Vancouver, British Columbia--(Newsfile Corp. - December 17, 2019) - Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) ("Ethos" or the "Company") is pleased to announce that the Company has filed a National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") technical report for its Ligneris gold project (the "Ligneris Project") located 110 km north of Val'd'Or, Québec, entitled "NI 43-101 Technical Report for the Ligneris Property, Québec, Canada, Lithogeochemical and Geological Interpretation", with an effective date of November 28, 2019 (the "Technical Report"). The Technical Report is available under the Company's SEDAR profile at www.sedar.com.
The Technical Report was prepared by Stéphane Faure, PhD, P.Geo. and Claude Savard, P.Geo. of InnovExplo Inc., each of whom is a "Qualified Person" as defined under NI 43-101 and independent of Ethos.
The Technical Report presents the results of geochemical, geophysical, structural, and geological compilation and interpretation of historical and recent data on the Ligneris Project. The report recommends two phases of exploration work: Phase 1 includes geological sampling, 6,500 metres of diamond drilling, borehole geophysics and a till survey. Phase 2 includes an additional 8,000 metres of diamond drilling and further borehole geophysics.
Ligneris Option Agreement
Ethos can earn a 51% interest in the Ligneris Project by issuing to Société d'exploration minière Vior Inc. 1.0 million Ethos shares and incurring $3.0 million in expenditures over the first four years of the agreement. Following an initial earn-in to 51%, Ethos will have 60 days to elect to earn-in a further 19% interest (thereby increasing its total interest to 70%) by incurring an additional $4.0 million in expenditures over the subsequent three years.
The technical content disclosed in this press release was reviewed and approved by Jo Price, MBA, P. Geo., M.Sc., VP Exploration of Ethos and a "Qualified Person" as defined under NI 43-101.
Ethos Gold Corp.
Per: "Craig Roberts"
Craig Roberts, P.Eng., 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) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the Company's intention to acquire an interest in the Ligneris Project and planned exploration activities at the Ligneris 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, possible, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, 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, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes 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.
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