PPP.V · 2020-09-04 12:00:00

Ethos Consolidates Schefferville Gold District with Acquisition of Bassano Claim Block

Mergers & Acquisitions Property Options & Staking

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Along the 1.8 km trend between the Baleine Rouge and Arsene target areas there are numerous

occurrences of metamorphosed iron formation, recognized as a very prospective host rock for gold

mineralization in the region. Additionally, the Bassano claims cover key structural intersections

related to the east‐southeast trending structures that trend parallel to the regional Sable River

Deformation Zone, with shorter strike length north‐northeast trending structures orthogonal to

this main structural trend.

The Baleine Rouge gold occurrences are hosted within two horizons of metamorphosed iron

formation located approximately 100 m apart, with each iron formation trend being at least 300 m

to 500 m long and up to 10 m thick, hosted within a metawacke sequence. Gold concentrations are

hosted within metamorphosed iron formation, and at the margins of iron formation with the

enclosing metawacke and are characterized by variable concentrations of quartz‐carbonate

veining, arsenopyrite, pyrrhotite and pyrite mineralization. Significant Pb‐Zn mineralization (6.55%

Pb and 1.47% Zn over 2 m) is associated with other portions of the Baleine Rouge prospect area.

Historic drill core intersections from the Bassano property are provided in Table 1.

Table 1: Historic drill core intersection on the Bassano Project claims

Hole From (m) To (m) Length (m) Au (g/t)

RL‐10‐13 146.5 151.3 4.8 1.03

RL‐10‐17 11.45 19.7 8.25 1.24

and 49.7 62.25 12.55 1.05

including 57.3 58.4 1.1 9.92

WT‐09‐04 40.39 59.94 19.55 2.23

including 53.85 55.88 2.03 10.21

Schefferville Project Update

The Bassano Project claims, and related data are being integrated into Ethos Gold Corp.’s

exploration plans for its Schefferville Gold Project. Starting in mid‐September Ethos will conduct an

extensive, property wide airborne magnetic survey over the Schefferville Gold Project and this will

now include the newly acquired Bassano Project. Approximately 7,000 line km will be flown on

75m spacing at a height of approximately 35m. This survey will provide high resolution data over

a very large tract of prospective target area. At the same time Ethos is gathering and analysing a

significant amount of data from previous exploration activities in the region, in part aimed at

establishing correlations between airborne magnetic response, structure, rock type, and known

areas of gold mineralization. As noted the known areas of gold mineralization in rock samples and

drill intervals on the Bassano property will help in establishing these correlations. This work will be

followed by field mapping and sampling to ground truth target areas, followed by drilling.

Earn in Agreement Terms

Ethos can earn 100% of the Bassano Project by paying the optionor a total of 3,500,000 shares,

$200,000 in cash, and completing $500,000 in exploration work to November 15, 2024 according to

the following schedule.

Cash Work

Commitment

Upfront $50,000 100,000

Nov 15, 2021 $50,000 $125,000 200,000

Nov 15, 2022 $50,000 $125,000 400,000

Nov 15, 2023 $50,000 $125,000 800,000

Nov 15, 2024 $125,000 2,000,000

TOTAL $200,000 $500,000 3,500,000

In addition, the optionor will retain a 2% NSR royalty of which Ethos may purchase 1% for

$1,000,000.

Qualified Person

The technical content disclosed in this press release was reviewed and approved by Jo Price, P. G e o . ,

M.Sc., VP Exploration of Ethos, and a Qualified Person as defined under National Instrument 43‐

101 (“NI 43‐101”). Marc L’Heureux, P. G e o . , M.A.Sc. technical advisor to the Company overseeing

the Company’s activities in Quebec has also reviewed and approved this release.

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: "Craig Roberts"

Craig Roberts, P. E n g . , President & CEO

Forward‐Looking Statement Cautions:

This press release contains certain "forward‐looking statements" within the meaning of Canadian securities legislation,

including, but not limited to, statements regarding the Company’s plans with respect to the Company’s projects and

the timing related thereto. Although the Company believes that such statements are reasonable, it can give no

assurance that 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,"

"intends," "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 statements are based on the beliefs,

estimates and opinions of the Company's management on the date the statements are made and they involve a

number of risks and uncertainties. Consequently, 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 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 that 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 will 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 exploration plans, risks and uncertainties related to the COVID‐19 pandemic, and the risk of political

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.

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