Otterburn Target K92 Receives Mining Lease Renewal Notification From Barrick Gold Corp. - Seite 3

K92 Chief Executive Officer, Mr. Ian Stalker, states "Today's mining lease renewal news is in many ways a starting point for K92. However, it is also the culmination of a period of hard work by both our team in Papua New Guinea and by Barrick personnel. I thank both groups for their dedication to this process to this point and to the upcoming transition process onsite. K92's focus is to fast track the restart of mining and milling operations onsite, and commence exploration with the goal of identifying and defining further high grade resources. Our business model, developed by an outstanding team of mining professionals, is based on a foundation of low and well defined Capital Expenditure requirements, high grade resources and a strong existing infrastructure."

The team advancing K92, and their intended positions with Otterburn, includes:

R. Stuart (Tookie) Angus, Chairman and Director

Ian Stalker, Chief Executive Officer and Director

Bryan Slusarchuk, President and Director

Brian Lueck, Chief Operating Officer and Director

Mark Eaton, Director

Saurabh Handa, Director

Alex Davidson, Advisor to K92

Douglas Kirwin, Advisor to K92

Andrew Vigar, Advisor to K92

Daisy Taylor, Director (Papua New Guinea)

Justin Blanchet, Chief Financial Officer

The renewal of the Mining Lease was granted on the conditions that BKL (i) comply with the PNG Mining (Safety) Act; (ii) comply with all other relevant legislation applicable to the Mining Lease; (iii) complete the change of control of the Kainantu mine [ownership of BKL] within three months; (iv) refurbish the mine and mill to operating status as existed prior to being placed under care and maintenance, by December 31, 2015; and (v) commence operations and production on the Kora deposit by June 30, 2018.

Brian Lueck, B.Sc. Geo., a "qualified person" within the meaning of NI 43-101, reviewed and participated in the preparation of the technical information disclosed in this news release.

ON BEHALF OF THE BOARD

Brian Lueck, President & CEO

* A qualified person has not done sufficient work to classify the historical estimates as current mineral resource or mineral reserves. The disclosure is based on information provided by Barrick (2014) based on their prior work on the property. The disclosure is considered both relevant and reliable based on the Company's review of the data. The Company's NI 43-101 compliant technical report on the resource estimates will be available for disclosure shortly. The Company is not treating the historical estimate as current mineral resources or mineral reserves as defined in NI 43-101. The Company cautions the reader that the historical estimates disclosed in this news release should not be relied upon. There have been no assumptions made as to metal prices or recoveries in the mineral resource estimates other than gold equivalents that are calculated for AuEq = Au g/t + Cu% x 1.7308 + Ag g/t x 0.0185.