VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 26, 2017) -
- 436 rock chip samples and 152 soil samples taken in initial field work program
- high grade gold, silver and copper assays in chip samples taken from area with coincident soil and geophysical
anomaly
- very large, widespread hydrothermal alteration footprint evident
K92 Mining Inc. ("K92") (TSX VENTURE:KNT)(OTCQB:KNTNF) is pleased to report that field work in the Blue Lake area of EL470 has
resulted in the identification of a new, highly prospective exploration area.
At Blue Lake (Pomasi), K92 has identified Au/Ag/Cu mineralisation and hydrothermal alteration typical of that encountered in a
high sulphidation epithermal system.
In Papua New Guinea, both currently known high sulphidation Au/Cu bearing deposits are adjacent to world class Au/Cu
porphyries, being Nena to Freida Horse-Ivaal at the PanAust Frieda River Project and Wafi to Golpu at the Morobe Mining Joint
Venture between Newcrest and Harmony.
During field work at Blue Lake, K92 identified mineralised Au bearing vuggy silica and Au/Ag/Cu mineralised breccias (Fig. 1)
hosted in a heavily fractured dacite/rhyodacite, presumably a dome, and manifested within a network of intersecting NW (arc
parallel), transfer (NNE) and trans-tensional N-S structures. Au, Ag and Cu results from rock chip sampling has returned values
up to 20.04 g/t Au, 228.8 g/t Ag and 15.6 % Cu, respectively.
Localised diorite in outcrop, showing high-level cupola textures, is pervasive dickite-pyrite altered, with stockwork
quartz-pyrite±chalcopyrite veins (Fig. 2). A prominent airborne EM geophysical anomaly, adjacent to the mineralised
dickite-altered diorite, is also coincident with a high Au in soils.
Mineral zonation, from an inner vuggy silica core, surrounded by kaolinite and grading to chlorite±epidote is evident. A major
silica-alunite lithocap is marginal to the epithermal mineralisation and occupies the highest relief of the intense alteration
observed throughout the Blue Lake Prospect intrusive complex.
K92 Chief Executive Officer, John Lewins, states, "While much focus at K92 has been on the ramp up of production and
following up on the resource expansion potential in the Kora extension discovery area within ML150, today's news is a reminder of
the very important exploration potential within our large land package for both high grade vein systems and porphyry targets. The
discovery of this new Blue Lake area will be followed up on with fieldwork, concurrent with the ongoing execution of our growth
plan within Kora-Irumafimpa."
To view Figures 1-3 please click the following link: http://media3.marketwire.com/docs/K92Figs1-3.pdf
K92 Vice President Chris Muller, PGeo, a qualified person under the meaning of Canadian National Instrument 43-101,
has reviewed and is responsible for the technical content of this news release. Data verification by Mr. Muller includes
significant time onsite reviewing drill core, surface exposures, underground workings and discussing work programs and results
with exploration personnel.
ON BEHALF OF THE COMPANY,
John Lewins, Chief Executive Officer and Director
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 the Project, expectations of future cash flows, 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.