K92 MINING INC - KNTNF STOCK NEWS

K92 Mining reported significant drilling results from Kora South and Judd South at the Kainantu gold mine in Papua New Guinea. Hole KUDD0001 intersected multiple high-grade zones, including 15.25 m at 15.87 g/t AuEq and a notable dilatant zone of 66.55 m at 5.02 g/t AuEq. Hole KUDD0002 also showed strong results with intersections like 6.20 m at 17.26 g/t AuEq and 0.93 m at 36.39 g/t AuEq. The company completed an airborne geophysics program, revealing extensive untested potential and confirming the mineralization trends extend further south than previously known. These findings are crucial for K92’s future drilling campaigns.

K92 Mining expects significant growth in its 2022 operational outlook, projecting up to a 34% increase in gold equivalent production to 115,000 to 140,000 ounces. Cash costs are forecasted at $560-$640 per ounce gold, while all-in sustaining costs (AISC) are estimated at $890-$970 per ounce. The company plans to invest $12-$15 million in exploration activities, and growth capital costs are projected at $41-$47 million, supporting expansions and infrastructure upgrades.

K92 Mining achieved record production at its Kainantu Gold Mine in Q4 2021, totaling 36,145 oz of AuEq, which included 33,220 oz of gold, exceeding guidance. The annual total reached 104,196 oz AuEq. Significant material movement of 99,713 tonnes processed marked a 45% increase from Q4 2020. The quarter saw high recoveries of 92.8% for gold and 92.9% for copper, with continuous improvements expected from the gravity circuit integration. Notably, development of the Judd #1 Vein has been successful, enhancing operational flexibility and throughput.

K92 Mining has reported significant underground drilling results from the Kora deposit at the Kainantu gold mine, Papua New Guinea. The recent 50 drill holes showcased high-grade mineralization, with notable intersections such as:

• KMDD0415: 7.51 m at 192.92 g/t AuEq
• KMDD0312: 7.60 m at 41.91 g/t AuEq
• KMDD0441: 12.65 m at 36.54 g/t AuEq

All drill holes intersected mineralization, indicating strong continuity and resource expansion potential. This data will be included in the upcoming resource update and supports ongoing exploration and expansion plans.

K92 Mining Inc. (KNTNF) reported strong financial results for Q3 2021, achieving record production levels. Key highlights include:

• Quarterly revenue of $35.4 million, with a net income of $4.9 million.
• Record quarterly tonnage of 87,621 tonnes treated, a 35% increase from Q3 2020.
• Gold equivalent production of 24,122 oz.
• Strong cash position of $55 million as of September 30, 2021.
• COVID-19 challenges impacted costs, increasing cash costs to $670-$720 per ounce.
• Expansion plans approved to increase throughput by 25% by Q3 2022.

K92 Mining Inc (TSX: KNT; OTCQX: KNTNF) held its 2021 annual general and special meeting (AGM) virtually on October 28, 2021. A total of 145,080,169 common shares, representing 65.23% of the outstanding shares, were voted. All eight director nominees were elected, with R. Stuart (Tookie) Angus receiving 90.33% approval. Other resolutions passed included setting the number of directors to eight, re-appointing PricewaterhouseCoopers LLP as auditor, adopting the Share Compensation Plan, and adopting new Articles for the Company. For detailed results, documents are available on K92’s website and SEDAR.

K92 Mining announced significant progress in the development of the Judd Vein System at its Kainantu Gold Mine in Papua New Guinea. A total of 211 metres of high-grade mineralization was recorded, with an average grade of 21.69 g/t AuEq. The northern extension measured 97 metres at 18.29 g/t AuEq, while the southern extension spanned 114 metres at 24.44 g/t AuEq. Notably, 26% of sampled faces yielded grades exceeding 10 g/t AuEq, demonstrating strong mineralization potential. Long hole drilling has commenced, with first production expected in Q4, enhancing operational flexibility.

K92 Mining Inc. (KNTNF) will release its 2021 third quarter financial results on November 15, 2021, before North American markets open. A conference call and webcast will follow at 8:30 am EST on the same day. K92 operates the Kainantu Gold Mine in Papua New Guinea, producing gold, copper, and silver since declaring commercial production in February 2018. The company is financially strong and is working on an expansion based on previous economic assessments.