K92 Mining Reports Higher Grades From Judd Underground Development and Positive Grade Reconciliations & Recoveries From Processing of Judd Bulk Sample

• Judd Vein #1 (“J1 Vein”) 1235 Level development extended to 223 metres, representing a 114 metre extension since the September 3, 2020 press release. The extension encountered notably higher-grade material, with the J1 Vein averaging 3.7 metres wide at 13.57 g/t gold equivalent (“AuEq”)⁽¹⁾ or 12.17 g/t Au, 0.79% Cu and 19 g/t Ag. High grade vein face channel samples include:
    •   5.46 metres at 109.54 g/t AuEq or 108.0 g/t Au, 0.27% Cu and 100 g/t Ag, representing our southernmost face assay to date.
    •   3.9 m thickness at 46.8 g/t AuEq or 43.3 g/t Au, 2.12% Cu and 29 g/t Ag;
    •   4.4 m thickness at 20.8 g/t AuEq or 15.1 g/t Au, 3.38% Cu and 57 g/t Ag; and
    •   4.8 m thickness at 18.6 g/t AuEq or 13.7 g/t Au, 2.87% Cu and 51 g/t Ag.
  
  
• Significant positive grade reconciliation from 4,256 tonne bulk sample batch processed from J1 Vein, returning a head grade of 6.50 g/t gold equivalent AuEq or 5.19 g/t gold, 0.82% copper and 10.9 g/t silver compared to the projected average bulk sample diluted grade of 5.57 g/t gold equivalent or 4.4 g/t gold, 0.7% copper and 10.6 g/t silver.
  
  
• Bulk sample reported good processing recoveries of 88.8% for gold, 97.5% for copper and 88.2% for silver, similar to those achieved at Kora, with potential for improvement through flowsheet optimizations.
  
  
• High grade concentrate produced from Judd of 86 g/t Au, 14.8% Cu and 178 g/t Ag, with no significant deleterious / penalty elements.
  
  

VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce that it has completed the processing of 4,256 tonnes of underground bulk sample material and also extended underground development by an additional 114 metres along the Judd 1235 Level J1 Vein underground development, within the +2.5km strike, sparsely explored Judd Vein System at the Kainantu Gold Mine in Papua New Guinea.

The Judd 1235 Level J1 Vein underground development has now been extended 114 metres since the length disclosed in the Company’s September 3, 2020 press release, to a total of 223 metres. As development advanced to the South, notably higher grade material was encountered, with an estimated 6,600 tonnes at 13.57 g/t AuEq or 12.17 g/t Au, 0.79% Cu and 19 g/t Ag of additional undiluted J1 Vein extracted and estimated from underground channel sampling. Multiple high grade faces were recorded from channel sampling, including: 5.46 m at 109.54 g/t AuEq or 108.00 g/t gold, 0.27% copper and 100 g/t silver representing our southernmost assay to date; 3.9 m thickness at 46.8 g/t AuEq or 43.3 g/t Au, 2.12% Cu and 29 g/t Ag, and; 4.4 m thickness at 20.8 g/t AuEq or 15.1 g/t Au, 3.38% Cu and 57 g/t Ag. Vein thickness averaged 3.7 metres and ranged from 2 to 6 metres.