K92 Mining Announces the Passing of Board Member, Graham Wheelock

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VANCOUVER, British Columbia, May 05, 2025 (GLOBE NEWSWIRE) — K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) announces with tremendous sadness the passing of our fellow director and colleague, Graham Wheelock. Graham served on K92’s Board of Directors continuously from February 2016, having been appointed to the Board of K92 when the Company first began trading in 2016.

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Graham’s extensive mining career as a geologist and mining professional spanned over 40 years working for international mining companies. Graham was a person of integrity and ability, and was an integral part of the success and transformation of K92. In 2005, he co-founded Gem Diamonds Limited (“Gem Diamonds”). He helped manage Gem Diamonds’ initial public offering in 2007, when the company was listed on the London Stock Exchange with a market capitalization of £600 million. Following Gem Diamonds, Graham was Project Manager and former Managing Director of Polynatura Corp., the company developing the Ochoa Fertilizer project in New Mexico, USA. Graham also worked with Anglo American plc and De Beers as a gold and diamonds geologist and manager. He also spent time as Acting General Manager for De Beers Namaqualand Mines in South Africa, responsible for 2,300 employees and annual production of 4.5 million tons.

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John Lewins, K92 Chief Executive Officer and Director, stated, “Graham’s passing is a profound loss for all of us at K92. He brought not only a remarkable depth of technical expertise and industry knowledge, but also a genuine passion for the work we do and the stakeholders we serve.

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Graham was a thoughtful and principled leader, whose strategic insight earned the respect of everyone around him. His contributions extended well beyond the boardroom, and his mentorship has had a lasting impact throughout the Company. We will miss his wisdom, his calm presence, and his sincere dedication to K92’s mission. Our thoughts and heartfelt sympathies are with his family during this difficult time.”

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The Company will continue to be supported by the directors, led by Anne Giardini, KC, Chair.

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About K92

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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, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing plant expansions. 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.

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On Behalf of the Company,

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John Lewins, Chief Executive Officer and Director

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For further information, please contact David Medilek, P.Eng., CFA, President and Chief Operating Officer at +1-604-416-4445

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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements include, without limitation: (i) the results of the Kainantu Mine Definitive Feasibility Study, including the Stage 3 Expansion, a new standalone 1.2 mtpa process plant and supporting infrastructure; (ii) statements regarding the expansion of the mine and development of any of the deposits; (iii) the Kainantu Stage 4 Expansion, operating two standalone process plants, larger surface infrastructure and mining throughputs; and (iv) the potential extended life of the Kainantu Mine.

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All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors, many of which are beyond our ability to control, that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, without limitation, Public Health Crises, including the epidemic or pandemic viruses; changes in the price of gold, silver, copper and other metals in the world markets; fluctuations in the price and availability of infrastructure and energy and other commodities; fluctuations in foreign currency exchange rates; volatility in price of our common shares; inherent risks associated with the mining industry, including problems related to weather and climate in remote areas in which certain of the Company’s operations are located; failure to achieve production, cost and other estimates; risks and uncertainties associated with exploration and development; uncertainties relating to estimates of mineral resources including uncertainty that mineral resources may never be converted into mineral reserves; the Company’s ability to carry on current and future operations, including development and exploration activities at the Arakompa, Kora, Judd and other projects; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the Stage 4 Expansion; the ability of the Company to achieve the inputs the price and market for outputs, including gold, silver and copper; failures of information systems or information security threats; political, economic and other risks associated with the Company’s foreign operations; geopolitical events and other uncertainties, such as the conflicts in Ukraine, Israel and Palestine; compliance with various laws and regulatory requirements to which the Company is subject to, including taxation; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions, including relationship with the communities in Papua New Guinea and other jurisdictions it operates; other assumptions and factors generally associated with the mining industry; and the risks, uncertainties and other factors referred to in the Company’s Annual Information Form under the heading “Risk Factors”.