Olivut Resources Ltd. is an exploration and development company that commenced trading on the TSX Venture Exchange (TSX-V:OLV) Toronto, Canada on January 10, 2007. 

The Company is well financed with approximately $4.3 million in working capital at October 31, 2009.  There are 31,650,637 common shares issued and outstanding.

The Company’s principal asset is a 100% interest in over 2 million acres (>800,00 hectares) comprising the HOAM Project in the Interior Plains region of Canada's Northwest Territories. This region is considered to be favourable for the emplacement of diamond bearing kimberlites and Olivut has numerous targets defined for drilling.

Highlights of the 2009 exploration program include the following:
·         a total of 23 kimberlite discoveries to date on the HOAM project
·         18 holes drilled in 2009, 10 intersected kimberlite
·         discovery of 5 new kimberlite occurrences
·         caustic fusion returned limited number of microdiamonds
·         drilled targets apparently not source of diamond stability field
          indicator minerals; expanded program being designed to establish
          and test other anomalies
·         Uruguay exploration program underway
·         well financed to conduct ongoing exploration

The Company signed an Option Agreement with Uruguay Mineral Exploration Inc. on May 26, 2009, which announced a name change on January 7, 2010 to Orosur Mining Inc. (“Orosur” or “OSI” – TSX-V: OSI) whereby Olivut may earn up to an 80% interest in diamond prospecting and exploration licenses (the “Properties”) located in northern Uruguay, South America. These Properties are held by Cinco Rios S.A., a wholly owned subsidiary of Orosur.  Olivut must incur a minimum expenditure of $CDN250,000 by June 1, 2010 and a total of $CDN750,000 by December 31, 2011 in order to acquire a 51% interest in the Properties.

In December 2009 diamond exploration began in Uruguay, South America.  Olivut is operator for the exploration program and is anticipating a productive season in this relatively unexplored region.  A combination of geophysical and geomorphological targets, along with excellent geochemistry, provides the focus for the initial exploration program that includes sampling, geophysics and drilling.  The stable craton of Uruguay is consistent with that of southern Africa and provides a high degree of encouragement that diamondiferous kimberlite bodies could occur in the region.

The community of Fort Simpson is located approximately 15 kms from the HOAM property in the south and the village of Deline is located about 20 kms from the project area in the north.  This region, prior to Olivut’s involvement in the area, was subjected to little modern exploration techniques. High resolution, regional magnetic geophysical surveys, detailed heli-mag geophysical surveys and geochem sampling programs all conducted by Olivut have identified several favourable areas for kimberlite emplacement. A National Instrument 43-101 Technical Report (see Nov.27,2006) written by Paul Pitman, P.Geo. details the merits of the HOAM Project.