Otish Energy Closes Guyana Purini Gold Project Assignment Agreement With Trevor Taylor
February 22 2011 - 9:00AM
Marketwired
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.
Contacts: Otish Energy Inc. Steve Smith President 604-642-0115
steve.smith@telus.net www.otishenergyinc.com
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