K92 Mining Announces Judd Underground Development Extension Results - Average J1 Vein Grade of 18.70 g/t AuEq at 3.8 m Width

• Judd Vein #1 (“J1 Vein”) 1235 Level development extended to 288 metres, representing a 65-metre extension (“the extension”) since the November 23, 2020 press release. Development has encountered higher grades as it advances to the South, with the extension recording an average J1 Vein thickness of 3.8 metres at 18.70 g/t gold equivalent (“AuEq”)⁽¹⁾ or 17.13 g/t Au, 0.82% Cu and 37 g/t Ag from channel sampling.
  
  
• Mineralization style from development drive continues to be intrusive related, gold-copper-silver, and similar to Kora. Since higher grades were first encountered in September 2020, the latest 179 metres of development has recorded an average J1 Vein thickness of 3.7 metres at 15.39 g/t AuEq or 13.99 g/t Au, 0.80% Cu and 26 g/t Ag from channel sampling.
  
  
• The development drive extension reported solid geotechnical competency, multiple high-grade faces and a significant 65% of faces recording average J1 Vein grades of +10 g/t AuEq from channel sampling. J1 Vein channel sampling results, include:
  
  ◦ 2.5m thickness at 79.42 g/t AuEq or 77.45 g/t Au, 0.57% Cu and 96 g/t Ag;
  ◦ 4.5m thickness at 52.84 g/t AuEq or 50.98 g/t Au, 0.76% Cu and 67 g/t Ag;
  ◦ 5.0m thickness at 24.44 g/t AuEq or 23.44 g/t Au, 0.48% Cu and 28 g/t Ag;
  ◦ 3.5m thickness at 21.41 g/t AuEq or 18.56 g/t Au, 1.40% Cu and 78 g/t Ag;
  ◦ 4.5m thickness at 18.22 g/t AuEq or 16.17 g/t Au, 1.19% Cu and 36 g/t Ag, and;
  ◦ 5.6m thickness at 19.35 g/t AuEq or 15.67 g/t Au, 2.10% Cu and 69 g/t Ag;

• 65-metre drive extension is ~50 metres below hole JDD0006, which recorded 7.25 m at 256.09 g/t Au, 113 g/t Ag and 0.42% Cu (258.01 g/t AuEq) on J1 Vein (see November 9, 2020 Press Release – K92 Mining Announces Initial Phase 1 High-Grade Judd Vein System Drilling Results, Including 7.25m at 258.01 g/t AuEq).

⁽¹⁾ Gold equivalent (AuEq) exploration results is calculated using longer term commodity prices with a copper price of US$3.10/lb, silver price of US$20.50/oz and gold price of US$1,600/oz.

VANCOUVER, British Columbia, Jan. 25, 2021 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce that it has extended underground development towards the South by an additional 65 metres along the Judd 1235 Level J1 Vein, within the +2.5km strike, sparsely explored Judd Vein System at the Kainantu Gold Mine in Papua New Guinea.