Otish Energy Inc.
TSX VENTURE : OEI

Otish Energy Inc.

November 20, 2009 13:10 ET

Otish Energy Acquires the Lac Des Coudes Copper-REE Property, Lac St-Jean Area, Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2009) - Otish Energy Inc. (the "Company") (TSX VENTURE:OEI) has entered into a property purchase and sale agreement (the "Agreement") with Robert Gagnon (the "Vendor"), from Val-D'Or, Quebec, to acquire (the "Acquisition") a 100% interest in 18 mineral claims forming the Lac Des Coudes Property in the Bourbon Township, Lac-St-Jean Area of Quebec (the "Property"). In consideration of the Acquisition, the Company has agreed to pay the Vendor the sum of $20,000 and issue 120,000 common shares in its capital stock, over a period of two years. The property is subject to a 2% NSR in favor of the Vendor. The Company will have the option to reduce the NSR, at any time, to 1% for a cash payment of $1,000,000 to the Vendor.

The Lac Des Coudes Property covers approximately 1,015 hectares and is located roughly 150 kilometres northwest of Chicoutimi, Quebec. A major logging road transects the Property providing an excellent access. Best grab samples from the Lac Des Coudes Property yielded values up to 1.09% in copper (Cu) and 0.5% in total rare earth elements (TREE). These samples came from outcrops presenting a strongly hematized quartz undersaturated facies that hints the presence of a larger alkaline intrusive.

About Otish Energy : The Company explores for unconformity-type uranium deposits, both above and below the basin unconformity, as well as for RRE deposits.

Benoit Moreau, P. Eng. Vice President, Exploration for Otish Energy, is a qualified person (is such is defined in National Instrument 43-101) and is responsible for the geological information presented herein.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information