Olympus Pacific

June 05, 2006 15:29 ET

Webcast Alert: Olympus Pacific Announces Its InformedInvestors.com Presentation Webcast

TORONTO, ONTARIO--(CCNMatthews - June 5, 2006) - Olympus Pacific (TSE:OYM) announces the following Webcast:

What: Olympus Pacific InformedInvestors.com Presentation Webcast

When: June 6, 2006 @ 10:00 AM Eastern

Where: www.investorcalendar.com/EventPage.asp?ID=105192

How: Live over the Internet -- Simply log on to the web
at the address above.

Contact: Jim Hamilton, 416-572-2525 or jhamilton@olympuspacific.com

If you are unable to participate during the live webcast, the call will be available for replay at www.investorcalendar.com/ClientPage.asp?ID=105192 or www.investorcalendar.com/

Olympus has positioned itself to make major discoveries in a region of the world known for multi-million ounce gold deposits with licences and applications covering five deposits and advanced, large-scale targets.

Situated along Southeast Asia's two main geological structures known for being mineralised throughout their strike extent - the Red River and Phuoc Son Sutures - Olympus' deposits and exploration targets are contiguous to the region's major gold deposits.

The Phuoc Son Suture is home to Olympus' two advanced-stage properties, Bong Mieu and Phuoc Son, as well as Oxiana's 5.1 million oz. Sepon deposit. Already on track to the 1 million oz. mark, Olympus' Bong Mieu and Phuoc Son gold properties have seen considerable exploration and development.

Bong Mieu consists of three deposits where gold has already been defined. Exploration work to date has resulted in a new discovery (Thac Trang in the Bong Mieu East area), at least four new untested prospect areas, and indicates that all of the deposits remain open in several directions. The potential for additional discoveries and resource expansion in 2006 is considered excellent.

At Bong Mieu Central, a starter plant is in operation and Olympus' production team is working toward maximizing production and recoveries. Future expansion of the plant capacity and its cash flow generation are anticipated.

Olympus' other advanced-stage property, Phuoc Son, covers 70 square kilometres and is located 74 kilometres away from the existing operations at Bong Mieu Central. In the southern area of the property, two deposits, North Deposit and South Deposit, have been discovered and are referred to as the Dak Sa Underground Project. A mining licence has been received recently for Dak Sa and was the last major permit required in advance of development and production.

A schedule for commissioning and construction of the second operation at Phuoc Son is expected to be completed during the third quarter of this year and the project is anticipated to come on stream within 18 months thereafter.

Exploration work to date has defined the "productive" Dak Sa shear zone over a strike length of five kilometres, expanded the Dak Sa resource base and confirmed that the mineralization remains open. Drilling has also shown some significant results in 2005 outside of the resource outline used in the Micon Preliminary Assessment Study of June 2005. Exploration and deposit scale step-out drilling are part of an aggressive exploration program that began in late April 2006 to test the large-scale potential of this prospective setting to host new deposits that could be mined together with the Dak Sa deposits or as stand alone operations.

Among Olympus' exciting exploration targets is the Phuoc Thanh area that lies along the Phuoc Son Suture and is under application. This granitic intrusive complex extends over 4 km where three groups of 4 to 5 broadly parallel major veins have been mapped and have assayed up to 322 g/t over 1 metre.

Another target, the Khau Pum application, shares the Red River corridor with deposits in the Yulong Belt as well as the Jinchang, Tong Chang deposits in southern China; and, in Vietnam, neighbouring companies such as: Asia Minerals, Tiberon, Triple Plate/Newmont and Zedex.

Olympus' continues to step up its exploration program-a key element to increase the potential of the next major discovery and to Olympus' objective of producing of 500,000 ozs. of gold per year.

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