K92 Mining Pays Out Final Ounces of GOLD to Cartesian Royalty Holdings

Suite 488 – 1090 West Georgia Street

Vancouver, British Columbia

Canada V6E 3V7

Telephone: +1 (604) 687-7130

Facsimile: +1 (604) 608-9110

NEWS RELEASE

K92 MINING PAYS OUT FINAL OUNCES OF GOLD TO

CARTESIAN ROYALTY HOLDINGS

Vancouver, B ritish Columbia, September 3, 2019 - K92 Mining Inc . (“K92” or the

“Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce that K92 has now paid

out the final outstanding gold ounces owed to Cartesian Royalty Holdings II (“CRH”) under the

Gold Prepayment Agreement (“GPA”) which formed part of the financing agreements with CRH

(refer to K92’s consolidated interim financial statements for the three and six months ended June

30, 2019, filed on SEDAR and the Company’s website for information on the GPA). The Company

now has no outstanding liabilities or obligations to CRH.

John Lewins, K92 Chief Executive Officer and Director, stated, “K92 is extremely pleased to have

closed out this final part of the original financing agreement with CRH which provided the funds

used to refurbish the process plant and mine, allowing the Company to restart the Kainantu Mine.

This follows on from the payment to Barrick Gold Corporation reported on August 27, 2019, which

eliminated the contingent payment arrangements under the terms of the Barrick share sale

agreement.

This places K92 in a n excellent position going forward, with the mine expansion well under way

and production on target to meet guid ance for 2019. The strong positive cash flow from the

operation puts K92 in a strong position to aggressively implement its exploration and development

plans for the Kainantu Gold Mine and the surrounding exploration area.”

ON BEHALF OF THE COMPANY,

John Lewins, Chief Executive Officer and Director

For further information, please contact Investor Relations 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.

2

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain “forw ard-looking statements” under applicable Canadian

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 b elieves, expects

or anticipates will or may occur are forward-looking information, including statements regarding

the realization of the preliminary economic analysis for the Kainantu Gold Mine, expectations of

future cash flows, the proposed plant expansi on, continued drilling, 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 ot her 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, 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 lo cal government regulation of mining

operations, 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 otherwis e,

except as required by law.