Pierre Lassonde Increases Ownership in Olivut Resources Ltd.

TORONTO, Oct. 7, 2015 /CNW/ - Mr. Pierre Lassonde announced yesterday that he has recently purchased 571,429 flow through shares of Olivut Resources Ltd. (TSX-V: OLV) (the "Company") through the facilities of the TSX Venture Exchange.

As a result of these recent purchases, Mr. Lassonde currently owns or exercises control and direction over 6,847,000 common shares of the Company. Mr. Lassonde's current shareholdings represent approximately 16.7% of the current issued.  Mr. Lassonde has further advised the Company that he has acquired the additional 571,429 common shares for investment purposes.  He has indicated that he will review his holdings from time to time and that he may increase or decrease his position as future circumstances may dictate.

SOURCE Pierre Lassonde

Pierre Lassonde, c/o Suite 1900, Box 2005, 20 Eglinton Avenue West, Toronto, Ontario M4R 1K8, Tel: [phone].