Otis Gold Corp. (TSX:OOO) ("Otis" or the "Company") is pleased to announce that
it has just received permits from the U.S. Forest Service ("USFS") and the
Bureau of Land Management ("BLM") to drill its Buckhorn High-Grade Silver
Project (the "Buckhorn Project" or "Buckhorn") located in Lemhi County, Idaho.
The planned drilling comprises a 1,000 metre ("m"), seven-hole program designed
to test multi-ounce silver chip-channel intervals obtained from shallow trenches
in the fall of 2009 (see Otis News Release dated December 17, 2009). These
trenches are situated in gossan-rich zones along a 2.7-km-long range-front fault
structure controlled by Otis. Highlights of this trench sampling include 16.5 m
grading 236.6 grams per tonne silver ("g/t Ag"), further including a 5.8 m
section assaying 462.9 g/t Ag. The Buckhorn Project is a silver-rich manto or
Leadville-type replacement target that could contain significant grades of
primary high-grade silver mineralization below the zone of oxidation. Several of
Otis' holes are planned to test the range-front fault proximal to the trenches
containing the high-grade silver channel samples. The property is located 36
miles south of Salmon, Idaho. Commencement of the drill program is currently
weather dependent.


Historic exploration conducted at the Buckhorn Project includes 365 m of
underground workings, a shallow air-rotary hole that encountered 12 m of
mineralized material grading 411 g/t Ag (1979 Sunshine Mining Company notes),
numerous prospect pits and trenches developed on surface gossan shows, and
property reviews conducted by the U.S. Bureau of Mines during the period from
1952 to 1955. Otis' trenching program confirms initial grab samples that contain
up to 900 g/t silver with substantial lead and zinc credits. Geologic controls
of mineralization are previously summarized in the Company's News Release dated
December 17, 2009. High-grade silver and additional target types existing at
Buckhorn include: 1) Leadville silver-lead-zinc manto replacements in
Mississippian limestone; 2) a precious metals porphyry system at depth; and 3)
gold associated with marbleized limestone.


Otis is leasing the Buckhorn Project from M3 Resources LLC (the "Vendor"), Idaho
Falls, Idaho. Terms of the revised and finalized agreement dated October 12,
2010, allowing Otis to earn a 100% interest in the Buckhorn, include a $36,000
cash payment, issuance of 100,000 shares to the Vendor upon TSXV approval and a
requirement of $110,000 in property expenditures by July 2011. Additional terms
include paying the Vendor an Advanced Minimum Royalty ("AMR") of $25,000 in
2011, $30,000 per year thereafter, and a 3.5% NSR should the property go to
production.


Additionally, Otis reports it has just completed its 2010 Kilgore Project
drilling program. This drilling comprises 40 core holes spread over 7,750 m in
the Mine Ridge bulk-tonnage gold deposit and Dog Bone Ridge geophysical target
areas. Drill results will continue to be released as they become available.


John R. Carden, Ph.D., Lic. Geo., a Qualified Person as defined by National
Instrument Policy 43-101, is responsible for the technical information contained
in this News Release.


About the Company

Otis is a resource company focused on the acquisition, exploration, and
development of precious metal deposits in Idaho. Otis is currently developing
its flagship property, the Kilgore Gold Project, located in Clark County, Idaho.


ON BEHALF OF THE BOARD

Craig T. Lindsay, President and CEO

This press release contains forward-looking information within the meaning of
applicable securities laws relating to the closing of the PP. The use of any of
the words "intend", "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions may identify forward-looking information. Readers should not
place undue reliance on the forward-looking information contained in this press
release. 


The forward-looking information contained in this press release is made as of
the date hereof and the Company undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new information,
future events or otherwise, unless so required by applicable securities laws.


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any securities in the United States. The securities have not been
and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
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