VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2012) - Otis Gold Corp. ("Otis" or the "Company") (TSX VENTURE:OOO)(OTCQX:OGLDF) is pleased to announce that Dr. Roger Norwich has joined the Company as a Director. Dr. Norwich was a founding Director of formerly TSX-V listed Mexican Silver Mines Ltd, which completed a merger with Rio Alto Mining Limited ("Rio Alto") in 2009. He remains an Independent Director of Rio Alto, which since the merger has grown from a development stage operation to a significant gold producer that has poured 114,000 of ounces of gold in the first six months of 2012.
Currently, Dr. Norwich is non-Executive Chairman of Mexico-based Grupo Minero Panuco, a private company which has extensive producing copper, gold and molybdenum assets. Additionally, he has wide-ranging board experience with both publicly-listed and private enterprises. Most recently, he joined the Board of Directors of Inkron Limited, a private company based in Hong Kong which is involved in nanometal (nanocopper and nanosilver) production for the electronics industry.
Dr. Norwich has a BA in Geology and Archaeology (1974) from Manchester University England. He also holds MB Bachelor of Medicine and ChB Bachelor of Surgery degrees from Manchester University. Early in his career, he worked as an oil exploration Geologist for Texaco and gained experience in the North Sea, the Gulf of Mexico and the Permian Basin.
States Otis President and CEO Craig Lindsay: "We are very pleased to have someone of Roger's caliber join our Board of Directors. His active experience with Rio Alto and Panuco as they moved from development companies to producers will be of significant benefit to Otis as we continue to progress the Kilgore Gold Project on a path to production."
The Company also advises that up to 2,000,000 stock options having an exercise price of $.15 per common share have been granted to various directors, officers and consultants of the Company. The options have been granted in accordance with the terms of the Company's 10% rolling Stock Option Plan approved on December 19, 2011 and the Policies of the TSX Venture Exchange.
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 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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