Otish Energy Inc.
TSX VENTURE : OEI

Otish Energy Inc.

February 22, 2011 09:00 ET

Otish Energy Closes Guyana Purini Gold Project Assignment Agreement With Trevor Taylor

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2011) - Otish Energy Inc. (the "Company") (TSX VENTURE:OEI) is pleased to announce that its wholly owned Guyanese subsidiary, Otish Gold (Guyana) Inc has closed the Assignment Agreement ("Agreement"), as announced in Stockwatch June 26, 2010, with Trevor Taylor ("Taylor") of Ajax, Ontario whereas Otish will have exclusive and sole right in the contiguous land block comprised of five (5) Mining Permits - and Taylor's exclusive and sole right to purchase Henry Alphonso's ("Alphonso") (1) Prospecting Permit – Medium Scale (PPMS) totaling in area approximately 9000 acres located in Puruni, Mazaruni Mining District No. 3, Guyana (the "Property").

The Property

The Property is located in the tropical rain forest on the Puruni River about 160 km southwest of Georgetown, the capital of Guyana. The nearest developed settlement is Bartica, approximately 90 km away at the junction of the Essequibo, Mararuni and Cuyuni Rivers. The Property can be reached by road, helicopter or river boat. A gravel road from the mouth of the Mazaruni River passes within a few hundred meters of the property. The helicopter trip takes about 30 minutes from Cheddi Jagan International Airport at Timerhi.

Otish has completed a NI 43-101 compliant Technical Report describing the details of the exploration project at the Property. The report was completed by Ulrich H. Kretschmar PhD, PGeo., of Orillia, Ontario. Mr Kretschmar is a Qualified Person for the purpose of Canadian NI 43-101, Standards of Disclosure for Mineral Projects.

The report provides the first detailed summary of the geology, history and exploration of the Purini Property. The report is available at www.sedar.com and is available on the Company's website at www.otishenergyinc.com.

On Behalf of the Board of Otish Energy Inc.

Steve Smith, President

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.

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