K92 Mining Hosts Visit BY State Delegation Including the Honorable James Marape, Prime Minister of Papua New Guinea, & Receives Approval of Community Development Tax Credit Scheme
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 HOSTS VISIT BY STATE DELEGATION INCLUDING THE
HONORABLE JAMES MARAPE, PRIME MINISTER OF PAPUA NEW GUINEA, &
RECEIVES APPROVAL OF COMMUNITY DEVELOPMENT TAX CREDIT SCHEME
Vancouver, British Columbia, February 16, 202 1 - K92 Mining Inc . (“ K92” or the
“Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce that on February 12, 2020,
a State Delegation, including the Honorable James Marape, Prime Minister of Papua New Guinea,
the Honorable Peter Numu, Governor of Eastern Highlands Province, and the Honorable Johnson
Tuke, Minister for Mining and local Member of Parliament for Kainantu, met with representatives
of K92. Highly productive meetings, presentations and community events were held in Goroka
and Kainantu township s, followed by a site visit to K9 2’s Kainantu Gold Mine in Eastern
Highlands Province, PNG.
In Kainantu township, K92 announced a contribution of PGK1 million (US$285k) towards
building a new market to support local businesses and commerce, and the receipt of approval for
a community development tax credit scheme which enhances K92’s numerous planned community
development initiatives. K92 also hosted a site tour of the Kainantu Gold Mine for Prime Minister
James Marape and his delegation . Following COVID -19 protocols, the aer ial tour focused on
mining and processing operations, infrastructure, expansion plans , exploration, communities and
environmental management.
John Lewins, K92 Chief Executive Officer and Director, commented, “The Government of Papua
New Guinea has been a very consistent supporter of our operations and a major factor in our
ability to operate effectively during the COVID-19 pandemic environment. We are proud of what
has been accomplished over the past few years at Kainantu, and especially our achievements over
the past twelve months during the COVID -19 pandemic. I t was truly a privilege to host Prime
Minister James Marape and his delegation and provide an overview of the Kainantu Gold Mine
operations and our plans for the expansion of operations going forward.
We are proud of the increased economic and employment opportunities , and community
development that has occurred as Kainantu ’s operations have continued to expand. Our PGK1
million contribution towards the development of a new market in K ainantu is expected to drive
multiple business and commence opportunities, and the approval of the community development
tax credit scheme provides an opportunity for the Company to partner with the government to
deliver much needed community infrastructure.”
2
See Figure 1 for photo from meeting in Goroka with the Honorable James Marape, Prime Minister
of Papua New Guinea, and K92 CEO and Director John Lewins
See Figure 2 for K92 CEO and Director John Lewins present ing cheque for PGK1 million to the
Honorable Johnson Tuke, Minister for Mines as contribution from K92 towards the new Kainantu
Market
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
exploration and development of mineral deposits in the immediate vicin ity 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 updated 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 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news
release includes certain “forward -looking statements” under applicable Canadian securiti es
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 f uture 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 pr ice 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, 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
3
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 – Meeting in Goroka with the Honorable James Marape, Prime Minister of Papua New
Guinea and K92 CEO and Director John Lewins
4
Figure 2 – K92 CEO and Director John Lewins presents cheque for PGK1 million to the
Honorable Johnson Tuke, Minister for Mines as contribution from K92 towards the new Kainantu
Market