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EPA Recommends Approval of Keysbrook Project

Tuesday, October 30th, 2007

The Board of Olympia Resources Limited is pleased to announce that the Western Australian Environmental Protection Authority has recommended approval for the Company’s Keysbrook Mineral Sands project.
· The Environmental Protection Authority has recommended approval for the Olympia Resources Limited Keysbrook Mineral Sands Project
· The recommendation is subject to a number of conditions which Olympia must adhere to when developing and managing the project
· The Company is confident it can meet all EPA conditions and establish a successful operation
· The EPA report on the project clears the way for Ministerial approval for titanium minerals and zircon production at the site
· Olympia will now seek local government approval to begin development of the Keysbrook mine in the second half of next year
· Once in operation the Keysbrook mineral sands mine is projected to produce an average of $10 million in net operating cash flow per year over its 8 year mine life
For further information visit: www.olympiaresources.com

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