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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 STRONG Q2 FINANCIAL RESULTS AND RECORD MILL THROUGHPUT Vancouver , British Columbia , August 16 , 2021 - K92 Mining Inc. ( “ K92 ” or the “ Company ” ) ( TSX : KNT ; OTCQX : KNTNF ) is pleased to announce results from its financial statements for the three and six months ended June 30 , 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 , with pandemic resiliency rapidly increasing through ongoing vaccination programs . Production • • • • • Record quarterly tonnage of 75,667 tonnes treated , a 53 % increase from Q2 2020 . Quarterly gold equivalent ( “ AuEq ” ) production of 25,015 oz , or 22,153 oz gold , 1,098,730 lbs copper and 14,914 oz silver . Cash costs of US $ 736 / oz gold and all - in sustaining costs ( " AISC ” ) of US $ 1,057 / oz gold ounce ( 2 ) Production during the quarter was materially impacted by a surge in COVID - 19 cases in Papua New Guinea and the suspension of expatriate travel between Australia and Papua New Guinea from mid - March to mid - May . K92's operational resiliency and efficiencies in addressing COVID - 19 challenges were reflected in operational performance in the second half of the quarter , with production totaling 16,284 oz AuEq . K92 expects the second half of the year to be notably stronger than the first , and the fourth quarter to be the strongest , bolstered by production stoping commencing on the Judd Vein System . Financials • Balance sheet remained strong during Q2 . K92 fully repaid its debt during the first quarter and maintains a strong cash balance , ending the quarter with US $ 56 million as at June 30 , 2021. As production in the second half of the quarter was the strongest , a notable number of sales were realized in the third quarter .