K92 Receives $2.73 Million ON Warrants Exercised at $1.05 PER Share

Suite 488 – 1090 West Georgia Street

Vancouver, British Columbia

Canada V6E 3V7

Telephone: 1 (604) 687-7130

Facsimile: 1 (604) 608-9110

NEWS RELEASE

July 3, 2018 Vancouver, British Columbia

K92 RECEIVES $2.73 MILLION ON WARRANTS EXERCISED AT $1.05 PER SHARE

K92 Mining Inc. (TSXV: KNT; OTCQX: KNTNF) (“K92” or the “Company”) reports that it has

received CAN $2.73 million through an exercise of 2.6 million common share purchase

warrants, which were exercisable at $1.05 per share.

As a result of the warrant exercise, the Company issued 2.6 million common shares from

treasury and received total proceeds of $2.73 million.

The remaining 18,093,250 warrants issued in connection with a June 27, 2017 private placement

financing expired on June 27, 2018.

K92 is well financed, has a strong balance sheet, and mining and processing operations are cash -

flow positive.

As announced on June 26, 2018, K92 prepared an updated resource estimate on Kora North

based on results from underground grade control and expl oration diamond drilling, and face

sampling. The updated resource estimate comprises a measured resource of 242,900 tonnes at

13.9 grams per tonne gold, 19 g/t silver and 1.0 percent copper; an indicated resource of 442,800

tonnes at 11.8 g/t Au, 21 g/t Ag and 1.2 percent Cu; and an inferred resources of 1,084,400

tonnes at 13.2 g/t Au, 15 g/t Ag and 1.0 percent Cu.

Table 1 Kora North Mineral Resource – Effective Date June 25, 2018

Category Tonnes Gold Silver Copper AuEq

g/t Ozs g/t Ozs % 000's lb g/t Ozs

Measured

242,900 13.9

108,400 19

151,900 1.0

5,300 15.6

122,200

Indicated 442,800 11.8 168,100 21 298,100 1.2 11,900 13.9 198,300

Total M & I 685,700 12.5 276,500 20 450,000 1.1 17,200 14.5 320,500

Total Inferred 1,084,400 13.6 509,700 15 569,600 1.0 24,400 15.2 571,000

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 Gold Equivalent (Au Eq) g/t was calculated using the formula Au g/t + (Cu% x 1.53) + Ag

g/t x 0.0127.

 Gold Price US$1,300/oz; Silver US$16.5/oz; Copper US$2.90/lb.

 A top cut of 100 g/t was applied to the gold assays for the K1, K2 KL lodes.

 Mineral Resources which are not Mineral Reserves do not have demonstrated economic

viability.

 The estimate of Mineral Resources may be materially affected by environmental, permitting,

legal, title, taxation, socio-political, marketing, or other relevant issues.

 The Inferred Mineral Resource in this estimate has a lower level of confidence than that

applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It

is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded

to an Indicated Mineral Resource with continued exploration.

 All material mined from within the resource envelope up to the effective date of the resource

has been removed from the model.

 Wireframes were constructed to constrain lode positions based on geological mapping and

logging of workings and diamond core coupled with the use of face and dri ll core assay

results using a nominal +1 g/t Au cut-off to define the lode boundary.

 Equal length composites of 0.5m were extracted from the database for each lode. A top cut

to gold grade was applied to K2, K1 and KL1 of 100g/t. The ordinary kriging modelling

estimation method was then used with search radii of 35m and 130m for Au, Ag and Cu. At

least 3 informing values with a maximum of 12 were used to estimate each model block.

 The Resource was classified as measured if both drilling at 25m centres and workings were

present, as indicated if only drilling or workings were presented and inferred for material

15m past the last drill hole or working.

This updated resource is based on results from 70 drill holes drilled from diamond drill cuddies

1, 2 and 3 (DDC1, DDC2 and DDC3) and over 250 face samples taken from horizon tal

development along the K1, K2 and KL1 veins. The resource covers approximately 10 percent of

the target area which the Company plans to drill from underground over the coming 12 months

(see K92 news release dated June 26, 2018 for further details).

The Company anticipates completing the current initial exploration program on Kora North in

the September 2018 quarter, at which point a further resource estimate will be undertaken and

used to update the previously filed preliminary economic assessment (PEA ) which K92 filed and

made available for download on the company's SEDAR profile. The technical report containing

the PEA titled, "Independent Technical Report, Mineral Resource Update and Preliminary

Economic Assessment of Irumafimpa and Kora Gold Deposit s, Kainantu Project, Papua New

Guinea," with an effective date of March 2, 2017, provides additional information on the geology

of the deposits, drilling and sampling procedures, lab analysis, and quality assurance/quality

control for the project, and additional details on the resource estimates.

Drilling related to the resource expansion program is ongoing.

K92 Mine Geology Manager and Mine Exploration Manager, Mr. Andrew Kohler, PGeo, a

Qualified Person under the meaning of Canadian National Instrument 43 -101- Standards of

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Disclosure for Mineral Projects, has reviewed and is responsible for the technical content of this

news release. Data verification by Mr. Kohler includes significant time onsite reviewing drill

core, face sampling, underground workings and discussing work programs and results with

geology and mining personnel.

ON BEHALF OF THE COMPANY,

John Lewins

Chief Executive Officer and Director

For further information, please contact the Company at +1-604-687-7130.

K92 has a standard underground face sampling procedure in place in which face geological

mapping and channel samples are taken across the strike, at right angles to the drive walls at

intervals of approximately of 1.5m apart coinciding with the development advance of the

heading. A geologist determines the interval lengths across the face for each sample depending

on the geological character of the material. Two samples are taken per interval at waist and knee

height and the corresponding widths recorded. No greater than 1.5m intervals are allowed during

sampling. Samples are approximately 3.5kg in size. Assay for Au, Ag and Cu are averaged using

length weighting of the sample interval and then, coupled with the orientation of channel and

placed in the datab ase. Standard QAQC procedures are used for underground samples as

described in the ITR Mineral Resource Estimate and Preliminary Economic Assessment of

Irumafimpa and Kora Gold Deposits, Kainantu Project, PNG dated March 2, 2017.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATI ON SERVICES PROVIDER

(AS THAT TERM IS DEF INED IN POLICIES OF THE TSX VENTURE EXCH ANGE)

ACCEPTS RESPONSIBILI TY FOR THE ADEQUACY OR ACCURACY OF THIS

RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news

release i ncludes 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 r isks,

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 developmen ts 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 Project, expectations of

future cash flows, the proposed pl ant expansion, 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 approval s, environmental

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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 gover nment 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. Acco rdingly, 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.