K92 Mining Publishes Latest Sustainability Report Outlining Significant Achievements IN ESG
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 PUBLISHES LATEST SUSTAINABILITY REPORT OUTLINING
SIGNIFICANT ACHIEVEMENTS IN ESG
Vancouver, British Columbia, October 20, 2021 - K92 Mining Inc. (“K92” or the “Company”)
(TSX: KNT; OTCQX: KNTNF) is pleased to announce that it has published its 2020
Sustainability Report . This is K92’s second annual sustainability report, outlining the
environmental, social and governance (“ESG”) practices and performance of the Company . The
report also marks another significant improvement in disclosure and is in accordance with the
Sustainability Accounting Standards Board (“SASB”) Metals and Mining Standard. Additionally,
this year, an ESG materiality assessment was completed, with a tremendous amount of engagement
from both external and internal stakeholders, and its results and feedback are reflected in the report.
The 2020 Sustainability Report is available on the K92 website at the following link:
https://k92mining.com/responsible-mining/
Environment, Social and Governance Highlights:
• 95% of workforce PNG Nationals with priority hiring from local communities.
• 85% increase in total community investment from US$655,000 to US$1.2 million.
• Top 3% safety record in the Australasia region with one lost time incident (LTI).
• Major corporate taxpayer in PNG with first instalment paid in July 2020, only ~2 years
after declaring commercial production.
• 1.5 million PGK (US$433,500) COVID -19 Assistance Fund created supporting Papua
New Guinea National Government, Eastern Highlands and Morobe Provincial
Governments and local communities to respond to the COVID-19 pandemic.
• Agreement in Principle on a revised Memorandum of Agreement covering the
Kainantu Gold Mine operation.
• 10 million tree program participant supporting Papua New Guinea’s goal of planting
one million new trees a year for ten years.
• Strong COVID-19 resiliency through successful implementation of hygiene distancing,
testing and quarantine measures in addition to on -site medical sta ff to protect the health
and safety of our workforce and local communities. Vaccination programs commenced on
site in 2021.
• Access to clean water expanded to another local community in 2020, ending generations
of loading and carting water almost 2km to their communities.
• Developing business and empowering women through Sustainable Agriculture
Livelihoods program, employing 75% women and successfully growing new types of crops
in the lowlands.
• 1.0 million PGK ( US$285,000) contribution to new market in Kainantu to support
regional commerce.
• 63% of expenditures locally procured since start of operations , supporting the
development of long-term sustainable businesses.
• Strong commitment to education, including 50 tertiary education scholarships, financial
assistance to the University of Technology in Lae, PNG, work experience to students and
recent graduat es, and assisting parents in local communities with primary education
enrolment fees.
John Lewins, K92 Chief Executive Officer and Director, stated, “Since restarting operations in
2016, declaring commercial production in early 2018 and subsequently expanding the operation,
it is with a profound sense of pride to see the positive impact that the Kainantu Gold Mine has had
on our local communities and more broadly on Papua New Guinea. We are very pleased to be
able to share our ESG practices and performance, our accomplishments and provide an update in
this latest sustainability report.
As p art of the sustainability report, K92 completed a materiality assessment, listening to our
various external and internal stakeholders to better appreciate what matters to them. This report
incorporates their feedback and , more importantly , will certainly i nfluence our efforts going
forward. We have also improved the disclosure contained in the report to become our first
sustainability report outlining ESG practices and performance in accordance with the SASB
Metals and Mining standard. In future reports, we plan on enhancing our disclosure further by
introducing additional reporting standards.
It is also worth noting that these accomplishments were achieved during a particularly challenging
period due to the COVID -19 pandemic. Our workforce on site has show n tremendous
resourcefulness and dedication to ensure the continuity of community projects, maintain
environmental commitments while continuously operating and expanding the operation. The
support of the Government of Papua New Guinea and the Government of Australia continues to
be a major factor in our success as well.”
About K92
K92 Mining Inc. is engaged in the production of gold, copper and silver from 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.
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 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news
release includes certain “forward -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 eve nts 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 Mine, 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, 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 min ing 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.