Olivut Resources Ltd (Olivut) is a Canada-based company, engaged in in the acquisition, exploration and evaluation of properties for the purpose of mining precious minerals. As of October 31, 2012, the Company had two projects: HOAM Project and Itapoty Diamond Project. The Company has 100% interest in its HOAM Project, which is located in the Mackenzie Region, Northwest Territories, Canada. As of October 31, 2012, HOAM project has made 29 kimberlite discoveries. The Company focused on drilling on magnetic anomalies identified by ongoing analyses of detailed airborne magnetic surveys of prospective new target areas. The discovery hole intersected kimberlite at 32 metres and was stopped in kimberlite at 120 metres. Itapoty Diamond Project located in central Paraguay, South America. The Company has the option to earn a 50% interest in the Itapoty Diamond Project. As of October 31, 2012, Itapoty Diamond Project had recovered 59 diamonds by Latin American Minerals Inc.(LAT).