Completion of Qualifying Transaction Resumption of Trading on the TSX Venture Exchange as a Tier 2 Mining Issuer

OLYMPIC RESOURCES LTD.

(the "Company")

595 Howe Street, Suite 602 Vancouver, BC V6C 3T5 Telephone: (604) 629-7083 Fax: (604) 629-7084

COMPLETION OF QUALIFYING TRANSACTION

RESUMPTION OF TRADING ON THE TSX VENTURE EXCHANGE AS A TIER 2 MINING ISSUER

NEWS RELEASE

Vancouver, British Columbia, September 13, 2011 TSX-V SYMBOL: OLA

The Company is pleased to announce that the TSX Venture Exchange (the "Exchange") has accepted the Company's Qualifying Transaction as announced in the news release dated June 27, 2011, and the Company has closed its Qualifying Transaction which consists of the acquisition of an option to earn a 60% interest in the Dragon Lake Property from Eagle Plains Resources Ltd.

The CPC Filing Statement for the Qualifying Transaction is available on SEDAR at www.sedar.com

In connection with the Qualifying Transaction, Mr. Andrew Davidson has been appointed to the Board of Directors, and Mr. John Pallot has resigned as a Director

Upon the issuance of the Final Exchange Bulletin, the Company will graduate from being a Capital Pool Company to a Resulting Issuer that will be listed as a Tier 2 Mineral Exploration Issuer. The Company expects to commence trading at the opening of the market on September 14, 2011 under a the symbol "OLA", and the ".P" designation will be eliminated in accordance with the policies of the Exchange. The issuance of the Final Exchange Bulletin will evidence the final Exchange Acceptance and confirms the Completion of the Qualifying Transaction.

FOR FURTHER INFORMATION PLEASE CONTACT:

Balbir Johal, Director, at Suite 602 – 595 Howe Street, Vancouver, BC V6C 3T5, telephone: (604) 629- 7083.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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