The International Fencing Federation has offered South Korean Shin A Lam a "special medal" after her controversial epee semi-final defeat.
Shin refused to leave the piste for 70 minutes as a written appeal against her defeat by Britta Heidemann was heard and rejected.
The South Koreans had a further appeal rejected on Tuesday but Shin was not appeased by the prospect of the award.
"It does not make me feel better. It's not an Olympic medal," she said.
"I don't accept the result because I believe it was a mistake."
Shin looked to have beaten Heidemann only for the clock to be reset with one second remaining of sudden death.
Heidemann then managed to score a decisive hit for a 6-5 win.
After her protest, Shin reappeared for the bronze-medal match but was beaten by China's Yujie Sun.
Korean Olympic Committee president Park Yung-Sung said: "They know they are very sorry about her and they have to recognise her sporting spirit."
Shin went on to lose her bronze medal match to China's Yujie Sun but is set to compete in the team event on Saturday.