Namibia Update

This news release is not for distribution or dissemination in the United States of America

TORONTO, ON / ACCESSWIRE / July 4, 2023 / Ubique Minerals Limited ("Ubique" or the "Company") (CSE:UBQ)(FRA:2UM) would like to announce the termination of the Share and Asset Purchase Agreement, as amended (the "SPA") entered into with CL US Minerals LLC (the "Vendor") previously announced in a press release on September 6, 2022. The termination of the agreement follows the expiration of the outside date for the completion of the transaction, as specified in the SPA.

Ubique Minerals Ltd respects and acknowledges the Vendor's decision to terminate the agreement. The termination releases both parties from their obligation to complete the transaction contemplated under the SPA.

Furthermore, Ubique Minerals Ltd is grateful to the Vendor for waiving the break fee in connection with the termination of the SPA.

Vilhjalmur Thor Vilhjalmsson "While we are disappointed that the Share and Asset Purchase Agreement has been terminated, we appreciate the Vendor's cooperation in waiving the break fee. Ubique Minerals Ltd remains focused on its strategic objectives and will continue to explore growth opportunities in the industry."

Moving forward, Ubique Minerals Ltd will continue to pursue its strategic goals and seek new avenues for advancement.

On behalf of the board of directors,

Vilhjalmur Thor Vilhjalmsson
Chairman and CEO

About Ubique Minerals Limited

Ubique Minerals Limited is an exploration company listed on the CSE (CSE:UBQ) is engaged in exploration of its Daniel's Harbour zinc property in Newfoundland and exploration projects in Namibia, Africa along with actively looking at other projects around the world. Ubique became a publicly listed company in September 2018. Ubique has an experienced management group with a record of multiple discoveries of deposits worldwide

For more information on Ubique please contact Vilhjalmur Thor Vilhjalmsson by e-mail at vilhjalmur@ubiqueminerals.com or see www.ubiqueminerals.com and by phone +354 8697296

Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Ubique Minerals Limited., the raising of additional capital and the future development of the business. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Ubique can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and Ubique disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Ubique Minerals Limited