Vancouver, BC — October 6, 2011 – Ethos Capital Corp. (the “Company” or “Ethos”) (TSX-V: ECC) (OTCQX: ETHOF) (FRANKFURT: 1ET) reports gold analyses from rock grab samples up to 24.8 g/t gold with 19 g/t silver from trenches at the Mercedes zone, and 7.3 g/t gold and 78 g/t silver from a soil sample at the Spitz zone in the area of Mascot Creek at the Betty Property, located east along-strike of Kaminak Gold Corporation’s (“Kaminak”) Coffee discovery in the White Gold District, west-central Yukon Territory, Canada.
The Mascot Creek anomaly encompassing a 15 square kilometer area (see August 9, August 29 and September 12, 2011 News Releases) has been subdivided into seven zones; Mercedes, Thornton, Spitz, Miller, Perrault, Bond, and Marshall. The zones were divided based on interpreted magnetic lineaments combined with anomalous soil chemistry, encouraging assays from prospecting rock grab samples, and visual results from recently completed prospecting pits.
To view a compilation map of the Betty property gold soil anomalies please click here.
A preliminary detailed map of the Mascot Creek area soil anomalies with the location of the individual zones can be viewed by clicking here.
A total of 11,225 soil samples have been collected from the Betty Property in three phases during 2011. Analyses for 7,464 have been received; 3,761 results of Mascot grid infill and extensions are still pending and due in October. All of the seven zones remain open and further definition will be provided by the pending soil results. Gold has a strong positive correlation with arsenic (statistically >70%) in the Betty soil results; arsenic is an excellent pathfinder for gold at Betty.
Peter Tallman, COO of Ethos states “All rock, soil, and trench/pit results so far continue to indicate potential in the Mascot Creek area for a large gold-mineralized system. We have begun to identify specific targets within this anomalous area”.
Significant Results to Date
Two new rock grab samples at the Mercedes zone from a previously sampled trenching pit (see September 12, 2011 News Release) assayed 18.4 g/t gold with 45 g/t silver and also 19.8 g/t gold with 21 g/t silver from arsenopyrite (arsenic sulphide) veining. One rock grab sample of similar mineralization from a pit 20 meters away to the northeast assayed 24.8 g/t gold with 19 g/t silver. A fourth rock grab sample from a pit 100 meters to the north assayed 1.2 g/t gold from a silicified felsic intrusive rock.
The Mercedes anomaly is defined by >75 ppb gold in soils 1,200 meters long and up to 450 meters wide at values above 50 ppb Au. The maximum gold soil value is 1,149 ppb Au and the anomaly is open to the south. The Mercedes zone has had preliminary trenching and pitting completed and one of the pits on the southernmost end previously yielded arsenopyrite veining that assayed 16.4 g/t gold and 10 g/t silver (see September 12, 2011 News Release).
The Spitz anomaly is 600 meters long with a maximum soil value of 7,288 ppb gold (7.3 g/t Au) with 78 g/t silver and is open ended. The 7.3 g/t gold in soil anomaly is the second highest soil result known to the Company in the Klondike-White Gold district and is comparable to the highest gold soil values at White Gold (Underworld) and Coffee (Kaminak).
The Thornton anomaly is 850 meters in length with nine soil sites >100 ppb gold up to 306 ppb gold and is open ended. It is defined primarily by gold anomalous ridge-and-spur reconnaissance soil samples; additional soil samples are pending.
The Miller anomaly is 700 meters in length with values in soils up to 560 ppb gold and is up to 150 meters wide at values above 50 ppb Au. One rock sample grab from a prospecting pit in the middle of the anomaly assayed 1.3 g/t gold with 6 g/t silver.
The Perrault anomaly is 800 meters in length with soil values up to 792 ppb gold. So far this is the only soil anomaly that appears to be fully constrained.
The Bond anomaly is 1,000 meters in length and open-ended with soil values up to 1,136 ppb gold. The soil anomaly corresponds to a north-south oriented magnetic ‘break’ feature. Two previously reported rock grab samples from a backhoe-dug trench assayed 0.7 g/t to 0.9 g/t gold with 8 g/t to 10 g/t silver were from the Bond anomaly (see September 12, 2011 News Release).
The Marshall anomaly is 600 meters long and has soil values up to 935 ppb Au, however it is minimally defined by current soil results. Additional soils are being assayed which should provide better definition of this zone.
Results to Come
Approximately 5,000 meters of trenches and trenched prospecting pits have been completed on the Betty Property with assay results pending from approximately 1,200 samples systematically collected from these sites. Analyses are also pending for 3,761 soils collected and submitted for analysis.
Results from soils, rocks, and prospecting of the Bridget, Hayes, Hen, and Wolf Properties are being received. A summary of results from these projects will be forthcoming upon receipt of pending analyses and completion of initial compilation.
Ethos has 5,089 claims covering an area of 1,063 square kilometers in the emerging White Gold District. Ethos’ Betty Property, comprised of 856 claims covering 179 square kilometers, is situated immediately east of Kaminak’s Coffee Property. Gold mineralization at Kaminak’s flagship Coffee Property is associated with a regional scale structural corridor termed the “Coffee Fault”. The Coffee Fault is defined by a pronounced east-west trending topographic and magnetic lineament that transects Ethos’ Betty Property. The Coffee Fault and subordinate structures are the focus of Ethos’ Betty Property exploration program.
Gary Freeman, CEO and President of Ethos states “These rock and soil results continue to validate the concept that the Mascot Creek area is one of the most significant anomalies to be identified in the White Gold region and is comparable to the early stages at both the White and Coffee discoveries. We are very excited by these exceptional early indications of a gold endowment at Betty”.
A comprehensive QA/QC program is in place to monitor precision and accuracy of analytical results. All soil samples are submitted to Acme Analytical Laboratories Ltd. (“Acme”) for analysis. Soil sample field duplicates are routinely collected and inserted into the analytical stream as are pulp duplicates, as well as certified reference materials and blanks.
Soil samples are analyzed by Acme Analytical Laboratories Ltd. A 15 g sub-sample of soil material is ignited, acid digested, and gold determined by ICP-MS; a 0.5 g sub-sample undergoes aqua regia digestion with ICP-MS analysis for 36 reporting elements.
Rock samples in this news release were analyzed at 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 if greater than 10 g/t Au. All rocks are also analyzed by ICP-MS using the same methodology as soils.
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. Acme is ISO 9001 certified.
Ethos uses protocols standard to the industry and professional QA/QC procedures for assaying including the use of laboratory standards, blanks, and duplicates, the retention of pulps and coarse rejects, and the maintenance of chain-of-custody among other procedures.
The technical information contained herein 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 40.8 million shares issued and outstanding, and working capital of approximately $15 million.
For additional information please contact Fred Leigh or Gary Freeman at 604-682-4750 or visit the company website at www.ethoscapitalcorp.com.
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