Ethos to Drill Perk-Rocky Copper-Gold Porphyry Target, Outlines Drilling Plans on Four Gold Projects, Announces Financings
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Ethos to Drill Perk-Rocky Copper-Gold Porphyry
Target, Outlines Drilling Plans on Four Gold
Projects, Announces Financings
Vancouver, BC – March 2, 2021, Ethos Gold Corp. (“ Ethos ” or the “ Company ”) (TSXV: ECC ;
OTCQB: ETHOF ; Frankfurt: 1ET ) today announces that its Board of Directors has a pproved a drill
program on its fully permitted Perk-Rocky Copper-Gold Porphyry Project (“Perk-Rocky”) located ~ 200
kilometers west of Williams Lake at the western end of a northwest trending linear array of porphyry
copper mines and development projects including Highland Valley (Teck), New Afton (New Gold Inc.),
Yalakom (Barrick) and New Prosperity (Taseko Mines Ltd.). The Perk-Rocky project contains a highly
prospective, extensive 8 by 5-kilometer porphyry-style alteration footprint that may be related to one or
more porphyry centers and contains copper sulphides at surface. Perk-Rocky is one of few road
accessible, metal endowed magmatic-hydrothermal systems in British Columbia that has never been
drill tested.
Craig Roberts, P.Eng., CEO of Ethos stated: “We are very excited to begin our inaugural drill program
at our fully-permitted Perk-Rocky copper-gold porph yry project. In addition, we have launched plans
to aggressively advance four highly-prospective gold exploration projects to drilling by year-end. Led
by a strong technical team with a history of world-class discoveries, and with a portfolio of district-scale
opportunities, Ethos is well positioned for success in 2021.”
Ethos is also pleased to announce that planning is underway to launch drill programs in 2021 on four
district-scale gold projects, including Perk-Rocky (BC), Savant Lake (Ontario), Schefferville (Quebec),
Toogood (Newfoundland), and Iron Point (Nevada). The Company intends to carry out non-brokered
private placements of flow-through units to raise g ross proceeds of up to C$1,200,000 to fund its
planned exploration activities.
2021 Perk-Rocky Drill Program Highlights:
• Perk-Rocky (100% earn-in) is a large copper-gold porphyry tar get located within a major
copper deposit trend in Central BC, fully permitted for drilling.
• The project exhibits extensive copper-gold mineral ization over an 8km x 5km area. Work to
date indicates that multiple porphyry centers may b e present on the property with three high-
priority target areas now defined.
• Widespread telescoped low- to high- temperature al teration suggests that overprinting
mineralized systems may be present. Preserved high-level environment which is supported by
localised advanced argillic alteration and 50+ Cu showings at surface suggests that the highest-
grade positions within zoned porphyries may be present (Figure 1).
• Inaugural drill program will focus on three target s, with 3-4 holes, totaling approximately 2,000
metres. Drilling is expected to begin in May-June.
Figure 1. Copper in Rocks and Target Areas at the Perk-Rocky Project.
2021 Drill Plans:
Following significant field work and desktop analysis from the Ethos’s technical team, the Company
anticipates advancing multiple drill campaigns on four gold projects in 2021, including:
• Savant Lake (Ontario, 70% earn-in): mobilization of field crews in early spring with the intention
of ground truthing target areas followed by drilling in Q3, 2021.
• Toogood (Newfoundland, 100% owned / 100% earn-in): mapping and sampling program
followed by a ground truthing program planned for the spring of 2021. An initial drill program is
planned for later in 2021.
• Iron Point (Nevada, 50% earn-in): Drilling of select targets is expected to commence in 2021.
• Schefferville (Quebec, 100% owned / 100% earn-in): continued analysis of recently acquired
project data and plans to commence field work in th e spring of 2021 with the intention of
developing drill targets for testing later in 2021-2022.
Further details of the Company’s projects can be fo und in the January 27, 2021 Corporate Update,
HERE .
Announcement of Flow Through Financings:
Ethos announces the following non-brokered private placements (collectively, the “Private
Placements”) for aggregate gross proceeds of up to $1,200,000, consisting of:
• a British Columbia flow through private placement of flow through units priced at $0.24 per unit.
Each unit will comprise one flow through share, and one half of one non-flow through common
share purchase warrant. Each whole such warrant will be exercisable into one common share
of the Company at an exercise price of $0.40 for a period of two years following closing. The
common share purchase warrants will be subject to a cceleration at the Company’s discretion
in the event its common shares trade on the TSX Ven ture Exchange on a volume weighted
average price (“VWAP”) basis of C$0.60 or more for a period of ten consecutive trading days.
Proceeds of this offering will be utilized on the C ompany’s Perk Rocky copper-gold porphyry
project in British Columbia or on eligible flow thr ough expenditures on other British Columbia
projects.
• an Ontario flow through private placement of flow through units priced at $0.24 per unit. Each
unit will comprise one flow through share, and one half of one non-flow through common share
purchase warrant. Each whole such warrant will be exercisable into one common share of the
Company at an exercise price of $0.40 for a period of two years following closing. The common
share purchase warrants will be subject to acceleration at the Company’s discretion in the event
its common shares trade on the TSX Venture Exchange on a volume weighted average price
(“VWAP”) basis of C$0.60 or more for a period of te n consecutive trading days. Proceeds of
this offering will be utilized on the Company’s Savant Lake Gold Project in Ontario or on eligible
flow through expenditures on other Ontario projects.
• a national flow through private placement of flow t hrough units priced at $0.22 per unit. Each
unit will comprise one flow through share, and one half of one non-flow through common share
purchase warrant. Each whole such warrant will be exercisable into one common share of the
Company at an exercise price of $0.40 for a period of two years following closing. The common
share purchase warrants will be subject to acceleration at the Company’s discretion in the event
its common shares trade on the TSX Venture Exchange on a volume weighted average price
(“VWAP”) basis of C$0.60 or more for a period of te n consecutive trading days. Proceeds of
this offering will be utilized on the Company’s Too good gold project in Newfoundland or on
eligible flow through expenditures on other projects within Canada.
Members of the Company’s management and technical a dvisory team are expected to participate in
certain of the Private Placements. Finder’s fees may be paid on a portion of the Private Placements.
The Private Placements are subject to the approval of the TSX Venture Exchange and customary
closing conditions.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jo Price, P.Geo.,
M.Sc., VP Exploration of Ethos, and a Qualified Per son as defined under National Instrument 43-101
(“NI 43-101”).
About Ethos Gold Corp.
Ethos Gold, a Discovery Group company, has accumulated a portfolio of district scale projects in British
Columbia, Ontario, Quebec, Newfoundland, and Nevada that we believe have large scale discovery
potential. The Company has a strong technical team led by Dr. Rob Carpenter, formerly the CEO of
Kaminak Gold Corporation. Rob led the Kaminak team from initial listing in 2005 through acquisition
and discovery of the multiple-million ounce Coffee Gold Project. In Ethos he has assembled a senior
geologic team with a strong record of discovery success including Dr. Robert Brozdowski, P.Geo., Dan
MacNeil, M.Sc., P. Geo, and Dr. Alan Wainwright, P.Geo. Dr. Quinton Hennigh, an economic geologist
with 25 years of exploration experience formerly wi th Homestake Mining Company, Newcrest Mining
and Newmont Mining Corp oversees the Company’s work at the Iron Point project in Nevada. With
working capital of approximately C$4.5 million, the Company is well funded to advance its projects.
Ethos Gold Corp.
Per: “Alex Heath ”
Alex Heath, CFA, President
For further information about Ethos Gold Corp. or t his news release, please visit our website at
ethosgold.com or contact Alex Heath at 604-354-2491 or by email at [email protected] .
Ethos Gold Corp. is a proud member of Discovery Gro up. For more information please visit:
discoverygroup.ca
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, statements regarding the Company’s plans with respect to the Company’s projects and the timing
related thereto, the merits of the Company’s projects, the Company’s objectives, plans and strategies, the Private Placements,
and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance
that such expectations will prove to be correct. Fo rward-looking statements are statements that are not historical facts; they
are generally, but not always, identified by the wo rds “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,”
“projects,” “aims,” “potential,” “goal,” “objective ,”, “strategy”, “prospective,” and similar expressi ons, 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 s tatements are based on the beliefs, estimates and o pinions 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 results and future events
could differ materially from those anticipated in s uch statements. Except to the extent required by ap plicable securities laws
and the policies of the TSX Venture Exchange, the C ompany undertakes no obligation to update these for ward-looking
statements if management’s beliefs, estimates or op inions, or other factors, should change. Factors th at could cause future
results to differ materially from those anticipated in these forward-looking statements include the ri sk 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 governmen tal clearances,
necessary to carry out the Company’s exploration plans, risks and uncertainties related to the COVID-19 pandemic, risks and
uncertainties related to the Company’s ability to c omplete the Private Placements and the size of the Private Placements,
and the risk of political uncertainties and regulat ory or legal changes in the jurisdictions where the Company carries on its
business that might interfere with the Company’s bu siness and prospects. The reader is urged to refer to the Company’s
reports, publicly available through the Canadian Se curities Administrators’ System for Electronic Docu ment 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 respo nsibility for the adequacy or accuracy of this
release.