K92 Mining Provides Operational Update
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 PROVIDES OPERATIONAL UPDATE
Vancouver, British Columbia, February 27, 2023 - K92 Mining Inc. (“K92” or the “ Company”)
(TSX: KNT; OTCQX: KNTNF) is providing an operational update for its Kainantu Gold Mine in
Eastern Highlands Province, Papua New Guinea. During the month of February, the process plant has
experienced two notable unplanned maintenance events that cumulatively will have a n impact on
February and First Quarte r production. In early February one of the mill trunnion bearings failed ,
requiring immediate replacement and resulting in two days downtime, although planned maintenance
of other plant equipment was carried out during the stoppage. On February 20th, a limited electrical fire
in a cable tray resulted in damage to a number of cables feeding the wet section of the process plant.
The cables were all replaced by February 25, and the plant was brought back online and has operated
normally since restarting.
Although the above incident resulted in a total of 8 days downtime and will impact production for the
first quarter, it is not expected that there will be any impact on the 2023 guidance.
John Lewins, K92 Chief Executive Officer and Director, stated, “We are obviously disappointed to
have two unplanned incidents in a short period of time, which has impacted our short-term production.
However, I am extremely pleased at the manner in which our teams have responded and been able to
quickly effect repairs and restart operations. Our preparation for these unplanned events in terms of
holding critical spares, availability of necessary skills within the Company and commitment of our
people has been exceptional. That the process plant has been brought back into production so quickly
after each event is a testament to their skills and hard work.”
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. A maiden resource estimate on the
Blue Lake porphyry project was completed in August 2022. K92 is operated by a team of min ing
company professionals with extensive international mine-building and operational experience.
On Behalf of the Company,
2
John Lewins, Chief Executive Officer and Director
For further information, please contact David Medilek, P.Eng., CFA, President 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 Project Definitive
Feasibility Study, and the Kainantu 2022 Preliminary Economic Assessment, 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; and (iii) the Kainantu Stage 4 Expansion, operating two
standalone process plants, larger surface infrastructure and mining throughputs.
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, identified by words such as “expec t”, “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”, “would”, “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 assumptions 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 COVID-19 Pandemic;
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 related to weather and climate in remote are as 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; 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; the ability of the Company to achieve the inputs the price and
market for outputs, including gold, silver and copper; inability of the Company to identify appropriate
acquisition targets or complete desirable acquisitions; 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 conflict in Ukraine; 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 associated 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 p roduction. 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 accu racy of any such estimates is a
function of the quantity and quality of available data, and of the assumptions made and judgments used in
3
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 as a result of new information, future events or otherwise, except as required by law.