1. Preheat oven to 400°. Combine first 5 ingredients in a food processor; pulse until mixture resembles coarse crumbs. Add milk, pulsing until mixture forms a ball.
2. Shape 1 heaping teaspoon dough around each olive, forming the dough into a ball. Place on an aluminum foil-lined baking sheet, and sprinkle lightly with paprika. Bake 15 minutes.