Wolf Claims

The Wolf Claims are located approximately 150 kilometers south of Dawson City, Yukon. The claim group consists of 238 claims covering 4,815 hectares in the newly discovered, White Gold District, Dawson Range, west-central Yukon. The Wolf claims are helicopter accessible from Dawson City. The Wolf claims are located 35 west of the Coffee Project (Kaminak Gold Corp.) and 40 km southwest of the Golden Saddle deposit (Kinross Gold Corp.). These claims are considered prospective for near-surface, bulk tonnage gold analogues to the recently discovered Coffee and Golden Saddle deposits.

The Wolf Claims cover an area that has undergone three prior phases of exploration. The area was originally staked as the Aries claims in December, 1969 by Quintana Minerals Corporation, which carried out geochemical grid soil sampling, geological mapping and a bulldozer trenching in 1970. This area was restaked as the Eyrie claims in July, 1975 by Dennis Millburn and restaked again as the Hope claims in August, 1994 by O. Davis. Shawn Ryan staked in July, 1998 and carried out geochemical rock, silt and soil sampling program. In May, 1999, Deltango Gold Ltd staked in this area and carried out geochemical sampling and geological mapping.

Prospecting, geochemical sampling (601 soil samples) and ground magnetic surveying on the Wolf property has delineated 3 robust anomalies. Anomaly 1, the highest priority target measuring 710 meters in length, is defined by elevated gold (Au), arsenic (As) and antimony (Sb). This is similar to anomalies defined by Kaminak Gold Corporation on the Coffee Project and Underworld Resources on the White Gold project where subsequent trenching and drilling led to the discovery of significant bedrock gold mineralization. This anomaly is characterized by a robust multi-element, multi-line geochemical signature defined by Au (up to 25.2 ppb), As (up to 492 ppm) and Sb (up to 19.0 ppm), coincident with a magnetic low signature. Anomaly 2 consists of a coincident gold (up to 50.1 ppb) antimony (up to 97.7 ppm) geochemical anomaly measuring 610 meters by 300 meters. Anomaly 3 is a multi-line gold (up to 32.5 ppb) anomaly measuring 600 meters in length.

Ethos has an option from Shawn Ryan (Wildwood Exploration Inc.) to acquire a 100% interest in the Wolf properties. The Wolf property option agreement calls for Ethos to make cash payments aggregating $550,000, incur exploration expenditures aggregating $2.5 million and issue up to 1.75 million shares staged over the five-year term of the option.