Ethos Options Perk-Rocky Copper-Gold Porphyry Project
Suite 1430 – 800 West Pender Street, Vancouver, BC V6C 2V6
Ethos Options Perk-Rocky Copper-Gold Porphyry Project
Vancouver, BC – May 16, 2018, Ethos Gold Corp. (“Et hos” or the “Company”)
(TSXV:ECC) (OTCQB: ETHOF) is pleased to announce that it has entered into an option
agreement to acquire a 100% interest in the Perk-Ro cky Project located 225km west of
Williams Lake, British Columbia.
Terms of Option Agreement
Ethos can earn a 100% interest in the Perk-Rocky Pr oject by completing the following
(all amounts in $Canadian unless otherwise stated):
• Paying the vendors $10,000 within five business da ys of the execution date,
$30,000 within five business days of the exchange a cceptance, $75,000 on the
first anniversary of the agreement, $175,000 on the second anniversary,
$400,000 on the third anniversary.
• Issuing to the vendors 300,000 Ethos common shares within five business days
after Exchange acceptance of the agreement, 450,000 shares on the first
anniversary, 700,000 shares on the second anniversa ry, and 1,450,000 shares
on the third anniversary.
• Incurring a minimum of $350,000 in exploration cos ts on or prior to the first
anniversary of the execution date.
Following earn-in to 100% ownership in the property , milestone payments of US$3.85
million are payable, with the first of these being US$350,000 on delivery of a 43-101
compliant resource estimate, and the final one bein g US$2.0 million in the event a
decision is made to proceed to commercial productio n. The vendors also retain a 3.0%
NSR, which Ethos can buy down to 1.0%.
The agreement is subject to the acceptance of the T SX Venture Exchange (the
“TSXV”).
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The Perk-Rocky Project
Perk-Rocky is a porphyry copper-gold exploration pr oject located within a 6,700 Ha
claim block, approximately 225 km west of Williams Lake, British Columbia. Access is
excellent, with road and trail access on the proper ty. The property is located in what is
believed to be Stikine equivalent Terrane which hos ts the prolific “Golden Triangle”
copper and gold deposits. Near the margins of Tert iary Coast Range plutons, the
property is covered by Triassic Stikine equivalent volcanics and related sediments that
have been thrust onto a Lower Cretaceous sedimentar y package which surface in the
northern half of the claim block. Alteration and lo calised mineralisation can be traced
along prominent major shear zones and related struc tures. The property has seen little
exploration since the 1970’s despite the four known mineral occurrences in the area,
two of which are located on the property (Pin: Cu, Mountain Boss: Au, Bluebell:Au, and
Briton: Fe). Subsequent follow-up work including; regional geochemistry and
geophysics, local silt and soil sampling, rudimenta ry prospecting and mapping have
identified a large-scale hydrothermal system with a luminous, and advanced argillic
alteration, indicative of a hidden high-level coppe r-gold porphyry system. In addition,
recent ASTER satellite imagery analysis of the prop erty clearly defines areas of
previously unrecognised gossans and alteration type s that are consistent with large
porphyry systems. As such, Perk-Rocky represents a compelling exploration target
previously untested by modern exploration technique s within a highly favourable
porphyry district.
The anticipated 2019 exploration program will inclu de property-wide geophysics
coupled with detailed geological and alteration analysis that will vector initial drill targets.
Stated Craig Roberts, P.Eng., President and CEO of Ethos: “We are excited to have
executed a 100% earn in on this large and favourabl y located copper-gold porphyry
target. In our 2019 program, our plan is to utiliz e at least C$350,000 of the flow through
funds we have available for extensive airborne geop hysics,ground mapping and
sampling. This program will allow us to evaluate potential drill targets for the next phase
of work.”
Qualified Person
Work on Perk Rocky is supervised by Jo Price, M.Sc. , MBA, P. Geo, VP Exploration of
the Company. She is a Qualified Person as defined u nder National Instrument 43-101
and has read and approved this release.
For additional information please contact Tom Marti n at 250-516-2455 or view the
Company’s website, www.ethosgold.com
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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 securities legislation, including: stateme nts regarding the Perk-Rocky option
agreement. Although the Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to b e 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," an d similar expressions, or that events or
conditions "will," "would," "may," "can," "could" o r "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 mater ially from those anticipated in such
statements. Except to the extent required by applic able 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 op inions, or other factors, should change.
Factors that could cause future results to differ m aterially from those anticipated in these
forward-looking statements include the risk of acci dents 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 no t be able to secure permitting and other
governmental clearances, necessary to carry out the Company's exploration plans, 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 t he 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 Do cument 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.