K92 Achieves Commercial Production at Kainantu Gold Mine

Suite 488 – 1090 West Georgia Street

Vancouver, British Columbia

Canada V6E 3V7

Telephone: (604) 687-7130

Facsimile: (604) 608-9110

NEWS RELEASE

February 7, 2018 Vancouver, British Columbia

K92 MINING INC.

K92 Achieves Commercial Production at Kainantu Gold Mine

K92 Mining Inc. (“K92”) (TSX-V: KNT) (OTCQB: KNTNF) is pleased to announce it has

achieved and declares commercial production effective February 1, 2018 at its Kainantu Gold

Mine in Papua New Guinea.

Production for the month of January 2018 exceeded 2,700 ozs gol d equivalent (2,500 ozs gold).

At this level of production, based on the budgeted monthly operating costs, Total Cash Costs1 for

the month of January are expected to be below US$850/oz gold equivalent.

K92 defined commercial production as having commenced stope pro duction underground,

achieving a minimum of 60% of designed gold production and a mi nimum of 90% of designed

metal recovery from the process plant over a 30 day period. The se metrics were met during the

month of January and the company expects them to be maintained going forward and has therefore

declared commercial production effective February 1, 2018.

Production levels from Kora North are anticipated to continue building up over the coming months

from development and tonnage fro m the cut and fill stopes, with design levels expected to be

achieved during in the June 2018 Quarter, when the first long hole stope production commences.

John Lewins, K92 Chief Executive Officer and Director, states, “We are extremely pleased to have

reached this very significant milestone of comme rcial production. That we have achieved this

mining the Kora North Lode, eight months after drilling the first discovery hole and just four

months after commencing grade control drilling and th e treatment of the init ial bulk sample is a

testament to the professionalism, enthusiasm and ability of th e entire team at our Kainantu

operation.”.

K92 has not based its production decisions on ongoing mine prod uction or mineral reserve

estimates or feasibility studies, and historically such projects have increased uncertainty and risk

of failure. Mineral resources that are not mineral reserves do not have demonstrated economic

viability.

(1) “Total Cash Costs” per ounce is a non-GAAP financial measure wh ich is calculated in

accordance with a standard developed by The Gold Institute, a w orldwide association of

suppliers of gold and gold produc ts that ceased operations in 2 002. Adoption of the

standard is voluntary and the co st measures presented may not b e comparable to other

similarly titled measures of other companies. K92 believes tha t certain investors would

use this information to evaluate K92’s performance and ability to generate liquidity

through operating cash flow to fund future capital expenditures and working capital needs.

Total cash costs include mine site operation costs such as mini ng, processing and

administration costs, royalties, and selling costs but are excl usive of amortization,

reclamation, capital and exploration costs. Total cash costs are then dividend by ounces of

gold equivalent produced. This data is furnished to provide ad ditional information and is

a non-GAAP financial measure. Total cash costs presented do no t have a standardized

meaning under IFRS and may not be comparable to similar measure s presented by other

mining companies. It should not be considered in isolation or as a substitute for measures

of performance prepared in accordance with IFRS and is not necessarily indicative of cash

flow from operations under IFRS or operating costs presented under GAAP.

On behalf of the company,

John Lewins

Chief Executive Officer and Director

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: Thi s

news release includes certain “forward-looking statements” under applicable Canadian securities

legislation. Forward-looking stat ements are necessarily based u pon a number of estimates and

assumptions that, while consider ed reasonable, are subject to k nown and unknown risks,

uncertainties, and other factors which may cause the actual res ults and future events to differ

materially from those expressed or implied by such forward-look ing 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 Project, expectations of future cash flows,

the proposed plant expansion, pote ntial expansion of resources and the generation of further

drilling results which may or may not occur. Forward-looking st atements and information

contained herein are based on certain factors and assumptions r egarding, among other things, the

market price of the Company’s securities, metal prices, exchang e rates, taxation, the estimation,

timing and amount of future exploration and development, capita l and operating costs, the

availability of financing, the r eceipt 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 mi ning industry, changes in national

and local government regulation of mining operations, and regul ations and other matters.. There

can be no assurance that such statements will prove to be accur ate, as actual results and future

events could differ materially from those anticipated in such s tatements. Accordingly, readers

should not place undue r eliance 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.