Otish Energy Inc. To Option Gateau Property To Tajiri Ventures Corp.

Vancouver, BC, November 2, 2010 � Otish Energy Inc. (�Otish�) (TSX.V � OEI)announces that it has entered into an option agreement (the �Option Agreement�) dated October 20, 2010 with Tajiri Ventures Inc. (�Tajiri�), a Capital Pool Company listed on the TSX Venture Exchange (TSX.V-TAJ.P), whereby Otish has granted Tajiri the exclusive option (the �Option�) to earn an 80% interest in Otish�s Gateau Property claims located in the Otish Basin, Quebec, Canada (the �Gateau Property�). The transaction will constitute Tajiri�s �qualifying transaction� as defined under Policy 2.4 of the TSX

Venture Exchange (the �Exchange�). Specific details are as follows:

Terms of the Transaction

In order to exercise the Option, Tajiri must pay to Otish the sum of $500,000, incur a total of $1,000,000 in exploration expenditures on the Gateau Property and issue an aggregate of 5,250,000 common shares (the �Payment Shares�) in its capital stock, over a period of four years as follows:

The Payment Shares may be subject to such escrow requirements as may be imposed by the Exchange and all the Payment Shares will be subject to the four month hold period imposed by the Securities Act (British Columbia).

The transaction will not be considered to be at arm�s length, as Steve Smith, the President, CEO of Otish, is a director and shareholder of Tajiri. In addition, Zachery Dingsdale, the President, CEO and a director of Tajiri, is a director and shareholder of Otish.

The closing of the Option Agreement is subject to the following conditions precedent:

• each Company completing its due diligence investigations of the other;
• the Exchange waiving requirement for a sponsor;
• the passing of resolutions by the majority of the minority shareholders of Tajiri approving the Qualifying Transaction;
• receipt of written notice from the Exchange that the Exchange has accepted for filing all material amounting to the Tajiri�s Qualifying Transaction; and
• Tajiri raising at least $700,000, which funds will be used to pay the initial Option costs and proposed exploration work program on the Gateau Property.

ON BEHALF OF THE BOARD

Steve Smith
President

For more information, please contact

Otish Energy Inc.
Steve Smith, President
(604) 642-0115
(604) 642-0116 (FAX)
[email protected]