Olympic Resources Stock Option Grant
OLYMPIC RESOURCES LTD.
SUITE 602 595 HOWE STREET VANCOUVER BC V6C 2T5
Olympic Resources Stock Option Grant
July 9, 2012 – Olympic Resources Ltd. (TSX-V: OLA) (the “Company” or “Olympic”) reports that, further to its news release of May 31st 2012, the Company wishes to clarify that an original grant of stock options occurred on September 9, 2011. A total of 2,000,000 stock options were granted to then appointed directors, officers and consultants exercisable at Cdn$0.22 per share for a term of five years, expiring September 9, 2016. Following the reorganization of the Company’s management (see news release May 2, 2012), subject to regulatory approval, the Board of Directors approved the cancellation of all the options previously issued on September 9, 2011 and granted 2,000,000 stock options to the newly appointed directors, officers and consultants pursuant to the Company’s approved stock option plan on May 3, 2012. The new options are exercisable at a price of Cdn$0.14 per share and have a term of five years, expiring May 3, 2017, subject to regulatory approval. The Company will seek disinterested shareholder approval for the resultant reduction in the exercise price to the new options granted at its next upcoming AGM.
Olympic Resources
Olympic Resources Ltd. (TSX-V:OLA) is a Toronto Venture Exchange listed resource company engaged in the exploration, development and acquisition of graphite, gold and precious metal properties. The Company is currently evaluating several prospective graphite properties in Canada and other countries to acquire and explore. Olympic also has an option to earn a 60per-cent interest in the Dragon Lake gold property in the Yukon and an agreement with Yukon Exploration Syndicate Inc. to acquire a 100% interest in the Ice, Max and Sun gold projects also located in the Yukon within the Carmacks Caldera.
On behalf of the Board of Directors:
“Dean Nawata”
Dean Nawata President and CEO
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.
Dean Nawata President and CEO Olympic Resources Ltd.
Suite 602 – 595 Howe Street Vancouver, BC Canada V6C 2T5 [email protected] Main: 1-604-629-7083 Mobile: 1-604-561-2821
Forward Looking Statements
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements contained in this document are based on certain key expectations and assumptions made by Olympic, including, without limitation, expectations and assumptions respecting obtaining TSXV and disinterested shareholder approval for the granting of the options, the outlook of exploration activity on the Property and the impact on Olympic’s business and management assessment of future operations, and the completion of the earn-in of the Property. Although the forward-looking information contained in this press release is based upon what Olympic’s management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such information. Forwardlooking information reflects current expectations of management regarding future events and operating performance as of the date of this press release.
It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this press release and Olympic assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.