Ethos Purchases 8% of Carlin Type Holdings Ltd.
Suite 1430 – 800 West Pender Street, Vancouver, BC V6C 2V6
Ethos Purchases 8% of Carlin Type Holdings Ltd.
Vancouver, BC – May 30, 2019, Ethos Gold Corp. (“Ethos ” or the “ Company ”) (TSXV:ECC)
(OTCQB: ETHOF) is pleased to announce that it has purchased 1,650, 000 common shares or
approximately 8.0% of Carlin Type Holdings Ltd. (“C TH”). CTH is a private British Columbia
corporation whose wholly owned Nevada subsidiary, Ridgeline Minerals Corporation (“Ridgeline”),
has options to acquire a 100% interest in three hig hly prospective gold exploration projects in
Nevada: Carlin -East, Swift, and Selena. In this seed financing, CT H raised gross proceeds of
C$1.5 million. Post seed financing and after share issuances required for closing of the option
agreements, CTH will have approximately 20.6 millio n shares issued, or a C$2.7 million
capitalization at the $0.12 private placement price.
Overview of CTH / Ridgeline Projects
Carlin East is a 6.5 square mile underexplored core land posit ion on the Carlin Trend that is on-
trend of Newmont's Leeville-Turf (15Moz. Au) mine a nd adjacent to Barrick’s Goldstrike (50+ Moz.
Au) complex. The primary ore controlling structures of the Leeville-Turf mine extend onto the
Carlin-East property and coincide with a pronounced gravity geophysics high. A conceptual Carlin-
type exploration target has been defined within thi s structural corridor and Ridgeline is in the
process of completing additional geophysics, sampli ng, mapping, and historic data review prior to
an initial drill test of this high priority target.
Swift is a 10.8 square mile core land position on the Battle Mountain-Eureka Trend. The property is
directly on trend of the Cortez district which incl udes the Pipeline (21 Moz. Au), Cortez Hills (15
Moz. Au), and Goldrush (15+ Moz. Au) mines. The pro perty exhibits altered upper plate rocks with
anomalous gold mineralization as well as Carlin-Typ e pathfinder elements. Historic drilling did not
test the highly prospective Goat anticline target b ut did define a reasonable depth to Lower Plate
stratigraphy of 1,900-2,200 ft. and yielded multipl e drill intervals with highly anomalous Carlin-Type
Au mineralization.
Selena is a 10.0 square mile early stage Carlin-Type Au ex ploration project located within the
proposed extension of the South-Carlin Trend. The property lies at the southern end of the Cherry
Creek Range to the east of Kinross’s Bald Mountain (4.0+ Moz. Au) and Alligator Ridge (1.0+ Moz.
Au) mines and directly south of McEwen Mining’s Golden Butte and Resurrection Ridge prospects.
Ridgeline will focus on a newly identified oxide Au structural target highlighted by multiple
significantly anomalous in Au grab samples. The str uctural target is untested by drilling and
appears to widen as it cuts up-section and continue s under shallow cover to the west where it is
projected to intersect the Pilot Shale, a regionally important host to gold mineralization.
CTH / Ridgeline Management
Chad Peters, P .Geo. (CTH and Ridgeline President & CEO) and Steve Nielsen (Director, Owner -
Envirotech Drilling LLC.) founded the company in 20 18 with the core belief that significant
discovery potential remains in Nevada. Ridgeline’s strategic partnership with Envirotech Drilling
LLC. provides exposure to a highly experienced dril ling team as well as significantly discounted
drilling services allowing Ridgeline to focus explo ration dollars into the ground early to maximize
the odds of discovery. As Premier’s Nevada Explorat ion Manager, Chad executed multiple
exploration projects and joint venture initiatives with partners such Barrick, Newmont and Kinross
Gold. In 2015 he led the team that re-interpreted t he historic McCoy-Cove structural model and
proposed a new exploration target leading to the 20 16 discovery of the CSD Gap deposit. The
success of the CSD Gap discovery led to a high-grad e, 1.6 million-ounce resource estimate in
2017 and subsequent joint venture with Barrick Gold in 2018 on what is now considered the
highest-grade undeveloped Carlin-Type deposit in Nevada.
Summary
Stated Craig Roberts, P .Eng., President & CEO of Et hos: “For a modest seed round equity
investment of C$198,000, Ethos now has exposure to two additional deep Carlin-type drill targets
in Nevada, with sufficient funding to drill one and possibly both this year, plus a very prospective
nearer surface oxide gold target. This investment furthers our relationship with the Ridgeline
technical team who have a proven track record of mu ltiple Carlin-type discoveries in Nevada. Our
involvement with Ridgeline management has already p rovided significant value add to our
initiatives in Nevada and if Ridgeline has success in drilling its Carlin-type targets we believe our
8.0% ownership could provide significant upside to the Ethos shareholders. As an equity
investment, we get this exposure without the requir ement to make further cash calls, although we
do have the option to at least maintain our proportional ownership through the next financing round.
Including our recently announced program to drill a Carlin-type target at the Iron Point project 22
miles east of Winnemucca, Nevada (see Figure above and the Ethos May 17, 2019 press release),
Ethos now has exposure to three Carlin-type targets in Nevada. Iron Point will be drilled shortly
under the supervision of Dr. Quinton Hennigh, and a t least one and possibly two of the Ridgeline
targets will be drilled in 2019.”
Qualified Person
Jo Price, M.Sc., MBA, P .Geo, VP Exploration of the Company and a Qualified Person as defined
under National Instrument 43-101 has reviewed and approved this release.
About Ethos Gold
Ethos Gold is exploring the La Purisima gold project (earning 100%) in Chihuahua Mexico, the Iron
Point Carlin gold project (earning 50% from Victory Metals Inc: TSX-V: VMX) 22 miles east of
Winnemucca, Nevada, and the Perk-Rocky copper-gold porphyry project (earning 100%), 220 km
west of Williams Lake, British Columbia. La Purisi ma is a near surface, bulk tonnage, oxide gold
target, and a maiden drill program will commence shortly. Iron Point is a Lower Plate hosted Carlin
style gold target, and a planned program of three v ertical holes to test this target will commence
shortly under the supervision of Dr. Quinton Hennigh. Perk-Rocky is a copper-gold porphyry target,
and an exploration program including detailed airbo rne geophysics and ground mapping and
sampling will commence shortly. Ethos also owns ap proximately 8% of the equity of Carlin Type
Holdings Ltd., a private company earning into 100% ownership of three Nevada exploration
projects, including two deep Carlin type targets (Carlin East and Selena). Ethos is also earning into
the Pine Pass and Ursula vanadium projects (100% ea rn-in) in north-central British Columbia. In
March 2019 Ethos received notice from the Province of British Columbia that the mineral tenures
making up its Pine Pass vanadium project are includ ed in an area under consideration for an
immediate moratorium on development proposals and p ossible inclusion in an expanded
environmental protected area, and Ethos is now wait ing on the resolution of this issue before
finalizing plans for further work.
Ethos currently has cash of approximately C$6.5 million and 54.8 million shares issued.
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.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. Although the Company believes that suc h statements are reasonable, it can give no assuran ce
that such expectations will prove to be correct. Fo rward-looking statements are statements that are no t
historical facts; they are generally, but not alway s, identified by the words "expects," "plans," "ant icipates,"
"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 th e
statements are made and they involve a number of ri sks and uncertainties. Consequently, there can be n o
assurances that such statements will prove to be ac curate and actual results and future events could d iffer
materially from those anticipated in such statement s. Except to the extent required by applicable secu rities
laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update thes e
forward-looking statements if management's beliefs, estimates or opinions, or other factors, should ch ange.
Factors that could cause future results to differ m aterially from those anticipated in these forward-l ooking
statements include the risk of accidents and other risks associated with mineral exploration operation s, the
risk that the Company will encounter unanticipated geological factors, or the possibility that the Com pany
may not be able to secure permitting and other agen cy or governmental clearances, necessary to carry o ut
the Company's exploration plans, and the risk of po litical uncertainties and regulatory or legal chang es in the
jurisdictions where the Company carries on its busi ness that might interfere with the Company's busine ss
and prospects. The reader is urged to refer to the Company's reports, publicly available through the
Canadian Securities Administrators' System for Elec tronic 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.