Kapuskasing GOLD Corp. and Ubique Minerals Inc. Execute Option Agreement FOR Daniel’S Harbour Property, Newfoundland
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
KAPUSKASING GOLD CORP. AND UBIQUE MINERALS INC. EXECUTE
OPTION AGREEMENT FOR DANIEL’S HARBOUR PROPERTY,
NEWFOUNDLAND
Toronto, Ontario, February 14, 2019 – Kapuskasing Gold Corp. (TSX-V:KAP) (“Kapuskasing”) and Ubique
Minerals Limited (CSE:UBQ) (“Ubique”) announce that they have executed the Option Agreement which
provides for Kapuskasing granting Ubique an option to earn up to a 70% interest in Kapuskasing’s Daniel’s
Harbour property in western Newfoundland, which comprises 42 claim units covering an aggregate of 1,326
hectares, adjacent to Ubique’s Daniel’s Harbour property to its west and making for a property area of more
than 4,000 hectares.
The Option Agreement requires Ubique to 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 common shares of
Ubique;
• Prior to March 9, 2019, incur a minimum work expenditure of $12,000 and file an assessment report;
• Prior to September 15, 2019, a minimum work expenditure of $100,000 inclusive of the $12,000
above;
• Prior to the 1 year from the date of the option agreement , $10,000 in cash and an additional 300,000
common shares of Ubique;
• Prior to February 28, 2020, make a minimum additional work expenditure of $200,000;
• Prior to 2 years from the definitive agreement date issue, an additional 200,000 common shares of
Ubique;
• Prior to February 28, 2021, incur a minimum ad ditional 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%
interest in the property. Ubique will be granted the option to earn an additional 15% 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% or 70% 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% interest in
the property for every additional work expenditure of $100,000 to a limit of 95% ownership by Ubique at
which time the agreement provides for Kapuskasing’s interest to be converted to a 2% Net Smelter Royalty
(“NSR”).
Ubique will then have the right to buy back 1.75% of the NSR for $2,000,000. The underlying vendors will
be entitled to an NSR of 3% of which 2% may be repurchased for $2,000,000. In addition, the underlying
vendors may be entitled to a bonus payment in the event that Ubique, or the Operator, delineates a National
KAPUSKASING GOLD CORP.
133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP
Instrument 43-101 compliant resource of a minimum of 5,000,000 tonnes of ore with a grade of at least 7%
zinc.
The Kapuskasing property covers most of the area of the historic mining areas of the former Daniel’s Harbour
mine and 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.
Mr. Garry Clark P.Geo, (Exploration Manager and a director of the Company ) a Qualified Person ("QP")
as defined by National Instrument 43-101, has reviewed the technical content of this release.
On behalf of the Board of Directors
Kapuskasing Gold Corp.
Jonathan Armes
President & CEO
Phone 1 (416) 708-0243
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 press release.
This press release contains forward -looking statements within the meaning of applicable Canadian and U.S. securities laws and
regulations, including statements regarding the future activities of the Company. Forward looking statements reflect the cur rent
beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”,
“plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in
forward-looking statements is subject to a number of risk s, including those described in the Company’s management discussion
and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors ar e
cautioned not to place undue reliance upon forward-looking statements.