Overview

In 1970, regional silt sampling by Silver Standard identified the Bridget Property area as one of three significant copper-silver anomalies along with what is now the Minto mine (Capstone) and the Lucky Joe prospect (Copper Ridge) in the region. In 2001 Shawn Ryan following up on government airborne magnetic surveying recognized the association of gold with the historically identified copper targets and the coincidence of this mineralization to magnetic highs.

The Bridget Property was explored by Shawn Ryan over three years between 2005 and 2008. Work included prospecting, geochemical sampling (a total of 1,455 soil samples collected) and ground magnetic surveying (~32 line kms) on the Bridget property. Soil sample analyses from the 2008 detailed soil grid indicate a geochemically anomalous area greater than 750 meters in length with copper >200 to 711 ppm coincident with anomalous bismuth (to 155 ppm) and molybdenum (to 322pmm) associated with a strong magnetic anomaly. The results suggest similarities with the Minto and Lucky Joe areas of mineralization.

The Bridget property option agreement calls for Ethos to make cash payments aggregating $550,000, incur exploration expenditures aggregating $2.5 million and issue up to 1.25 million shares staged over the five-year term of the option. More specifically, to acquire and maintain the Bridget option, Ethos will make upfront payments of $100,000 cash and 250,000 common shares. To maintain the option, Ethos will be required to make additional option payments of $450,000 in cash and issue 1.0 million shares, staged over four years. Upon completion of $4.0 million in exploration expenditures, Ethos will be required to issue an additional 250,000 shares; and upon completion of $7.5 million in exploration expenditures it will be required to issue an additional 250,000 shares.