Otis Gold Files Updated Blue Hill Creek and Matrix Creek NI 43-101 Technical Report

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 23, 2016) – Otis Gold Corp. (TSXV:OOO) is pleased to announce that it has received and filed a NI 43-101 Technical Report and Resource Estimate for the Blue Hill Creek and Matrix Creek Gold-Silver Properties located in Cassia County, Idaho. The report is available on Sedar (www.sedar.com) and the Company’s website, and updates and replaces a NI 43-101 Technical Report dated February 28, 2008 and entitled “Blue Hill Creek Gold Project – Geology, Mineralization, Resource Potential, Cassia County, Idaho (see News Release dated June 24, 2016). Blue Hill Creek and Matrix Creek comprise a significant portion of what is referred to by Otis as the Oakley Project. The Mineral Resource Estimate was prepared by Mr. Zachary Black of Hard Rock Consulting Inc. and the lead author of the report was Dr. John F. Childs of Childs Geoscience Inc.

Notes:

1. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted to into Mineral Reserves.
2. Inferred Mineral Resources captured within the pit shell meet the test of reasonable prospect for economic extraction and can be declared a Mineral Resource.
3. All resources are stated above a 0.31 gpt gold cut-off.
4. Pit optimization is based on an assumed gold price of US$1,200/oz and mining, processing and G&A costs of US$7.99 per tonne and metallurgical recoveries for gold of 70%.
5. Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.
6. Gold ounces calculated from metric units using the following conversion rate: 1 troy ounce – 31.1035 grams and tons were calculated from metric units using the following conversion rate: 1 short ton = 0.907 tonnes.

The pit-constrained mineral resource estimate was drawn from a drill-hole database comprising 5 (five) core holes totaling 1,308 meters and 28 (twenty-eight) reverse circulation drill holes totaling 3,403 meters. The drill-hole database contains gold assay analytical information for 2,224 sample intervals. Assay grades were capped at 1.8 gpt. A three dimensional block model using the inverse distance squared (ID^2.5) methodology was created using MicroModel mining software. Mineral Resources were classified as Inferred based on, among other things, drill hole spacing, confidence in the assaying for drilling and geologic confidence in grade continuity.

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