Recent Updates

February 09, 2010: Otis Discovers Significant CSAMT Anomalies Underlying Kilgore’s Dog Bone Ridge Gold Target Area (more)

December 17, 2009: Otis Gold Samples 16.5 Metres Grading 237 G/T Silver at Buckhorn Property (more)

December 16, 2009: Otis Drills High-Grade and Bulk-Tonnage Intercepts at Kilgore. (more)

December 2, 2009: Otis Gold Posts Updated Financial Statements. (more)

November 13, 2009: Otis Gold Closes Forced Conversion of Warrants. (more)


Resource Table

Project Target Blue Hill Creek Cold Creek Kilgore Gold Deposit Kilgore Gold Deposit Kilgore Gold Deposit Kilgore Gold Deposit
Resource Category Inferred Inferred Indicated Inferred Measured Indicated
Tons (MM) 14.4 3.4 17 5.6 7.0 9.7
Grade Au (OPT) 0.016 0.025 0.0305 0.033 .031 .028
Grade Au (G/T) 0.548 0.857 1.05 1.13 1.060 0.96
Cut-Off Au (OPT) Note 1 0.01 0.01 0.01 0.01 0.01
Cut-Off Au (G/T) Note 1 0.34 0.34 0.34 0.34 0.34
Contained Ounces Au 235,000 85,000 520,000 186,000 218,000 269,000
Total Contained Ounces Au 1,513,000
Estimation Type G x T Polygonal Cross Sectional Cross Sectional Kriged Kriged
Status NI 43-101 Historic Historic Historic NI 43-101 NI 43-101
Source/QP Larry E. Pancoast, PGeo. Dr. John R. Carden Echo Bay Mines/M. Bernardi, MSc Echo Bay Mines/M. Bernardi, MSc Rayner/van Brunt Rayner/van Brunt
Property Ownership Right to earn in a 100% ownership interest. 100% Ownership Right to earn in a 75% ownership interest. Right to earn in a 75% ownership interest. Right to earn in a 75% ownership interest. Right to earn in a 75% ownership interest.


1. Notes:

1. G x T of .50.

2. Definitions:

i. Mineral Resources
A Mineral Resource is a concentration or occurrence of natural, solid, inorganic or fossilized organic material in or on the Earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge. Mineral resources are subdivided, in order of increasing geological confidence, into inferred, indicated and measured categories.

An Indicated Resourceis that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geologic and grade continuity to be reasonably assumed.

A Measured Resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geologic and grade continuity.

ii. Mineral Reserves
A Mineral Reserve is the economically mineable part of a measured or indicated mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A mineral reserve includes diluting materials and allowances or losses that may occur when the material is mined. Mineral reserves are subdivided in order of increasing confidence into probable mineral reserves and proven mineral reserves.

A Proven Reserve is the economically mineable part of a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.

3. Cautionary Notes

This summary table uses the term "resources", "measured resources", "indicated resources" and "inferred resources". United States investors are advised that, while such terms are recognized and required by Canadian securities laws, the United States Securities and Exchanges Commission (the "SEC") does not recognize them. Under United States standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Mineral resources that are not mineral reserve do not have demonstrated economic viability. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically.

It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher category. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure ounces is permitted disclosure under Canadian regulations, however, the SEC normally only permits issuers to report "resources" as in place tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in this release may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC.

National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all resource estimated contained in this circular have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. NI 43-101 permits and historical estimates made prior to the adoption of NI 43-101 that does not comply with NI 43-101 to be disclosed using the historical terminology if the disclosure: (a) identifies the source and date of the historical estimate; (b) comments on the relevance and reliability of the historical estimate; (c) states whether the historical estimates uses categories other than those prescribed by NI 43-101; and (d) includes any more recent estimates or data available. Resources for the Company's Kilgore and Cold Creek deposits are such historical estimates.

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