Mr. John Lewins reports

K92 MINING ANNOUNCES LEADERSHIP SUCCESSION - JOHN LEWINS APPOINTED NON-EXECUTIVE CHAIR, DAVID MEDILEK APPOINTED CHIEF EXECUTIVE OFFICER AND DIRECTOR

K92 Mining Inc. has made a leadership transition as part of the company's continuing succession planning. David Medilek, K92's current president and chief operating officer, has been appointed chief executive officer and director, effective Oct. 1, 2026. Mr. Medilek will succeed John Lewins, who will step down as CEO and assume the role of non-executive chair of the board. Concurrently, Anne Giardini will transition from independent chair of the board to lead director.

As part of the leadership transition, Chris Kinver, K92's current vice-president, projects and engineering, has been appointed COO, effective Oct. 1, 2026, succeeding Mr. Medilek. Susan Scheepers, who had been serving as K92's acting vice-president, human resources, has been appointed vice-president, human resources, effective Aug. 1, 2026.

Mr. Lewins is a founding director of K92, starting in 2016, serving as its first COO until transitioning to CEO in August, 2017. During his tenure, Kainantu progressed from mine restart in late 2016 to commercial production in early 2018, followed by the delivery of the stage 2 and stage 2A expansions and the substantial completion of the stage 3 expansion. As at June 30, 2026, 98 per cent of stage 3 expansion capital had been spent or committed, remaining on budget. A new state-of-the-art, 1.2-million-tonne-per-annum process plant has been fully operational since December, 2025, performing better than design, and the mine ramp-up is under way. The company has also achieved major exploration successes across Kora, Judd, Blue Lake and Arakompa, including being awarded the prestigious Thayer Lindsley Award for Best Global Discovery from the Prospectors & Developers Association of Canada (PDAC) in 2021 for the discovery of Kora North.

Mr. Lewins has overseen the development of a highly experienced leadership team and has built strong relationships with the government of Papua New Guinea, landowners and local communities, helping establish K92 as one of the leading taxpayers and a major investor in Papua New Guinea's mining industry, becoming the country's largest mineral explorer and a major contributor to the country's economic and social development.

Ms. Giardini, as K92 board chair, stated: "On behalf of the board, I would like to thank John for his exceptional leadership and service to K92 over the past decade. John has played a central role in transforming K92 into one of the mining sector's leading organic growth companies, while maintaining capital discipline and limiting shareholder dilution. His operational leadership, commitment to Papua New Guinea and focus on building a strong team have established a solid foundation for K92's future.

"The board has undertaken a thoughtful and orderly succession process and David Medilek is the clear choice to lead K92. David combines technical and operational experience with deep knowledge of K92 and Papua New Guinea, as well as extensive capital markets and corporate strategy experience. He has earned the confidence of the board and leadership team. We are equally pleased that John will continue to contribute to the success of K92 as non-executive chair. My transition to lead director helps to ensure independent oversight and continuity in board leadership."

Mr. Lewins, as K92 CEO and director, stated: "It has been an honour and a privilege to be involved in the initial establishment of K92 and to lead the company for the last decade as we established K92 as a highly profitable mid-tier gold producer. I am extremely proud of what our team has accomplished and grateful for the support and partnership of the government of Papua New Guinea, our landowners, communities, employees, contractors and shareholders. The stage 3 expansion process plant has been fully operational and performing better than design since December, 98 per cent of stage 3 expansion growth capital has been spent or committed, the project remains on budget and the mine ramp-up is advancing. With an exceptional production growth outlook and exploration pipeline ahead of us, this is the right time to transition leadership.

"During this time, I have been deeply engaged with the resource industry in Papua New Guinea, including having served on the council of the Papua New Guinea Chamber of Resources and Energy (PNG CORE) for many years. As a vice-president of PNG CORE, I have sought to play a leading role in the engagement of our industry with government and the regulators, and intend to continue in this role moving forward.

"David and I have worked closely since he joined K92 in 2019. He has played an integral role in shaping and executing our strategy and brings a rare combination of technical, operational, corporate and capital markets experience. I have full confidence in his leadership and look forward to supporting David, the board and the broader K92 team as non-executive chair. I have tremendous admiration for the people of Papua New Guinea and a deep bond with the country, and I plan to continue travelling there regularly to support David and K92, including maintaining engagement with government on behalf of K92 and the resource industry.

"I also intend to remain involved in our social development initiatives, especially through the Kainantu Foundation, which K92 established as a vehicle to promote and expand our efforts in this area. Last month, I was honoured to be appointed pro-chancellor of the University of Goroka, Papua New Guinea's largest university, based in Eastern Highlands province, where the Kainantu mine is located. This appointment allows me to continue to contribute to the development of Papua New Guinea and its next generation of leaders through education."

Mr. Medilek, a K92 president and COO, stated: "I am honoured to be appointed chief executive officer and director of K92 and grateful to the board for its confidence in me. John's leadership and mentorship have been instrumental in K92's success, and I look forward to continuing to work with him in his new role. K92 is exceptionally well positioned, with a world-class asset, a strong balance sheet and a high-quality team. Our immediate priorities are clear: operate safely and responsibly, execute the stage 3 Expansion ramp-up and stage 4 expansion, continue unlocking Kainantu's district-scale exploration potential, and deliver sustainable value for Papua New Guinea and our shareholders.

"I would also like to congratulate Chris and Susan on their well-deserved appointments. Chris has played a key role in advancing Kainantu's major expansions, and brings extensive experience in underground operations, mine development and project execution, together with deep knowledge of K92, to the chief operating officer role. Susan has demonstrated strong leadership while serving as K92's acting vice-president, human resources, and brings more than 20 years of human resources experience across the global resources industry, including extensive experience operating in Papua New Guinea. Their appointments reflect the depth of our leadership team and provide strong continuity as we execute our strategy."

David Medilek biography

Mr. Medilek is a mining professional with over 19 years of mining capital markets, corporate strategy, technical and operating experience. He joined K92 in 2019 and currently serves as K92's president and COO, having previously served as K92's president and as vice-president, business development and investor relations. Prior to joining K92, Mr. Medilek was an equity research analyst covering precious metals companies with Macquarie Group Ltd., a mining investment banker with Cormark Securities Inc. and a mining engineer with Barrick Gold Corp. Mr. Medilek holds a bachelor of applied science in mining engineering with distinction from the University of British Columbia, is a professional engineer in the province of British Columbia and is a CFA charterholder*.

* CFA and Chartered Financial Analyst are registered trademarks owned by CFA Institute.

Chris Kinver biography

Mr. Kinver is a mining engineer with more than 20 years of experience in underground operations and mine development. He currently serves as vice-president, projects and engineering, at K92, where he has led major expansion and engineering programs, and previously served as project director for the Kora expansion and mine manager. Prior to joining K92, Mr. Kinver was project manager for OceanaGold Corp.'s Didipio underground mine in the Philippines, where he led the safe, on-time and on-budget transition from open-pit mining to a 1.6-million-tonne-per-annum long-hole stoping underground operation. Earlier, he held senior operational leadership roles with BHP Billiton at the Perseverance nickel mine and Barrick Gold Corp. at the Plutonic gold mine, both in Western Australia, and worked as a principal engineer with Wardell Armstrong LLP. Mr. Kinver holds a bachelor of engineering in mining and mineral engineering with honours from the Camborne School of Mines and a first-class Western Australian mine manager's certificate.

Susan Scheepers biography

Ms. Scheepers is a senior Human Resources executive with more than 20 years of leadership experience in the global resources industry. She has held HR (human resources) leadership roles across site, corporate and international operations, and is recognized for delivering strategic people initiatives that support business performance and organizational growth. Prior to her appointment as vice-president, human resources, at K92 Mining, Ms. Scheepers served as acting vice-president, human resources, and group manager, human resources. Previously, she was group manager, people, at Aurelia Metals and general manager, people and performance, at Geopacific Resources, reporting directly to the CEO in both roles. She also served as group HR manager at St. Barbara Ltd., where she contributed to the turnaround of the Simberi gold mine and led the implementation of the gender smart safety project. Ms. Scheepers holds a master of business administration (MBA) and a bachelor of business administration (human resources) from North-West University.

About K92 Mining Inc.

K92 Mining 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 continuing 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.

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