Ethos Consolidates Schefferville Gold District with Acquisition of Additional Claim Block
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Ethos Consolidates Schefferville Gold District with
Acquisition of Additional Claim Block
Vancouver, BC – October 15 th , 2020, Ethos Gold Corp. (“ Ethos ” or the “ Company ”) (TSXV:ECC )
(OTCQB: ETHOF ) is pleased to announce that it has purchased a 10 0% interest in 206 mineral
claims covering 10,018 Ha (100.2 km 2) contiguous to Ethos’s newly staked Sable block, p art of the
Schefferville Gold Project, 85 km northwest of Sche fferville, Quebec. The purchase agreement is
subject to acceptance by the TSX Venture Exchange.
Highlights
• The claims cover key portions of the Sable River De formation Zone structure adjacent to the
Sable Block (Figure 1).
• The newly acquired claims host at least 13 iron for mation hosted gold occurrences with
samples ranging from > 1 g/t Au to 6.7 g/t Au.
• The Sable block now comprises a total of 34,448 ha (344.5 km 2) and covers a package of rocks
within a major deformation zone which management be lieves is prospective and presents a
district-scale opportunity for Ethos.
Stated Craig Roberts, P.Eng., President and CEO: “T hese newly acquired claims incorporate areas
that have historically returned significant gold values and provide us with a much more continuous
land package over the target trends. Our plan is t o complete data compilation and analysis over
the winter months and then initiate field work earl y in the spring of 2021 with the intention of
then developing and pursuing drill targets”.
Project Overview
The district scale Schefferville Project is centere d on a structural corridor characterized by faulted
and sheared rocks extending for approximately 60 km on the Sable block, and 10 km on the
Hamard block. The in-house technical team at Ethos has identified several key areas along this fault
zone that it believes hosts gold mineralization. As a result, the Company subsequently staked 342
km 2 to cover most of the prospective ground (see Augus t 5, 2020 news release). Acquisition of
both the Bassano block (see September 4, 2020 new r elease) and now these additional claims, has
allowed Ethos to consolidate these key areas under control of one group. Ethos can now explore
the region on a true district scale which it hopes will enable an efficient and effective exploration
program.
Figure 1. Existing and newly acquired Schefferville Project claims
Purchase Terms
Ethos has purchased the claims for $50,000 cash (paid) and 1.5 million shares of Ethos (payable on
TSX Venture Exchange approval of the purchase agree ment). Additionally, there is a 2.0% NSR in
favour of the vendors of which Ethos may purchase 1.0% for $1.0 million.
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 NI 43-
101 (“NI 43-101”).
Contact
For additional information please contact Tom Marti n 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: " Craig Roberts "
Craig Roberts, P.Eng., President & CEO
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securi ties legislation,
including, but not limited to, statements regarding the Company’s plans with respect to the Company’s projects and
the timing related thereto, statements with respect to the prospects of the Company’s projects and min eral claims,
statements with respect to the efficiency and effec tiveness of the Company’s exploration programs and statements
with respect to the TSX Venture Exchange approval of the agreement to acquire the claims referenced in this news
release. Although the Company believes that such st atements are reasonable, it can give no assurance t hat such
expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are
generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "int ends," "estimates,"
"projects," "aims," "potential," "goal," "objective ," "prospective," and similar expressions, or that events or conditions
"will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future
events. The Company cautions that Forward-looking s tatements are based on the beliefs, estimates, assu mptions and
opinions of the Company's management on the date th e statements are made, including that the Company w ill carry
out its plans with respect to its projects in the m anner currently anticipated and upon the timelines currently
anticipated, that the Company’s exploration program s will proceed in an efficient and effective manner and that the
TSX Venture Exchange will approve the agreement to a cquire the claims referenced in this news release, and they
involve a number of risks and uncertainties. Conseq uently, there can be no assurances that such statements will prove
to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchang e, the Company
undertakes no obligation to update these forward-lo oking statements if management's beliefs, estimates or opinions,
or other factors, should change. Factors that could cause future results to differ materially from tho se anticipated in
these forward-looking statements include the risk o f accidents and other risks associated with mineral exploration
operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company
may not be able to secure permitting and other agen cy or governmental clearances necessary to carry ou t the
Company's exploration plans, risks and uncertaintie s related to the COVID-19 pandemic, the risk of poli tical
uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its bu siness that might
interfere with the Company's business and prospects and the risk that the TSX Venture Exchange may not approve the
agreement to purchase the claims referenced in this news release in a timely manner or at all. The rea der 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.seda r.com for a more complete discussion of such risk f actors 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.