Ethos Gold Announces Amended Terms and Increases Size of Flow-Through Financing to Raise $1.5 Million for Drilling at its

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Ethos Gold Announces Amended Terms and Increases Size of

Flow-Through Financing to Raise $1.5 Million for Drilling at its

Ligneris project, Abitibi, Québec

Vancouver, BC – October 28, 2019, Ethos Gold Corp. (“ Ethos ” or the “ Company ”) (TSXV:ECC)

announces that it has revised the terms and size of the non-brokered private placement

announced September 20, 2019. Ethos is now proceed ing with a flow-through offering to raise

gross proceeds of up to $1,512,000 by the issuance of up to 5,600,000 units (each a “FT Unit”) at a

price of $0.27 per FT Unit (the “FT Offering”). Eac h FT Unit will comprise one flow-through

common share (a “FT Share”) and one half of one non flow-through common share purchase

warrant (each whole warrant, a “Warrant”). Each Wa rrant will be exercisable at a price of $0.30

into one common share for a period of two years fro m the date of issuance. The FT Shares will

qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act

(Canada).

The gross proceeds of the FT Offering will be used by the Company to incur “Canadian exploration

expenses” that will qualify as “flow-through mining expenditures” within the meaning of the

Income Tax Act (Canada) related to the Company’s projects in Québec on or prior to December 31,

2020 for renunciation to subscribers of FT Shares effective December 31, 2019.

The FT Offering is subject to the acceptance of the TSX Venture Exchange, and securities issued in

the FT Offering will be subject to a 4-month hold p eriod. Finder’s fees may be payable on all or a

portion of the FT Offering.

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.c om and the Company’s SEDAR profile at

www.sedar.com.

Ethos Gold Corp.

Per: " Craig Roberts "

Craig Roberts, P .Eng., President & CEO

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.

Forward-Looking Statement Cautions:

This press release contains certain "forward-looking statements" within the meaning of Canadian securi ties legislation,

relating to, among other things, the Company’s plan to undertake the FT Offering, the size of the FT O ffering and the

contemplated use of the proceeds to further the exp loration and drilling on its Ligneris gold project, Abitibi, Quebec.

Although the Company believes that such statements are reasonable, it can give no assurance that such expectations

will prove to be correct. Forward-looking statement s are statements that are not historical facts; the y are generally,

but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "est imates," "projects,"

"aims," "potential," "goal," "objective," "prospect ive," and similar expressions, or that events or co nditions "will,"

"would," "may," "can," "could" or "should" occur, o r are those statements, which, by their nature, ref er 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 uncert ainties.

Consequently, there can be no assurances that such statements will prove to be accurate and actual res ults and future

events could differ materially from those anticipat ed in such statements. Except to the extent require d by applicable

securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to u pdate these

forward-looking statements if management's beliefs, estimates or opinions, or other factors, should ch ange. Factors

that could cause future results to differ materiall y from those anticipated in these forward-looking s tatements include

risks associated with the Company’s ability to comp lete the FT Offering and obtain the necessary appro val of the TSX

Venture Exchange, risks associated with the Company’ s ability to use the proceeds of the FT Offering as expected,

possible accidents and other risks associated with mineral exploration operations, the risk that the C ompany will

encounter unanticipated geological factors, the pos sibility that the Company may not be able to secure permitting and

other governmental clearances necessary to carry ou t the Company's exploration plans, the risk that th e Company will

not be able to raise sufficient funds to carry out its business plans, and the risk of political uncer tainties and regulatory

or legal changes that might interfere with the Comp any's business and prospects. The reader is urged t o refer to the

Company's reports, publicly available through the C anadian Securities Administrators' System for Elect ronic Document

Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factor s and their

potential effects.