Ethos Acquires 33.5 km* Deep Cove and Virgin Arm Gold Projects, Newfoundland with Multiple High-Grade Gold Occurrences in an Orogenic Setting

Su uite 1430 – 80 00 West Pend der Street, V Vancouver, B BC V6C 2V6

uires 33.5 km² D Eth hos Acqu Deep Co ove and Virgin A Arm Gold d Pr rojects, N Newfoundland w with Mu ultiple Hi igh-Grad de Gold Occurre O ences in an Orog genic Se etting

Vancouver r, BC – Nove ember 19, 2 2020, Ethos Gold Corp

p. (“Ethos” o or the “Comp pany”) (TSX XV:ECC) (OTCQB: E ETHOF) is p pleased to a announce th hat it has en ntered into two earn-in agreements under m²) Deep Co which Ethos may earn a 100% inte erest in the 1475 hectar re (14.75 km ove claim gro oup and m²) Virgin Ar 1875 hectare (18.75 km rm claim gro oup located o on New Wor rld Island, approximately y 65 km north of Gander, Newfo oundland. Th hese projects are contiguous and ha ave good ac ccess via pav ved and gravel roads and trails.

Highlights

• Limi ited historic work including by Noranda in the 1980’s to mid d-1990’s ide entified at lea ast nine th visible gold in bedroc e than 5 km (Figure occu urrences wit ck over a str ructural corridor of more 1). R Reported hig gh-grade ass says from gr rab samples s included 34 46 g/t, 245 g g/t, 127 g/t a and 99.7 g/t g gold.

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• A lim mited seven-hole drill pr rogram by R Rubicon Mine erals in the mid-2000’s returned 5.7 7 g/t Au over r 1m, and 1.04 g/t over 9 9.1 m in reco onnaissance e drilling at tw wo locations s.

Stated Dr. Rob Carpen nter, Chief T Technical Advisor to Eth hos: “It is rar re to find a project area a of this as received this little wo ork to date. Historic size with th his number o of high grade e gold show wings that ha ging results, and the work has be een limited a and sporadic but has no onetheless d delivered very encourag ation and to look for wide open to a new effor project is w rt to underst tand the con ntrols of gold d mineraliza economic c concentratio ons of near surface go old. We ar re currently compiling a and interpre eting all off a significant program available hi istoric data l look forward d to kicking o m on the ground in the s spring of 2021, with t the intention n of developing drill targe ets.”

Stated Dr. Q Quinton Hen nnigh, adviso or to Ethos: “The widesp pread gold m mineralizatio on at Virgin A Arm and couraging especially giv Deep Cove e is very enc ven the pres sence of bo oth coarse a and fine gold

d. Gold mineralizati ion appears s to occur a at the high level within the orogenic regime a and associat ted with uring a continental collis Devonian m magmatism e emplaced du sional event. Significant gold minera alization occurs alon ng this north h-south collis sion margin extending t through cen ntral Newfou undland. Th he Deep Cove and Virgin Arm projects are e on the w western side of this ma argin in a north-south t trending sequence o of rocks tha at geologically appear to correlate to other sig gnificant gol ld occurrenc ces that ’s Valentine Lake project.”

include Mar rathon Gold’

Figure 1. D Deep Cove a and Virgin A Arm Propert ties

1 Historical as ssay values ha ave not been in ndependently v verified by the Company and d a potential in nvestor should not place undue reliance on historical results when m making an inve estment decisio on, nor should d they be used as the sole cr riterion for making invest tment decision ns. There is no

• assurance that the Compan ny can reprod duce such resu ults or that the historical

will be realized. ² Best sur results descri ibed therein w rface samples” are grab / select sample es and not ne ecessarily representative e of mineralizat tion hosted on the property.

Figure 2. P Photos of visible gold in quartz ve eining and s stockwork a at the Deep Cove prope erty

Note that thes se photos are o of selected sho owings and are e not necessari ily representati ive of the mine eralization host ted on the Deep Cove or r Virgin Arm pro operties.

Deep Cove and Virgin Arm Project Geology Overview

The Deep Cove and Virgin Arm properties lie at the northeast extent of the Exploits Subzone (Dunnage Zone) of Central Newfoundland and is underlain mostly by the Ordovician Dunnage Melange and the Badger Belt. The Exploits Subzone area trends 200km northeast / southwest across the island of Newfoundland, and hosts most of the significant gold deposits in the province. Gold mineralization is associated with arsenopyrite, pyrite, trace chalcopyrite, and both coarse and fine-grained native gold within pervasive sericite altered rocks, and concentrated along intersections between late stage conjugate brittle faults.

Work Program

Ethos is planning to start field exploration in the spring of 2021 including property-wide prospecting, mapping, and sampling with the objective of defining drill targets for testing later in 2021.

Earn-in Agreements

Ethos can earn a 100% interest in the Virgin Arm claim block by making the following cash and share payments:

• Cash payment of $60,000 on signing and 400,000 shares on Exchange approval.
• Cash payment of $75,000 and 600,000 shares at 12 months.
• Cash payment of $90,000 and 800,000 shares at 24 months.
• Cash payment of $150,000 and 1,200,000 shares at 36 months.

The vendor retains a 3% NSR royalty, of which the first 1.5% can be purchased for $1,500,000. There are no work commitments.

Ethos can earn a 100% interest in the Deep Cove claim block by making the following cash and share payments:

• Cash payment of $65,000 on singing and 600,000 shares on Exchange approval.
• Cash payment of $45,000 and 600,000 shares at 12 months.
• Cash payment of $50,000 and 800,000 shares at 24 months.
• Cash payment of $120,000 and 1,200,000 shares at 36 months.

The vendor retains a 2% NSR royalty, of which the first 1% can be purchased for $1,000,000. Ethos shall incur exploration costs of $100,000 per year on the Deep Cover claim block.

Qualified Person

The technical content disclosed in this press release was reviewed and approved by Jo Price, P.Geo., M.Sc., VP Exploration of Ethos, and a Qualified Person as defined under National Instrument 43-101 (“NI 43-101”).

Contact

For additional information please contact Tom Martin at E: [email protected] 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: "Alex Heath"

Alex Heath, CFA, President

Forward-Looking Statement Cautions:

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company’s plans with respect to the Company’s projects and the timing related thereto. 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 agency or governmental clearances, necessary to carry out the Company's exploration plans, risks and uncertainties related to the COVID-19 pandemic, 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

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.