K92 Mining Announces Imminent Resumption of Underground Operations

VANCOUVER, British Columbia, April 08, 2024 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQB:  KNTNF) announces that it has commenced preparations to resume underground operations within two days, following the receipt of a letter from the Mineral Resources Authority (“MRA”) of Papua New Guinea vacating the Form 29 that was issued on March 13, 2024 (see March 19, 2024 Press Release).

The receipt of the letter vacating Form 29, follows a presentation by an Independent Safety Auditor to the MRA. Findings from the audit indicated that the Underground Safety Management Plan is good, conforms to criteria in ISO45001 and has been implemented. The Safety Auditor also did not find any substandard document, process or system, and noted that the Underground Safety Management Plan is comparable to other operations in Australia and Asia.

John Lewins, Chief Executive Officer and Director stated, “Safety is, has and always will be K92’s number one priority, and I am pleased with the results of the Independent Safety Audit which are also a reflection of the significant investment and focus by the team on site, which has further intensified since mid-2023.

While we are pleased with the positive safety audit findings, I want to emphasize that K92 is always proactively striving for better and will continue to relentlessly pursue its goal of zero harm.”

The Company reiterates its 2024 Operational Guidance, and notes that the temporary suspension of underground operations since March 10, 2024 will have a moderate impact on Q1 and Q2 production.

About K92

K92 Mining Inc. is engaged in the production of gold, copper and silver 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. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.