Vancouver, BC — June 8, 2011 — Ethos Capital Corp. (the “Company” or “Ethos”) (TSX-V: ECC) (OTCQX: ETHOF) (FRANKFURT: 1ET) is pleased to announce the commencement of 2011 exploration activities on its properties in the White Gold District, Yukon. The Company has five separate properties in the White Gold District totalling 3,647 mineral claims covering 763 square kilometers in area. To view the location of our claims please CLICK HERE.
Ethos has budgeted $6.0 million to initiate the 2011 exploration work on its White Gold District properties (see May 10, 2011 News Release). A comprehensive and systematic exploration field program is planned. The program is comprised of soil sampling, detailed soil type mapping, airborne and ground geophysics, trenching, geology and prospecting, orthophotography and digital elevation (terrain) modeling, and 2,000 meters of diamond drilling on significant gold-in-soil anomalies at the Wolf property.
Soil Survey Program
The regional soil sampling program, a major early component of the field season, has begun. Ethos plans to collect approximately 33,000 soil samples equivalent to approximately 1,500 line kilometers of sampling to provide coverage of all areas of all properties this summer. The Phase 1 soil program is underway with crews collecting approximately 16,000 soils in total including 13,500 collectively from the Betty and Bridget properties and another 2,500 soils from the Hen property at a collection rate of approximately 2,000 soils per day. Soil samples are submitted daily to Acme Analytical’s preparation laboratory located in Dawson City, Yukon. Once prepared the soil pulps are flown to Acme’s Analytical Laboratories Ltd. located in Vancouver for analysis.
Geology and Prospecting
The geology and prospecting program is underway. The initial target to be evaluated is the Bridget porphyry target originally discovered by Silver Standard in 1970 who described chalcopyrite (copper), molybdenum, and “visible gold in thin quartz veinlets” from the prospect. Soil sampling by, the optionor, Shawn Ryan between 2005 and 2008 identified a copper-molybdenum soil anomaly 1,000 meters in length and open beyond the ends of his survey. This is the initial prospecting and mapping target. A trenching program plus detailed soils and ground geophysics is planned to further test the area following the geological evaluation. The Bridget porphyry target conceptually has similarities to the Casino copper-molybdenum-gold porphyry project located 20 kilometers to the south which contains NI43-101 mineral resources of 8.5 million ounces gold, 4.5 billion pounds copper, and 500 million pounds molybdenum (Western Copper, December 2010).
Updates and further details pertaining to the various components of Ethos’s $6.0 million exploration program in the White Gold District will be provided as these programs begin or achieve significant milestones.
The technical 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 assets are its substantial mineral land positions in the heart of the emerging White Gold / Klondike gold district, as well as its Santa Teresa and Corrales silver-zinc-lead properties in Mexico. Ethos currently has approximately 40.7 million shares issued and outstanding, and working capital of approximately $20.0 million.
For additional information please contact Gary Freeman or Andy Hay at 604-682-4750, or visit the company website at www.ethoscapitalcorp.com.
Ethos Capital Corp.
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