Ethos Gold Announces Closing of Private Placement

Vancouver, British Columbia--(Newsfile Corp. - June 11, 2019) - Ethos Gold Corp. (TSXV: ECC) ("Ethos" or the "Company") announces that it has completed a non-brokered private placement for gross proceeds of $225,000 (the "Offering"). The Company issued 1,125,000 units (each a "Unit") at a purchase price of $0.20 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant") with each Warrant entitling the holder to purchase one common share of the Company at a purchase price of $0.40 per share until June 10, 2021.

The proceeds of the Offering will be used to advance the Company's exploration projects and for general working capital. The Offering is subject to final acceptance of the TSX Venture Exchange (the "Exchange"), and securities issued in the Offering are subject to a four-month hold period expiring on October 11, 2019, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada. No finder's fees were paid in respect of the Offering.

The Offering included a subscription from a related party of the Company as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"): Michael Murphy (a director of the Company) acquired 125,000 Units. The participation of Mr. Murphy in the private placement was exempt from formal valuation and minority shareholder approval requirements pursuant to exemptions contained in sections 5.5(c) and 5.7(1)(a) of MI 61-101.

About Ethos Gold

Ethos Gold is exploring the La Purisima gold project (earning 100%) in Chihuahua Mexico, the Iron Point Carlin gold project (earning 50% from Victory Metals Inc) 22 miles east of Winnemucca, Nevada, and the Perk-Rocky copper-gold porphyry project (earning 100%), 220 km west of Williams Lake, British Columbia. La Purisima is a near surface, bulk tonnage, oxide gold target, and a maiden drill program is now underway. Iron Point is a Lower Plate hosted Carlin style gold target, and a planned program of three vertical holes to test this target will commence shortly under the supervision of Dr. Quinton Hennigh. Perk-Rocky is a copper-gold porphyry target, and an exploration program including detailed airborne geophysics and ground mapping and sampling will commence shortly. Ethos also owns approximately 8% of the equity of Carlin Type Holdings Ltd., a private company earning into 100% ownership of three Nevada exploration projects, including two deep Carlin type targets (Carlin East and Selena). Ethos is also earning into the Pine Pass and Ursula vanadium projects (100% earn-in) in north-central British Columbia. In March 2019 Ethos received notice from the Province of British Columbia that the mineral tenures making up its Pine Pass vanadium project are included in an area under consideration for an immediate moratorium on development proposals and possible inclusion in an expanded environmental protected area, and Ethos is now waiting on the resolution of this issue before finalizing plans for further work.

Ethos currently has cash of approximately C$6.5 million and 56.3 million shares issued.

For additional information please contact Tom Martin at E: tmartin@ethosgold.com P: 1-250-516-2455 or view the Company's website, www.ethosgold.com and the Company's SEDAR profile at www.sedar.com.

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 plan to undertake the Offering and the contemplated use of the proceeds. 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.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45513

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