Greenbank Capital Portfolio Company Ubique Minerals Reports Encouraging Results from its Fall 2020 Work Program

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TORONTO, ON / ACCESSWIRE / February 12 , 2021 / GreenBank Capital Inc. (CSE:GBC) (OTCMKTS:GRNBF) (FRA:2TL) (“GreenBank” or “the Company”) is pleased to report that on February 8th, 2021 its portfolio company Ubique Minerals (CSE:UBQ) (“Ubique”) announced results of analyses of soil samples collected on one of the eastern Mineral Licenses of Ubique’s Daniel’s Harbour, Newfoundland, property. These latest results extend and better define the size of the zinc soil anomalies identified in earlier sampling in 2018 and 2019 and reveal high zinc values that need further definition.

The area covered by sampling is approximately 2 x 2 kilometres and the area is 8 kilometres northeast of the area of the PE Zone diamond drilling reported by Ubique’s press release dated January 11th, 2021 and 12 kilometres northeast of the Ophir Gold Option diamond drilling reported by Ubique’s press release dated January 25th, 2021.

Gerald Harper, Chief Executive Officer of Ubique Minerals said “We have been trying to find the limits of this area of anomalous zinc in soil now for 3 years and each time we add more sampling we extend the anomalous area further. This bodes well for future expansion and more sampling is needed to investigate this area on trend from all the other zinc deposits found and mined.”

All analyses were undertaken by Eastern Analytical Ltd of Springdale, Newfoundland and Labrador. Eastern Analytical is I.S.O. 17025 Accredited in Fire Assay Au, as well as in multi-acid ore grade assays in Cu, Pb, Zn, Ag, Fe and Co.

Ubique’s exploration programs in 2017 and 2018 received financial support from the Government of Newfoundland and Labrador’s Junior Exploration Assistance Programs and the Company has applied for financial assistance from the program for 2020.

Commenting on the latest test results from Ubique, GreenBank CEO David Lonsdale said “We are really pleased with these highly interesting test results and would like to congratulate the whole Ubique team on the excellent progress they have been making”

Separately, GreenBank announces that it has reached an agreement to extend the expiry period of its previously disclosed Call Option to acquire the remaining 81% of its portfolio company Staminier Limited (“Staminier”) until April 14, 2021. This extension provides additional time for GreenBank to exercise the Call Option at its sole discretion and on the basis that any and all necessary regulatory requirements are fulfilled.

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GreenBank is listed on the Canadian Securities Exchange, the Frankfurt Boerse and on the OTC Markets in the USA (trading symbols CSE: GBC and FRA: 2TL and OTCMKTS: GRNBF). GreenBank seeks to invest in and work with globally-scalable companies and is focused on building consistent capital appreciation for its shareholders.

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SOURCE: GreenBank Capital Inc.

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