OOO. Otis Gold Corp

Otis Raises $500,000 Through Sale of Non-Core Asset

Otis Raises $500,000 Through Sale of Non-Core Asset

VANCOUVER, British Columbia, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Otis Gold Corp. (“Otis” or the “Company”) (TSX-V: OOO) (OTC: OGLDF) is pleased to announce that it has raised a total of $502,500 through the sale of its remaining 750,000 common shares of Revival Gold Inc. (“Revival”). Following the sale, Otis retains exposure to Revival through a 1.0% net smelter royalty on 16 federal lode mining claims totaling approximately 331 acres of what is known as the Arnett Creek Project, Lemhi County, Idaho. The royalty is subject to a US$2 million buyback option in favour of Revival. The sale of these shares provides non-dilutive capital to fund the ongoing development of the Kilgore and Oakley Projects and for general working capital purposes. The shares in Revival were received in June 2017 as partial compensation for the sale of two non-core claim blocks known as the Hai and Gold Bug Projects (see Otis News Release dated June 30, 2017), and the area is currently subject to an ongoing drilling program by Revival (see Revival News Release dated Dec. 4, 2018).

Otis President and CEO, Craig Lindsay, stated: “Over an 18-month period we converted 16 non-core mining claims into total cash of approximately $1,900,000, and still retain exposure going forward to the exciting Arnett Creek project in the form of a net smelter royalty. We will closely follow Revival’s ongoing progress at Arnett Creek, and wish them well in their development activities.”

About the Company 

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

ON BEHALF OF THE BOARD

“Craig T. Lindsay”

President & CEO

For additional information, please contact:

Mr. Tony Perri – Corporate Development 

Tel:  (604) 424-8100  Email: 

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 “US Securities Act”) or any State securities laws, and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable State securities laws, or an exemption from such registration is available.

EN
12/12/2018

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OOO.Otis Gold Corp

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Reports on Otis Gold Corp

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OOO. OTIS GOLD CORP

Otis Options Oakley Project to Centerra Gold

Otis Options Oakley Project to Centerra Gold VANCOUVER, British Columbia, March 09, 2020 (GLOBE NEWSWIRE) -- Otis Gold Corp. (“Otis” or the “Company”) (TSX-V: OOO) (OTC: OGLDF) is pleased to announce that a definitive option agreement (the "Oakley Agreement") has been executed by Centerra Gold Inc. (“Centerra”) to earn up to a 70% interest in the Oakley Property (the “Oakley Project”) in exchange for total exploration expenditures of US$7,000,000 and cash payments to Otis of US$550,000 over a 6 year period. Highlights Centerra can earn a 51% interest in Oakley (the “First Option”) by i...

March 9, 2020 1 EN
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OOO. OTIS GOLD CORP

Otis Significantly Extends Mineralization at Kilgore

Otis Significantly Extends Mineralization at Kilgore VANCOUVER, British Columbia, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Otis Gold Corp. (“Otis” or the “Company”) (TSX-V: OOO) (OTC: OGLDF) is pleased to announce that results from the Fall 2019 drill program at the Kilgore Project indicates gold mineralization extends to the west and the south of the existing Kilgore Deposit. Specifically, assays from hole 19OKR-384, drilled to the west of the Kilgore Deposit, intercepted 158.5 metres (or “m”) averaging 0.23 grams per tonne (“g/t”) gold  (or “Au”) including 51.8m grading 0.48 g/t Au, with gold ...

February 5, 2020 1 EN
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Federal Court Issues Final Judgement/Order Confirming Good Status of K...

Federal Court Issues Final Judgement/Order Confirming Good Status of Kilgore Permit VANCOUVER, British Columbia, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Otis Gold Corp. (“Otis” or the “Company”) (TSX-V: OOO) (OTC: OGLDF) reports that Idaho federal district court Judge B. Lynn Winmill issued a final Judgment in Idaho Conservation League et al v. U.S. Forest Service (the “Complaint”) on January 16, 2020 that confirms Otis’ continued legal right to conduct exploration activities, including drilling, at the Kilgore Project, Clark County, Idaho.  This Judgment, which is a final step in the court’s...

January 20, 2020 1 EN
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Kilgore Project Achieves >92% Gold Recoveries

Kilgore Project Achieves >92% Gold Recoveries VANCOUVER, British Columbia, Jan. 08, 2020 (GLOBE NEWSWIRE) -- Otis Gold Corp. (“Otis” or the “Company”) (TSX-V: OOO) (OTC: OGLDF) is pleased to announce up to 92.6% gold recovery from column leach metallurgical testing of near-surface mineralized volcanic rock at its Kilgore Project. The test samples came from drill hole 17OKC-379, a larger diameter PQ drill hole that contained a true width interval of 120 feet (35.6 metres) with a calculated head grade of 1.49 g/t Au; the PQ core hole was a twin of 17OKC-356. Highlights: Gold extraction of...

January 8, 2020 1 EN
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Federal Court Confirms Status of Kilgore Plan of Operations

Federal Court Confirms Status of Kilgore Plan of Operations VANCOUVER, British Columbia, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Otis Gold Corp. (“Otis” or the “Company”) (TSX-V: OOO) (OTC: OGLDF) is pleased to report that Idaho federal district court Judge B. Lynn Winmill issued a decision in Idaho Conservation League et al v. U.S. Forest Service (or “Forest Service”) that confirms Otis’ right to operate under the five year Plan of Operation issued to Otis in 2018 at its Kilgore Project, Clark County, Idaho. Judge Winmill found the Forest Service adequately evaluated the potential environmenta...

December 19, 2019 1 EN

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