K92 Mining Hosts Visit by State Delegation Including the Honorable James Marape, Prime Minister of Papua New Guinea, & Receives Approval of Community Development Tax Credit Scheme

VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce that on February 12, 2020, a State Delegation, including the Honorable James Marape, Prime Minister of Papua New Guinea, the Honorable Peter Numu, Governor of Eastern Highlands Province, and the Honorable Johnson Tuke, Minister for Mining and local Member of Parliament for Kainantu, met with representatives of K92. Highly productive meetings, presentations and community events were held in Goroka and Kainantu townships, followed by a site visit to K92’s Kainantu Gold Mine in Eastern Highlands Province, PNG.

In Kainantu township, K92 announced a contribution of PGK1 million (US$285k) towards building a new market to support local businesses and commerce, and the receipt of approval for a community development tax credit scheme which enhances K92’s numerous planned community development initiatives. K92 also hosted a site tour of the Kainantu Gold Mine for Prime Minister James Marape and his delegation. Following COVID-19 protocols, the aerial tour focused on mining and processing operations, infrastructure, expansion plans, exploration, communities and environmental management.

John Lewins, K92 Chief Executive Officer and Director, commented, “The Government of Papua New Guinea has been a very consistent supporter of our operations and a major factor in our ability to operate effectively during the COVID-19 pandemic environment. We are proud of what has been accomplished over the past few years at Kainantu, and especially our achievements over the past twelve months during the COVID-19 pandemic. It was truly a privilege to host Prime Minister James Marape and his delegation and provide an overview of the Kainantu Gold Mine operations and our plans for the expansion of operations going forward.

We are proud of the increased economic and employment opportunities, and community development that has occurred as Kainantu’s operations have continued to expand. Our PGK1 million contribution towards the development of a new market in Kainantu is expected to drive multiple business and commerce opportunities, and the approval of the community development tax credit scheme provides an opportunity for the Company to partner with the government to deliver much needed community infrastructure.”