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Delivers Increased Gold Production at Bong Mieu

posted on May 07, 2009 07:52AM

May 7, 2009

Olympus Delivers Increased Gold Production at Bong Mieu

TORONTO, ONTARIO--(Marketwire - May 7, 2009) - Olympus Pacific Minerals Inc. (TSX:OYM)(OTCBB:OLYMF)(FRANKFURT:OP6) (the "Company" or "Olympus") is pleased to announce that the Company has completed the commissioning of the plant modifications at the Bong Mieu Gold Plant allowing the company to begin ramping up its production profile.

Results from the new plant modifications have delivered above expectations. April production at Bong Mieu has increased more than 250% compared to the monthly averages achieved in 2008. The table below illustrates production results for the Bong Mieu Gold Plant from January through to April 2009.

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Production Statistics
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                                                      2009
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                                      Jan        Feb        Mar         Apr
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Gold Produced (ounces)                917        762      1,013       2,494
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Mill Feed/Ore Treated (tonnes)     12,687     11,972     12,918      12,369
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Mill Head Grade (grams/tonne)         4.4        3.5        4.2         9.1
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Mr. Charles Barclay, Chief Operating Officer said that we are now confident our plant can continue to deliver at and above these levels achieving the Company's objective of becoming cash flow positive this quarter. Mr. Barclay continued to say the plant modifications were completed ahead of schedule and below budget.

The Bong Mieu Gold Plant modifications represent the first phase of the Company's plans to expand production over the next four years to some 150,000 to 190,000 ounces of gold on an annualized basis.

Olympus Pacific Minerals Inc., as first mover in Vietnam, is positioned to become a leading gold producer and explorer in Southeast Asia. The Company is committed to its vision of producing gold from its reserves and making major discoveries in the region and increasing shareholder wealth.

OLYMPUS PACIFIC MINERALS INC.

David A. Seton, Chairman and Chief Executive Officer

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