Mr. John Lewins reports

K92 MINING PUBLISHES FOURTH ANNUAL SUSTAINABILITY REPORT OUTLINING SIGNIFICANT ACHIEVEMENTS IN ESG

K92 Mining Inc. has published its 2022 sustainability report. This is K92's fourth annual sustainability report, outlining the environmental, social and governance ("ESG") practices and performance of the Company. The report builds on our strong foundation in ESG reporting and disclosure, including reporting in accordance with the Sustainability Accounting Standards Board ("SASB") Metals and Mining Standard for the fourth consecutive year, as well as continued progression of K92's alignment with the Task Force on Climate-related Financial Disclosures ("TCFD") recommendations. The report also outlines K92's recently-announced target to reduce energy and greenhouse gas ("GHG") emissions by 25% on a business-as-usual basis by 2030 (see June 21, 2023 press release - K92 Mining Announces 2030 GHG Reduction Target).

The 2022 Sustainability Report is available on the K92 website at the following link: https://k92mining.com/responsible-mining/

Environment, Social and Governance Highlights:

~94% of total workforce (employees plus contractors) are PNG Nationals with priority hiring from local communities.

1,477 employees and contractors employed in PNG.

$81.3 million in procurement to PNG companies, representing 59% of total procurement in PNG.

$31.8 million in taxes and royalties in PNG, an over 19% increase from 2021.

$17.3 million in corporate taxes paid in PNG, with K92 remaining the second-largest taxpayer in PNG's mining industry.

Lost-time injury ("LTI") frequency of 0.31.

Zero significant environmental incidents or spills.

~66% lower carbon intensity per gold equivalent ounce produced compared to the global mining average( 1 ) .

43% of Board Directors are female ( 2 ) , surpassing the 30% target established in K92's Board Diversity Policy.

Sustainability Committee Charter refreshed with updated mandate providing enhanced oversight of environmental management, climate change, community relations, human rights, and sustainability.

Continued alignment with TCFD recommendations with additional disclosures related to climate change governance and risk management as well as setting K92's inaugural energy and GHG emissions reduction target.

$1.1 million in direct community investment and progress on participating in the new Tax Credit Scheme enacted by the Government of PNG, through which up to two percent of the Company's assessable income can be allocated to community development projects, above and beyond our existing community investments.

Continued commitment to local skills development, including $1.3 million invested in professional, training, and trades programs during the year; 38 total tertiary scholarships awarded; 200 graduates from the K92 Adult Literacy Program; and multiple Memoranda of Understanding implemented with PNG universities to help develop a robust pipeline of skilled mine workers in the country.

Sustainable Agriculture Livelihoods Program further expanded, employing 180 people (~80% of whom are women) to provide them with active income and business skills.

All amounts are in U.S. dollars unless otherwise indicated.

Note (1): Based on S&P Global Market Intelligence 2020 data on a gold produced basis.

Note (2): Metrics as of mid-2023.

John Lewins, K92 Chief Executive Officer and Director, stated, "On behalf of the K92 team, we are pleased to release our 2022 Sustainability Report, which contains our primary annual disclosures related to ESG topics that are most important to the Company and our stakeholders. The report details our ESG practices and performance during 2022 as we continue to advance Kainantu into one of the industry's next world-class gold mines.

Throughout the year, we continued our strong focus on generating long-term, sustainable value for all our stakeholders. We continue to pride ourselves on the economic benefits we generate for the economy of PNG, including through employing nearly 1,500 employees and contractors, spending over $81M on procurement in the country, investing strategically in training, skills development, and educational initiatives, and investing over $1.1M throughout the year in direct community investments. We will continue to work diligently in 2023 in support of being a key catalyst for local, regional, and national economic development in PNG.

We are also pleased to have released our inaugural energy and GHG emissions reduction target, which will help drive operational efficiencies and contribute to K92 doing our part to combat the negative impacts of climate change. At the Board level, we refreshed our Sustainability Committee Charter to reinforce our continued focus on effective sustainability management and oversight. We are pleased to now have a Board composed of 43% women, including our Board Chair, the Chair of the Nominating and Corporate Governance Committee, and the Chair of the Sustainability Committee.

While this report covers the 2022 fiscal year, we must acknowledge the tragic fatalities that occurred earlier in 2023 (as disclosed in our press releases dated May 5, 2023 and June 28, 2023). We are committed to transparently disclosing information regarding these incidents and the steps that we have taken to help ensure they do not happen again. We will provide additional disclosures on these matters in our 2023 Sustainability Report.

Safety and the well-being of everyone at K92 is - and always will be - our highest priority.

I look forward to working diligently alongside the K92 team to deliver sustainable value for all our stakeholders in 2023 and beyond."

About K92

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 and is in a strong financial position. A maiden resource estimate on the Blue Lake 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.

We seek Safe Harbor.