K92 Mining Provides 2020 Operational Outlook - Seite 2

Table 1 – 2020 Operational Outlook Summary

Gold Equivalent Production	Oz	110,000 to 120,000
Cash Costs(1)	$/Oz	$520 to $580 per ounce gold
All-in Sustaining Costs(1)	$/Oz	$720 to $780 per ounce gold
Growth Capital	US$	$20 to $25 million
Exploration	US$	$8 to $10 million

Note 1: The Company provides some non-international financial reporting standard measures as supplementary information that management believes may be useful to investors to explain the Company’s financial results. Please refer to non-IFRS financial performance measures of the Company’s management’s discussion and analysis dated November 12, 2019, available on SEDAR, for reconciliation of these measures.

John Lewins, K92 Chief Executive Officer and Director, stated, “2019 was a transformational year for Kainantu, exceeding our upgraded guidance while making significant progress towards our Stage 2 Expansion. In 2020, we expect to consolidate these gains, with production taking a significant step forward to over 110,000 ounces gold equivalent and achieving run-rate Stage 2 Expansion throughput by year end.

We are also very excited about our exploration programs in 2020. Three new drill rigs are set to arrive in Q2 2020, providing an increase to our rate of exploration and importantly an increase to our capacity to test new, high potential, targets.”

About K92

K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora and Kora North deposits of 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 has commenced an expansion of the mine. An updated Preliminary Economic Assessment on the property was published in January 2019. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.