MinKap Reports Drill Results From Daniel’s Harbour Zinc Property, Newfoundland

TORONTO, October 21, 2019 - MinKap Resources Inc. (TSXV:KAP) (the "Company" or "KAP"), announces it has received assay results from the first three diamond drill holes drilled by joint venture partner Ubique Minerals Limited ("Ubique") (CSE:UBQ) at the Daniel's Harbour Zinc Property, Newfoundland. The holes were drilled into targets on the KAP option property and were targeted to duplicate intersections by historic holes into three zones of mineralization. All intersected zinc mineralization as previously identified by the historic drilling. Drill holes were vertical holes and intersected approximately true thicknesses of the near flat sedimentary host rock horizons.

• All intercepts are close to true width as the mineralization is hosted in a flat lying horizon

Zinc mineralized intervals identified in the core logging were sampled by half core sawing, with one half of the core shipped to Atlantic Analytical Laboratories of Springdale, Newfoundland for assaying. Atlantic Analytical is an ISO 17025 registered laboratory. Appropriate standards and blanks were inserted into the samples sequence for quality control in accordance with Ubique's standard QA/QC protocol which was developed for the drill program in 2018 (see Ubique Minerals Limited (CSE:UBQ) press release dated November 30^th, 2018).

Each of the recent drill holes was collared within 1 metre of the collars of the historic holes and like the historic holes were drilled vertically. The historic holes were drilled with a smaller diameter core recovery (AQ - 27mm diameter approximately) than the recent drill holes which were B-thin wall core size being approximately 36mm in diameter. Holes drilled with smaller sized drill rods may deviate more from their original orientation as the holes progress deeper. Therefore it is possible that even though the pairs of holes were collared only 1 metre apart, their spacing at the depth of the mineralized interval could have been greater. Down hole surveys were not made on either the historic or recently drilled holes so no estimate of possible deviation can be made. Such deviation would also affect the recorded depth of the mineralization in each hole which could explain why the variation of intervals recorded by the new and old drill holes is greater with greater depth. As holes deviate from vertical they no longer cut the zinc mineralized zone at a true thickness.

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

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 current 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 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 are cautioned not to place undue reliance upon forward-looking statements.

SOURCE: MinKap Resources Inc.