Olivut Resources Ltd. provided an exploration update. Results of recent further sample analyses from the Seahorse Project, a 50/50 joint venture between the Company and Talmora Diamond Inc., have become available. Saskatchewan Research Council has reported the recovery of one macrodiamond from caustic fusion analysis of a beach sand heavy mineral concentrate sample weighing 1.8 kg taken proximal to the main Seahorse target.

The macrodiamond has dimensions of approximately 1.9mm x 1.4mm and weighs 5.2628 mg. The diamond is described as off-white, transparent, distorted, octahedral, and having minor resorption with inclusions and surface pitting. In addition, Dr. Malcolm McCallum and associate in laboratory facilities located in Loveland, Colorado, have identified a microdiamond.