Vancouver, BC — September 19, 2012 Ethos Gold Corp. (the “Company” or “Ethos”) (TSX-V: ECC) has released exploration results from reverse circulation drilling (61 holes), grid soils (8,700 samples) and prospecting (166 samples) on the Betty property located in Yukon Territory, Canada within the Tintina Gold Belt. The RC drill holes successfully identified bedrock sources for gold within the 17 square kilometer Mascot Creek gold-in-soil anomaly; the grid soils and prospecting successfully identified tested new gold-in-soil anomalous areas of the Betty property along the Coffee fault. Additional work including diamond drilling is warranted for the Betty property in 2013. Ethos has ample working capital of $9 million to fulfill a 2013 exploration program.
The Betty property is situated adjacent to Western Copper and Gold Corp’s Casino property which hosts 8.3 M oz gold. The Betty property is also situated adjacent to Kaminak Gold Corp’s Coffee property where ongoing exploration continues to encounter gold mineralization.
Ethos’ 2012 exploration on the Betty property targeted the 17 square kilometer Mascot Creek gold-in-soil anomaly outlined by Ethos in 2011 and where Ethos identified gold in pit trenches at widespread locations. The anticipated geological target was bulk-tonnage epithermal mineralization similar to Kaminak’s Coffee property; instead the gold mineralization intersected by RC drilling within the Mascot Creek anomaly is developed within “bonanza veins” which exhibit colloform quartz and bladed calcite indicative of epithermal or bonanza silver-gold environments of deposition.
A total of 61 reverse circulation (“RC”) drill holes were completed testing this large area. Drill holes were generally spaced 200 meters to 500 meters apart on interpreted soil/fault structures, to maximize the area tested. For example, holes BETR12-023 and -024 tested the same fault target at 500 meter spacing, and holes -004, -003, -002, -001, -018, and -048 tested the Bond target over a 2 km strike length also at ~500 meter spacing. Highlights of the widespread drilling include:
BETR12-012: 3.0 meters of 29.8 g/t Au and 27 g/t Ag (30.3 g/t AuEq) from 27.2 meters;
BETR12-014: 12.2 meters of 2.0 g/t Au and 19 g/t Ag (2.4 g/t AuEq) from 108.2 meters;
BETR12-022: 41.1 meters of 2.6 g/t Au and 107 g/t Ag (4.7 g/t AuEq) from 16.8 meters;
BETR12-023: 1.5 meters of 3.8 g/t Au and 292 g/t Ag (9.6 g/t AuEq) from 78.7 meters;
BETR12-024: 1.5 meters of 0.9 g/t Au and 280 g/t Ag (6.5 g/t AuEq) from 14.9 meters;
BETR12-027: 1.5 meters of 1.1 g/t Au and 98 g/t Ag (3.1 g/t AuEq) from 15.3 meters
and also 22.9 meters of 0.5 g/t Au from 103.6 meters;
BETR12-052: 3.0 meters of 0.9 g/t Au and 91 g/t Ag (2.7 g/t AuEq) from 83.8 meters;
BETR12-061: 3.0 meters of 0.9 g/t Au and 85 g/t Ag (2.6 g/t AuEq) from 106.7 meters.
Results for the entire 61 hole program, including the first 22 reported June 26, 2012, are tabulated on the Ethos website at www.ethosgold.com/i/pdf/BETR_AssaySummary_19Sep12NR.pdf. Collar locations including dip, azimuth, and end of hole depth is tabulated at www.ethosgold.com/i/pdf/BETR_Drillhole_Location_19Sep12_NR.pdf. Maps with drill collar locations and results are posted on the website at http://www.ethosgold.com/s/betty_maps.asp.
A total of 8,700 detailed grid soils were collected in 2012 in the north-central portion of the property, extending grid soil coverage to ~35% of the Betty project. These new soils targeted the Coffee fault structure and identified new gold potential in a different environment within the property. Three new areas of gold-enriched soils associated with As, Sb, Ag, and Pb were identified; the first and primary anomaly is an approximately 12 sq. km anomaly with gold in soil results up to 1.2 g/t. These anomalies are all associated with the Coffee Fault zone. A map of the soil results is available on the website at http://www.ethosgold.com/i/maps/yukon/Betty_Soils_NR_19Sep2012.jpg.
A total of 166 prospecting rock grab samples were collected and two new areas of anomalous sub-cropping gold mineralization were identified. In the vicinity of Mercedes, two grab samples collected 400 meters and 600 meters north of the Mercedes target area assayed 1.4 g/t Au with 576 g/t silver and 0.4 g/t Au with 78 g/t Ag. Along the Coffee fault structure, follow up prospecting identified areas of impressive quartz veins and quartz breccia (See Photo here: www.ethosgold.com/i/photos/betty/CoffeeFault_SIL_QV_breccia.jpg) hosted by faulted Klondike schist. Seven reconnaissance grab samples assayed between 0.7 g/t to 3.9 g/t gold with 11 g/t to 86 g/t Ag.
Gary Freeman, CEO and President of Ethos Gold Corp states “The Company has identified gold showings in two environments at the Betty Project and has shown the gold potential of the Betty project area to be robust. The Company plans to follow up these discoveries with a diamond drill core program next summer. The drill program will help our geology team determine the extent of the gold-mineralized systems we have encountered and to allow an understanding of the structural controls. We continue to be excited by the exploration potential of our properties within the prolific Tintina Gold Belt.”
The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo, Chief Operating Officer of Ethos Gold Corp. and Qualified Person as defined by National Instrument 43-101 policy.
All RC drill hole sample intervals are measured down hole. Geometry or thickness of veins is unknown. Gold equivalent is calculated at 50:1 for silver to gold. RC drill rods used in this program collect a 5 foot (1.5 meter) sample. RC drill chip samples were analyzed at Acme Analytical Laboratories (“Acme”) for gold using a 30 gram sub-sample by fire assay with an atomic absorption finish under 10 g/t Au and a gravimetric finish re-assay for results greater than 10 g/t Au. All rocks were also analyzed by multi-element ICP-MS. Over-limit amounts of silver (greater than 100 g/t) are re-assayed using a 30 gram sub-sample by fire assay with a gravimetric finish. Acme is ISO 9001 certified. Analytical QA/QC programs monitoring the precision and accuracy of results includes the routine use of assaying sample duplicates, certified reference standard(s), and both assay and prep wash blanks. Ethos uses protocols standard to the industry and professional QA/QC procedures which also includes the retention of pulps and coarse rejects and the maintenance of chain-of-custody among other procedures.
About Ethos Gold Corp.
Ethos’ principal asset is its substantial mineral land position totalling 1,020 square kilometers in the heart of the White Gold/Klondike gold district directly adjacent to Kaminak Gold Corporation’s Coffee Gold Project and Western Copper Corporation’s feasibility stage Casino gold – copper project. Ethos has working capital of approximately $9 million. Ethos currently has approximately 42.9 million shares issued and outstanding.
For additional information please contact Gary Freeman or Fred Leigh at 604-682-4750.
Ethos Gold Corp.
Per: “Gary Freeman”
Gary Freeman, 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) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions:
This press release may contain certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the Company’s planned 2019 exploration program for its Pine Pass project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be 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," 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 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 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 obligation 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 these forward-looking statements include the risk 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 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 the 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 Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects