K92 Mining Announces Major Operational Milestone with First Production and Official Inauguration of the Stage 3 Expansion Process Plant

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 MAJOR OPERATIONAL MILESTONE WITH FIRST

PRODUCTION AND OFFICIAL INAUGURATION OF THE STAGE 3 EXPANSION

PROCESS PLANT

Vancouver, British Columbia, October 16, 2025 - K92 Mining Inc . (“K92” or the “ Company”)

(TSX: KNT; OTCQX: KNTNF) is pleased to announce that it has produced its first commercial grade

gold-copper-silver concentrate and plans to imminently commence shipments from its new 1.2 million

tonnes per annum (“ tpa”) Stage 3 Expansion process plant at its Kainantu Gold Mine in Papua New

Guinea.

As part of the Official Inauguration Ceremony held on site on October 16, the Prime Minister of Papua

New Guinea, the Hon. James Marape, witnessed a gold pour at the new process plant, producing 458

ounces of dor é. In addition to the Prime Minister, key stakeholders attended the event , including

Minister for Mining Hon. Rai nbo Paita; other distinguished Ministers and Members of Papua New

Guinea’s national parliament ; members of Eastern Highlands Provincial Government ; Heads of

Government Depart ments and Agencies ; Bilimoia Landowner Association Chairman, Busa Sio ;

Associated Landowners Association Chairman , Noka Tinko ; and local leaders. Members of the

diplomatic community, business and industry representatives, the Board of Directors of K92, project

partners and industry peers were also in attendance.

The new Stage 3 Expansion Process Plant remains on track for completion of commissioning in the

first half of Q4. The process plant was delivered under budget and represents the largest growth capital

item for the Stage 3 Expansion, of which 90% has been spent or committed as of September 30, 2025.

John Lewins, K92 Chief Executive Officer and Director, stated, “I am very pleased to announce that

the Stage 3 Expansion Process Plant has achieved its inaugural production, a major milestone for our

Company, our stakeholders, and the country of Papua New Guinea. This achievement is the result of

the tireless efforts and collaboration of our workforce, contractors, and partners. I commend our team

for successfully bringing this major project online safely, efficiently, and under budget.

We were deeply honoured to have the Prime Minister of Papua New Guinea, the Hon. James Marape,

along with the Minister for Mining, Hon. Rainbo Paita, and other senior government and community

representatives attend the Official Inauguration Ceremony. Their continued partnership and support

have been instrumental to the success of the Kainantu Gold Mine.

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This marks an exciting chapter in K92’s history as the Company advances towards Tier -1, mid-tier

producer status. Beyond celebrating this milestone, we are excited for the significant long-term benefits

that the Stage 3 Expansion will deliver for our employees, communities, and all stakeholders.”

Qualified Person

K92 Mine Chief Geologist, 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. Data verification by Mr. Kohler includes

significant time onsite reviewing drill core, face sampling, underground workings, and discussing work

programs and results with geology and mining personnel.

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, and is working to become a Tier 1

mid-tier producer through ongoing plant expansions. A maiden resource estimate on the Blue Lake

copper-gold 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 and Chief Operating

Officer 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 Mine Definitive Feasibility

Study, including the Stage 3 Expansion, a new standalone 1.2 million-tonnes-per-annum process plant and

supporting infrastructure; (ii) statements regarding the expansion of the mine and development of any of the

deposits; (iii) the Kainantu Stage 4 Expansion, operating two standalone process plants, larger surface

infrastructure and mining throughputs; and (iv) the potential extended life of the Kainantu Mine.

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, id entified by words such as “expect”, “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”, “wo uld”, “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 assumption s 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 epidemic or pandemic

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

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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 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 resources may never be converted into mineral reserves; the Company’s ability to carry on current and

future operations, including development and exploration activities at the Arakompa, Kora, Judd and other

projects; 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; failures

of information systems or information security threats; political, economic and other risks associated with the

Company’s foreign operations; geopolitical events and other uncertainties, such as the conflicts in Ukraine,

Israel and Palestine; 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 so cial, 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 othe r 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.

Figure 1: Papua New Guinea Prime Minister, the Hon. James Marape (centre) ; Minister for Mining , the Hon. Rainbo Paita (2 nd from

right);Member of Kainantu District, the Hon. William Hagohuno (left); K92 Mining Chair, Anne Giardini (2nd from left) and K92 Mining

CEO and Director, John Lewins (right) celebrating the Grand Opening of the Stage 3 Expansion Process Plant on October 16, 2025.

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Figure 2: Stage 3 Expansion Process Plant

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Figure 3: Delegation led by Prime Minister of Papua New Guinea, the Hon. James Marape and Minister for Mining and, the Hon. Rainbo

Paita, witnessed a gold pour at the new process plant, producing 458 ounces of doré.