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K92 MINING INC . BEST50 OTCQX 2021 Suite 488 1090 West Georgia Street Vancouver , British Columbia Canada V6E 3V7 Telephone : +1 ( 604 ) 687-7130 Facsimile : +1 ( 604 ) 608-9110 www.k92mining.com NEWS RELEASE K92 MINING RELEASES 2021 Q1 FINANCIAL RESULTS - RECORD NET CASH & PROCESS PLANT THROUGHPUT Vancouver , British Columbia , May 13 , 2021 - K92 Mining Inc. ( “ K92 ” or the “ Company ” ) ( TSX : KNT ; OTCQX : KNTNF ) is pleased to announce results from its financial statements for the three months ended March 31 , 2021 . Safety . • Strong focus on safety with one of the best safety records in the Australasia region since start of operations . Proactive and focused management of COVID - 19 . K92 continues to operate and has strong preventative and response plans . Production • • • . Record quarterly tonnage of 73,221 tonnes treated , a 54 % increase from Q1 2020 . Quarterly gold equivalent ( “ AuEq ” ) production of 18,654 oz , or 17,774 oz gold , 426,153 lbs copper and 7,925 oz silver . Cash costs of US $ 745 / oz gold and all - in sustaining costs ( " AISC ” ) of US $ 1,038 / oz gold ounce ( 2 ) . Long hole stoping continuing to perform well and to design on both the K1 and K2 veins , with stoping operations interrupted for ~ 3 weeks in March and recommenced near the end of the quarter , following an incident involving an underground loader , which prevented backfilling operations . Production from four high - grade stopes was deferred to Q2 , resulting in the plant treating a larger amount of lower grade stockpile material during Q1 , while benefiting Q2 production ( see March 18 , 2021 press release – Kainantu Operations and COVID - 19 Update ) . Operations were also impacted from mid - January to late - February due to a shortage of bulk emulsion explosives as a result of unforeseen COVID - 19 international shipping logistical issues compounded by increasing global transport restrictions as a result of the Beirut Incident . This was addressed through utilizing less productive alternative explosives ( ANFO and packaged explosives ) and supplementing mill feed from lower grade stockpiles . A significant shipment of bulk emulsion explosives arrived on site in late - February , the supplier has diversified sources and is expected to commence domestic production in May , nearby in Lae , to totally mitigate this issue ( see April 16 , 2021 press release - K92 Mining Announces Q1 Production Results and Record Plant Throughput at the Kainantu Gold Mine ) .