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OLYMPUS ANNOUNCES CASH PROCEEDS FROM WARRANTS
All of the remaining 4.2 million Olympus Pacific Minerals warrants which were due to expire on March 17 have been exercised, generating proceeds of CAD1.7 million, which Olympus Pacific plans to use for general corporate purposes and to fund its drill program at the Phuoc Son property in Central Vietnam.
Olympus Pacific Minerals Inc.
750 West Pender Street, Suite 1006, Vancouver, B.C. V6C 2T8
Phone (604) 669-1580 Fax (604) 681-0269
NEWS RELEASE #05-02
March 25, 2002
CDNX:OYMO
TCBB:OLYMF
OLYMPUS ANNOUNCES PROCEEDS FROM WARRANTS
Olympus Pacific Minerals Inc. (the Company") is pleased to announce that all of the remaining 4.2 million warrants which were due to expire on March 17, 2002 have been exercised, to bring capital proceeds of CAN $1.7 million to the Companys treasury. This cash will be used for general corporate purposes and to fund the Companys exploration drill program at the Phuoc Son property in Central Vietnam.
Initial drilling at the high-grade gold skarn zone of the Khe Rin prospect, in the mid-western section of Phuoc Son, is about to commence. Assay results will be released as soon as they are available.
On behalf of the Board ofOLYMPUS PACIFIC MINERALS INC.
Arthur T. Fisher"
Arthur T. Fisher President
CONTACT INFORMATION: Arthur T. Fisher, President
Telephone: (604) 669-1580
Toll-free: 1-888 - 902-5522
Facsimile: (604) 681-0269
e-mail: info@oym.net
PLEASE VISIT OUR WEB SITE AT WWW.OYM.NET
This news release may contain forward-looking statements considered genuine by the author and based upon the authors experience and knowledge. However, forces of which the author may have little or no ability to affect will ultimately determine the outcome. Any forward-looking statements should not be considered guarantees of results.
THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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