K92 Mining Announces Major Operational Milestone With First Production and Official Inauguration of the Stage 3 Expansion Process Plant

VANCOUVER, British Columbia, Oct. 16, 2025 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce that it has produced its first commercial grade gold-copper-silver concentrate and plans to imminently commence shipments from its new 1.2 million tonnes per annum (“tpa”) Stage 3 Expansion process plant at its Kainantu Gold Mine in Papua New Guinea.

As part of the Official Inauguration Ceremony held on site on October 16, the Prime Minister of Papua New Guinea, the Hon. James Marape, witnessed a gold pour at the new process plant, producing 458 ounces of doré. In addition to the Prime Minister, key stakeholders attended the event, including Minister for Mining Hon. Rainbo Paita; other distinguished Ministers and Members of Papua New Guinea’s national parliament; members of Eastern Highlands Provincial Government; Heads of Government Departments and Agencies; Bilimoia Landowner Association Chairman, Busa Sio; Associated Landowners Association Chairman, Noka Tinko; and local leaders. Members of the diplomatic community, business and industry representatives, the Board of Directors of K92, project partners and industry peers were also in attendance.

The new Stage 3 Expansion Process Plant remains on track for completion of commissioning in the first half of Q4. The process plant was delivered under budget and represents the largest growth capital item for the Stage 3 Expansion, of which 90% has been spent or committed as of September 30, 2025.

John Lewins, K92 Chief Executive Officer and Director, stated, “I am very pleased to announce that the Stage 3 Expansion Process Plant has achieved its inaugural production, a major milestone for our Company, our stakeholders, and the country of Papua New Guinea. This achievement is the result of the tireless efforts and collaboration of our workforce, contractors, and partners. I commend our team for successfully bringing this major project online safely, efficiently, and under budget.

We were deeply honoured to have the Prime Minister of Papua New Guinea, the Hon. James Marape, along with the Minister for Mining, Hon. Rainbo Paita, and other senior government and community representatives attend the Official Inauguration Ceremony. Their continued partnership and support have been instrumental to the success of the Kainantu Gold Mine.

This marks an exciting chapter in K92’s history as the Company advances towards Tier-1, mid-tier producer status. Beyond celebrating this milestone, we are excited for the significant long-term benefits that the Stage 3 Expansion will deliver for our employees, communities, and all stakeholders.”