K92 Mining Announces Expansion of Near-Mine Infrastructure Dilatant Zone, High-Grade Zone Extensions and Potential New High-Grade Zone Along Strike

VANCOUVER, British Columbia, June 05, 2025 (GLOBE NEWSWIRE) -- K92 Mining Inc. ("K92” or the "Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce its latest high-grade results from the ongoing surface and underground diamond drilling of the Kora, Kora South, Judd and Judd South deposits in addition to the Kora and Judd Deeps targets at the Kainantu Gold Mine in Papua New Guinea.

• Multiple high-grade intersections with broadening widths, referred to as dilatant zones, recorded at Kora's K2 Vein. The intersections have extended the interpreted dilatant zone up-dip from the area defined in late-2024 (see Dec 3, 2024 press release). Importantly, this dilatant zone is near mine infrastructure, located approximately 100 metres from current underground workings, further expanding the potential for bulk mining near-term. The intersections were also in an area previously interpreted to be narrow vein in the mineral resource estimate (September 12, 2023 effective date, "2023 MRE”), while also recording high-grade intersections.
  • Dilatant zone highlights from the K2 Vein include:
    • KMDD0844: 12.80 m at 31.89 g/t gold equivalent ("AuEq”) (25.97 g/t Au, 58 g/t Ag, 3.35% Cu)^(1,2)
    • KMDD0843: 10.10 m at 16.29 g/t AuEq (14.01 g/t Au, 82 g/t Ag, 0.84% Cu)
  • Previously reported dilatant zone intersections down-dip of the above, highlights include⁽³⁾:
    • KMDD0752: 13.50 m at 19.02 g/t AuEq (14.93 g/t Au, 199 g/t Ag, 1.00% Cu)
    • KMDD0746: 14.40 m at 12.09 g/t AuEq (9.58 g/t Au, 54 g/t Ag, 1.15% Cu)
    • KMDD0709: 12.14 m at 5.97 g/t AuEq (4.73 g/t Au, 7 g/t Ag, 0.72% Cu)
    • KMDD0751: 9.50 m at 7.00 g/t AuEq (2.26 g/t Au, 42 g/t Ag, 2.63% Cu)

• High-grade zones within Kora's K1 and K2 veins continue to be extended up-dip from the main mine, recording multiple intersections exceeding resource model grades, including:
  • K2 Vein high-grade extension up-dip from main underground mining area:
    • KMDD0845: 12.30 m at 18.58 g/t AuEq (18.14 g/t Au, 23 g/t Ag, 0.11% Cu)
    • KMDD0830: 7.17 m at 39.50 g/t AuEq (37.93 g/t Au, 69 g/t Ag, 0.50% Cu)
    • KMDD0847: 4.00 m at 43.89 g/t AuEq (39.23 g/t Au, 72 g/t Ag, 2.44% Cu)
  • K1 Vein high-grade extension up-dip from main underground mining area:
    • KMDD0847: 4.08 m at 30.95 g/t AuEq (30.29 g/t Au, 30 g/t Ag, 0.21% Cu)
    • KMDD0828: 2.80 m at 28.67 g/t AuEq (27.91 g/t Au, 18 g/t Ag, 0.36% Cu)

• High-grade copper zone delineated to the south at the K2 Vein over a +300-metre vertical extent from the latest drilling results, with many intersections exceeding 2023 MRE AuEq grades.
  • K2 Vein high-grade copper intersection highlights include:
    • KMDD0865: 10.05 m at 12.25 g/t AuEq (0.97 g/t Au, 84 g/t Ag, 6.58% Cu)
    • KMDD0832: 21.86 m at 8.56 g/t AuEq (4.05 g/t Au, 41 g/t Ag, 2.58% Cu)
    • KMDD0771: 11.70 m at 15.85 g/t AuEq (7.43 g/t Au, 162 g/t Ag, 4.17% Cu)
    • KMDD0770: 14.50 m at 9.22 g/t AuEq (0.47 g/t Au, 47 g/t Ag, 5.24% Cu)
    • KMDD0826: 10.50 m at 9.19 g/t AuEq (4.58 g/t Au, 44 g/t Ag, 2.61% Cu)
    • KMDD0829: 10.60 m at 11.51 g/t AuEq (2.28 g/t Au, 87 g/t Ag, 5.26% Cu)
    • KMDD0835: 4.00 m at 5.70 g/t AuEq (0.54 g/t Au, 26 g/t Ag, 3.10% Cu)
    • KMDD0836: 4.14 m at 6.40 g/t AuEq (0.47 g/t Au, 37 g/t Ag, 3.52% Cu)
  • K1 Vein also recorded multiple high-grade copper intersections to the south, either outside of the 2023 MRE or at higher than 2023 MRE grades. Highlights include:
    • KMDD0825: 26.15m at 20.22 g/t AuEq (7.32 g/t Au, 165 g/t Ag, 7.01% Cu)
    • KMDD0770: 10.60 m at 5.14 g/t AuEq (0.40 g/t Au, 38 g/t Ag, 2.74% Cu)
    • KMDD0865: 4.10 m at 12.49 g/t AuEq (0.63 g/t Au, 69 g/t Ag, 7.06% Cu)

• Potential northern high-grade zone identified at the K1 Vein outside of the 2023 MRE and near-mine infrastructure. Highlights include:
  • KMDD0848: 3.90 m at 16.55 g/t AuEq (16.41 g/t Au, 5 g/t Ag, 0.05% Cu)
  • KMDD0823: 6.00 m at 6.25 g/t AuEq (6.17 g/t Au, 4 g/t Ag, 0.02% Cu)
  • KMDD0837: 2.40 m at 8.04 g/t AuEq (7.23 g/t Au, 6 g/t Ag, 0.47% Cu)

• Multiple high-grade intersections recorded at Judd's J1 Vein, continuing to extend high-grade mineralization up-dip from the main mine and extending high-grade intersections below the main mine.
  • J1 Vein intersections extending high-grade mineralization above the main mine include:
    • JDD0221: 6.10 m at 20.03 g/t AuEq (19.02 g/t Au, 7 g/t Ag, 0.59% Cu)
    • JDD0273: 3.66 m at 17.48 g/t AuEq (12.94 g/t Au, 57 g/t Ag, 2.48% Cu)
    • JDD0269: 1.70 m at 21.62 g/t AuEq (19.95 g/t Au, 19 g/t Ag, 0.93% Cu)
  • J1 Vein intersections extending high-grade mineralization below the main mine include:
    • JDD0279: 6.10 m at 11.99 g/t AuEq (8.80 g/t Au, 41 g/t Ag, 1.74% Cu)
    • JDD0294: 2.20 m at 16.13 g/t AuEq (10.00 g/t Au, 109 g/t Ag, 3.11% Cu)

(1) Drill highlights presented above are core lengths (not true widths).

(2) Gold equivalent exploration results are calculated using longer-term commodity prices with a copper price of US$4.50/lb, a silver price of US$27.50/oz and a gold price of US$2,000/oz. The following recoveries were applied in-line with the Updated Definitive Feasibility Study: Au - 92.6%, Cu - 94.0%, and; Ag - 78.0%.

(3) See December 3, 2024 press release; K92 Mining Announces Multiple New Near-Mine Infrastructure Dilatant Zones Identified and High-Grade Zones Extended.

John Lewins, K92 Chief Executive Officer and Director, stated, "The latest drilling results at Kora and Judd further reinforce the substantial potential for high-grade resource growth at Kainantu. At Kora's K2 Vein, drilling has significantly expanded the previously interpreted dilatant zone up-dip, returning broad, high-grade intercepts in areas previously interpreted as narrow vein. Importantly, this dilatant zone is located near mine infrastructure, offering meaningful near-term bulk mining potential to support the Stage 3 Expansion ramp-up.

Drilling has also continued to extend high-grade mineralization in multiple areas, with many intersections recording grades well above the 2023 mineral resource estimate at the K1, K2 and J1 veins in addition to defining a potential new high-grade zone at K1 to the north. At K2, to the south towards the A1 Porphyry, a significant high-grade copper zone with a vertical extent of over 300 metres has also been delineated - plans are in place to continue to expand this zone at higher drill density.

Regionally, our program continues to ramp-up, with plans to have five rigs operating at Arakompa in the coming weeks. We are also expanding our drill fleet further, with two additional surface drill rigs on order. We look forward to providing further updates in due course.”

The results for the latest 90 diamond drill holes completed from surface and underground are summarized in the tables below. The results continue to demonstrate the high-grade, continuity and expansion potential of the Kora-Kora South and Judd-Judd South vein systems. Intersections largely focused on increasing drill density vertically while also targeting resource extension along strike to the south and north.

All drill holes at Kora-Kora South (including Kora Deeps) intersected mineralization, with 24 intersections exceeding 10 g/t AuEq and 65 intersections exceeding 5 g/t AuEq.

At Judd-Judd South (including Judd Deeps), all drill holes intersected mineralization, with 12 intersections exceeding 10 g/t AuEq and 21 intersections exceeding 5 g/t AuEq.

Figures

Long sections of K1, K2, and J1 showing the location of the latest drill holes are provided in Figures 1, 2, and 3, respectively.

A long section showing Kora drilling to date is provided in Figure 4.

A long section showing Judd drilling to date is provided in Figure 5.

Core photographs from drill holes KMDD0830 and KMDD0777 are provided in Figure 6 and Figure 7, respectively.

Table 1

Kainantu Gold Mine - Significant Intercepts from Kora Underground Diamond Drilling