K92 Mining Announces Resumption of Expatriate Fly-IN Fly-Out Travel Between Papua New Guinea and Australia

Suite 488 – 1090 West Georgia Street

Vancouver, British Columbia

Canada V6E 3V7

Telephone: +1 (604) 687-7130

Facsimile: +1 (604) 608-9110

www.k92mining.com

NEWS RELEASE

K92 MINING ANNOUNCES RESUMPTION OF EXPATRIATE FLY-IN FLY-OUT

TRAVEL BETWEEN PAPUA NEW GUINEA AND AUSTRALIA

Vancouver, British Columbia, May 10, 2021 - K92 Mining Inc . (“K92” or the “ Company”)

(TSX: KNT; OTCQX: KNTNF) is pleased to announce that the Government of Australia has

lifted the suspension of travel for the resource sector’s expatriate fly-in fly-out workforce between

Papua New Guinea and Australia, which was put in place on March 17, 2021. This follows on

from the introduction of enhanced COVID-19 protocols by the resource sector to mitigate the risk

of COVID -19 from fly-in fly -out workers returning to Australia. The first K92 personnel are

scheduled for international travel later this week and the enhanced protocols should ensure there

are no further disruptions to the movement of expatriate personnel.

During the expatriate travel restriction period, the Kainantu Gold Mine continuously operated. The

mine operates with a comprehensive COVID -19 Management Plan and a significant focus on

health and safety and risk -mitigation. Under the COVID -19 Management Plan, K92 operates a

Government recognized testing lab facility, has qualified medical personnel on site, quarantine and

isolation facilitie s for incoming staff, testing for all incoming staff, and enhanced hygiene,

disinfecting and training systems and procedures.

The previous travel restriction, as noted in the Company’s March 18, 2021 press release (see press

release: Kainantu Operations and COVID-19 Update), has impacted some non-production related

activities. This impact includes the twin incline, which is the long -lead time item for the Stage 3

Production Expansion as well as a reduction in the amount of exploration and resource definition

drilling undertaken during this period. As a result, the completion of the updated resource estimate

required for the Definitive Feasibility Study is expected to be delayed until Q4 2021.

While there has been some limited impact on operations due to lower numbers of expatriate

personnel on site during the period of travel restrictions, this not expected to impact guidance for

2021.

John Lewins, K92 Chief Executive Officer and Di rector, stated, “We would like to thank the

Governments of Australia and Papua New Guinea for their ongoing support of our industry during

this challenging period and in the development of the enhanced systems and protocols to enable

resumption of travel for the resource sector’s fly-in fly-out expatriate workforce from Australia.

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The commitment and resourcefulness of our PNG National and expatriate workforce on site during

this time has also been exceptional in maintaining operations in challenging circumstances.”

On Behalf of the Company,

John Lewins, Chief Executive Officer and Director

For further information, please contact David Medilek, P.Eng., CFA at +1-604-687-7130.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news

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

legislation. Forward-looking statements are necessarily based upon a number of estimates and

assumptions that, while considere d reasonable, are subject to known and unknown risks,

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

materially from those expressed or implied by such forward -looking 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 Kainantu Project , expectations of

future cash flows, the planned plant expansion, production results, cost of sales, sales of

production, potential expansion of resources and the generation of further drilling results which

may or may not occur. Forward -looking statements and information contained her ein are based

on certain factors and assumptions regarding, among other things, the market price of the

Company’s securities, metal prices, exchange rates, taxation, the estimation, timing and amount

of future exploration and development, capital and opera ting costs, the availability of financing,

the receipt 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 coverag e and other risks of the mining industry, changes in national and local

government regulation of mining operations in PNG , mitigation of the Covid -19 pandemic,

continuation of the lifted state of emergency, and regulations and other matters. There can be n o

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.