosts the world famous Sepon gold-copper deposit in Laos, 100 km to the northwest of Phuoc Son.
• Exploration has demonstrated the potential for a large-scale project with multiple ore sources.
• Mining License granted in January 2006 and renewed August 2009
• Dak Sa Underground mine currently being redeveloped with trial stoping proceeding.

Tien Thuan

Overview
The Tien Thuan project comprises multiple mineralization zones that were initially discovered by the Geological Survey of Vietnam (DGMV). With strong support from a local Joint Venture partner and the Provincial Government, Olympus is currently extending the DGMV exploration results, with the objective of defining a JORC status resource and lodging a Mining License Application during 2009.

Exploration Stage
Moderately advanced The Tien Thuan project area was extensively mapped and sampled by the Geological Survey of Vietnam during the 1980s. Olympus is currently re-validating and extending that work through detailed geological, geochemical and geophysical surveys, preparatory to a diamond drilling programme scheduled during 2009.

Malaysia

Bau Project

Overview
Operating since 1864, the Bau Goldfield has estimated historic production of more than 3.0 million oz gold, with significantly greater potential being inferred within large-scale and relatively unexplored intrusive-related, gold-copper-molybdenum prospective mineralization environments. Resource definition and mine scoping studies are currently in progress.

Exploration Stage
Since commencement of the JV in November 2006, exploration has primarily focused upon the central goldfield area, where multi-million ounce Au-Cu-Mo prospective mineralization environments are at various stages of exploration. A JORC status gold resource of 1.612 M oz has to date been defined in four deposits, whilst a further 3.3 to 4.5 M.oz gold has been identified in deposit extensions and closely adjacent zones. Other (as yet unexplored) potential remains within peripheral zones.

Equity
Zedex has 50.05% controlling interest and is project operator in Joint Venture with the Malaysian mining group, Gladioli Enterprises SDN BHD.

Production – 2010

• Olympus’ annual production from B • ong Mieu 35,000 - 40,000 oz.
• Ore sourced from the Phuoc Son and Bong Mieu underground mines.
• Phuoc Son plant under construction for commissioning in Q4 2010.

Production – 2011

• New Phuoc Son plant commissioned in Q4 2010.
• Phuoc Son to produce approximately 60,000 oz (Ore source – Phuoc Son).
• Bong Mieu’s gold production will scale back to 25,000 oz.

Production – 2012

• New Phuoc Son plant producing approximately 60,000 oz.
• Bong Mieu East start up 30,000 oz.
• Bau, E. Malaysia to approximately 30,000 oz.

Production – 2013

• Phuoc Son plant expansion (500 tpd to 1000 tpd) allows increases from 60,000 to 100,000 oz.
• Bau Construction Phase 2 allows increases from 30,000 oz to 70,000 oz.
• Bong Mieu East construction allows increases from 55,000 oz to 75,000 oz.

Production – 2014

• Phuoc Son - 100,000 oz.
• Bau - 70 oz increasing to 100,000 oz.
• Bong Mieu - 100,000 oz.

Geographical Spread

Vietnam, Malaysia

Board of Directors and Key Management

Directors
David A. Seton	Executive Chairman & CEO
Jon Morda	Independent
John Seton
Douglas Willock	Lead Independent
Les Robinson
Key Management
David A. Seton	Chairman & CEO
Charles Barclay	Chief Operating Officer
Peter Tiedemann	Chief Financial Officer
Paul Seton	VP Commercial Development
Louis Montpellier of Gowlings Lafleur Henderson LLP	Corporate Secretary
Rod Murfitt	Chief Geologist
Russell Graham	VP Finance
Jane Bell	VP Finance
James Hamilton	VP Investor Relations

Company Address 500-10 King St., East Toronto, Canada M5C 1C3 Telephone: 416-572-2525 Facsimile: 416-572-4202 Email: info[at]olympuspacific.com Website: http://www.olympuspacific.com

Additional Address/Key Contact OLYMPUS PACIFIC MINERALS INC., 644-646 Ngo Quyen St., DaNang, Son Tra District Vietnam Ph: 84 511 394 5288 Fx: 84 511 394 5290

Capital Common Shares on Issue; 323,636,887 Options on Issue; 28,279,544 Convertible Notes on Issue; 30,357,118 Warrants on Issue; 15,178,559 Fully Diluted; 397,452,108

Annual General Meeting May 11th 2010

Year End 31 December

Related News

27/05/10 - Olympus Pacific Has Set Itself A Series Of Ambitious Gold Production Targets To Meet Over The Next Three Years
12/11/09 - Olympus Pacific Merges With Zedex To Create A Significant New Gold Producer In South East Asia
26/10/09 - Olympus Pacific Puts Its First Mover Advantage In Vietnam To Good Use, As Gold Production Looks Set To Rise Substantially
13/05/09 - Olympus Pacific Has Ambitious Targets For Its Gold Production In Vietnam Over The Next Four Years

Most Recent Statement

31/08/10 - OYM - Bong Mieu Update
26/07/10 - Second Quarter Gold Production
07/07/10 - Olympus Commences Exploration Programs On 4 Core Properties
22/06/10 - Private Placement Gold Delivery Notes
21/06/10 - OYM Gold Loan Notes for Second Gold Processing Facility
30/04/10 - First quarter gold result