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K92 Mining Inc. (KNT.V)

TSXV - TSXV Real Time Price. Currency in CAD
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6.71-0.52 (-7.19%)
At close: 3:59PM EDT
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Previous Close7.23
Open7.01
Bid6.70 x 0
Ask6.86 x 0
Day's Range6.62 - 7.08
52 Week Range1.55 - 8.50
Volume1,464,097
Avg. Volume1,391,538
Market Cap1.44B
Beta (5Y Monthly)1.35
PE Ratio (TTM)32.42
EPS (TTM)0.21
Earnings DateMay 14, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est6.92
  • K92 Mining Announces Bulk Sample Preliminary Results at Judd Vein System and Commencement of Phase 1 Judd Drill Program
    GlobeNewswire

    K92 Mining Announces Bulk Sample Preliminary Results at Judd Vein System and Commencement of Phase 1 Judd Drill Program

    Figure 1 Location of Near-Mine Vein Targets Figure 2 June 1 Vein Plan View Channel Samples Figure 3 Plan View of Phase 1 Judd Exploration Drilling Plan * First significant exploration undertaken on Judd by K92, with approximately 109 metres of 5.5m x 5.5m development completed on Judd 1 Vein, one of four known Judd veins. Based on grade control channel sampling, an estimated 6,200 tonnes at 5.5 g/t gold equivalent (“AuEq”) or 3.6 g/t gold, 1.11% copper and 19 g/t silver with an average thickness of 3.4 metres was extracted from Judd 1 Vein.   * Development drive reported solid geotechnical competency and multiple high-grade Judd 1 Vein faces from channel sampling, including: • 2.2m thickness at 18.7 g/t AuEq or 17.4 g/t Au, 0.65% Cu and 26 g/t Ag; • 3.5m thickness at 9.8 g/t AuEq or 3.7 g/t Au, 3.73% Cu and 42 g/t Ag; • 3.7m thickness at 9.5 g/t AuEq or 7.4 g/t Au, 1.28% Cu and 17 g/t Ag, and; • 4.2m thickness at 8.7 g/t AuEq or 6.0 g/t Au, 1.46% Cu and 37 g/t Ag. * Mineralization style from development drive is intrusive related, gold-copper-silver, and similar to Kora.   * Diamond drill rig mobilized to commence underground Phase 1 Judd Vein System drill program, targeting strike and vertical extensions.VANCOUVER, British Columbia, Sept. 03, 2020 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce preliminary underground bulk sample results from the Judd Vein System at the Kainantu Gold Mine in Papua New Guinea. The Judd Vein System is located near-mine infrastructure, ~100-150m North-East from the producing Kora deposit and consists of four known veins, with the bulk sample from Judd 1 Vein. The Judd Vein System has seen very limited exploration, has four known veins and has a target strike length of approximately 2.5 km sub-parallel to Kora. Historical drilling results from previous owners include 3m at 278.2 g/t Au and 0.21% Cu, 9m at 8.32 g/t Au and 1.11% Cu (core length), and K92 intersected Judd in a surface drill hole targeting Kora, ~500m to the South of those historical holes 4.7m at 4.98 g/t Au, 0.02% Cu and 17 g/t Ag (5.22 g/t AuEq, 4.2m true thickness) – see September 9, 2019 press release K92 Mining Announces Latest High-Grade Drill Results from Kora. The results mark the first significant exploration activity undertaken on Judd by K92.See Figure 1 for location map of Judd Vein target and other proximal interpreted vein targets.The bulk sample was completed on the 1235 mRL level as multi-purpose, mine infrastructure development drive with oversized ventilation return airway dimensions of 5.5m x 5.5m. Approximately 109 metres of development was completed and from grade control channel sampling, an estimated 6,200 tonnes at 5.5 g/t gold equivalent or 3.6g/t gold, 1.11% copper and 19 g/t silver with an average thickness of 3.4 metres was extracted from Judd 1 Vein. Incorporating excess dilution from the oversized 5.5m x 5.5m return airway drive, an estimated 10,130 tonnes at 3.6 g/t AuEq or 2.40 g/t Au, 0.70% Cu and 12 g/t Ag was extracted.A majority of the bulk sample has been stockpiled, with earlier mined material processed through the Kainantu processing plant. The remaining bulk sample and additional material mined will be processed separately through the Kainantu plant once the Stage 2 Process Plant Expansion commissioning is completed. Ground conditions are competent and are expected to be amenable to mining widths similar to the average Judd 1 Vein thickness and those currently mined at Kora, which is a minimum of 2 metres wide for long hole stoping and minimum 3 metres wide for cut and fill.See Figure 2 for a plan view of the underground channel sampling and Judd 1 Vein interpretation.As a result of the promising results to date, an underground diamond drill rig has been mobilized for a Phase 1 Judd Vein system drilling program. The initial drill program planned is a 33-hole program, targeting strike extensions from the development drive of approximately 250 metres in addition to up-dip and down-dip step-out drilling. The bulk sample development drive will also be extended.See Figure 3 for a plan view of the Phase 1 Judd Vein System drill program.(Gold Equivalent (AuEq) is calculated using copper price of US$3.05/lb, silver price of US$16.05/oz and gold price of US$1,400/oz.)John Lewins, K92 Chief Executive Officer and Director, stated, “We are certainly excited by these initial results from the bulk sampling of the Judd 1 Vein. The results mark the first significant exploration program on the Judd target by K92. With a potential strike length of ~2.5km, a known vertical extent of over 700 metres that remains open at depth, similar gold-copper-silver mineralization to Kora and encouraging grades, we are very encouraged about its potential. As a result, we have mobilized a drill rig to commence the Phase 1 Judd Exploration program and will continue to extend the development drive.Exploration activities are also significantly increasing property wide. An additional drill rig has arrived on site this past week, increasing our total to eight, and we expect to have nine rigs on site by the end of the third quarter and ten by the end of the year. The additional drill rigs have meaningfully increased our rate of exploration and capacity to drill multiple targets concurrently. By the end of the year, we expect to have drills operating on Kora, Kora South, Judd, Karempe and Blue Lake. Approximately ~20% of the known vein field strike has been drill tested and Kora remains open at depth.”Qualified PersonK92 mine geology manager and mine exploration manager, Andrew Kohler, PGeo, a qualified person under the meaning of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and is responsible for the technical content of this news release. About K92K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora deposit at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine.  The Company declared commercial production from Kainantu in February 2018 and is in a strong financial position.The Company commenced an expansion of the mine based on an updated Preliminary Economic Assessment on the property which was published in January 2019 and updated in July 2020. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.On Behalf of the Company,John Lewins, Chief Executive Officer and DirectorFor further information, please contact David Medilek, P.Eng., CFA at +1-604-687-7130.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the realization of the preliminary economic analysis for the Kainantu Project, expectations of future cash flows, the planned plant expansion, production results, cost of sales, sales of production, potential expansion of resources and the generation of further drilling results which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company’s securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations in PNG, mitigation of the Covid-19 pandemic, continuation of the lifted state of emergency, and regulations and other matters. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.Figure 1 – Location of Near-Mine Vein Targets is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/11f2dfdc-e3e0-4a07-884b-7de8f8baa695Figure 2 – Judd 1 Vein Plan View Channel Samples is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/452ff5f5-8619-49c7-a700-e41578df8bfcFigure 3 – Plan View of Phase 1 Judd Exploration Drilling Plan is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c3c835c-fb7f-4d2b-b38f-c7127296a6b1

  • K92 Mining Announces Latest High-Grade Drill Results at Kora, Including First Hole From Most Southerly Drill Cuddy
    GlobeNewswire

    K92 Mining Announces Latest High-Grade Drill Results at Kora, Including First Hole From Most Southerly Drill Cuddy

    Figure 1 K1 Vein Long Section Figure 2 K2 Vein Long Section Figure 3 Kora-Irumafimpa Mine Section * Drill Hole KMDD0230 records multiple intersections including 6.21 m at 48.11 g/t Au, 13 g/t Ag and 1.05% Cu (49.82 g/t AuEq, 5.06 m true width) at the K1 Vein. In combination with K1, Kora Link and K2, records a bulk intersection of 23.66 m at 13.61 g/t Au, 13 g/t Ag and 0.84% Cu (15.02 g/t AuEq, 19.15 m true width).   * Drill Hole KMDD0227 records multiple intersections including 4.32 m at 133.40 g/t Au, 4 g/t Ag and 0.25% Cu (133.82 g/t AuEq, 4.21 m true width) at the K1 Vein.   * Drill Hole KMDD0225 records multiple intersections including 9.00 m at 4.41 g/t Au, 39 g/t Ag and 3.59% Cu (10.21 g/t AuEq, 4.57 m true width) at the K2 Vein from most southerly drill cuddy.   * Drill Hole KMDD0238 records multiple intersections including 4.20 m at 13.22 g/t Au, 6 g/t Ag and 0.20% Cu (13.59 g/t AuEq, 3.02 m true width) at the K1 Vein.   * Drill Hole KMDD0234 records multiple intersections including 10.00 m at 10.11 g/t Au, 10 g/t Ag and 0.28% Cu (10.64 g/t AuEq, 7.95 m true width) at the K2 Vein.VANCOUVER, British Columbia, Aug. 27, 2020 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce results from the ongoing diamond drilling of the Kora deposit at the Kainantu gold mine in Papua New Guinea.The results for the latest 12 diamond drill holes completed from surface and underground into the Kora deposit are summarized in Table 1 below. The results continue to demonstrate the high-grade and continuity of Kora with intersections largely focused on increasing drill density towards the South. All drill holes intersected mineralization.The drill results once again intersected a potentially bulk mineable zone. Drill Hole KMDD0230 recorded multiple intersections including 6.21 m at 48.11 g/t Au, 13 g/t Ag and 1.05% Cu (49.82 g/t AuEq, 5.06 m true width) at the K1 Vein. When combining the K1, Kora Link and K2 Veins, KMDD0230 recorded a bulk intersection of 23.66 m at 13.61 g/t Au, 13 g/t Ag and 0.84% Cu (15.02 g/t AuEq, 19.15 m true width).Towards the South, multiple high-grade intersections were also recorded. Following the commissioning of the most southerly underground drill cuddy, the first hole from DDC14, KMDD0225 recorded multiple intersections including 9.00 m at 4.41 g/t Au, 39 g/t Ag and 3.59% Cu (10.21 g/t AuEq, 4.57 m true width) at the K2 Vein.Other high-grade intersection highlights were KMDD0227, KMDD0238 and KMDD0234. KMDD0227 recorded multiple intersections including 4.32 m at 133.40 g/t Au, 4 g/t Ag and 0.25% Cu (133.82 g/t AuEq, 4.21 m true width) at the K1 Vein. KMDD0238 recorded multiple intersections including 4.20 m at 13.22 g/t Au, 6 g/t Ag and 0.20% Cu (13.59 g/t AuEq, 3.02 m true width) at the K1 Vein. KMDD0234 recorded multiple intersections including 10.00 m at 10.11 g/t Au, 10 g/t Ag and 0.28% Cu (10.64 g/t AuEq, 7.95 m true width) at the K2 Vein.Long sections of K1 and K2 showing the location of the latest drill holes are provided in Figures 1 and 2, respectively.  Long section showing Kora drilling to date is provided in Figure 3.(Gold Equivalent (AuEq) is calculated using copper price of US$3.05/lb, silver price of US$16.05/oz and gold price of US$1,400/oz.)John Lewins, K92 Chief Executive Officer and Director, stated, “We continue to be very pleased with the high-grade pedigree and continuity from the drilling results at Kora. All twelve holes intersected mineralization with five intersections exceeding +10g/t AuEq and fifteen intersections exceeding +5g/t AuEq. Highlights from the drilling results included: 6.21 m at 48.11 g/t Au, 13 g/t Ag and 1.05% Cu (49.82 g/t AuEq, 5.06 m true width) and 4.32 m at 133.40 g/t Au, 4 g/t Ag and 0.25% Cu (133.82 g/t AuEq, 4.21 m true width), both from the K1 Vein. Once again, a bulk mineable intersection was also reported of 23.66 m at 13.61 g/t Au, 13 g/t Ag and 0.84% Cu (15.02 g/t AuEq, 19.15 m true width) when combining the K1, K Link and K2 veins. To date, multiple bulk mineable areas have been identified and studies to assess the optimal extraction approach will be part of the Stage 3 Expansion Definitive Feasibility Study.As we advance exploration at Kora through the remainder of 2020 and into 2021, we are especially excited about the progress made advancing underground infrastructure to drill test the southern strike extension. Our most southern drill cuddy DDC14 was completed in July, and we received the results from our first hole drilled with KMDD0225 reporting 9.00 m at 4.41 g/t Au, 39 g/t Ag and 3.59% Cu (10.21 g/t AuEq, 4.57 m true width) in the K2 Vein. Development continues to advance to the south and our plan is to have our next drill cuddy established to test beyond the mining lease, into Kora South in Q4.Lastly, we highlight that exploration activities are increasing significantly. Our two new, multi-powered surface drill rigs are expected to arrive on site imminently, increasing the number of drill rigs to nine. By the end of this year we will plan to have ten drill rigs operating and self-funded from mine cash flow. This is enabling the testing of multiple targets concurrently and we plan to provide updates near-term.” Table 1 - Kainantu Gold Mine – Significant Intercepts from Diamond DrillingHole_idFrom (m)To (m)Interval (m)True width (m)Gold g/tSilver g/tCopper %Gold equivalentLode KMDD021961.0 61.6 0.55 0.49 6.38 8 0.37 7.02 K1 KMDD021973.1 81.6 8.50 7.32 3.19 11 0.93 4.71 K2 including73.1 73.6 0.50 0.43 3.31 9 0.90 4.76   including73.6 74.0 0.40 0.34 2.39 4 0.32 2.91   including74.0 74.5 0.50 0.43 9.05 5 0.18 9.37   including74.5 75.5 1.00 0.86 0.98 3 0.15 1.24   including75.5 76.4 0.90 0.78 0.54 7 0.63 1.57   including76.4 76.7 0.25 0.22 3.65 106 6.32 14.31   including76.7 77.0 0.38 0.33 33.20 61 5.77 42.52   including77.0 78.0 0.97 0.84 1.71 11 0.67 2.83   including78.0 78.4 0.43 0.37 0.21 6 0.32 0.75   including78.4 80.0 1.57 1.35 0.13 3 0.06 0.26   including80.0 81.0 0.95 0.82 0.02 2 0.13 0.24   including81.0 81.6 0.65 0.56 4.67 8 2.66 8.74   KMDD021988.7 90.5 1.80 1.55 1.62 26 0.99 3.40 K2HW KMDD021988.7 89.5 0.80 0.69 2.33 44 1.17 4.58   KMDD021989.5 90.5 1.00 0.86 1.05 12 0.86 2.47   KMDD023060.8 67.0 6.21 5.06 48.11 13 1.05 49.82 K1 including60.8 62.0 1.21 0.99 1.17 8 1.01 2.77   including62.0 63.2 1.15 0.94 0.40 5 0.41 1.07   including63.2 63.6 0.45 0.37 7.76 4 0.30 8.25   including63.6 65.0 1.40 1.14 1.74 9 0.93 3.23   including65.0 65.5 0.50 0.41 198.60 41 2.92 203.43   including65.5 66.1 0.60 0.49 315.55 45 2.83 320.29   including66.1 67.0 0.90 0.73 2.60 4 0.24 3.01   KMDD023069.6 72.5 2.90 2.36 0.53 5 0.48 1.30 KL including69.6 70.5 0.85 0.69 1.17 6 0.56 2.08   including70.5 71.0 0.55 0.45 0.28 3 0.13 0.50   including71.0 72.0 1.00 0.82 0.06 2 0.17 0.34   including72.0 72.5 0.50 0.41 0.64 11 1.33 2.75   KMDD023075.3 84.5 9.15 7.30 2.36 24 1.31 4.60 K2 including75.3 76.3 1.00 0.80 6.52 17 2.79 10.88   including76.3 77.0 0.70 0.56 2.00 13 1.03 3.69   including77.0 78.0 1.00 0.80 0.89 12 0.83 2.26   including78.0 79.0 1.00 0.80 0.14 16 0.84 1.58   including79.0 79.7 0.70 0.56 0.33 14 0.40 1.09   including79.7 80.4 0.70 0.56 0.30 16 0.47 1.18   including80.4 81.4 1.00 0.80 7.33 45 2.36 11.37   including81.4 82.4 1.00 0.80 1.44 15 0.83 2.85   including82.4 83.5 1.10 0.88 0.87 26 0.97 2.61   including83.5 84.5 0.95 0.76 2.64 60 2.09 6.45   KMDD023096.8 99.1 2.30 1.83 2.45 114 1.89 6.58 K2HW including96.8 97.3 0.45 0.36 7.05 346 5.86 19.77   including97.3 97.6 0.35 0.28 1.54 23 0.23 2.15   including97.6 99.1 1.50 1.20 1.28 66 1.09 3.66   KMDD022387.0 93.0 6.00 4.15 0.85 3 0.32 1.37 K1 including87.0 89.0 2.00 1.38 0.72 4 0.52 1.54   including89.0 91.4 2.35 1.63 0.63 3 0.17 0.91   including91.4 92.0 0.65 0.45 0.13 2 0.16 0.40   including92.0 93.0 1.00 0.69 2.07 2 0.41 2.71   KMDD022396.5 101.7 5.20 3.47 1.24 11 1.23 3.20 K2 including96.5 96.9 0.40 0.27 0.83 1 0.32 1.32   including96.9 98.8 1.90 1.27 0.04 1 0.21 0.37   including98.8 100.3 1.50 1.00 1.01 2 0.48 1.74   including100.3 101.7 1.40 0.93 3.22 36 3.69 9.15   KMDD0232109.1 113.1 4.00 2.13 2.61 10 0.51 3.49 K1 including109.1 109.7 0.60 0.32 0.67 1 0.37 1.24   including109.7 110.6 0.90 0.48 5.09 31 0.29 5.89   including110.6 111.1 0.50 0.27 0.80 11 1.51 3.17   including111.1 112.0 0.90 0.48 2.62 4 0.61 3.58   including112.0 112.4 0.37 0.20 0.44 2 0.11 0.63   including112.4 113.1 0.73 0.39 3.48 4 0.29 3.95   KMDD0232115.0 120.3 5.30 2.76 0.99 7 0.32 1.55 K2 including115.0 115.5 0.50 0.26 0.87 4 0.46 1.60   including115.5 116.2 0.65 0.34 3.20 5 1.23 5.09   including116.2 117.0 0.85 0.44 0.12 1 0.18 0.39   including117.0 118.0 1.00 0.52 0.48 1 0.05 0.56   including118.0 118.9 0.90 0.47 0.38 2 0.02 0.43   including118.9 120.3 1.40 0.73 1.31 21 0.32 2.03   KMDD022534.3 35.3 0.96 0.43 0.69 30 4.91 8.37   including34.3 34.6 0.27 0.12 0.56 2 0.12 0.76   including34.6 35.0 0.44 0.20 0.71 64 10.61 17.29   including35.0 35.3 0.25 0.11 0.81 2 0.04 0.89   KMDD0225119.9 123.2 3.27 1.46 0.31 4 0.35 0.88 K1 including119.9 120.5 0.62 0.28 1.09 10 1.22 3.03   including120.5 122.2 1.74 0.78 0.08 1 0.01 0.11   including122.2 123.2 0.91 0.41 0.21 7 0.40 0.88   KMDD0225156.0 165.0 9.00 4.57 4.41 39 3.59 10.21 K2 including156.0 158.8 2.80 1.42 1.05 4 0.28 1.52   including158.8 161.2 2.40 1.22 1.20 13 1.53 3.63   including161.2 162.6 1.35 0.69 7.60 33 5.21 15.76   including162.6 163.9 1.31 0.66 17.65 171 9.05 33.13   including163.9 164.5 0.67 0.34 0.41 13 4.50 7.28   including164.5 165.0 0.47 0.24 0.45 61 12.62 20.00   KMDD0225170.0 172.0 2.00 1.02 1.35 9 1.17 3.19   KMDD0225177.8 181.2 3.40 1.73 2.18 210 0.60 5.49 K2HW including177.8 178.5 0.70 0.36 0.40 12 0.62 1.47   including178.5 180.2 1.70 0.86 0.35 10 0.41 1.08   including180.2 181.2 1.00 0.51 6.54 690 0.90 15.80   KMDD0225190.0 190.6 0.58 0.29 0.46 14 3.13 5.30   KMDD0221202.7 221.8 19.15 8.84 1.73 3 0.11 1.93 K1 including202.7 203.5 0.80 0.37 2.35 2 0.03 2.42   including203.5 204.0 0.55 0.25 5.18 1 0.03 5.23   including204.0 204.7 0.70 0.32 0.85 1 0.01 0.88   including204.7 205.8 1.10 0.51 2.88 4 0.01 2.94   including205.8 206.4 0.60 0.28 0.24 1 0.01 0.26   including206.4 206.9 0.50 0.23 0.52 1 0.05 0.59   including206.9 208.0 1.10 0.51 0.20 1 0.05 0.28   including208.0 209.0 1.00 0.46 0.22 2 0.09 0.37   including209.0 209.9 0.85 0.39 19.65 5 0.14 19.92   including209.9 210.4 0.55 0.25 1.88 4 0.16 2.16   including210.4 211.0 0.60 0.28 0.31 2 0.12 0.51   including211.0 212.0 1.00 0.46 0.20 1 0.02 0.24   including212.0 212.7 0.65 0.30 0.28 1 0.02 0.33   including212.7 214.0 1.35 0.62 0.61 1 0.01 0.63   including214.0 215.1 1.05 0.48 0.12 1 0.02 0.16   including215.1 216.0 0.95 0.44 0.14 4 0.12 0.36   including216.0 217.0 1.00 0.46 1.08 10 0.17 1.44   including217.0 218.0 1.00 0.46 0.76 7 0.25 1.21   including218.0 219.0 1.00 0.46 0.26 1 0.07 0.37   including219.0 219.6 0.60 0.28 0.84 22 0.43 1.73   including219.6 220.7 1.10 0.51 0.59 3 0.26 1.01   including220.7 221.6 0.90 0.42 0.49 7 0.37 1.12   including221.6 221.8 0.20 0.09 3.32 5 0.34 3.89   KMDD0221439.0 440.0 1.00 0.56 0.81 1 0.01 0.83 K2 including439.0 440.0 1.00 0.56 0.81 1 0.01 0.83   KMDD023486.0 96.0 10.00 7.95 10.11 10 0.28 10.64 K2 including86.0 87.0 0.95 0.75 1.07 9 1.10 2.82   including87.0 88.1 1.19 0.95 6.35 6 0.25 6.79   including88.1 89.2 1.06 0.84 0.57 40 0.03 1.07   including89.2 90.0 0.80 0.64 41.59 3 0.17 41.88   including90.0 91.0 1.00 0.79 45.17 11 0.17 45.55   including91.0 92.0 1.00 0.79 5.21 4 0.06 5.35   including92.0 92.7 0.70 0.56 3.40 4 0.06 3.54   including92.7 93.7 0.95 0.75 3.89 6 0.06 4.05   including93.7 94.4 0.72 0.57 0.56 6 0.63 1.57   including94.4 95.0 0.63 0.50 0.39 4 0.09 0.57   including95.0 96.0 1.00 0.79 1.54 7 0.44 2.27   KMDD0234116.0 119.4 3.40 2.70 0.48 11 0.35 1.12 K2HW including116.0 116.9 0.86 0.68 0.12 7 0.30 0.65   including116.9 118.0 1.14 0.91 1.06 11 0.73 2.27   including118.0 119.4 1.40 1.11 0.23 13 0.07 0.48   KMDD023683.6 85.2 1.60 1.04 1.93 5 0.40 2.58   including83.6 83.9 0.30 0.19 1.76 2 0.06 1.88   including83.9 84.5 0.60 0.39 2.40 7 0.74 3.58   including84.5 85.2 0.70 0.45 1.60 4 0.26 2.03   KMDD023687.9 95.2 7.35 4.76 2.68 4 0.12 2.90 K1 including87.9 88.1 0.29 0.19 8.26 6 0.30 8.77   including88.1 89.0 0.86 0.56 0.04 5 0.13 0.30   including89.0 90.0 1.00 0.65 0.08 2 0.10 0.25   including90.0 91.0 0.95 0.62 0.05 3 0.18 0.35   including91.0 91.9 0.95 0.62 0.66 4 0.15 0.93   including91.9 92.3 0.40 0.26 0.02 5 0.11 0.24   including92.3 92.7 0.35 0.23 27.78 3 0.10 27.97   including92.7 93.0 0.35 0.23 0.38 4 0.12 0.60   including93.0 94.0 1.00 0.65 2.51 7 0.10 2.74   including94.0 95.2 1.20 0.78 3.48 1 0.01 3.51   KMDD023698.2 101.0 2.80 2.05 0.49 4 0.26 0.91 K2 including98.2 99.4 1.20 0.88 0.55 4 0.22 0.92   including99.4 100.0 0.60 0.44 0.49 2 0.06 0.60   including100.0 101.0 1.00 0.73 0.41 4 0.43 1.10   KMDD023891.1 95.3 4.20 3.02 13.22 6 0.20 13.59 K1 including91.1 92.0 0.90 0.65 8.01 17 0.42 8.84   including92.0 93.1 1.10 0.79 5.34 5 0.20 5.70   including93.1 94.0 0.90 0.65 4.64 2 0.05 4.74   including94.0 95.3 1.30 0.93 29.43 3 0.15 29.69   KMDD023898.8 102.9 4.10 2.74 3.74 29 1.84 6.83 K2 including98.8 100.0 1.20 0.80 1.70 35 1.53 4.38   including100.0 101.0 1.00 0.67 0.77 9 0.25 1.25   including101.0 102.0 1.00 0.67 10.27 46 4.53 17.56   including102.0 102.9 0.90 0.60 2.51 25 1.06 4.38   KMDD0238119.2 123.0 3.80 2.54 3.34 22 1.18 5.36 K2HW including119.2 120.6 1.40 0.93 7.86 13 0.20 8.30   including120.6 121.0 0.40 0.27 1.11 57 5.64 10.19   including121.0 122.0 1.00 0.67 0.85 24 1.33 3.11   including122.0 123.0 1.00 0.67 0.40 20 0.62 1.55   KMDD022777.7 82.0 4.32 4.21 133.40 4 0.25 133.82 K1 including77.7 79.3 1.65 1.61 347.93 8 0.47 348.72   including79.3 81.0 1.67 1.63 1.00 1 0.04 1.06   including81.0 82.0 1.00 0.98 0.52 4 0.24 0.92   KMDD0227127.9 130.5 2.63 2.57 0.34 5 0.52 1.17 K2 including127.9 128.3 0.39 0.38 1.40 16 2.08 4.69   including128.3 128.9 0.63 0.61 0.19 1 0.02 0.22   including128.9 129.7 0.81 0.79 0.09 1 0.02 0.12   including129.7 130.5 0.80 0.78 0.19 7 0.66 1.26   KMDD0211202.0 203.0 1.00 0.50 3.36 1 0.00 3.37 K1 including202.0 203.0 1.00 0.50 3.36 1 0.00 3.37   KMDD024060.9 63.4 2.50 2.29 5.83 5 0.70 6.94   including60.9 62.0 1.10 1.01 10.40 5 0.24 10.81   including62.0 62.2 0.20 0.18 9.53 7 1.01 11.12   including62.2 63.0 0.80 0.73 0.42 3 0.25 0.83   including63.0 63.4 0.40 0.37 2.23 8 2.72 6.39   KMDD024076.0 80.5 4.50 3.85 6.80 11 1.78 9.58 K1 including76.0 76.5 0.50 0.43 0.93 4 0.20 1.27   including76.5 77.2 0.70 0.60 22.90 7 0.59 23.87   including77.2 78.0 0.80 0.68 4.05 1 0.09 4.20   including78.0 79.1 1.10 0.94 5.01 3 0.16 5.28   including79.1 79.5 0.35 0.30 1.21 12 2.18 4.60   including79.5 80.0 0.55 0.47 0.08 5 0.28 0.56   including80.0 80.5 0.50 0.43 9.74 61 12.68 29.38   KMDD024082.0 89.0 7.00 5.94 3.97 38 0.98 5.86 K2 including82.0 83.0 1.00 0.85 15.30 86 1.03 17.82   including83.0 84.0 1.00 0.85 3.06 58 0.71 4.78   including84.0 85.0 1.00 0.85 0.45 27 1.32 2.73   including85.0 85.8 0.80 0.68 10.00 63 0.81 11.93   (1) Gold Equivalent in Table 1 uses copper price of US$3.05/lb; silver price of US$16.05/oz and gold price of US$1,400/oz.Table 2 - Kainantu Gold Mine – Collar Locations for Kora Diamond DrillingHole_idCollar locationCollar orientationEOH depth (m)Lode Local northLocal EastRLDipLocal azimuth KMDD021958692298561213-17.6289.3110.7Kora North KMDD02305876629868125323.7240.8118.9Kora North KMDD02235869129856121424.1230.1101.7Kora North KMDD02325877129872125437.8333.9194.0Kora North KMDD02255853429852121835.6213.9204.6Kora North KMDD022158997299231162-58.6328.2581.3Kora North KMDD02345877129872125316.5326.0131.1Kora North KMDD02365877129872125327.2326.9131.6Kora North KMDD02385877129872125436.1326.2139.7Kora North KMDD02405877129871125319.3316.1107.5Kora North KMDD022758994299211164-13.0268.8146.5Kora North KMDD021158689298571212-51.6217.9268.3Kora North Table 3 – Global Kora Mineral Resource (Effective Date April 2, 2020) TonnesGoldSilverCopperAuEq  mtg/tmozg/tmoz%ktg/tmoz Measured0.6613.340.2811.60.250.513.414.140.3 Indicated2.478.440.6716.31.290.6315.69.460.8 Total M&I3.139.470.9515.31.540.611910.451.1 Inferred12.677.322.9819.98.111.1139.49.013.7 * Mineral Resource Estimate is included in a technical report titled, “Independent Technical Report, Mineral Resource Estimate Update and Preliminary Economic Assessment for Expansion of the Kainantu Mine to Treat 1 Mtpa from the Kora Gold Deposit, Kainantu Project, Papua New Guinea” with an effective date of April 2, 2020. * The Independent and Qualified Person responsible for the Mineral Resource Estimate is Simon Tear, P.Geo. of H & S Consultants Pty. Ltd., Sydney, Australia. * Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. * Resources were compiled at 1,2,3,4,5,6,7,8,9 and 10 g/t gold cut-off grades. * Density (t/m3) is on a per zone basis, K1 and Kora Link: 2.84 t/m3; K2: 2.93 t/m3; Waste: 2.8 t/m3 * Reported tonnage and grade figures are rounded from raw estimates to reflect the order of accuracy of the estimate. * Minor variations may occur during the addition of rounded numbers. * Calculations used metric units (metres, tonnes and g/t) * Gold equivalents are calculated as AuEq = Au g/t + ((0.923 x Cu%)*1.38)+ ((0.77 x Ag g/t*0.0115). Gold price US$1,400/oz; Silver US$16.05/oz; Copper US$3.05/lb. Metal payabilities and recoveries are incorporated into the AuEq formula. Recoveries of 92.3% for copper and 77% for silver.Key Assumptions and Parameters – Kora DepositThe Kora Deposit comprises of two parallel, steeply west dipping, north-south striking quartz-sulphide vein systems, K1 and K2, within an encompassing dilatant structural zone hosted by phyllite. An additional structure, the Kora Link, has also been defined between K1 and K2. There are five Kora Link structures identified, of which three are included in the updated resource estimate.The current resource estimate area covers an area of approximately 1,250 metres along strike by 1,050 to 1,150 metres vertically (see Fig 1), representing ~75% of the drill target area. K92 plans to continue to drill the area not yet drilled. The updated resource estimate includes results from 266 diamond drill holes in addition to face samples taken from horizontal development and from cut and fill faces along the K1 and K2 veins.Underground drilling consists of diamond core for a range of core sizes depending on the length of hole and expected ground conditions. Sampling is sawn half core under geological control and generally ranges between 0.5m to 1.0m. Underground face sampling is completed for every fired round and is to industry standard. QAQC data indicated no significant issues with the sampling or the accuracy of the on-site analysis. Current core recovery of the mineral zone is +95%, with initial drilling around the 90% mark.Geological logging is consistent and is based on a full set of logging codes covering lithology, alteration, and mineralization.The geological interpretation of the vein systems is represented as 3D wireframe solids snapped to a combination of diamond drillhole data and underground face sampling (see Fig 1). Definition of the wireframes is based on identified gold mineralization in drill core nominally at a 0.1-0.2g/t Au gold-off in conjunction with geological control/sense and current mining widths.The wireframes were used to extract 1-metre composites (minimum of 0.5m) from the drillhole & sampling database for gold, copper and silver. A gold top cut of 1000g/t was applied to K2 composites and a 150g/t top cut for the Kora Link 2. No top cuts were applied to silver or copper. Variography was generally poor, as would likely be expected, although K1 indicated better along strike grade continuity.Grade interpolation of the composite data was completed using Ordinary Kriging with a block size of 1m by 5m by 5m. A larger block size check model indicated no evidence of over-smoothing of gold grade with the smaller block size.Default average density values have been applied to the different lodes. The defaults are based on limited core measurements using the Archimedes Method (weight in air/weight in water). Density (t/m3) is on a per zone basis, with K1 and Kora Link: 2.84 t/m3; K2: 2.93 t/m3; Waste: 2.8 t/m3A three-pass search strategy was applied to the grade interpolation. Search ellipse parameters are listed below. Search ellipse orientations generally reflected the subtle changes in dip and strike of the vein systems, with up to 8 search domains used for each lode.Qualified PersonK92 mine geology manager and mine exploration manager, Andrew Kohler, PGeo, a qualified person under the meaning of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and is responsible for the technical content of this news release. About K92K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora deposit at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine.  The Company declared commercial production from Kainantu in February 2018 and is in a strong financial position.The Company commenced an expansion of the mine based on an updated Preliminary Economic Assessment on the property which was published in January 2019 and updated in July 2020. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.On Behalf of the Company,John Lewins, Chief Executive Officer and DirectorFor further information, please contact David Medilek, P.Eng., CFA at +1-604-687-7130.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the realization of the preliminary economic analysis for the Kainantu Project, expectations of future cash flows, the planned plant expansion, production results, cost of sales, sales of production, potential expansion of resources and the generation of further drilling results which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company’s securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations in PNG, mitigation of the Covid-19 pandemic, continuation of the lifted state of emergency, and regulations and other matters. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.Figure 1 - K1 Vein Long Section is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/09f9b7da-d87d-4992-bc52-f1a9b7fe350aFigure 2 – K2 Vein Long Section is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2702e065-725c-41ac-889f-390a6f37d52bFigure 3 – Kora-Irumafimpa Mine Section is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d82c7100-57da-4df3-9130-318a1498f127

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