OBN

Otterburn Resources Corp. (the "Company") (TSX VENTURE: OBN) is pleased to announce that it has completed its initial public offering ("IPO") of 3,350,000 common shares, at a price of $0.15 per common share, for aggregate gross proceeds of $502,500 (the "IPO") the proceeds of which the Company will be expending on its Adam's Lake Property located in British Columbia and as described in the Company's prospectus dated November 26, 2010 as filed on SEDAR. The Company has applied to list its common shares on the TSX Venture Exchange (the "TSXV") and expects that the Company's common shares will commence trading on the TSXV on January 10, 2011 under the trading symbol "OBN".

Wolverton Securities Ltd. acted as agent on the IPO. As consideration for assisting in completing the prospectus offering, the Company: (i) paid an 8% marketing commission payable in common shares of the Company at the rate of one common share for each $0.15 of marketing commission, being 268,000 common shares of the Company; (ii) paid a corporate finance fee (plus applicable taxes) of $25,000 consisting of $5,000 (plus applicable taxes) and the issue of common shares of the Company at the rate of one common share for each $0.15 of corporate finance fee, being 133,333 common shares of the Company (the "Corporate Finance Shares"); (iii) issued options (the "Agent's Options") to acquire 268,000 common shares of the Company (exercisable at $0.15 per share for a period of two years from the date of listing on the TSXV); and (iv) paid the Agent's expenses as incurred.

As a result of the closing of the IPO, the Company now has 12,951,334 common shares issued and outstanding (of which 3,850,001 shares and 2,000,000 warrants are subject to escrow restrictions). The Company also has an aggregate 8,718,000 shares reserved for issuance pursuant to: (i) the exercise of 7,350,000 outstanding share purchase warrants exercisable at $0.15 per share (as to 2,870,000 warrants expiring June 10, 2015; and 4,480,000 warrants expiring June 15, 2015); (ii) 268,000 shares reserved for issuance pursuant to exercise of the Agent's Options; (iii) 900,000 shares reserved for issuance pursuant stock options granted under the Company's stock option plan; and (iv) 200,000 shares to be issued assuming the Company exercises its option to acquire 100% of the Adam's Lake Property.

The Agent's Options, 66,333 of the Corporate Finance Shares and any shares issued upon exercise of the Agent's Options are subject to a hold period and may not be traded in Canada until May 6, 2011, except as permitted by applicable Canadian securities laws.

The board of directors consists of Brian Lueck, Darryl Cardey, Darren Devine and Mark Holden. Brian Lueck is the President, CEO and Secretary and Adam Kniec is the CFO.

ON BEHALF OF THE BOARD

Brian Lueck, President, CEO and Secretary

This press release includes "forward-looking statements" that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company's common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represents management's best judgment based on information currently available.

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.

Contacts: Otterburn Resources Corp. 1-604-638-8067