Vancouver, BC – February 28, 2012 – Ethos Capital Corp. (the “Company” or “Ethos”) (TSX-V: ECC) (OTCQX: ETHOF) (FRANKFURT: 1ET) is pleased to announce that the Board has approved a $7.3 million 2012 exploration program focussed on the Betty Gold Property, Yukon Territory. The 2012 exploration program primarily consists of a planned 16,000 meters of drilling using two drills and the collection of 10,000 soil samples. Ethos has working capital of approximately $14 million and is fully funded for 2012. Work is expected to begin with drilling in May followed by soil sampling and other ground field work in June.
Initial exploration in 2011 on the Betty Property discovered the Mascot Creek gold target. The Mascot Creek target is comprised of a ~17 square kilometer gold-in-soil anomaly that yielded gold in prospecting rock grab samples up to 24.8 g/t Au (see October 6, 2011 News Release) and gold intervals in trench pits with the best result averaging 7.3 g/t Au over 50 meters (see October 27, 2011, November 15, 2011 and January 18, 2012 news releases).
2012 Drill Program
The plan for 2012 exploration includes mobilizing equipment and camp materials in May to the Betty Property. One reverse circulation (“RC”) rig is planned to commence drilling in May, with an additional diamond core rig to be mobilized to begin drilling as the 2012 program advances. The principal objective of RC drilling is to identify gold grades over width in bedrock beneath gold-bearing surface trench pits. The first 25 planned RC holes target directly beneath 25 unique gold intervals from 22 surface trench pits within the 17 square kilometer Mascot Creek anomaly area. A further 15 RC holes target high gold-in-soil values within anomalous trends that have not received trench pit tests. The diamond core rig will be used to follow up and systematically evaluate gold mineralization identified in bedrock by RC drilling.
To view a map of the drill target area, please CLICK HERE.
New Gold Targets
Three large new targets identified in 2011 within the Betty property have soil geochemistry, magnetic, radiometric, and geological signatures that are each equivalent in area (~20 sq. km) and alteration signature to the original Mascot Creek anomaly. These new targets will be evaluated in 2012 with 10,000 detailed soils, followed by prospecting and pit trenching. The principal objective of soil sampling is to generate new areas to test with drilling.
To view a map of the soil target area, please CLICK HERE.
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 Capital Corp. and Qualified Person as defined by National Instrument 43-101 policy.
About Ethos Capital Corp.
Ethos’ principal asset is its substantial mineral land position totalling 1,100 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 final feasibility stage Casino gold – copper project. Ethos has working capital of approximately $14 million and is fully funded for 2012. Ethos currently has approximately 42.6 million shares issued and outstanding.
For additional information please contact Gary Freeman or Fred Leigh at 604-682-4750 or visit the company website at www.ethoscapitalcorp.com.
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