Total commissions of $29,671.20 were paid by the company to agents as consideration for arranging the
offering. The company also issued agent warrants, which entitle the agents to purchase up to 355,474
common shares of the company at a price of at a price of 10 cents per share until August 20, 2011 and at a
price of 15 cents per share until August 20, 2012.

The securities issued pursuant to this offering, and any common shares to be issued upon the exercise of
the warrants and agent’s warrants are subject to a hold period expiring December 21, 2010.
On Behalf of the Board of Otish Energy Inc.

“Steve Smith”
President

This report is written in compliance with requirements of National Instrument 43-101 and Form 43-101F1 and is in support of documentation to be filed with the British Columbia Securities Commission and the TSX Venture Exchange in support of Otish Energy Inc. entering into a purchase agreement with Trevor Taylor on the Puruni Project area (Henry Alphonso and Salim Kayum Permits).

The report provides the first detailed summary of the geology, history and exploration of the Puruni Property. The report is available at www.sedar.com and will be added to the company’s website at www.otishenergyinc.com.

The NI 43-101 Technical Report for the Puruni Project was completed by Ulrich H. Kretschmar PhD, P.Geo (ON), of Orillia, Ontario. Mr Kretschmar is a Qualified Person for the purpose of Canadian NI 43-101, Standards of Disclosure for Mineral Projects.

The author of the Report collected 15 samples of saprolite, alluvium, sluice box tailings, black sand, and grab samples of bedrock quartz veins material with visible gold from the property. The quartz veins grab samples returned assays of 40.5 oz Au/ton (1390 g/t), 61.1 oz Au/ton (2090 g/t), 215.5 oz Au/ton (7389 g/t), and 397.2 oz Au/ton (13618 g/t) – duplicate ran 430.6 oz Au/ton (14764 g/t), while sluice box tailings returned 0.81 oz Au/t (27.7 g/t) and 0.99 oz Au/t (34.2 g/t)

The Puruni Project area (Alphonso and Kayum Permits) consists of five (5) Mining Permits – Medium Scale (MP) and one (1) Prospecting Permit – Medium Scale (PPMS) totalling in area approximately 36 km2 (approx. 9000 Acres). These Mining and Prospecting Permits were acquired from the Guyana Geology and Mines Commission – the statutory body responsible for Exploration & Mining in Guyana, by Henry Alphonso and Salim Kayum of Georgetown, Guyana in 2003. The permits are traversed by the Puruni River in the middle Puruni River Area, Mazaruni Mining District No.3, Guyana, N.T.S. Sheet Puruni – 26 SW.

The northernmost boundary of Puruni Project property lies approximately 2.5 km south of the Peters Mine Concession (Guyana Goldfields Inc. TSX – GUY.T) which was subjected to a number of regional airborne and ground exploration surveys that focused on the Peters Mine Concession. The Peters Mine was discovered in the 1890’s by porknockers (local terminology for placer miners/prospectors) and underground development and mining was in operation between 1904 and 1909. During this period approximately 1,240 kg (40,000 oz) of gold was recovered from 63,000 tons of material mined (a recovery grade of 19.7 g Au/T). It is reported that the head grade was in excess of 41 g Au/T.

The Puruni Project area has a well documented history of alluvial mining in the active river channel, saprolite mining on land adjacent to the river bank and lode gold underground mining at the Peters Mine. In early 2009, while mining the saprolite and elevated gravel terraces adjacent to the river bank, two high grade veins was uncovered similar in characteristics to the quartz veins mined at Peters Mine.
Randy Singh P. Geo (ON), P.Eng (ON) a “qualified person” as such term as defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the Company.
Guyana is the only English speaking country in South America and has demonstrated itself to be a mining-friendly and stable democratic country toward direct foreign investments in the mining sector. The Land Tenure Act, legal statutes and the legal system are based on the Roman Dutch Laws modified by British Common Laws. Guyana has well developed and uniformly administered tax laws, mining laws and general business systems, especially geared toward the mining sector that includes duty and tax-free imports for mining and forestry equipment.

Several major and successful natural resource deposits have been commissioned by foreign investors including (Omai Gold Mines) – IamGold Inc., (Aurora gold deposit) – Guyana Goldfields Inc., (Arorima Bauxite Mine) – United Company Rusal of Russia and (Guymine Bauxite Mine) – Bosai Mineral of China. There are also a number of Canadian junior exploration companies operating in Guyana including Sandspring Resources, Shoreham Resources, GMV Minerals, Gold Port Resources and First Bauxite Inc..

The Company plans to conduct a systematic exploration program to evaluate and develop the gold potential of the property, including line cutting, soil sampling, geological mapping and chip sampling, channel sampling of the quartz veins and saprolite, trenching, a ground gradient magnetic survey, followed by diamond drilling

On Behalf of the Board of Otish Energy Inc.

Mr. Steve Smith reports

OTISH ENERGY ANNOUNCES PRIVATE PLACEMENT

Otish Energy Inc. has negotiated, subject to the acceptance of the TSX Venture Exchange, a non-brokered private placement totalling $500,000. These funds will be raised by the company issuing up to 7,142,857 units at a price of seven cents per unit, each unit consisting of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder, on exercise, to purchase one common share for a period of two years, at a price of 10 cents during the first year and at a price of 15 cents during the second year.

Finders’ fees may be payable on a portion of the private placement, in accordance with the policies of the TSX Venture Exchange.

The net proceeds of the private placement will be used to further exploration on the company’s properties and for working capital purposes.

We seek Safe Harbor.

Mr. Steve Smith reports

OTISH ENERGY TO ACQUIRE ALPHONSO GOLD PROPERTY, PURINI, GUYANA

Otish Energy Inc. has signed an assignment agreement with Trevor Taylor of Ajax, Ont., whereas Mr. Taylor agrees to transfer to the company his exclusive and sole right to purchase all of Henry Alphonso and Salim Kayum’s right, title and interest in the contiguous land block comprising six medium-scale prospecting permits, comprising approximately 6,900 acres, located in Puruni, Mazaruni mining district No. 3, Guyana.

To earn the 100-per-cent interest in the property, the company must:

1. Pay to the optionors the sum of $10,000 on closing;
2. Upon receipt of a large-scale prospecting licence on the property:
   • Pay to the optionors the further sum of $40,000;
   • Issue to the optionors 700,000 common shares of the company and issue to Mr. Taylor 2.8 million common shares of the company;
   • Grant to the optionors a 2-per-cent net smelter royalty (NSR) on production from the property.
   • The company will have the right, at any time, to purchase 50 per cent of the NSR, being 1 per cent, upon payment to the optionors of the sum of $1-million and will have the further right to purchase the remaining NSR upon payment to the optionors of the further sum of $2-million.

The closing of this transaction is subject to a 30-day due diligence review by the company of the properties and receipt of TSX Venture Exchange approval.

The property

The property is located in the tropical rain forest on the Puruni River about 160 kilometres southwest of Georgetown the capital of Guyana. The nearest developed settlement is Bartica approximately 90 km away at the junction of the Essequibo, Mararuni and Cuyuni Rivers. The property can be reached by road, helicopter or river boat. A gravel road from the mouth of the Mazaruni River passes within a few hundred metres of the property. The helicopter trip takes about 30 minutes from Cheddi Jagan International Airport at Timerhi.

The property is bounded to the north by Guyana Goldfields Inc.’s Peters mine concession. The area around the property has been subjected to a number of regional airborne and ground exploration surveys that were focused on the Peters mine concession. The property has a history of alluvial and saprolite mining in the active river channel and on land adjacent to the river bank. A continuing land mining operation on the property, using pitting and hydraulicking, has exposed numerous large quartz veins similar to what was the discovery outcrop on the Peters mines concession in the late 1890s.

The property has a number of quartz veins exposed which seems to be similar in grade and character to the quartz veins at the Peters mine. Hand specimen has visible gold impregnated throughout the specimen and it is reported that most of the veins are similar to the hand specimen. The first step in evaluating this property is to have an independent geological National Instrument 43-101 completed which will recommend an initial exploration program that will include line cutting, soils sampling, geological mapping and chip sampling, channel sampling of the quartz veins and the saprolite, trenching, a ground gradient magnetic survey, and diamond drilling.

Prospecting licences

The term of a prospecting licence is for three years, with two rights of renewal of one year each. The Mining Act 1989 stipulates that three months prior to each anniversary date of licence, a work program and budget for the following year must be presented for approval for the work to be undertaken during the following year.

At any time during the term of the prospecting licence, and for any part or all of the prospecting licence area, the licensee may apply for a mining licence. This application will consist of a positive feasibility study, mine plan, an environmental impact statement and an environmental management plan. Rental for a mining licence is currently fixed at $5.00 (U.S.) per acre per year and the licence is usually granted for 20 years or the life of the deposit, whichever is shorter; renewals are possible.

Guyana

Guyana is a parliamentary-style democracy-based on proportional representation with an executive president and a unicameral National Assembly. Guyana has demonstrated itself to be a mining-friendly and stable democratic country toward direct foreign investments in the mining sector. Land Tenure Act, legal statute and the legal system are based on the Roman Dutch Laws modified by British Common Laws with magistrates’ court, a High Court and a Court of Appeal. Guyana has well developed and uniformly administered tax, mining laws and general business systems, especially geared toward the mining sector that includes duty and tax-free imports for mining and forestry equipment.

Several major and successful natural resource deposits have been commissioned by foreign investors including Omai Gold Mines-IamGold Inc., Aurora gold deposit — Guyana Goldfields Inc., Arorima Bauxite Mine-United Company Rusal of Russia and Guymine Bauxite Mine — Bosai Mineral of China.

There are also a number of Canadian junior exploration companies operating in Guyana including Sandspring Resources, Shoreham Resources, GMV Minerals, Gold Port Resources and First Bauxite Inc.

Finders’ fees may be payable on the assignment agreement, in accordance with the policies of the TSX Venture Exchange.

We seek Safe Harbor.

Mr. Steve Smith reports

Otish Energy Inc. has entered into an option agreement to acquire a 100-per-cent interest in 33 mineral claims (the RB claims) situated in Noyelles township in the Abitibi area of Quebec. In consideration, the company will pay the vendor $2,500 cash and issue 250,000 of its common shares upon and subject to regulatory approval. The RB claims will be subject to a 2-per-cent net smelter returns royalty payable to the vendor. The company will have the option at any time to reduce the NSR to 1 per cent for a one-time cash payment of $1-million to the vendor. As part of the option agreement, Otish will also acquire rights to a proprietary geophysical database from the vendor. The database includes 91.7 kilometres of horizontal loop electromagnetic data, 106.9 km of total field and vertical gradient magnetic data and 15.7 km of induced polarization and resistivity data. These excellent geophysical data provide numerous drill-ready targets. The RB claims form two distinct blocks. The R block includes 15 mineral titles (839.8 hectares) that tie directly onto the northwestern corner of the company’s Noyelles property (see news release in Stockwatch Dec. 3, 2009) and cover the extension of three well-defined, drill-ready geophysical anomalies deemed favourable for gold mineralization. The Noyelles property is located roughly 60 km northwest of the town of Lebel-sur-Quevillon, Que. Several logging roads provide excellent access. The property covers part of the Casa Berardi-Cameron Lake deformation corridor that hosts several gold deposits, notably the Casa Berardi gold mine, with over five million ounces of gold, and the Discovery gold deposit, located 20 km southwest of the property, with more than 500,000 ounces of gold. The B block includes 18 mineral titles (1007.1 hectares), is located 1.8 km due north of the Noyelles property and covers 5.4 km of several parallel, gold-bearing structures that are collectively known locally as the Berthiaume gold zone (BGZ). Drill intersections up to 7.3 grams per tonne gold over 8.2 metres have been reported from the BGZ at a point eight km due east of the B block east boundary. Grab samples up to 16 grams per tonne gold have been reported from the BGZ at a point four km due west of the B block west boundary. The database identifies at least two drill-ready geophysical anomalies on the B block deemed favourable for gold mineralization. Otish is currently compiling all the existing data relevant to the RB claims and the adjacent Noyelles property in order to launch a diamond drill campaign in 2010.

Benoit Moreau, PEng, vice-president exploration for Otish Energy, is a qualified person (as defined in National Instrument 43-101) and is responsible for the geological information presented herein.

We seek Safe Harbor.

Otish Energy Inc. is beginning exploration work on its 100-per-cent-interest Noyelles property comprising 66 mineral claims in the Noyelles and Bruneau townships, Abitibi area of Quebec.

The Noyelles property covers approximately 3,697 hectares and is located roughly 60 kilometres northwest of the town of Lebel-sur-Quevillon, Que. Several logging roads transect the property providing an excellent access. The property lies within the Casa Berardi-Cameron deformation corridor that hosts several orebodies and gold deposits, notably the Casa Berardi gold mine with over five million ounces of gold and the Discovery deposit with more than 500,000 ounces of gold. The property is located approximately 20 kilometres from the Discovery deposit.

The property geology consists of mafic volcanic rocks of the Taibi group that is in contact with miscellaneous sedimentary rocks that include sandstones, conglomerates, siltstones, mudstones, tuf and iron formations.

This predrilling exploration work first consists of a structural interpretation of the Noyelles property in order to characterize and accurately position meaningful structural features such as deformation zones, fault systems and other related elements.

Second, all available data relevant to the Noyelles property from the government assessment files will be compiled including geophysical surveys. The emphasis will be put to precisely map possible extensions of the Casa Berardi and Discovery gold horizons on Noyelles. Data integration will generate and prioritize identified drill targets.

The company plans a diamond drill campaign in May or June of 2010 to follow up on selected identified targets.

We seek Safe Harbor.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

For additional information please contact:

Otish Energy Inc.

Steve Smith

President

Suite 1123 – 409 Granville St.

Vancouver, BC, V6C 1T2

Phone: (604) 642-0115

Toll free: (866) 345-0115

Email: steve.smith@telus.net

Otish Energy Inc.

Benoit Moreau

Vice President Exploration

666 Sherbrooke W, Suite 1002

Montreal, QC H3B 1E7

Tel: (514) 759-8702

Email: bmoreau@otishenergyinc.com

The Noyelles Property covers approximately 3,697 hectares and is located roughly 60 kilometres northwest of the town of Lebel-sur-Quévillon, Quebec. Several logging roads transect the Property providing an excellent access. The Property lies within the Casa Berardi – Cameron deformation corridor that hosts several orebodies and gold deposits, notably the Casa Berardi gold mine with over 5 M ounces of gold and the Discovery deposit with more than 500,000 ounces of gold. The Property is located approximately 20 kilometres from the Discovery deposit.

The Property geology consists of mafic volcanic rocks of the Taïbi Group that is in contact with miscellaneous sedimentary rocks that include sandstones, conglomerates, siltstones, mudstones, tuff and iron formations.

The Company will quickly review all the existing information relevant to this Property and recommend an appropriate exploration program. The Company plans a diamond drill campaign in the Fall of 2010 to follow-up on ground prospecting anomalies.

About Otish Energy : The Company explores for unconformity-type uranium deposits, both above and below the basin unconformity, for Rare Earth Elements and gold.

Benoit Moreau, P. Eng. Vice President, Exploration for Otish Energy, is a qualified person (is such is defined in National Instrument 43-101) and is responsible for the geological information presented herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

For additional information please contact:

Otish Energy Inc.

Steve Smith

President

700 Pender Street W, Suite 204

Vancouver, BC V6C 1G8

Tel: (604) 642-0115

Email: steve.smith@telus.net

Otish Energy Inc.

Benoit Moreau

Vice President – Exploration

666 Sherbrooke W, Suite 1002

Montreal, QC H3B 1E7

Tel: (514) 759-8702

Email: bmoreau@otishenergyinc.com

The Chicobi Property covers approximately 2,932 hectares and is located roughly 125 kilometres northwest of Val-D’Or, Quebec. Several gravel roads transect the Property providing an excellent access. To the north, the Property is contiguous to Vior’s Ligneris gold property where previous diamond drill intersections have yielded values up to 70 g/t of Au. The property is bordered to the south by the Berry-Desboues syenite that hosts several gold showings. Agnico Eagle Mines holds a Property near or including that syenite.

The Chicobi volcano-sedimentary belt comprises the Octave formation consisting of felsic tuff, rhyolite and intermediate volcanics and the Chicobi Group constituted of wacke, siltstone and mudstone that are sometimes interbedded with iron formations. Several felsic intrusives are also present.

The Company will quickly review all the existing information relevant to this Property and recommend an appropriate exploration program. The Company plans a diamond drill campaign in the Fall of 2010 to follow-up on ground prospecting anomalies.

About Otish Energy: The Company explores for unconformity-type uranium deposits, both above and below the basin unconformity, for Rare Earth Elements and gold.

Benoit Moreau, P. Eng. Vice President, Exploration for Otish Energy, is a qualified person (is such is defined in National Instrument 43-101) and is responsible for the geological information presented herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

For additional information please contact:

Otish Energy Inc.

Steve Smith

President

700 Pender Street W, Suite 204

Vancouver, BC V6C 1G8

Tel: (604) 642-0115

Email: steve.smith@telus.net

Otish Energy Inc.

Benoit Moreau

Vice President – Exploration

666 Sherbrooke W, Suite 1002

Montreal, QC H3B 1E7

Tel: (514) 759-8702

Email: bmoreau@otishenergyinc.com

OTISH ENERGY ACQUIRES CLAIMS ADJACENT TO LAC DU RATON REE PROPERTY, LAC ST-JEAN AREA, QUEBEC

Otish Energy Inc. has enlarged its recently acquired Lac Du Raton property by map designation of 55 additional claims covering approximately 3,080 hectares. The Lac Du Raton property now consists of 64 claims covering approximately 3,585 hectares and is located roughly 150 kilometres west of Chicoutimi, Que. Registration of the claim titles is pending with Quebec’s Ministry of Natural Resources and Wildlife.

The Lac Du Raton property consists of felsic and alkaline intrusive rocks with stockworks of magnetite hosted by charnockitic and felsic gneisses. Grab samples from outcrops yielded values up to 1.22 per cent total rare earth elements (TREE) with neodymium up to 0.19 per cent. Neodymium is the prime metal in the manufacturing of special magnets for the automotive industry.

We seek Safe Harbor.

OTISH ENERGY ANNOUNCES CONSOLIDATION, ACQUISITION AND PRIVATE PLACEMENT

Otish Energy Corp will be proceeding with the consolidation of its issued share capital on a 1:4 basis. The company received shareholder approval to the consolidation at its annual and special meeting held on Feb. 26, 2009. Following completion of the consolidation, the company will have 14,447,942 shares outstanding.

The company has also entered into a property purchase and sale agreement with Nicolas Lavoie and Martin Neron, both of Chicoutimi, Que., to acquire a 100-per-cent interest in nine mineral claims forming the Lac du Raton property in the Quesnel township, Lac St-Jean area of Quebec. In consideration for the acquisition, the company has agreed to pay to the vendors the sum of $30,000 and issue 120,000 post consolidated common shares in its capital stock, over a period of two years. The property is subject to a 2-per-cent NSR in favour of the vendors. The company will have the option to reduce the NSR, at any time, to one per cent for a cash payment of $1-million to the vendors.

The Lac du Raton property comprises felsic and alkaline intrusive rocks with stockwerk of magnetite Matoush Northhosted by charnockitic and felsic gneisses. Three grab samples from outcrops yielded total rare earth elements (TREE) values up to 1.22 per cent with Nd (neodymium) content as high as 0.19%. Neodymium is the prime metal in the manufacturing of special magnets for the automotive industry. Results are as follows:

Sample No. Rock type TREE Nd one

93451 felsic breccia 0.85 per cent 0.13 per cent

193456 felsic breccia 0.74 per cent 0.12 per cent

193470 felsic gneiss 1.22 per cent 0.19 per cent

In order to fund the initial acquisition costs and exploration commitments of the acquisition, the company has negotiated a private placement totalling $1-million. These funds will be raised by the Company issuing a combination of up to 7.5 million post consolidated flow-through common shares at a post consolidated price of 10 cents per share, and up to 2.5 milion non-flow-through units at a post-consolidated price of 10 cents per unit, each unit consisting of one post consolidated common share and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional post-consolidated common share of the company at a post consolidated price of 15 cents for the first year and 20 cents for the second year; provided however, that in the event the closing price of the company’s shares on the TSX Venture Exchange exceeds 40 cents for 20 consecutive trading days, the Company shall have the right to accelerate the exercise period of the warrants to a date that is not less than 30 days from the date of the company provides notice of its election to accelerate the exercise period.

Finder’s fees may be payable on a portion of the private placement, in accordance with the policies of the TSX Venture Exchange.

A portion of the net proceeds of the private placement will also be used to further exploration on the company’s Matoush North and Tonka properties and for working capital purposes.