Olympic Resources Completes Initial Public Offering

OLYMPIC RESOURCES LTD.

Suite 502 – 1281 West Georgia Street Vancouver, BC V6E 3J7 Telephone: 604-331-1757 Fax: 604-669-5193

NEWS RELEASE

OLYMPIC RESOURCES COMPLETES INITIAL PUBLIC OFFERING

February 3, 2011 – Olympic Resources Ltd. (the "Company"), a capital pool company, (TSX-V: OLA.P) is pleased to announce that it has completed its initial public offering of common shares through its agent, Wolverton Securities Ltd. (the "Agent"). The Company issued 2,000,000 common shares at a price of $0.10 per share for gross proceeds of $200,000. In connection with the offering, the Agent received a cash commission equal to 10% of the gross proceeds of the offering. The Company also granted agent's options entitling the holder to purchase up to 200,000 common shares at a price of $0.10 per common share until February 3, 2013. In addition, the Agent was paid a corporate finance fee plus applicable HST in connection with the initial public offering.

The board of directors of the Company consists of Elston Johnston, Antony Claydon, Marvin Mitchell and John Pallot.

The Company expects that the common shares of the Company will be posted for trading on Tier 2 of the Exchange under the symbol OLA.P on February 8, 2010.

FOR FURTHER INFORMATION PLEASE CONTACT:

Elston Johnston, President, CEO, Corporate Secretary and a director of Olympic Resources Ltd.

Telephone: (604) 331-1757

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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