Minkap Announces Appointment of New Director and Closing of Second Tranche of Private Placement

MINKAP RESOURCES INC.

133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP

MINKAP ANNOUNCES APPOINTMENT OF NEW DIRECTOR AND

CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT

Toronto, Ontario, October 11, 2019 – MinKap Resources Inc. (the “Company” or “KAP”), announces

that further to its news releases of August 8, 2019, and September 19, 2019, the Company has closed the

second and final tranche of its private placement through the issuance of an additional 2,000,000 units

(“Units”) of the Company at a price of $0.05 per Unit for aggregate proceeds of $100,000. The Company

has issued an aggregate of 7,000,000 Units for gross proceeds of $350,000 (the “Offering”) with respect

to both the first and second tranche of the Offering.

Each Unit consists of one common share (each, a “Common Share”) and one Common Share purchase

warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at

a price of $0.10 for a period of twenty-four (24) months from the date of issuance.

All securities issued in connection with the Offering will be subject to a four month hold period expiring on

February 11, 2020, in accordance with applicable securities laws. The net proceeds of the Offering will be

used for general working capital purpos es. The Offering remains subject to final acceptance by the TSX

Venture Exchange.

The Company is also pleased to announce the appointment of Mr. Shawn Westcott to the Board of Directors.

Shawn has been involved in capital markets for over 10 years, serving in various capacities for both private

and publicly listed companies. Shawn has developed relationships with high net worth and institutional

investors around the globe. Prior to working in capital markets, Mr. Westcott was a licensed investment adviser

at one of the major brokerage houses in Canada.

On behalf of the Board of Directors

MinKap Resources Inc.

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 express ed in

forward-looking statements is subject to a number of risks, 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.