K92 Defines First Mining Production Blocks in Kora North Highlights include:

Suite 488 – 1090 West Georgia Street

Vancouver, British Columbia

Canada V6E 3V7

Telephone: (604) 687-7130

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NEWS RELEASE

December 4, 2017 Vancouver, British Columbia

K92 MINING INC.

K92 Defines First Mining Production Blocks in Kora North

Highlights include:

• Initial mining blocks in Kora North containing 124,200 tonnes @ 7.17 g/t Au, 19 g/t

Ag and 1.06% Cu defined in an area 150 metres long by 75 metres high

• The initial resource supporting the Kora North mining blocks comprises a Measured

Resource of 45,000 tonnes @ 9.92 g/t Au, 27 g/t Ag and 1.94% Cu and an Indicated

Resource of 41,500 tonnes @ 9.57 g/t Au, 26 g/t Ag and 0.91% Cu.

K92 (TSXV - KNT) is pleased to announce that an initial resource has been defined in Kora North

based on results from grade control drilling and face sampling. The initial resource which covers

an area 150 metres along strike by 75 metres high comprises a M easured Resource of 45,000

tonnes @ 9.92 g/t Au, 27 g/t Ag and 1.94% Cu and an Indicated R esource of 41,500 tonnes @

9.57 g/t Au, 26 g/t Ag and 0.91% Cu. See Table 1 below.

The mining blocks have been defined by applying a minimum minin g width of 2.5 metres and

mining dilution of 0.5 metres to the above Measured and Indicat ed Mineral Resource in an area

150 metres along strike between the 1160 mRL and 1235 mRL level s (75 metres vertical extent).

The mining blocks contain a total 124,200 tonnes @ 7.17 g/t Au, 19 g/t Ag and 1.06% Cu. See

Table 2 below. This tonnage excludes approximately 8,000 tonnes which were mined as a bulk

sample from the initial 4 metre x 4 metre drive on the 1185 mRL level. It is planned that the

material defined in these mining blocks will be mined over the next nine months.

The initial Mineral Resource and mining blocks defined based on the resource cover approximately

half of the 150 metre by 150 metre area which is being drilled on a 25 metre by 25 metre grade

control pattern from the first drill cuddy. K92 anticipated upd ating the Mineral Resource and

mining blocks for this area by the end of December when the balance of the results from the grade

control drilling have been received. The drilling from the firs t cuddy, at grade control spacing, is

part of a strategy to define mining blocks in the Kora North di scovery area while concurrently

starting to test the large size potential of Kora which remains not only open along strike and at

depth, but strongly mineralized at the extent of all drilling.

The next drill cuddy has been completed a further 125 metres along strike to the south towards the

existing Kora mineral resource, and drilling from this cuddy wi ll commence shortly with a new

rig which has recently arrived on site.

Table 1 Initial Kora North Mineral Resource

Category Tonnes Au Cu Ag Au Eq

Indicated 41,500 9.57 0.91 25.90 11.26

Measured 45,000 9.92 1.94 26.70 13.12

Total 86,500 9.75 1.45 26.30 12.23

 The Mineral Resources is inclusive of those mineral resources that have been included in the mining blocks

defined in Table 2

 Gold Equivalent (Au Eq) g/t was calculated using the formula Au g/t + (Cu% x 1.45) + Ag g/t x 0.0145

 Gold Price US$1,300/oz; Silver US$18/oz; Copper US$2.75/lb

 Cut off head grade of 4.52 g/t AuEq applied, as estimated in th e ITR Mineral Resource Estimate and

Preliminary Economic Assessment of Irumafimpa and Kora Gold Deposits, Kainantu Project, PNG dated 2

March 2017

 A top cut of 60 g/t was applied to the gold assays

Table 2 Initial Kora North Mining Blocks

Level Tonnes Au Cu Ag Au Eq AuEq Ozs

1160 mRL 51,200 9.93 1.09 22.8 11.84 19,500

1191.5 mRL 30,100 6.14 0.85 14.9 7.58 7,300

1210 mRL 42,900 4.60 1.16 16.1 6.51 9,000

Total 124,200 7.17 1.06 18.6 8.97 35,800

 Gold Equivalent (Au Eq) g/t was calculated using the formula Au g/t + (Cu% x 1.45) + Ag g/t x 0.0145

 Cut off head grade of 3.71 g/t AuEq applied, as estimated in th e ITR Mineral Resource Estimate and

Preliminary Economic Assessment of Irumafimpa and Kora Gold Deposits, Kainantu Project, PNG dated 2

March 2017

 The mining blocks contain all of the Mineral Resources defined in Table 1 above and includes a minimum

mining width and dilution as follows:

 Minimum Mining Width of 2.5 metres

 Dilution of 0.5 metres at a grade of 0.5 g/t Au, 0.15% Cu and 1 g/t Ag has been applied to both the

Footwall and the Hanging wall

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

the initial resource and mining blocks that have been defined using the results from the grade

control drilling and face sampling. With over 8,000 tonnes already mined and a further 124,200

tonnes remaining in the 150 metre x 75 metre mining block, our target1 of identifying mining

blocks containing 200,000 to 250,000 tonnes at a grade of 7 - 9 g/t AuEq from grade control

drilling covering an area of 150 metres x 150 metres from this first drill cuddy appears

achievable. We will continue to mine from development within this area and expect to commence

stope production from Kora North in early 2018. We are also continuing to develop along strike

on the Kora lode to the south towards the existing Kora deposit.”

Note 1 The target tonnes and grade are conceptual in nature as the balance of the area has

insufficient drilling to define a mineral resource or mining bl ocks and it is therefore uncertain

whether further drilling will delineate additional resources. T he target is based on extending

existing results from the 150 x 75 metre area to the entire 150 metre x 150 metre area and applying

a minimum mining width of 2.5 metre and dilution of 0.5 metres to the footwall and hanging wall.

K92 Mine Geology Manager and Mi ne Exploration Manager, Mr. Andr ew Kohler, PGeo, a

qualified person under the meaning of Canadian National Instrument 43-101, has reviewed and is

responsible for the technical content of this news release. Data verification by Mr. Kohler includes

significant time onsite reviewing drill core, face sampling, un derground workings and discussing

work programs and results with geology and mining personnel.

K92 also announces that on November 28, 2017, the Company granted a total of 300,000 incentive

stock options to directors and consultants. The options were granted in accordance with the terms

of the Company’s stock option plan. They are exercisable at a price of C$0.65 per share, vest over

a period of 12 months, with the initial vesting on the date of grant and expire on November 28,

2022.

On behalf of the company,

John Lewins

Chief Executive Officer and Director

K92 has a standard underground face sampling procedure in place in which face geological

mapping and channel samples are taken across the strike, at rig ht angles to the drive walls at

intervals of approximately of 1.5m apart coinciding with the development advance of the heading.

A geologist determines the interval lengths across the face for each sample depending on the

geological character of the material. Two samples are taken per interval at waist and knee height

and the corresponding widths recorded. No greater than 1.5m int ervals are allowed during

sampling. Samples are approximately 3.5kg in size. Assay for Au, Ag and Cu are averaged using

length weighting of the sample interval and then, coupled with the orientation of channel and

placed in the database. Standard QAQC procedures are used for underground samples as described

in the ITR Mineral Resource Estimate and Preliminary Economic Assessment of Irumafimpa and

Kora Gold Deposits, Kainantu Project, PNG dated 2 March 2017.

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.