Otterburn Target K92 Receives Mining Lease Renewal Notification From Barrick Gold Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 20, 2015) - Otterburn Resources Corp. (TSX VENTURE:OBN) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

• Otterburn Resources Corp. announces Mining Lease renewals
• Mining lease renewals trigger sale completion between Barrick and K92
• Project includes existing mill, mine development and substantial infrastructure

Otterburn Resources Corp. ("Otterburn") (TSX VENTURE:OBN) is pleased to announce that K92 Holdings International Limited ("K92") has received notification from Barrick Gold Corp ("Barrick") that the Kainantu Mine mining lease renewals sought by Barrick's wholly owned subsidiary Barrick Kainantu Limited ("BKL") have been obtained.

With the mining leases now renewed for 10 years from June 14, 2014, as per BKL's application to the Mineral Resource Authority (MRA) of Papua New Guinea, and with all required cash payments from K92 to Barrick having been made to complete the transaction, the sale of BKL to K92 Holdings (PNG) Limited (wholly owned by K92) has been triggered. The sale completes in ten business days and the control of the Kainantu Mine Property transfers to K92 at the end of the ten day period.

The Kainantu property covers a total area of 410.74 square kilometres and is located in the Eastern Highlands province of Papua New Guinea, approximately 180 kilometers via paved road, west-northwest of the town of Lae, Papua New Guinea. Papua New Guinea is a democratic commonwealth country with a population of approximately 7.4 million people, and a land area of 462,840 km². Mining is a major source of economic activity with multiple large mines operated by major mining companies. Mining and petroleum contribute more than one-third of all government revenue. While there is constant investment news from the mining sector in Papua New Guinea, including the recent announcement of Anglo America's proposed multimillion dollar joint venture with Highlands Pacific Limited at Star Mountains, the most recent news garnering attention is the recent decision by Newcrest to proceed to feasibility of its Golpu copper-gold deposit with a proposed life of mine capital expenditure of approximately USD $3.1 billion. The Golpu deposit is situated approximately 110 km east south-east of the Kainantu Mine.