Initial vanadium sampling results received: Ethos increases land position and commences trenching

Ethos Gold Corp. is a Vancouver-based company that works to create value through the acquisition and exploration of mineral properties around the world. — Photo courtesy Ethos Gold Corp.

VANCOUVER, British Columbia, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Ethos Gold Corp. (“Ethos” or the “Company”) (TSXV:ECC) (OTCQX:ETHOF) is pleased to announce progress at its Pine Pass and Ursula vanadium projects in north-eastern British Columbia approximately 70 kilometers west of Chetwynd, and 200 kilometers north of Prince George.

Assays from initial soil, stream sediment and rock sampling programs completed in early August 2018 on both projects have now been received. A total of 410 soil samples were assayed with results ranging from trace up to a maximum of 5,700 ppm V (1.02% V2O5). Additionally 80 rock samples were assayed with results ranging from trace to up to a maximum of 3,540 ppm V (0.63% V2O5). An additional 21 stream and silt sample assays ranged from trace to up to a maximum of 1,510 ppm V (0.27% V2O5).

The Pine Pass sediment hosted vanadium property contains one or more mineralized horizons within a shallowly NW plunging syncline. The fold nose of the vanadiferous horizon is exposed in road cuts along the John Hart Highway where a semi-continuous section of mineralized rock is exposed over a +100 meter wide section.

First pass exploration in July/August (Phase 1) focused on tracing the mineralized zone(s) along strike to the NW. The program was successful in tracing the mineralized horizons for approximately 10 km. A second exploration program is now underway (Phase 2) and will include detailed soil sampling, trenching, rock sampling and geological mapping. To date the program has delineated the mineralized horizons on the east and west limbs of the syncline. Work will continue at least until early October or as weather permits.

Based on these results Ethos has now increased its claim area at Pine Pass to 3,752 Ha to cover additional prospective areas.

At the Ursula property, Phase 1 soil, rock and stream sediment sampling outlined similar strata-bound, sediment hosted vanadium mineralization. Utilizing these results, current Phase 2 work at Ursula includes soil and stream sediment sampling as well as trenching, sampling and geological mapping. The goal of this work is to outline the dimensions of the vanadiferous horizon(s).

Based on these results Ethos has now increased its claim area at Ursula to 3,564 Ha to cover additional prospective areas.

Ethos has allocated a budget of approximately C$270,000 for the Phase 2 work at Pine Pass and Ursula. Should ground conditions remain favorable, it is expected that up to 5,000m of soil sampling transects and 600m of hand trenching will be conducted in Phase 2. Phase 2 results are expected to help delineate targets for trenching and/or diamond drilling in subsequent exploration work.

All samples were delivered to ALS Chemex in North Vancouver, British Columbia for analysis of select elements by ICP-MS analysis using 4 acid-digestion. Quality control entailed ALS Chemex inserted blanks and standards into the sample stream. Reported standard and blank assay values were within an acceptable margin of error. Analysis of trench samples as part of Phase 2 work program includes insertion of company standards and blanks in addition to ALS Chemex inserted reference materials.

Work at Pine Pass and Ursula is being supervised by Jo Price, M.Sc., MBA, P.Geo who has been retained by Ethos on a consulting basis. Mel Herdrick, a director of and consultant to the Company, is a Qualified Person as defined under National Instrument 43-101, has read and approves this release.

For additional information please contact Craig Roberts at 604-682-4750 or the Company’s website, www.ethosgold.com.