K92 Mining Announces 2030 Ghg Reduction Target
Suite 488 - 1090 West Georgia Street
Vancouver, British Columbia
Canada V6E 3V7
Telephone: +1 (604) 416-4445
Facsimile: +1 (604) 608-9110
www.k92mining.com
NEWS RELEASE
K92 MINING ANNOUNCES 2030 GHG REDUCTION TARGET
Vancouver, British Columbia, June 21, 2023 - K92 Mining Inc. (“K92” or the “Company”) (TSX:
KNT; OTCQX: KNTNF) is pleased to announce that the Company has set its inaugural energy and
greenhouse gas (“GHG”) emissions reduction target as part of its ongoing overall sustainability
commitments.
After completing detailed energy and GHG forecast s for its Stage 3 and Stage 4 Expansions, and
identifying opportunities for energy reductions, the Company has set a target to reduce Scope 1 and
Scope 2 emissions by 25% on a business -as-usual basis by 2030 (a 25% reduction against forecast
Scope 1 and 2 G HG emissions by 2030 assuming no mitigation measures are implemented to reduce
carbon emissions). Additional information on the GHG target and the overall approach to sustainability
will be available in the Company’s forthcoming Sustainability Report covering 2022.
K92 Mining’s CEO and Director John Lewins stated, “As part of our commitment to help combat the
negative impacts of climate change, we are pleased to announce our inaugural GHG reduction target,
aiming to reduce our Scope 1 and Scope 2 emissions by 25% on a business -as-usual basis by 2030.
The Kainantu mine is a high-grade, underground operation with a significant amount of power sourced
from hydroelectricity, a cleaner, renewable power source. As a result, we have one of the lower carbon
footprints in the industry and we continue to look for opportunities to improve upon this.
Importantly, we have already taken action to reduce our emissions through our partnership with PNG
Power Ltd., which aims to upgrade grid power infrastructure near Kainantu. We recently completed a
dedicated 22kV powerline to site to increase the reliability of clean hydroelectric power from the grid
and reduce the use of backup diesel gensets. Additional power upgrades to increase our renewable
energy profile are being investigated.
Beyond this, we are also exploring the potential electrification of our fleet and carbon sequestration .
In combination with other energy reduction initiatives, we are confident we can achieve our GHG
reduction goals, and we remain committed to working with our partners and our stakeholders in
support of the world’s transition to a low-carbon economy.”
About K92
K92 Mining Inc. is engaged in the production of gold, copper and silver 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. A maiden resource estimate on
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the Blue Lake porphyry project was completed in August 2022. 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 Director
For further information, please contact David Medilek, P.Eng., CFA, President at +1-604-416-4445
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news
release includes certain “forward -looking information” within the meaning of applicable Canadian
securities legislation (“forward-looking statements”), including, but not limited to, the impact of global
supply chain and financial market disruptions; projections of future financial and operational
performance; statements with respect to future events or future performance; production estimates;
anticipated operating and production costs a nd revenue; estimates of capital expenditures; future
demand for and prices of commodities and currencies; estimated mine life of our mine; estimated
closure and reclamation costs and statements regarding anticipated exploration, development,
construction, production, permitting and other activities on the Company’s properties, including:
expected gold, silver and copper production and the Stage 3 Expansion and Stage 4 Expansion.
Estimates of mineral reserves and mineral resources are also forward-looking statements because they
constitute projections, based on certain estimates and assumptions, regarding the amount of minerals
that may be encountered in the future and/or the anticipated economics of production. All statements
in this news release that address events or developments that we expect to occur in the future are
forward-looking statements. Forward -looking statements are statements that are not historical facts
and are generally, although not always, identified by words such as “expect”, “plan”, “a nticipate”,
“project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or
“believe” and similar expressions or their negative connotations, or that events or conditions “will”,
“would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based
on the opinions and estimates of management as of the date such statements are made.
Forward-looking statements are necessarily based on estimates and assumptions that are inherently
subject to known and un known risks, uncertainties and other factors, many of which are beyond our
ability to control, that may cause our actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such forward -looking information. Such
factors include, without limitation, Public Health Crises, including pandemics; changes in the price of
gold, silver, copper and other metals in the world markets; fluctuations in the price and availability of
infrastructure and energ y and other commodities; fluctuations in foreign currency exchange rates;
volatility in price of our common shares; inherent risks associated with the mining industry, including
problems related to weather and climate in remote areas in which certain of the Company’s operations
are located; failure to achieve production, cost and other estimates; risks and uncertainties associated
with exploration and development; uncertainties relating to estimates of mineral resources including
uncertainty that mineral re sources may never be converted into mineral reserves; the Company’s
ability to carry on current and future operations, including development and exploration activities; the
timing, extent, duration and economic viability of such operations, including any mineral resources or
reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and
assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the
availability and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the
Stage 4 Expansion; the ability of the Company to achieve the inputs the price and market for outputs,
including gold, silver and copper; inability of the Company to identify appropriate acquisition targets
or complete desirable acquisitions; failures of information systems or information security threats;
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political, economic and other risks associated with the Company’s foreign operations; geopolitical
events and other uncertainties, such as the conflict in Ukraine; compliance with various laws and
regulatory requirements to which the Company is subject to, including taxation; the ability to obtain
timely financing on reasonable terms when required; the current and future social, economic and
political conditions, including relationship with the communities in Papua New Guinea and other
jurisdictions it operates; other assumptions and factors generally associated with the mining industry;
and the risks, uncertainties and other factors refer red to in the Company’s Annual Information Form
under the heading “Risk Factors” and filed on SEDAR or the Company’s website.
Estimates of mineral resources are also forward -looking statements because they constitute
projections, based on certain estimates and assumptions, regarding the amount of minerals that may
be encountered in the future and/or the anticipated economics of production. The estimation of mineral
resources and mineral reserves is inherently uncertain and involves subjective judgments about many
relevant factors. Mineral resources that are not mineral reserves do not have demonstrated economic
viability. The accuracy of any such estimates is a function of the quantity and quality of available data,
and of the assumptions made and judgments used in engineering and geological interpretation,
Forward-looking statements are not a guarantee of future performance, and a ctual results and future
events could materially differ from those anticipated in such statements. Although we have attempted
to identify important factors that could cause actual results to differ materially from those contained
in the forward -looking sta tements, there may be other factors that cause actual results to differ
materially from those that are anticipated, estimated, or intended. 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.