K92 Mining Files Amended Technical Report FOR Kora Stage 3 Expansion PEA

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 FILES AMENDED TECHNICAL REPORT FOR KORA STAGE 3

EXPANSION PEA

Vancouver, British Columbia, November 20, 2020 - K92 Mining Inc. (“K92” or the “Company”)

(TSX-V: KNT; OTCQX: KNTNF) announces that, in response to comments raised by the Toronto

Stock Exchange (”TSX”) in connection with the Company’s contemplated listing on the TSX (see news

release dated October 15, 2020) it has filed an amended technical report titled, “ Revised Independent

Technical Report, Mineral Resource Estimate Update and Preliminary Economic Assessment for

Expansion of the Kainantu Mine to Treat 1 Mtpa from the Kora Gold Deposit, Kainantu Project, Papua

New Guinea”, dated November 13, 2020 and with an effective date of April 2, 2020 (the “Technical

Report”), prepared by Anthony Woodward BSc (Hons.), M.Sc., MAIG, Simon Tear BSc (Hons),

EurGeol, PGeo IGI, EurGeol, Christopher Desoe BE (Min)(Hons), FAusIMM, RPEQ, Lisa J. Park,

BEng (Chem), MAppFin, GAICD, FAusIMM. The Technical Report is available for download on the

Company’s website and SEDAR profile (www.sedar.com). Refer to the Company’s news release dated

July 27, 2020 for a summary of the results of the preliminary economic assessment (“PEA”).

There were no material amendments to the findings of the PEA and the mineral resource estimates, or

to the recommendations and conclusions provided in the original report dated July 27, 2020 . The

Technical Report was amended to include after-tax data in addition to the pre-tax data in the economic

analysis information disclosed in Section 22, including Tables 81, 82 and 85, of the Technical Report.

In addition, the name of the laboratory used for assays of core sampling, as well as details of

certification, independence, and verification of the on-site laboratory were added.

The PEA is preliminary in nature and includes inferred mineral resources that are considered too

speculative geologically to have the economic considerations applied to them that wo uld enable them

to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. The

Technical Report contains a full description of all underlying assumptions relating to the PEA. Mineral

Resources that are not Mineral Reserves do not have demonstrated economic viability.

About K92

K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora deposit at the

Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as explorati on

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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.

The Company commenced an expansion of the mine based on an upda ted Preliminary Economic

Assessment on the property which was published in January 2019 and updated in July 2020. 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 at +1-604-687-7130.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT

TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news

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

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

assumptions that, while considered 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 herein 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 operating costs, the

availability of financing, the receipt of regulatory approvals, assumptions contained in the PEA,

environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated,

accidents, labour disputes, claims and limitations on insurance coverage 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 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.