VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 22, 2016) - K92 Mining Inc. (TSX VENTURE:KNT) ("K92" or the
"Company") was selected for a Technical Disclosure Review by the British Columbia Securities Commission ("BCSC").
As a result of this review by the BCSC, K92 is issuing the following news release to clarify our Technical Report disclosure
for the Kainantu Project.
Acting jointly with the author of the Company's "Independent Technical Report, Preliminary Economic Assessment of Irumafimpa
and Kora Gold Deposits, Kainantu Project, Papua New Guinea" by Anthony Woodward, Nolidan Mineral Consultants on November 27, 2016
(the "Report"), the Company has reviewed the deficiencies identified in a Technical Disclosure Review, and will be updating
and amending the Report in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI
43-101").
K92 does not expect changes to the resource estimates provided in the prior Report and no changes in the pre-tax NPV. However,
a post-tax NPV will be included in the amended report. When K92 acquired the Kainantu Project, it acquired significant tax losses
and these losses and other related factors will be considered and utilized in the preparation of the after-tax NPV.
K92 intends to amend and file an updated Report in accordance with NI 43-101 as soon as possible, and until the amended Report
is filed, the previously filed Report should not be relied upon.
On behalf of the company,
Ian Stalker, Chief Executive Officer and Director
K92 Mining Inc.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other
factors which may cause the actual results and future events to differ materially from those expressed or implied by such
forward-looking statements. All statements that address future plans, activities, events or developments that the Company
believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the
realization of the preliminary economic analysis for Kora, expectations of future cash flows, the expected results of the
Company's resources and after-tax Net Present Value analysis to be included in the amended Report, the proposed plant expansion,
potential expansion of resources and the generation of further drilling results which may or may not occur. Forward-looking
statements and information contained herein are based on certain factors and assumptions regarding, among other things, the
market price of the Company's securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future
exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals,
environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour
disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local
government regulation of mining operations, and regulations and other matters.. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as required by law.