Mr. Ian Stalker reports

K92 MINING INC. PROVIDES CORPORATE AND SITE UPDATE

K92 Mining Inc. has provided a corporate and site update.

Site

K92 Mining reports that the remedial work on the main mine access (muck bay 9) is expected to be completed by month-end, allowing full access to the upper working levels. Further, the underground mining equipment required for the restart of operations including twin-boom jumbo, loaders, compressor and information technology are now on on-site, with additional equipment in transit or on order.

Additionally, the company commissioned and has received a detailed mine plan for the Irumafimpa gold deposit from Australian Mine Design and Development Pty. Ltd., which will guide the company's mine restart. Initial load commissioning of the crushing section and water commissioning of the mill and flotation sections are scheduled to commence prior to the end of the month. Other improvement and enhancement work at the processing facility is under way, including the installation of a drum scrubber, which has now arrived on-site ready for installation in the coming month. These actions are part of the company's business plan to enhance, improve, rehabilitate and restart mining operations within the company's mining licence 150 (as described in the independent technical report, resource estimate and summary of mining facilities, Kainantu project, Papua New Guinea, Nolidan Mineral Consultants, author Anthony Woodward, BSc, honours, MSc, member of the Australian Institute of Geoscientists, April 15, 2016 -- a copy of which is available for review and has been filed on SEDAR under the company's profile).

Ian Stalker, chief executive officer, stated: "The business plan developed for K92's restart of operations is being executed and is on track. We have an able team of expert mining professional's on-site and substantial surface and underground infrastructure in place as a result of the acquisition from Barrick Gold. Additionally, the processing facility enhancements and equipment purchases we set out to make during the rehabilitation phase are almost complete. We thank the local communities for their strong support and enthusiasm for the restart process and look forward to the enhanced economic opportunities and employment this project will create."

Corporate

On May 20, 2016, the company granted a total of 7,465,000 incentive stock options to employees, officers, directors and an investor relations provider. The options were granted in accordance with the terms of the company's stock option plan. They are exercisable at a price of 45 cents per share, vest over a period of 18 months, with the initial vesting six months following the date of grant and expire on May 20, 2021.

Further, the company has engaged Skanderbeg Capital Advisors to provide investor relations services for a 12-month term at a rate of $5,000 per month plus goods and services tax, with the company having the right to cancel the agreement at any time. The company granted 120,000 incentive stock options to Skanderbeg at an exercise price of 45 cents (included in the total amount previously noted in this news release). These options vest over a period of 18 months, with the initial vesting six months following the date of grant and expire on May 20, 2021. Skanderbeg is based in Vancouver, B.C., and principals are Carson Seabolt and Mario Vetro.

We seek Safe Harbor.