Olympus
Pacific Minerals Inc.’s (OTCBB:OLYMF) (TSX:OYM) (FRANKFURT:OP6) Chairman, and
Chief Executive Officer Mr. David Seton, is pleased to announce that the
Company has authorized Macquarie Bank Limited (MBL) to act as sole arranger for
project loan facilities to fund mine expansion and plant construction at its
operating Phuoc Son Gold Mine in central Vietnam.
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Olympus
received an extension of their Phuoc Son mining license on August 13, 2009 (see
Olympus press release dated August 20, 2009) and will use the proceeds of the
loan to complete construction and development of the Phuoc Son Gold Mine, which
will be capable of delivering annualized gold production of 80,000 ounces by
late 2010.Olympus is a gold exploration and production company employing some
480 employees of which 90% are Vietnamese. Once the Phuoc Son Gold Plant is
fully completed, the Company will employ approximately 800-900 workers offering
good wages and benefits in the safest possible work environment. The Company
believes in Corporate Social Responsibility and cares about the employees and
the people who live and work around the mining operations. The Company has
contributed to the community in many ways; road improvements, Clean water
project (supplies clean water to 500 households) Women Wellness Programs,
Agricultural Sustainability Programs, Academic Scholarships, Assistance for
Minority Groups, Houses for the Poor and donations to various sport programs.
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