OLV Olivut Resources Ltd

Olivut Resources Ltd. ("Olivut" or the "Company") (TSX VENTURE:OLV) is pleased
to provide an exploration and funding update.


The analysis of regional airborne data for the HOAM Project has defined numerous
new target areas for follow-up with detailed, low level airborne magnetic
surveys. Analysis is ongoing. Weather conditions permitting, airborne surveys
will be undertaken over certain highest priority areas during the summer season.
Olivut has financing in place to conduct the planned survey work.


In Paraguay, heavy rains have hampered plans for a sampling program to be
conducted during the South American winter season that typically is the driest
time of the year. The Company is monitoring conditions before committing to
field work on the properties.


Also, pursuant to the terms of the Securities Purchase Agreement (the
"Agreement") dated March 12, 2013 the Canadian Special Opportunity Fund, L.P.
("CSOF"), has advanced to the Company $52,000 for the next tranche financing for
which it is anticipated shares will be issued on August 12, 2013. 


Copies of the qualifying base shelf prospectus dated March 11, 2013, the
prospectus supplement dated March 12, 2013 and the Pricing Supplement dated July
11, 2013 are available on SEDAR. These documents, as well as any documents
incorporated therein by reference may be obtained on request without charge from
Olivut, at its offices located at 27010 Highway 16, 14 Mountain Park Properties,
Jasper East, Alberta, or by faxing a written request to (780) 866-3713, by mail
to P.O. Box 6690 Hinton, Alberta T7V 1X8 or by accessing the disclosure
documents available through the internet on the Canadian System for Electronic
Document Analysis and Retrieval (SEDAR) website at www.sedar.com. Unless
provided otherwise in a pricing supplement, the following is a description of a
purchaser's statutory rights: 


Securities legislation in certain of the provinces of Canada provides purchasers
with the right to withdraw from an agreement to purchase securities. This right
may be exercised within two business days after receipt or deemed receipt of a
prospectus and any amendment. In several of the provinces, the securities
legislation further provides a purchaser with remedies for rescission or, in
some jurisdictions, revision of the price or damages if the prospectus and any
amendment are not delivered to the purchaser, provided that the remedies for
rescission, revisions of the price or damages are exercised by the purchaser
within the time limit prescribed by the securities legislation of the
purchaser's province. However, such rights and remedies will not be available to
purchasers of common shares distributed under the prospectus supplement because
the prospectus, the prospectus supplement and the relevant pricing supplement
will not be delivered to purchasers, as permitted under a decision document
issued by the Alberta Securities Commission on December 5, 2012. The securities
legislation further provides a purchaser with remedies for recession or, in some
jurisdictions, revisions of the price or damages, if the prospectus and any
amendment contain a misrepresentation, provided that the remedies for recession,
revisions of the price or damages are exercised by the purchaser within the time
limit prescribed by the securities legislation of the purchaser's province. Such
remedies remain unaffected by the non-delivery of the prospectus permitted under
the decision documents referred to above. The purchaser should refer to any
applicable provisions of the securities legislation of the purchaser's province
for the particulars of these rights or consult with a legal adviser. 


On June 11, 2013 the Company filed the Unaudited Condensed Interim Financial
Statements as at and for the Six Months Ended April 30, 2013 and the
Management's Discussion and Analysis for the same period. 


Olivut is a diamond exploration company with a 100% mineral interest in over
130,000 acres in the HOAM Project in Canada's Northwest Territories and an
agreement with Latin American Minerals Inc. and certain of its Paraguayan
subsidiaries to explore the Itapoty Diamond Project located in central Paraguay,
South America. Please visit www.olivut.com for detailed corporate and project
information. 


This press release contains forward-looking statements with respect to the
Company, and matters concerning the raising of additional capital, the business,
operations, strategy, and financial performance of the Company. Actual results
may differ materially from those indicated by such statements. These statements
generally, but not always, can be identified by use of forward-looking words
such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe"
or "continue" or the negative thereof or similar variations. All statements,
other than statements of historical fact, included herein, including, without
limitations statements regarding future production, are forward-looking
statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements.
Such forward-looking statements are qualified in their entirety by the inherent
risks and uncertainties surrounding future expectations, including that the
estimates and projections regarding the Company's properties are realized.
Forward-looking statements are based on a number of assumptions which may prove
to be incorrect. Unless otherwise stated, all forward looking statements speak
only as of the date of this press release and the Company does not undertake any
obligation to update such statements except as required by law. 


Paul Pitman, P.Geo., and Martin Jackson, MAusIMM, Qualified Persons as defined
by National Instrument 43-101, have reviewed the contents of this press release
for the HOAM Project and the ITAPOTY Project respectively. 


Leni Keough, P.Geo., President and Chief Executive Officer 

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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Olivut Resources Ltd.
Leni Keough
President and Chief Executive Officer
(780) 866-2226
www.olivut.com

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