Ethos Acquires 33.5 km* Deep Cove and Virgin Arm Gold Projects, Newfoundland with Multiple High-Grade Gold Occurrences in an Orogenic Setting

Eth

Pr

Vancouver

(OTCQB: E

which Etho

1875 hecta

north of Ga

gravel road

Highlights

 Lim i

occu

1). R

g/t g

 Gold

sulfi

envi

 Bot h

gold

finer

 Fiv e

Barn

99.2

 A li m

over

Stated Dr.

size with th

work has be

project is w

economic c

available hi

2021, with t

Su

hos Acqu

rojects, N

O

r, BC – Nove

ETHOF) is p

s may earn

re (18.75 km

nder, Newfo

s and trails.

ited historic

urrences wit

Reported hig

gold.

d mineraliz a

des, and vi

ironment, fill

h coarse an d

d particles in

r gold recove

e gold pros p

ney, Piranh a

2 g/t, 104.3 g

mited seven

r 1m, and 1.

Rob Carpen

his number o

een limited a

wide open to

concentratio

istoric data l

the intention

uite 1430 – 80

uires 33

Newfou

Occurre

ember 19, 2

pleased to a

a 100% inte

m2) Virgin Ar

oundland. Th

work includ

th visible go

gh-grade ass

ation is pre s

sible gold. T

ing brittle fra

d fine visibl e

n the plus 2

erable by pa

ects were i d

a, and Kel p

g/t, and 127

-hole drill p r

04 g/t over 9

nter, Chief T

of high grad e

and sporadi

a new effo r

ons of near

look forward

n of developi

00 West Pend

.5 km2 D

ndland w

ences in

2020, Ethos

announce t h

erest in the

rm claim gro

hese project

ing by Nora

ld in bedro c

says from gr

sent in vei n

The veining

acturing of th

e gold are p

mm range (

anning.

dentified in 2

prospects)

g/t, 3.1 g/t, 3

rogram by R

9.1 m in reco

Technical Ad

e gold show

c but has no

rt to unders t

surface g o

d to kicking o

ng drill targe

der Street, V

Deep Co

with Mu

an Orog

Gold Corp

hat it has e n

1475 hectar

oup located o

ts are contig

nda in the 1

ck over a st r

rab samples

ning and st o

occurs at t

he host rock

present, with

see photos

2002 by Ca n

where gra b

3.5 g/t, 7.5g/

Rubicon Mine

onnaissance

visor to Eth

wings that ha

onetheless d

tand the co n

old. We a r

off a significa

ets.”

Vancouver, B

ove and

ultiple Hi

genic Se

p. (“Ethos” o

ntered into

re (14.75 km

on New Wor

uous and ha

980’s to mid

ructural corr

s included 34

ockwork fra

the high le v

ks.

h some loca t

in Figure 2)

ndente Reso

b samples r

/t, 9.1 g/t, an

erals in the

e drilling at tw

hos: “It is rar

as received

delivered ve

ntrols of gol d

re currently

ant program

BC V6C 2V6

Virgin A

igh-Grad

etting

or the “Comp

two earn-in

m2) Deep Co

rld Island, a

ave good ac

d-1990’s ide

ridor of mor e

46 g/t, 245 g

cturing wit h

vel of an or o

tions demon

), but also s i

ource Corp.

returned go

nd 10.4 g/t 2

mid-2000’s

wo locations

re to find a

this little wo

ry encourag

d mineraliza

compiling a

m on the gro

Arm Gold

de Gold

pany”) (TSX

agreement

ove claim gro

pproximately

ccess via pav

entified at lea

e than 5 km

g/t, 127 g/t a

h significant

ogenic dep o

nstrating bot

ignificant co

(the Hank,

ld assays i n

.

returned 5.7

s.

project area

ork to date.

ging results,

ation and to

and interpr e

und in the s

d

XV:ECC)

s under

oup and

y 65 km

ved and

ast nine

(Figure

and 99.7

quartz,

ositional

th larger

incident

Homer,

ncluding

7 g/t Au

a of this

Historic

and the

look for

eting all

spring of

Stated Dr. Q

Deep Cove

mineralizati

Devonian m

occurs alon

Cove and

sequence o

include Mar

Figure 1. D

1 Historical a s

undue relianc

making invest

results desc ri

representative

Quinton Hen

e is very en c

ion appear s

magmatism e

ng this nort h

Virgin Arm

of rocks th a

rathon Gold’

Deep Cove a

ssay values h a

e on historical

tment decision

ibed therein w

e of mineralizat

nnigh, adviso

couraging e

s to occur a

emplaced du

h-south collis

projects ar e

at geologica

’s Valentine

and Virgin A

ave not been i n

results when m

ns. There is n o

will be realize

tion hosted on

or to Ethos:

specially gi v

at the high l

uring a cont

sion margin

e on the w

lly appear t

Lake projec

Arm Propert

ndependently v

making an inve

o assurance t h

d. 2 Best su r

the property.

“The widesp

ven the pre s

evel within

inental collis

extending t

western side

o correlate

t.”

ties

verified by the

estment decisio

at the Compa n

rface samples ”

pread gold m

sence of b o

the orogen

sional event

through cen

of this m a

to other si g

Company and

on, nor should

ny can reprod

” are grab /

mineralizatio

oth coarse a

ic regime a

. Significant

ntral Newfou

argin in a n

gnificant go l

d a potential i n

d they be used

duce such res u

select sampl e

on at Virgin A

and fine gol d

and associa t

gold minera

undland. T h

orth-south t

ld occurren c

nvestor should

as the sole c r

ults or that the

es and not n e

Arm and

d. Gold

ted with

alization

he Deep

trending

ces that

not place

riterion for

historical

ecessarily

Figure 2. P

Note that thes

Deep Cove or

Photos of vi

se photos are o

r Virgin Arm pro

sible gold i

of selected sho

operties.

n quartz ve

owings and are

eining and s

e not necessari

stockwork a

ily representati

at the Deep

ive of the mine

Cove prope

eralization host

erty

ted on the

Deep Cove and Virgin Arm Project Geology Overview

The Deep Cove and Virgin Arm properties lie at the northeast extent of the Exploits Subzone

(Dunnage Zone) of Central Newfoundland and is underlain mostly by the Ordovician Dunnage

Melange and the Badger Belt. The Exploits Subzone area trends 200km northeast / southwest

across the island of Newfoundland, and hosts most of the significant gold deposits in the province.

Gold mineralization is associated with arsenopyri te, pyrite, trace chalcopyrite, and both coarse and

fine-grained native gold within pervasive sericite altered rocks, and concentrated along intersections

between late stage conjugate brittle faults.

Work Program

Ethos is planning to start field exploration in the spring of 2021 including property-wide prospecting,

mapping, and sampling with the objective of defining drill targets for testing later in 2021.

Earn-in Agreements

Ethos can earn a 100% interest in the Virgin Arm claim block by making the following cash and share

payments:

 Cash payment of $60,000 on signing and 400,000 shares on Exchange approval.

 Cash payment of $75,000 and 600,000 shares at 12 months.

 Cash payment of $90,000 and 800,000 shares at 24 months.

 Cash payment of $150,000 and 1,200,000 shares at 36 months.

The vendor retains a 3% NSR royalty, of which the first 1.5% can be purchased for $1,500,000.

There are no work commitments.

Ethos can earn a 100% interest in the Deep Cove claim block by making the following cash and

share payments:

 Cash payment of $65,000 on singing and 600,000 shares on Exchange approval.

 Cash payment of $45,000 and 600,000 shares at 12 months.

 Cash payment of $50,000 and 800,000 shares at 24 months.

 Cash payment of $120,000 and 1,200,000 shares at 36 months.

The vendor retains a 2% NSR royalty, of which the first 1% can be purchased for $1,000,000. Ethos

shall incur exploration costs of $100,000 per year on the Deep Cover claim block.

Qualified Person

The technical content disclosed in this press release was reviewed and approved by Jo Price,

P .Geo., M.Sc., VP Exploration of Ethos, and a Qualified Person as defined under National Instrument

43-101 (“NI 43-101”).

Contact

For additional information please contact Tom Martin at E: [email protected] P: 1-250-516-

2455 or view the Company’s website, www.ethosgold.com and the Company’s SEDAR profile at

www.sedar.com.

Ethos Gold Corp.

Per: "Alex Heath"

Alex Heath, CFA, President

Forward-Looking Statement Cautions:

This press release contains certain "forward-looking statements" within the meaning of Canadian securities

legislation, including, but not limit ed to, statements regarding the Company’s plans with respect to the

Company’s projects and the timing related thereto. Al though the Company believes that such statements are

reasonable, it can give no assura nce that such expectations will prov e to be correct. Forward-looking

statements are statements that are no t historical facts; they are generally , but not always, identified by the

words "expects," "plans," "anticipates ," "believes," "intends," "estimates," "projects," "aims," "potential," "goal,"

"objective," "prospective," and similar expressions, or that events or conditions "w ill," "would," "may," "can,"

"could" or "should" occur, or are those statements, whic h, by their nature, refer to future events. The Company

cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's

management on the date the statements are made and t hey involve a number of risks and uncertainties.

Consequently, there can be no assurances that such st atements will prove to be accurate and actual results

and future events could differ materially from those ant icipated in such statement s. Except to the extent

required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes

no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or

other factors, should change. Factors t hat could cause future results to differ materially from those anticipated

in these forward-looking statements include the risk of accidents and other risks associated with mineral

exploration operations, the risk that the Company w ill encounter unanticipated geological factors, or the

possibility that the Company may not be able to secure permitting and other agency or governmental

clearances, necessary to carry out the Company's expl oration plans, risks and uncertainties related to the

COVID-19 pandemic, and the risk of politic al uncertainties and regulatory or legal changes in the jurisdictions

where the Company carries on its business that might interfere with the Company's business and prospects.

The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities

Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more

complete discussion of such risk factors and their potential effects

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.