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K92 Mining Announces Retirement of Philip Samar from Executive Role, Transition to Senior Advisor

VANCOUVER, British Columbia, July 08, 2025 (GLOBE NEWSWIRE) -- K92 Mining Inc.听(鈥�K92鈥� or the 鈥�Company鈥�) (TSX:聽KNT; OTCQB:聽聽KNTNF) announces the retirement of Philip Samar from his role as Vice President, Government and Community Affairs. Philip will continue to support the Company as a senior advisor in a consulting capacity going forward.

Mr. Samar joined K92 in January 2019 as Vice President, External and Corporate Affairs (subsequently titled Vice President, Government and Community Affairs), augmenting a distinguished career spanning more than two decades in Papua New Guinea鈥檚 mining sector. Prior to joining K92, he served as Managing Director of the Mineral Resources Authority (MRA) from 2012 to 2018, where he played a pivotal role in shaping Papua New Guinea鈥檚 mineral policies, engaging with international partners, and overseeing the licensing of major mining projects.

At K92, Mr. Samar has been instrumental in establishing and strengthening relationships with government, communities, and key stakeholders, significantly advancing the Company鈥檚 permitting and external affairs strategy. His leadership has been critical in supporting the development of the Kainantu Gold Mine, including the Stage 3 Expansion currently underway.

John Lewins, K92 Chief Executive Officer and Director, stated, 鈥淪ince joining K92 in 2019, Philip has played a key role in strengthening our business in Papua New Guinea. He has helped deepen our engagement with government and community stakeholders, supported important permitting processes, and provided valuable guidance on regulatory and strategic matters. His experience and understanding of PNG鈥檚 mining sector has contributed meaningfully to the advancement of the Kainantu Gold Mine.

What has always stood out about Philip is his passion for seeing Papua New Guinea prosper, and his belief in K92鈥檚 role as a responsible partner in that journey. His work has reflected a strong commitment to sustainable development, local capacity-building, and long-term value creation for the country and its people. We鈥檙e grateful for the professionalism and insight he brought to his role, and we are pleased that he will continue to support the Company in a senior advisory capacity. With a strong team in place and a well-established framework for external engagement, we are confident in a smooth transition and continued positive momentum. On behalf of the K92 team, we extend our thanks to Philip for his service and wish him all the best in this next chapter.鈥�

The Company will announce Philip Samar鈥檚 successor in the Community Affairs and External Relations function in due course. K92 remains committed to its strong engagement with Papua New Guinea鈥檚 communities and government, building on the solid foundations laid by Philip.

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, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing plant expansions. A maiden resource estimate on the Blue Lake copper-gold 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.

On Behalf of the Company,

John Lewins, Chief Executive Officer and Director

For further information, please contact David Medilek, P.Eng., CFA, President and Chief Operating Officer at +1-604-416-4445

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain 鈥渇orward-looking statements鈥� under applicable Canadian securities legislation. Such forward-looking statements include, without limitation: (i) the results of the Kainantu Mine Definitive Feasibility Study, including the Stage 3 Expansion, a new standalone 1.2 million tonnes per annum process plant and supporting infrastructure; (ii) statements regarding the expansion of the mine and development of any of the deposits; (iii) the Kainantu Stage 4 Expansion, operating two standalone process plants, larger surface infrastructure and mining throughputs; and (iv) the potential extended life of the Kainantu Mine.

All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as 鈥渆xpect鈥�, 鈥減lan鈥�, 鈥渁nticipate鈥�, 鈥減roject鈥�, 鈥渢arget鈥�, 鈥減otential鈥�, 鈥渟chedule鈥�, 鈥渇orecast鈥�, 鈥渂udget鈥�, 鈥渆stimate鈥�, 鈥渋ntend鈥� or 鈥渂elieve鈥� and similar expressions or their negative connotations, or that events or conditions 鈥渨ill鈥�, 鈥渨ould鈥�, 鈥渕ay鈥�, 鈥渃ould鈥�, 鈥渟hould鈥� or 鈥渕ight鈥� occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors, many of which are beyond our ability to control, that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, without limitation, Public Health Crises, including the epidemic or pandemic viruses; changes in the price of gold, silver, copper and other metals in the world markets; fluctuations in the price and availability of infrastructure and energy and other commodities; fluctuations in foreign currency exchange rates; volatility in price of our common shares; inherent risks associated with the mining industry, including problems related to weather and climate in remote areas in which certain of the Company鈥檚 operations are located; failure to achieve production, cost and other estimates; risks and uncertainties associated with exploration and development; uncertainties relating to estimates of mineral resources including uncertainty that mineral resources may never be converted into mineral reserves; the Company鈥檚 ability to carry on current and future operations, including development and exploration activities at the Arakompa, Kora, Judd and other projects; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company鈥檚 ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the Stage 4 Expansion; the ability of the Company to achieve the inputs the price and market for outputs, including gold, silver and copper; failures of information systems or information security threats; political, economic and other risks associated with the Company鈥檚 foreign operations; geopolitical events and other uncertainties, such as the conflicts in Ukraine, Israel and Palestine; compliance with various laws and regulatory requirements to which the Company is subject to, including taxation; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions, including relationship with the communities in Papua New Guinea and other jurisdictions it operates; other assumptions and factors generally associated with the mining industry; and the risks, uncertainties and other factors referred to in the Company鈥檚 Annual Information Form under the heading 鈥淩isk Factors鈥�.

Estimates of mineral resources are also forward-looking statements because they constitute projections, based on certain estimates and assumptions, regarding the amount of minerals that may be encountered in the future and/or the anticipated economics of production. The estimation of mineral resources and mineral reserves is inherently uncertain and involves subjective judgments about many relevant factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, Forward-looking statements are not a guarantee of future performance, and actual results and future events could materially differ from those anticipated in such statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause actual results to differ materially from those that are anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.