Olympus Pacific Minerals Inc., Chief Executive Officer, John Seton, is pleased to announce production results from its Phuoc Son and Bong Mieu Gold Plants ending September 30, 2011 set out below.  By way of market guidance, production for October was 5,032 oz and forecast production leads the Company to expect that its 2011 annual production forecast of 40,000 ounces will be achieved despite commissioning of the Phuoc Son Gold Plant having been delayed several months due to record-breaking monsoon rains.

Consolidated Production Ending September 30, 2011

	Q1/11	Q2/11	Q3/11	YTD	2010
Tonnes Milled	37,163	49,497	74,974	161,634	138,779
Grade (g/t Au)	4.33	5.32	6.22	5.51	9.35
Mill Recoveries %	75	82	87	83	80
Gold Production	3,868	5,717	12,482	22,067	33,234
Gold Sales	4,935	-	7,314	12,249	29,186

During the third quarter the Company's gold sales totaled 7,314 ounces for proceeds of $12,464,450 with an average realized price of US$1,704 per ounce.

On September 30, 2011, 6,882 oz of gold bullion and 3,132 oz of gold doré bars were on hand. Gold bullion can be sold and cash transferred within three business days.

Phuoc Son Underground Project Ending September 30, 2011

	Q1/11	Q2/11	Q3/11	Yth	2010
Tonnes milled	496	7,970	35,460	43,926	75,116
Grade (g/t Au)	12.21	11.20	9.65	9.96	13.08
Mill recoveries (%)	83	92	92	92	82
Gold production (ounces)	162	1,455	9,636	11,253	26,199

The Phuoc Son mill now regularly operates at its current design capacity of 500 tonnes per day.  The Company continues to mine the Bai Dat mine while developing the Bai Go mine that is expected to be on ore by March 2012.

Bong Mieu Gold Project Ending September 30, 2011

	Q1/11	Q2/11	Q3/11	Yth	2010
Tonnes milled	496	7,970	35,460	43,926	75,116
Grade (g/t Au)	12.21	11.20	9.65	9.96	13.08
Mill recoveries (%)	83	92	92	92	82
Gold production (ounces)	162	1,455	9,636	11,253	26,199

Bong Mieu gold production for the third quarter of 2,846 ounces decreased compared to the previous quarter by 1,416 ounces resulting from decrease in ore feed, recovery rate and tonnes milled during general maintenance of the plant. Repairs and rehabilitation of the plant commenced on September 22, 2011, and completed late October 2011. Activities included replacement, maintenance, and optimization of equipment to improve gold recovery.

Olympus is a diversified gold company focused on four advanced properties; the Bau Goldfield in East Malaysia, the Bong Mieu and Phuoc Son mines in Central Vietnam, and Capcapo in the Philippines.

The Company expects to substantially expand its combined gold production capacity by 2014. East Malaysia is our primary focus, and Phase One of Bau Central is now in full feasibility (See Olympus press release dated September 8, 2011).Vietnam will continue its production development activities to enable continued cash contribution to assist in funding a significant portion of our future development expenditures. Olympus also contemplates an increase of its attributed gold resources through the exploration of advanced properties having demonstrably large upside potential.

Olympus Pacific Minerals Inc.

John A.G.Seton
Chief Executive Officer

For further information contact:

James W. Hamilton,
Vice-President Investor Relations

T: 1 (416) 572-2525
TF: 1 (888) 902-5522
F: 1 (416) 572-4202

info@olympuspacific.com

The technical information in this press release has been prepared under the supervision of Mr. Rod Murfitt who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM), a "Competent Person", as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve" and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. Mr. Murfitt consents to the inclusion in this press release of the technical information, in the form, and context in which it appears.