K92 Mining Announces Executive Promotions of David Medilek to President and Warren Uyen to Chief Operating Officer

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 EXECUTIVE PROMOTIONS OF DAVID MEDILEK TO

PRESIDENT AND WARREN UYEN TO CHIEF OPERATING OFFICER

Vancouver, British Columbia, January 9, 2023 - K92 Mining Inc . (“K92” or the “ Company”)

(TSX: KNT; OTCQX: KNTNF) is pleased to announce the promotions of David Medilek to the

position of President and Warren Uyen to the position of Chief Operating Officer.

Mr. Medilek is a mining professional with over 15 years of mining capital markets, corporate strategy

and technical operating experience. He has served as the Company’s Vice President Business

Development and Investor Relations for over three years. Previously, Mr Medilek was an equity

research analyst covering precious metals companies, with Macquarie Group Limited; a mining

investment banker with Cormark Securities Inc.; and a mining engineer with Barrick Gold Corporation

in Western Australia. Mr. Medilek holds a Bachelor of Applied Science in Mining Engineering with

Distinction from the University of British Columbia, a Professional Engineer designation in the

Province of British Columbia, and is a CFA® charterholder*.

Mr. Uyen is a Mining Engineer with over 30 years of experience in the mining industry in Australia

and Asia. He previously served as K92’s Senior Vice President Operations for over four years. Mr .

Uyen joined K92 from the Australian mining contractor, MacMahon Holdings Limited, where he was

Executive General Manager of Underground Operations. Prior to this, Mr Uyen, spent almost five years

as General Manager of Eldorado Gold’s White Mountain Gold Mine in the People’s Republic of China.

Mr. Uyen holds a Bachelor of Applied Science in Mining Engineering from the Western Australia

School of Mines and holds a Mas ter of Business Administration from the University of Southern

Queensland.

John Lewins, K92 Chief Executive Officer and Director, stated, “Over the last few years, David and

Warren have made significant contributions to the success of the Company. Their h ard work,

dedication and resourcefulness, together with their individual potential and capacity to take on

expanded roles to continue to drive the future development of our Company , combined to make a

compelling rationale for their respective promotions. Congratulations David and Warren – we look

forward to your continued contributions to the business, as K92 unlocks Kainantu’s incredible

potential.”

*CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

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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 , is in a strong financial position. A maiden resource estimate on the

Blue Lake porphyry project was completed in August 2022. K92 is operated by a t eam 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 at +1-604-416-4445

CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news

release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such

forward-looking statements include, without limitation: (i) the results of the Kainantu Project Definitive

Feasibility Study, and the Kainantu 2022 Preliminary Economic Assessment, including the Stage 3 Expansion,

a new standalone 1.2 mtpa process plant and supporting infrastructure; (ii) statements regarding the expansion

of the mine and development of any of the deposits; and (iii) the Kainantu Stage 4 Expansion, operating two

standalone process plants, larger surface infrastructure and mining throughputs.

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 “expec t”, “plan”, “anticipate”, “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 unknown 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 the COVID-19 Pandemic;

changes in the price of gold, silver, copper and other metals in the world markets; fluctuations in the price and

availability of infrastructure and energy 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 are as 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 resources 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

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threats; 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 referred

to in the Company’s Annual Information Form under the heading “Risk Factors”.

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 p roduction. 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 accu racy 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 statements, 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.