Mr. Ian Stalker reports

K92 MINING CLOSES $2,000,000 FINANCING

K92 Mining Inc. has closed the non-brokered private placement announced on July 21, 2016, consisting of the issuance of 1,709,402 units at $1.17 per unit for gross proceeds of $2-million. All securities issued pursuant to the financing are subject to a four-month hold expiring Nov. 26, 2016.

Each unit consists of one common share and one common share purchase warrant. Each warrant will allow the holder to purchase one common share of K92 at a price of $1.75 for a period of 12 months from the date of issuance.

The sole investor in the financing is Ross Beaty.

Proceeds from the financing are intended to be used for general corporate purposes and to give the company enhanced optionality when completing the underground incline drive from Irumafimpa to Kora, with drill testing along the way.

In connection with the financing and subject to TSX Venture Exchange approval, K92 intends to pay a finder's fee of 119,658 offered shares and 119,658 warrants (exercisable at $1.75 for a period of 12 months) to a finder.

We seek Safe Harbor.