Ethos Options Gaffney Gold Project, British Columbia; Targets Extensive Surface Gold Anomaly
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Ethos Options Gaffney Gold Project, British Columbia;
Targets Extensive Surface Gold Anomaly
Vancouver, BC – October 1, 2020, Ethos Gold Corp. (“ Ethos ” or the “ Company ”) (TSXV:ECC)
(OTCQB: ETHOF) is pleased to announce that it has entered into an earn -in agreement under
which Ethos may earn a 100% interest in the 8,172 h ectare (82 km 2) Gaffney gold property
located in central British Columbia. The property is accessible via paved road (Highway 27) and
gravel forest service roads, four hours north of Pr ince George, near the Community of Manson
Creek, in the prolific Manson Creek Placer Gold District (Figure 1).
Highlights
• The project is situated in the Eastern Cordillera G old belt, which includes the Barkerville
gold camp. The property is located topographically above the Manson Creek Placer Gold
District.
• Linear trends (+6 Km and +4km) of high -tenor gold -in -soil geochemical anomalies with soil
values up to 2.95 g/t gold (Figure 2), interpreted to be structurally controlled.
• Geochemistry includes multiple large multielement soil anomalies including silver; arsenic;
antimony – pathfinders for orogenic gold deposits.
• The large soil anomalies, similar in scale and intensity for example to pre -trenching targets
at the Coffee Project (Kaminak; Yukon) 1. With good access initial field work will be
relatively low cost.
• The project is located in an emerging area for gold and copper exploration, with several
producing mines also in the area.
Stated Craig Roberts, P.Eng., President & CEO of Et hos: “The size and tenor of the gold -in -soil
and stream sediment anomalies from work to date at Gaffney suggest potential for a significant
discovery opportunity. Work going forward will incl ude data compilation, analysis and
interpretation, and work on the ground at our earli est opportunity with the intention of advancing
this project to the drill stage by mid -2021.”
1 See Kaminak Press Release dated October 11 th , 2011 entitled “Kaminak Defines Extensive Soil Ano malies Along
Newly Recognised Sugar Trend, Coffee Project”. Com parisons to The Coffee Project are strictly for pur poses of
establishing deposit models and are not indicative of mineralization hosted on the Company’s property.
Figure 1. Gaffney location and major gold camps for BC.
Figure 2. Gaffney target areas. Multiple structurally controlled gold trends.
Gaffney Project Overview
The 8,172 -hectare (82 km 2) Gaffney gold property is located in Central Briti sh Columbia, 197km
north -northwest of Prince George (Figure 1). The property is accessible via paved road (Highway
27), 4 hours north of Prince George, near the Commu nity of Manson Creek. Logging roads and
cut blocks allow additional access to the majority of the property. Historic wide spaced
reconnaissance soil sampling work indicates that se veral high -tenor, linear gold anomalies are
located on the property (Figure 2). These coincide with historic gold -in -stream -sediment
anomalies. 2
2 Note that historical assay values have not been in dependently verified by the Company and a potential investor
should not place undue reliance on historical results when making an investment decision, nor should they be used as
the sole criterion for making investment decisions. There is no assurance that the Company can reprodu ce such
results or that the historical results described therein will be realized.
Manson Creek Placer District
The Manson River placer deposit is located near the old settlement site of Manson Creek.
Manson Creek occupies a section of the Manson River that extends from the informally named
Kildare Creek (093N 057) downstream to approximatel y 1 kilometre above the Manson Lakes.
The bedrock geology in this area includes rocks bel onging to the gold endowed Cassiar, Slide
Mountain and Quesnel terranes. The variability in t he geology is attributed to the Manson Fault
Zone which is spatially associated with all the pla cer occurrences in the area (between
Germansen Landing and Manson Creek) 3. The rock types found along this structure are
ultramafics, listwanitic rocks, slates, argillites, sandstones and quartz wackes.
Placer gold was originally discovered on the Manson River in 1871 and resulted in the
development of the Manson Creek placer gold camp. P lacer mining along this drainage system
has occurred continuously since the 1870s 3. The bedrock in this area is covered by glacial
sediments which are in turn covered by postglacial gravels. The auriferous gravels are those that
lie directly on the bedrock as well as ‘reworked’ postglacial gravels. The majority the placer mining
is concentrated in bedrock benches above the presen t water level of the Manson Creek.
Historical placer mining methods included hydraulics, underground, dredging, shovel and dragline
and sluicing 3. Operations during the late 1980s consisted of mod erate to small sized operations
that produced gold during the summer months. Gold f ound by these operations has ranged from
fine to coarse in size and semi-round to flat in sh ape. Placer gold production from the Manson
River covers the periods between 1874 and 1910, and between 1931 and 1945 where the total
gold recovered is reported to be 358,032 grams (11,512 oz) 3.
Planned Work Program
Ethos plans to complete the following work program during Q4 2020 to Q3 2021:
• Mapping, prospecting and sampling program.
• Infill soil survey.
• Lidar survey.
• Aeromagnetic survey.
• Follow-up trenching or (short-hole) auger drilling campaign.
Earn-in Agreement
Ethos can earn a 100% interest in Gaffney by making the following cash and share payments:
• Cash payment of $15k and 600k shares upon signing.
• 600k shares at 12 months.
• 600k shares at 24 months.
• 600k shares at 36 months.
The vendor retains a 1% NSR royalty, of which the f irst 0.5% can be purchased for $500k, and a
second tranche of 0.5% may be purchased for $1M. There are no work commitments.
3 British Columbia EMPR BULL *28, p. 43; 1, p. 80; 91;
https://minfile.gov.bc.ca/Summary.aspx?minfilno=093N%20%20061
Qualified Person
The technical content disclosed in this press relea se was reviewed and approved by Jo Price,
P .Geo., M.Sc., VP Exploration of Ethos, and a Quali fied Person as defined under National
Instrument NI 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.c om 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-lookin g statements" within the meaning of Canadian securi ties
legislation, including, but not limited to, stateme nts regarding the Company’s plans with respect to t he Company’s
projects and the timing related thereto. Although t he Company believes that such statements are reason able, it can
give no assurance that such expectations will prove to be correct. Forward-looking statements are stat ements that
are not historical facts; they are generally, but n ot always, identified by the words "expects," "plan s," "anticipates,"
"believes," "intends," "estimates," "projects," "ai ms," "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 statement s are
made and they involve a number of risks and uncerta inties. Consequently, there can be no assurances th at such
statements will prove to be accurate and actual res ults 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 obligat ion 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 thes e forward-looking statements include the risk of ac cidents and
other risks associated with mineral exploration ope rations, the risk that the Company will encounter u nanticipated
geological factors, or the possibility that the Com pany may not be able to secure permitting and other agency or
governmental clearances, necessary to carry out the Company's exploration plans, risks and uncertainti es related to
the COVID-19 pandemic, and the risk of political unc ertainties and regulatory or legal changes in the j urisdictions
where the Company carries on its business that migh t interfere with the Company's business and prospec ts. 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.