K92 Mining Provides Operations 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 OPERATIONS UPDATE
Vancouver, British Columbia, March 19, 2024 - K92 Mining Inc. (“K92” or the “Company”)
(TSX: KNT; OTCQB: KNTNF) announces that underground operations at the Kainantu Gold
Mine have been temporarily suspended after a non-industrial incident occurred on the Company’s
mining lease on March 10, 2024 , resulting in a deceased employee. Processing operations were
temporarily suspended for three days and have resumed processing stockpiles.
Preliminary findings from K92 and the Royal Papua New Guinea Constabulary (Police) have
concluded that the death is a non-industrial suspicious incident. K92 is working with the relevant
Government authorities under the Criminal Code Act and Mining (Safety) Act to support their
investigations.
On March 13, 2023, the Mineral Resources Authority (“MRA”) ordered a temporarily suspension
of underground operations through issuance of a “Form 29” , pending the completion of action
orders in relation to an independent safety audit and the installation of a collision avoidance
system. Work on these action orders is underway and were in process by the Company prior to the
issuance of the action orders.
Given the non -industrial nature of the incident , procedural, determination and jurisdictional
breaches of the Mining (Safety) Act in issuing the Form 29 , K92 filed an appeal on March 14,
2023 and expects this to be addressed shortly.
The Company is working to resolve this expeditiously and will be providing an update in due
course.
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 and is in a strong financial position. 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.
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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, 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; (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 COVID-19 virus; 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 weat her 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 m ineral 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, Kora, 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 m eet 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;
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 futur e 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”.
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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 actual 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 state ments 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.