OOO Otis Gold Corp

Otis Gold Corp. ("Otis" or the "Company") (TSX VENTURE:OOO) announces that is
has increased the size of the Private Placement initially announced on October
18, 2010.


On October 18, 2010 Otis announced the private placement of up to 4,000,000
units at a price of $0.55 per unit for aggregate proceeds of up to $2,200,000.
Due to increased investor interest, the Private Placement will now total
4,990,000 units for aggregate gross proceeds of $2,744,500. The units consist of
one common share and one warrant. Each warrant may be exercised for 18-months
from closing to purchase one additional common share for $0.80.


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 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 Private Placement. 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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