Dr. Gerald Harper of Ubique reports

UBIQUE MINERALS AND KAPUSKASING GOLD CORP AGREE ON LETTER OF INTENT FOR UBIQUE TO OPTION DANIEL'S HARBOUR NEWFOUNDLAND PROPERTY.

Ubique Minerals Ltd. and Kapuskasing Gold Corp. have signed a letter of intent which contemplates Kapuskasing granting Ubique an option to earn a 55-per-cent or greater interest in Kapuskasing's Daniel's Harbour property in western Newfoundland, which comprises 42 claim units covering an aggregate of 1,326 hectares, adjoining Ubique's Daniel's Harbour property to its west and making for a contiguous property area of more than 4,000 hectares.

The letter of intent provides the companies with a short time frame in which to complete due diligence and a definitive agreement. Pursuant to the letter of intent, Ubique would exercise the option by making the work and payment commitments as follows:

• On the date of signing of the definitive agreement, $10,000 cash and 500,000 shares of Ubique;
• Prior to March 9, 2019, a minimum work expenditure of $12,000 and file an assessment report;
• Prior to Sept. 15, 2019, a minimum work expenditure of $100,000 inclusive of the $12,000 above;
• Prior to one year from the definitive agreement date, $10,000 in cash and an additional 300,000 common shares of Ubique;
• Prior to Feb. 28, 2020, make a minimum additional work expenditure of $200,000;
• Prior to two years from the definitive agreement date issue an additional 200,000 common shares of Ubique;
• Prior to Feb. 28, 2021, a minimum additional work expenditure of $300,000, which expenditures will include any payments and commitments needed to be made to the underlying vendors of the optioned property;
• Upon Ubique having made the above expenditures and payments, Ubique will have earned a 55-per-cent interest in the property. Ubique will be granted the option to earn an additional 15-per-cent interest in the property by spending an additional $400,000 on exploration and paying the underlying vendors a cash payment of $40,000 as required by the underlying agreement with the vendors.

Upon Ubique earning either a 55-per-cent or 70-per-cent interest in the property, the companies will form a joint venture to continue exploration or Kapuskasing may elect to grant Ubique the right to earn an additional 5-per-cent interest in the property for every additional work expenditure of $100,000 to a limit of 95-per-cent ownership by Ubique, at which time the agreement provides for Kapuskasing's interest to be converted to a 2-per-cent net smelter royalty.

Ubique will then have the right to buy back 1.75 per cent of the NSR for $2-million. The underlying vendors will be entitled to an NSR of 3 per cent of which 2 per cent may be repurchased for $2-million. In addition, the underlying vendors may be entitled to a bonus payment in the event that the operator delineates a National Instrument 43-101 compliant resource of a minimum of five million tonnes of ore with a grade of at least 7 per cent zinc.

The KAP property covers most of the area of the historic mining areas of the former Daniel's Harbour mine and, once the definitive agreement has been executed, Ubique intends to review all the relevant historic data relating to diamond drilling in the vicinity of the mined out areas to determine where and what potential exists for extensions of historically mined areas.

Ubique chief executive officer Dr. Gerald Harper commented: "The company has had considerable success identifying extensions of historically mined areas on its own property and considers that some of the historically mined areas on the Kapuskasing property should have similar high potential and that with a combined exploration target area of more than 4,050 hectares the likelihood of defining a large enough resource for consideration of development has been significantly enhanced."

More information regarding Ubique's exploration activities and results will be found on its website.

Dr. Gerald Harper, PGeo (Ontario), the CEO of Ubique, is the qualified person as defined by National Instrument 43-101, responsible for the technical data presented herein and has reviewed and approved this release.

About Ubique Minerals Ltd.

Ubique Minerals has focused on exploration of its 100-per-cent-owned Daniel's Harbour zinc property in Newfoundland, and was initially financed for two years by private equity including that from Greenbank Capital Inc. Ubique has undertaken one drilling program on its Daniel's Harbour zinc project in 2017 and two more drilling campaigns in 2018, all of which were successful in delineating zinc mineralization extending from the vicinity of former mine workings.

An anonymous director reports