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K92 Mining Inc. (KNTNF)

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Market Cap1.209B
Beta (5Y Monthly)1.40
PE Ratio (TTM)27.05
EPS (TTM)0.21
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    • K92 Mining Inc. to Announce Third Quarter 2020 Financial Results on November 16, 2020: Conference Call Details
      GlobeNewswire

      K92 Mining Inc. to Announce Third Quarter 2020 Financial Results on November 16, 2020: Conference Call Details

      VANCOUVER, British Columbia, Oct. 27, 2020 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) announces that it will release its third quarter 2020 financial results before the North American markets open on Monday, November 16, 2020. Conference Call and Webcast to Present ResultsK92 will host a conference call and webcast to present the third quarter 2020 consolidated financial results at 8:30 am (EST) on Monday, November 16, 2020. * Listeners may access the conference call by dialing toll-free to 1-800-319-4610 within North America or +1-604-638-5340 from international locations. ° The conference call will also be broadcast live (webcast) and may be accessed via the following link: http://services.choruscall.ca/links/k92mining20201116.html About K92K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora deposit 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.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 DirectorFor further information, please contact David Medilek, P.Eng., CFA at +1-604-687-7130.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.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 events 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 Project, 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 mining 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.

    • K92 Mining Announces Maiden Karempe Vein System Drilling Results and High-Grade Epithermal Vein Mineralization
      GlobeNewswire

      K92 Mining Announces Maiden Karempe Vein System Drilling Results and High-Grade Epithermal Vein Mineralization

      Figure 1 Kainantu Vein Field plan view, showing location of the Karempe vein system relative to Kora and Judd vein systems plus Karempe drill traces and rock chip sampling. Figure 2 Karempe vein system cross section. Figure 3 Karempe Vein System plan map of area drilled by K92 Figure 4 KRDD0005 Core Photograph, 237.30 - 240.83m. Massive sulphide / quartz vein in sericite altered diorite; downhole interval returned 2.45m at 39.82 g/t Au, 6 g/t Ag, 0.19% Cu (40.18 g/t AuEq), including 0.75m at 125.4 g/t Au, 12 g/t Ag, 0.13% Cu (125.75 g/t AuEq). Figure 5 KRDD0006 Core Photograph, 300.06 - 303.70m. Massive sulphide / quartz vein in altered diorite host; downhole interval returned 3.20 m at 17.5 g/t Au, 20 g/t Ag, 0.34% Cu (18.28 g/t AuEq), including 1.6m at 26.58 g/t Au, 38 g/t Ag, 0.66% Cu (28.07 g/t AuEq). Figure 6 KRDD0005 Core Photograph, 239.7m. Macro photo of massive pyrite-chalcopyrite intergrown with crystalline quartz; part of 0.75 m interval which returned 125.4 g/t Au. * Results reported for the first six holes drilled by K92 of the largely untested Karempe vein system. Drilling has delineated a well mineralized vein system, intersecting five parallel veins, trending North-South, sub-parallel and ~450m West of the producing Kora deposit.   * Multiple high-grade intersections reported on the KA1 Vein, including hole KRDD0005 recording 2.45 m at 39.82 g/t Au, 6 g/t Ag and 0.19% Cu (40.18 g/t AuEq).   * KRDD0006 recorded multiple intersections including 3.20 m at 17.50 g/t Au, 20 g/t Ag and 0.34% Cu (18.28 g/t AuEq) on the KA1 vein, ~100m down-dip from the high-grade KRDD0005 KA1 vein intersection.   * KA2 vein also encountered significant mineralization, including KRDD0002 recording 1.60 m at 8.61 g/t Au, 3 g/t Ag and 0.06% Cu (8.74 g/t AuEq).   * Mineralization is an intrusive related Au-Cu-Ag epithermal vein system, similar to Kora, open to depth and mapped over 2 km of strike. The interpreted strike length is supported by rock chip sampling, three historical drill holes and K92’s recent drilling.VANCOUVER, British Columbia, Oct. 22, 2020 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce results of the first six drill holes completed by K92 on the Karempe Vein System at the Kainantu gold mine in Papua New Guinea. The Karempe Vein System is located near-mine infrastructure, subparallel to and ~450m West from the producing Kora deposit.To date, five known veins have been recorded at Karempe, with similar vein orientation and intrusive related Au-Cu-Ag mineralization as Kora. The veins are essentially quartz and massive pyrite, and more localized chalcopyrite hosted within competent diorite. The veins remain open to depth and only a fraction of the over 2,000 m strike length, documented by mapping and rock chip sampling, has been drill tested. A total of six diamond drill holes were reported at Karempe, with intersections recorded in multiple veins. The results are highlighted by the KA1 Vein, with KRDD0005 recording 2.45 m at 39.82 g/t Au, 6 g/t Ag and 0.19% Cu (40.18 g/t AuEq, 2.30 m true width), including 0.75 m at 125.40 g/t Au, 12 g/t Ag, 0.13% Cu (125.75 g/t AuEq, 0.68 m true width). Approximately 100m down-dip from KRDD0005, along the KA1 Vein, hole KRDD0006 recorded 3.20 m at 17.50 g/t Au, 20 g/t Ag and 0.34% Cu (18.28 g/t AuEq, 2.45 m true width), including 1.60 m at 26.58 g/t Au, 38 g/t Ag, 0.66% Cu (28.07 g/t AuEq, 1.19 m true width). Both holes recorded mineralization that is invariably associated with massive sulphide (pyrite-chalcopyrite) and crystalline quartz, encapsulated within broad zones of strong sericite alteration.Drilling also recorded significant mineralization along the KA2 Vein, highlighted by KRDD0002 recording 1.60 m at 8.61 g/t Au, 3 g/t Ag and 0.06% Cu (8.74 g/t AuEq, 1.31 m true width). The KRDD0002 intersection was reported ~100m to the south along strike from KRDD0005. There are currently two drill rigs at Karempe and through the remainder the year, drilling plans to target both down-dip and strike extensions.(Gold Equivalent (AuEq) is calculated using copper price of US$3.05/lb, silver price of US$16.05/oz and gold price of US$1,400/oz.)Chris Muller, K92 Vice President Exploration, stated, “The maiden drill program at Karempe has unveiled an impressive vein system comprising multiple, continuous gold mineralized structures that resemble Kora mineralization. Karempe has approximately 2km of strike length, as demonstrated by surface mapping, and limited drill testing. Together with Kora and Judd, epithermal veins comprising, and proximal to, the Kainantu Gold Mine represent a significant gold/copper mineralized vein field.”John Lewins, K92 Chief Executive Officer and Director, also added, “With only approximately 20% of the mapped vein field strike length tested and the areas already tested being largely open at depth, the results at Karempe highlight the strong exploration potential at Kainantu. By the end of this year, we plan to have 10 drill rigs on site; 5 underground drill rigs and 5 surface drill rigs, drilling the Karempe, Kora, Kora South and Judd vein systems plus the Blue Lake porphyry concurrently. We expect to increase the number of drill rigs in 2021.”Karempe Vein System BackgroundThe Karempe vein system was originally recognized by field mapping in the early 1990’s.  Highlands Gold Limited (“HGL”) drilled two holes targeting the Karempe system in 1994; 021BD94 (to 230.5m) which returned 0.9m at 8.5 g/t Au, 57 g/t Ag, 1.32 % Cu and 098BD05 which was terminated at just 49.9m. Barrick drilled one hole, BKDD0025 in October 2009 which returned a number of significant gold/copper intercepts, just prior to the cessation of the mining lease (ML150) drill program. No other drill holes have tested the Karempe vein system and no targeted program was carried out until K92 commenced drilling Karempe in March 2020. Exploration was suspended for ~3 months during the COVID-19 State of Emergency and detailed mapping/sampling and drilling resumed in late June.See Figure 1 for location map of the Karempe Vein target, existing mine infrastructure and other proximal interpreted veins.See Figure 2 for cross section of the Karempe Vein System with holes KRDD0005 and KRDD0006.See Figure 3 for plan view of the area drilled by K92 at the Karempe Vein System.See Figure 4 for drill core photograph of KRDD0005, 237.30 - 240.83 m. Massive sulphide / quartz vein in sericite altered diorite; downhole interval returned 2.45 m at 39.82 g/t Au, 6 g/t Ag, 0.19% Cu (40.18 g/t AuEq), including 0.75 m at 125.4 g/t Au, 12 g/t Ag, 0.13% Cu (125.75 g/t AuEq).See Figure 5 for drill core photograph of KRDD0006, 300.06 - 303.70 m. Massive sulphide / quartz vein in altered diorite host; downhole interval returned 3.20 m at 17.5 g/t Au, 20 g/t Ag, 0.34% Cu (18.28 g/t AuEq), including 1.6m at 26.58 g/t Au, 38 g/t Ag, 0.66% Cu (28.07 g/t AuEq).See Figure 6 for drill core photograph of KRDD0005, 239.7m. Macro photo of massive pyrite-chalcopyrite intergrown with crystalline quartz; part of 0.75 m interval which returned 125.4 g/t Au.Table 1 - Kainantu Gold Mine – Significant Intercepts from Diamond Drilling at KarempeHole_idFrom (m)To (m)Interval (m)True width (m)Gold g/tSilver g/tCopper %Gold equivalentVein_Id KRDD0001172.2172.90.710.411.41312.946.31HWS Including172.2172.50.340.192.23495.2910.95HWS Including172.5172.90.370.210.66150.792.06HWS KRDD0001207.4214.16.663.801.98110.613.06KA1 Including207.4207.70.300.171.01424.889.01KA1 Including207.7208.30.520.300.60130.451.46KA1 Including208.3209.00.740.670.1630.110.36KA1 Including209.0209.90.900.820.0620.110.26Ka1 Including209.9211.01.100.632.17231.324.49KA1 Including211.0211.30.300.170.3660.391.03KA1 Including211.3212.31.020.585.45150.546.46KA1 Including212.3212.90.610.550.0920.010.13KA1 Including212.9213.50.540.490.6260.060.79KA1 Including213.5214.10.630.366.2760.066.44KA1 KRDD0001278.0284.06.003.420.3630.200.70KN1 Including278.0279.01.000.570.6180.741.84KN1 Including279.0280.01.000.570.1020.170.39KN1 Including280.0281.31.280.910.0110.010.04KN1 Including281.3282.10.800.570.0610.020.10KN1 Including282.1282.90.820.471.6420.121.84KN1 Including282.9284.01.100.630.0520.140.29KN1 KRDD0001288.9291.02.131.212.0220.092.17Splay Including288.9290.01.130.640.0410.110.22Splay Including290.0291.01.000.574.2520.064.37Splay KRDD0001357.2360.83.602.050.0290.080.26KN2 Including357.2358.20.950.540.0220.040.10KN2 Including358.2359.00.850.480.0120.040.10KN2 Including359.0360.81.801.030.03150.130.42KN2 KRDD0001459.7462.32.571.470.4320.611.39KA2 KRDD000232.237.24.963.800.5210.010.55Splay Including32.232.60.360.280.65270.031.03Splay Including32.633.20.600.460.2480.060.43Splay Including33.234.81.571.200.0120.010.05Splay Including34.837.22.431.860.2380.030.38Splay KRDD0002224.9233.08.105.210.3190.030.46Splay Including224.9226.31.370.880.65270.031.03Splay Including226.3227.51.230.790.2480.060.43Splay Including227.5229.01.500.960.0120.010.05Splay Including229.0231.22.201.410.2380.030.38Splay Including231.2231.90.700.450.4130.010.47Splay Including231.9233.01.100.710.4720.010.51Splay KRDD0002183.0183.60.640.410.1040.080.28HWS KRDD0002243.3246.83.503.291.7050.091.91KA1 Including243.3244.00.700.401.1930.882.57KA1 Including244.0244.70.740.420.9851.182.85KA1 Including244.7246.01.260.720.2930.040.39KA1 Including246.0246.80.800.465.03110.155.40KA1 KRDD0002267.8268.91.100.780.0410.010.07Splay KRDD0002282.6287.44.754.460.1120.080.26KN1 including282.6284.31.661.560.0420.020.09KN1 including284.3285.91.641.540.0420.010.09KN1 including285.9286.60.700.660.0120.030.07KN1 including286.6287.40.750.700.4820.431.16KN1 KRDD0002380.1382.82.701.550.0420.130.26KN2 KRDD0002484.0485.61.601.318.6130.068.74KA2 KRDD0002533.6535.62.031.163.9860.314.53KA3 KRDD0003237.9241.13.251.631.8560.062.01HWS including237.9239.71.850.920.0110.020.06HWS including239.7240.10.350.1816.86430.3617.96HWS including239.7240.10.350.1816.86430.3617.96HWS including240.1241.11.050.520.0810.040.15HWS KRDD0003254.0255.21.251.212.3010.012.33KA1 KRDD0003315.7320.44.654.030.2620.060.38KN1 Including315.7315.90.200.172.5510.032.61KN1 Including315.9318.12.201.910.2221.031.83KN1 Including318.1319.51.401.210.0422.033.18KN1 Including319.5319.70.200.170.5953.035.29KN1 Including319.7320.40.650.560.0730.080.23KN1 KRDD0003490.1492.01.891.080.0410.010.07KN2 Including490.1490.80.740.420.0220.040.10KN2 Including490.8491.50.650.370.0510.010.06KN2 Including491.5492.00.500.290.0510.010.06KN2 KRDD0003530.1531.11.000.500.7360.311.28Splay Including530.1530.80.670.330.0130.080.17Splay Including530.8531.10.330.172.19130.773.53Splay KRDD0004162.0162.70.700.492.781760.676.04Splay KRDD0004260.1260.70.570.541.1930.882.57HWS KRDD0004277.0285.48.437.920.9040.271.37KA1 Including277.0277.40.430.400.4620.100.64KA1 Including277.4278.81.411.321.6330.402.28KA1 Including278.8280.01.191.120.3130.210.67KA1 Including280.0281.31.301.220.2450.370.87KA1 Including281.3282.30.960.900.6130.100.79KA1 Including282.3283.00.740.700.6150.311.15KA1 Including283.0284.01.000.940.6950.231.11KA1 Including284.0284.40.350.331.44160.372.21KA1 Including284.4285.41.050.992.0630.272.51KA1 KRDD0004339.2344.25.031.811.16160.121.54KN1 Including339.2340.41.230.442.13160.112.51KN1 Including340.4342.01.600.580.1540.070.30KN1 Including342.0342.40.400.140.2910.010.32KN1 Including342.4343.91.460.531.66360.202.43KN1 Including343.9344.20.340.121.2470.101.48KN1 KRDD0004416.3416.60.350.153.9740.184.29Splay KRDD0004420.9426.96.055.482.4020.062.52KN2 Including420.9422.01.151.040.4010.070.51KN2 Including422.0422.80.800.7315.9760.1816.31KN2 Including422.8423.10.300.270.1610.000.18KN2 Including423.1423.80.700.630.3710.010.40KN2 Including423.8425.51.701.540.2120.050.31KN2 Including425.5426.30.800.730.2810.050.37KN2 Including426.3426.90.600.540.6710.030.72KN2 KRDD000522.926.83.902.510.87210.041.20Splay Including22.924.61.701.090.53220.040.87Splay Including24.625.81.200.770.49190.040.79Splay Including25.826.81.000.641.91200.042.23Splay KRDD0005215.5216.30.850.331.0450.101.26Splay Including215.5215.80.300.231.0840.101.28Splay Including215.8216.30.550.100.9670.111.22Splay KRDD0005200.4204.64.203.441.85150.612.97HWS Including200.4200.80.400.334.9450.135.21HWS Including200.8201.20.400.3310.891185.1120.21HWS Including201.2203.22.001.640.5850.210.96HWS Including203.2203.60.400.330.1640.070.32HWS Including203.6203.90.300.250.3220.020.37HWS Including203.9204.60.700.570.1620.020.21HWS KRDD0005238.7241.12.452.3039.8260.1940.18KA1 Including238.7238.90.200.190.48111.162.40KA1 Including238.9239.00.150.140.7510.040.83KA1 Including239.0239.80.750.68125.40120.13125.75KA1 Including239.8241.01.251.130.2610.050.35KA1 Including241.0241.10.100.0929.83120.6230.92KA1 KRDD0005241.7242.71.000.980.8440.181.17Splay KRDD0005285.3290.24.904.830.0310.010.05KN1 Including285.3286.00.700.690.0220.020.08KN1 Including286.0287.71.701.670.0110.010.03KN1 Including287.7288.60.850.840.0310.010.04KN1 Including288.6290.21.651.620.0410.010.06KN1 KRDD0005376.4378.42.050.870.0110.010.02KN2 Including376.4377.10.700.300.0110.010.03KN2 Including377.1378.41.350.570.0110.010.02KN2 KRDD0005451.8455.94.053.810.5160.090.72KA2 Including451.8452.00.200.195.03350.125.66KA2 Including452.0452.40.350.330.46100.331.10KA2 Including452.4452.80.450.420.0220.160.30KA2 Including452.8453.00.200.191.0760.081.27KA2 Including453.0453.60.600.560.1210.010.15KA2 Including453.6454.50.900.850.0210.000.04KA2 Including454.5455.30.750.700.2530.060.39KA2 Including455.3455.90.600.560.64130.151.03KA2 KRDD0005501.8502.00.200.153.43120.314.06KA3 KRDD0006123.5125.21.700.985.1610.015.18Splay KRDD0006221.2224.12.952.090.86173.005.66Splay KRDD0006236.6241.54.954.491.50151.263.61HWS Including236.6237.50.900.821.34333.046.41HWS Including237.5237.70.200.180.19100.180.59HWS Including237.7238.40.700.635.77474.6613.50HWS Including238.4238.80.450.410.5980.231.04HWS Including238.8240.01.201.091.1630.041.26HWS Including240.0241.00.950.860.1530.030.23HWS Including241.0241.20.200.181.0120.021.07HWS Including241.2241.50.350.320.3620.020.41HWS KRDD0006300.3303.53.202.4517.50200.3418.28KA1 Including300.3301.91.601.1926.58380.6628.07KA1 Including301.9302.91.050.800.2110.010.24KA1 Including302.9303.50.600.4624.3250.1024.53KA1 KRDD0006311.6312.61.000.872.6930.243.10Splay Table 2 - Kainantu Gold Mine – Collar Locations for Karempe Diamond DrillingHole_IDEasting (AGD66)Northing (AGD66)Easting (Local)Northing (Local)mRLBearing (AMG)Bearing (Local)InclinationDepth (m) KRDD0001374394931766829221.0159102.3416502267-55500.3 KRDD0002374408931766029225.2559086.78165876121-55550.9 KRDD0003374394931766829221.0159102.3416503176-69560.4 KRDD0004374408931766029225.2559086.78165876121-63525.4 KRDD0005374394931766929221.7159103.05165356101-55539.7 KRDD0006374408931766029225.2559086.7816585196-68335.7 (1) Gold Equivalent in Table 1 uses copper price of US$3.05/lb; silver price of US$16.05/oz and gold price of US$1,400/oz.Table 3 – Global Kora Mineral Resource (Effective Date April 2, 2020) TonnesGoldSilverCopperAuEq  mtg/tmozg/tmoz%ktg/tmoz Measured0.6613.340.2811.60.250.513.414.140.3 Indicated2.478.440.6716.31.290.6315.69.460.8 Total M&I3.139.470.9515.31.540.611910.451.1 Inferred12.677.322.9819.98.111.1139.49.013.7 * Mineral Resource Estimate is included in a technical report titled, “Independent Technical Report, Mineral Resource Estimate Update and Preliminary Economic Assessment for Expansion of the Kainantu Mine to Treat 1 Mtpa from the Kora Gold Deposit, Kainantu Project, Papua New Guinea” with an effective date of April 2, 2020. * The Independent and Qualified Person responsible for the Mineral Resource Estimate is Simon Tear, P.Geo. of H & S Consultants Pty. Ltd., Sydney, Australia. * Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. * Resources were compiled at 1,2,3,4,5,6,7,8,9 and 10 g/t gold cut-off grades. * Density (t/m3) is on a per zone basis, K1 and Kora Link: 2.84 t/m3; K2: 2.93 t/m3; Waste: 2.8 t/m3 * Reported tonnage and grade figures are rounded from raw estimates to reflect the order of accuracy of the estimate. * Minor variations may occur during the addition of rounded numbers. * Calculations used metric units (metres, tonnes and g/t) * Gold equivalents are calculated as AuEq = Au g/t + ((0.923 x Cu%)*1.38)+ ((0.77 x Ag g/t*0.0115). Gold price US$1,400/oz; Silver US$16.05/oz; Copper US$3.05/lb. Metal payabilities and recoveries are incorporated into the AuEq formula. Recoveries of 92.3% for copper and 77% for silver.Qualified PersonK92 mine geology manager and mine exploration manager, Andrew Kohler, PGeo, a qualified person under the meaning of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and is responsible for the technical content of this news release. About K92K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora deposit 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.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 DirectorFor further information, please contact David Medilek, P.Eng., CFA at +1-604-687-7130.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.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 events 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 Project, 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 mining 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.Figure 1 – Kainantu Vein Field plan view, showing location of the Karempe vein system relative to Kora and Judd vein systems plus Karempe drill traces and rock chip sampling is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/efee88a6-a4b9-44dd-9e9f-073da09e7d5a Figure 2 – Karempe vein system cross section is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0a5bebc1-bfe0-4b77-b3f3-6a6c5a505c3b Figure 3 – Karempe Vein System plan map of area drilled by K92 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/64ac6249-3559-42b7-8fef-6457871a7484 Figure 4 – KRDD0005 Core Photograph, 237.30 - 240.83m. Massive sulphide / quartz vein in sericite altered diorite; downhole interval returned 2.45m at 39.82 g/t Au, 6 g/t Ag, 0.19% Cu (40.18 g/t AuEq), including 0.75m at 125.4 g/t Au, 12 g/t Ag, 0.13% Cu (125.75 g/t AuEq) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/14eeb028-96e4-4390-9a81-057a5018fdb5 Figure 5 – KRDD0006 Core Photograph, 300.06 - 303.70m. Massive sulphide / quartz vein in altered diorite host; downhole interval returned 3.20 m at 17.5 g/t Au, 20 g/t Ag, 0.34% Cu (18.28 g/t AuEq), including 1.6m at 26.58 g/t Au, 38 g/t Ag, 0.66% Cu (28.07 g/t AuEq) is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/292d733c-bb30-4e33-b406-97228af18d3b Figure 6 – KRDD0005 Core Photograph, 239.7m. Macro photo of massive pyrite-chalcopyrite intergrown with crystalline quartz; part of 0.75 m interval which returned 125.4 g/t Au is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c260f82b-b5ca-413d-af86-aeb548618a4c

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