Ethos Acquires 20 Kilometers of Claims Along Coffee Fault, White Gold District, Yukon
07 July 2011 - 4:00AM
Marketwired
Ethos Capital Corp. (the "Company" or "Ethos") (TSX VENTURE:
ECC)(OTCQX: ETHOF)(FRANKFURT: 1ET) is pleased to announce that it
has staked an additional 1,316 claims at the Hayes Property in the
highly prospective White Gold District approximately 120 km south
of Dawson City, Yukon. The new claims are contiguous with and along
strike from Ethos' adjacent Betty Property (see November 30, 2010
News Release) and south of the Bridget Property (see March 2, 2011
News Release) which were acquired under option agreements from
Shawn Ryan and Wildwood Exploration Inc. (collectively the
"optionors"). The Hayes Property covers an additional 20 kilometers
of the interpreted Coffee Fault structure and is situated along
strike from Kaminak Gold Corporation's Coffee Property. The Board
of Directors has approved an additional $650,000 to be added to the
$6 million exploration budget (see May 10, 2011 News Release), to
cover acquisition and exploration expenditures on the Hayes
Property.
The newly staked Hayes Property claims are deemed to be Tie-In
Claims under the terms of the Company's property option agreements
with the optionors, and thus become subject to the terms of those
agreements, including the 2% NSR and buyback provisions as
disclosed in the November 30, 2010 and March 2, 2011 news
releases.
Ethos now has a substantial property portfolio totaling 4,963
claims or approximately 1,038 square kilometres (103,857 hectares)
in the White Gold District optioned from target generator Shawn
Ryan and Wildwood Exploration Inc. Ethos has attained a dominant
position along the Coffee fault, totaling 40 kilometers of strike
length immediately to the east of Kaminak Gold Corporation's Coffee
Property.
Ethos' five main properties, plus the small Rude Creek Property,
are summarized in the following table:
Property Claims Hectares
Hayes 1,316 27,539
Wolf 238 5,059
Betty 730 15,259
Bridget 2,191 45,799
Hen 476 9,950
Rude Creek 12 251
TOTALS 4,963 103,857
To view a claims map, please CLICK HERE
http://www.ethoscapitalcorp.com/i/maps/ECC_ClaimsMap_4Jul11.jpg
The $6.6 million systematic exploration program of Ethos'
properties is well underway. The regional "ridge and spur" soil
sampling on the Hen, Betty, and Bridget properties is nearing
completion. Prospecting and mapping surveys have identified new
zones of mineralization with rock sample assay results expected
within two weeks. An update of all exploration efforts is expected
to be issued shortly.
This news release has been reviewed and approved by Peter
Tallman, P.Geo, Chief Operating Officer of Ethos Capital Corp. and
Qualified Person for the Yukon projects as defined by National
Instrument 43-101.
Gary Freeman, President & CEO
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 acquisition of the Hayes Property claims
and a brief update of the current exploration program. 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, and the risk of political
uncertainties and regulatory or legal changes in Mexico 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.
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.
Contacts: Ethos Capital Corp. Gary Freeman 604-682-4750 Ethos
Capital Corp. Andy Hay 604-682-4750 www.ethoscapitalcorp.com
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