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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 Q3 FINANCIAL RESULTS AND ACHIEVES STAGE 2 EXPANSION RUN - RATE THROUGHPUT IN SEPTEMBER Vancouver , British Columbia , November 15 , 2021 - K92 Mining Inc. ( “ K92 " or the " Company " ) ( TSX : KNT ; OTCQX : KNTNF ) is pleased to announce financial results for the three and nine months ended September 30 , 2021 . Third Quarter 2021 Highlights Safety . • Strong focus on safety with zero lost time incidents ( “ LTI ” ) in the third quarter . Since the start of operations , Kainantu has had one of the best safety records in the Australasia region . Proactive and focused management of COVID - 19 . K92 has continuously operated throughout the COVID - 19 pandemic , has strong preventative and response plans , with pandemic resiliency strengthening through ongoing vaccination programs . Production • • • • • Record quarterly tonnage of 87,621 tonnes treated , a 35 % increase from Q3 2020 . Stage 2 Expansion run - rate processing throughput achieved in September , averaging 1,100 tonnes per day ( “ tpd ” ) , while consistently delivering a product size that is notably finer than required . On September 22 , 2021 , a single - day record of 1,408 tonnes processed was set , and subsequent to quarter end , a new record of 1,538 tonnes processed was set on October 24 , 2021 . Quarterly gold equivalent ( “ AuEq ” ) production of 24,122 oz , or 21,908 oz gold , 802,545 lbs copper and 19,736 oz silver . Cash costs of $ 596 / oz gold and all - in sustaining costs ( " AISC " ) of $ 752 / oz gold ( 2 ) . In the second half of Q3 , flat backing commenced at the J1 Vein , providing a considerable boost to underground productivities . In September , production of 11,095 oz Au , 284,002 lbs Cu , 7,871oz Ag , or 11,891 oz AuEq was achieved . Subsequent to quarter end , long - hole drilling commenced at the Judd Vein System with the first production stope on target for Q4 , representing an entirely new mining front . Financials ● Balance sheet remained strong during Q3 , with a net - cash position of $ 55 million as at September 30 , 2021. During the first nine months of 2021 , a total of $ 29.2 million was spent on growth and sustaining capital , including towards Stage 2A and Stage 3 Expansions .