K92 Mining Announces the Passing of Board Member, Graham Wheelock

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 THE PASSING OF BOARD MEMBER, GRAHAM WHEELOCK

Vancouver, British Columbia, May 5, 2025 - K92 Mining Inc . (“K92” or the “ Company”)

(TSX: KNT; OTCQX: KNTNF) announces with tremendous sadness the passing of our fellow

director and colleague, Graham Wheelock . Graham served on K92’s Board of Directors

continuously from February 2016, having been appointed to the Board of K92 when the Company

first began trading in 2016.

Graham’s extensive mining career as a geologist and mining professional spanned over 40 years

working for international mining companies. Graham was a person of integrity and ability, and

was an integral part of the success and transformation of K92. In 2005, he co -founded Gem

Diamonds Limited (“Gem Diamonds”). He helped manage Gem Diamonds’ initial public offering

in 2007, when the company was listed on the London Stock Exchange with a market capitalization

of £600 million. Following Gem Diamonds, Graham was Project Manager and former Managing

Director of Polynatura Corp., the company developing the Ochoa Fertilizer project in New

Mexico, USA. Graham also worked with Anglo American pl c and De Beers as a gold and

diamonds geologist and manager. He also spent time as Acting General Manager for De Beers

Namaqualand Mines in South Africa, responsible for 2,300 employees and annual production of

4.5 million tons.

John Lewins, K92 Chief Executive Officer and Director, stated, “Graham’s passing is a profound

loss for all of us at K92. He brought not only a remarkable depth of technical expertise and

industry knowledge, but also a genuine passion for the work we do and the stakeholders we serve.

Graham was a thoughtful and principled leader, whose strategic insight earned the respect of

everyone around him. His contributions extended well beyond the boardroom, and his mentorship

has had a lasting impact throughout the Company. We will miss his wisdom, his calm presence,

and his sincere dedication to K92’s mission. Our thoughts and heartfelt sympathies are with his

family during this difficult time.”

The Company will continue to be supported by the directors, led by Anne Giardini, KC, Chair.

2

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 mtpa 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 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 r elated 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, Kor a, 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;

3

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 social, economic and political conditions, including

relationship with the communities in Papua New Guinea and other jurisdictions it operates; other

assumptions and factors generally asso ciated 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 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 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 a s a result of new information,

future events or otherwise, except as required by law