Otish Energy Inc.
TSX VENTURE : OEI

Otish Energy Inc.

December 17, 2010 10:41 ET

Otish Energy Options Kaburi Gold Project in Guyana, SA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2010) - Otish Energy Inc. (the "Company") (TSX VENTURE:OEI) pleased to announce it has signed a letter of intent with Misters Clinton and Henry Alphonso, of Georgetown Guyana, SA, whereby the Company will acquire all of the hardrock mining rights (the "Rights") in the Guyana Geology and Mines Commission Large Scale Prospecting Licence No. 01/2009 in the Kaburi Area, Mazaruni, Guyana SA. 

The consideration payable by the Company for the purchase of the Rights will be one hundred and fifty thousand US dollars (US$150,000) and 900,000 common shares in the capital of the Company which shares will subject to the usual 4 month restricted period required by the TSX Venture Exchange and applicable securities legislation.

The purchase of the Rights is subject to due diligence by the Company and the completion of formal documentation.

The first step in evaluating this Property the Company intends to undertake an independent NI 43-101 Report which will recommend an initial exploration program.

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.

On Behalf of the Board of Otish Energy Inc.

Steve Smith, President

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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