OOO Otis Gold Corp

Otis Gold Corp. ("Otis" or "the Company") (TSX VENTURE:OOO)(OTCQX:OGLDF) wishes
to announce it has closed the first tranche of its previously announced
non-brokered private placement and has issued 7,042,500 units at a price of
$0.20 per unit, for aggregate gross proceeds of $1,408,500. Each unit consists
of one common share and one-half of one share purchase warrant (each whole share
purchase warrant being a "Warrant"). Each Warrant will be exercisable to
purchase one additional common share of the Company for 18 months from closing,
at a price of $0.30 per share. The net proceeds from this private placement will
be used to advance exploration activities at the Kilgore Gold Project and for
general working capital purposes. 


Finder's fees of $64,575 have been paid in cash and 322,875 finders warrants
have been issued to qualified parties. All securities issued have a hold period
expiring July 23, 2012.


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 & CEO

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.

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