K92 Is Pleased to Provide an Update on the Latest Grade Control Drilling on the Irumafimpa Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 17, 2017) -

Intercepts include:

• 4.1m at 6.01 g/t AuEq plus 1m at 4.33 g/t AuEq in hole GCDD0038
• 3.2m at 29.6 g/t AuEq, including 0.6m at 130.94 g/t AuEq in hole GCDD0045
• 1.4m at 174.78 g/t AuEq, including 1m at 244.09 g/t AuEq, plus 3.2m at 6.88 g/t AuEq in hole GCDD0046
• 2.75m at 21.38 g/t AuEq, including 1.05m at 51.22 g/t AuEq in hole GCDC0052
• 4.3m at 27.93 g/t AuEq in hole GCDD0053
• 1.3m at 22.22 g/t AuEq, plus 1.6m at 4.13 g/t AuEq in hole GCDD0059

K92 Mining Inc. ("K92") (TSX VENTURE:KNT)(OTCQB:KNTNF) is pleased to announce recent results from 23 diamond drill holes completed in the ongoing underground grade control drilling program at its high grade Kainantu Gold Mine, which continues a production ramp-up.

The latest results are from the ongoing campaign of close spaced underground diamond drilling which is part of a comprehensive grade control strategy commenced in September 2016. The current grade control results are from an area of the Irumafimpa deposit which will be mined in the coming six months to nine months and is designed to bring a high degree of confidence to the production planning and scheduling. The closed space drilling pattern of approximately 15 metres by 15 metres has significantly increased the confidence in this previously sparsely drilled area and has confirmed the continuity of mineralization within this area.

Table 1 and 2 below provides a summary of the results from twenty-three diamond grade control which have been drilled into the stope areas it is planned to be mined underground. Table 1 provides a summary of the significant intercepts from the holes, while Table 2 provides details of collar location and hole orientation.

Table 1 Kainantu Gold Mine - Significant Intercepts from Irumafimpa Grade Control

Hole_id	From (m)	To (m)	Interval (m)	True width (m)	Gold g/t	Copper %	Silver g/t	Gold Eq
GCDD0037	70.00	72.00	2.00	1.54	2.38	0.29	3.85	2.85
including	70.00	71.00	1.00	0.77	5.25	0.04	4.60	5.36
GCDD0037	88.00	89.00	1.00	0.77	6.69	0.03	4.10	6.79
GCDD0038	39.00	44.00	4.10	2.26	5.95	0.03	0.98	6.01
including	40.60	43.10	2.50	1.38	9.04	0.04	0.90	9.11
GCDD0038	52.00	54.00	2.00	1.10	2.91	0.96	3.40	4.33
including	53.00	54.00	1.00	0.55	4.56	0.20	2.60	4.89
GCDD0039	26.30	29.40	3.10	2.48	3.03	0.02	0.40	3.06
GCDD0039	34.00	35.00	1.00	0.80	14.46	0.01	2.40	14.51
GCDD0039	53.00	54.00	1.00	0.80	4.87	0.02	10.80	5.04
GCDD0039	55.00	56.00	1.00	0.80	3.30	0.04	2.70	3.39
GCDD0040	40.00	40.65	0.65	0.49	5.91	0.13	2.00	6.12
GCDD0040	54.00	54.60	0.60	0.46	33.56	0.03	6.00	33.68
GCDD0041	76.15	77.00	0.85	0.63	5.53	0.12	35.90	6.18
GCDD0041	81.74	82.50	0.76	0.56	10.54	0.04	10.26	10.72
including	81.74	82.10	0.36	0.27	20.92	0.01	10.00	21.07
GCDD0041	120.00	122.00	2.00	1.47	1.97	0.01	7.00	2.07
GCDD0041	124.63	125.80	1.17	0.89	3.87	0.13	10.20	4.19
GCDD0042	49.20	49.50	0.30	0.21	17.28	0.11	159.50	19.56
GCDD0042	82.00	82.70	0.70	0.50	7.84	0.03	0.00	7.88
GCDD0042	133.90	134.80	0.90	0.65	4.80	0.20	6.00	5.17
GCDD0043	54.40	55.00	0.60	0.43	6.05	0.14	7.00	6.34
GCDD0043	78.50	79.30	0.80	5.80	6.51	0.02	1.00	6.55
GCDD0043	90.90	91.20	0.30	0.21	4.36	0.06	2.00	4.47
GCDD0043	93.00	94.00	1.00	0.73	3.66	0.03	0.00	3.70
GCDD0043	124.40	126.00	1.60	1.19	3.51	0.11	0.00	3.67
GCDD0043	129.10	130.80	1.70	1.27	4.91	0.11	14.91	5.27
including	129.10	129.70	0.60	0.45	9.88	0.09	14.00	10.20
GCDD0044	96.70	98.45	1.75	1.24	4.59	0.02	0.00	4.62
including	96.70	97.90	1.20	0.85	6.14	0.02	0.00	6.17
GCDD0044	132.80	133.60	0.80	0.57	3.00	5.89	3.00	11.45
GCDD0045	79.80	83.60	3.20	2.41	28.00	0.07	113.16	29.60
including	79.80	81.90	2.10	1.34	6.82	0.03	49.00	7.52
including	83.00	83.60	0.60	0.38	125.00	0.13	432.00	130.94
GCDD0045	92.70	94.90	2.20	1.38	2.78	0.04	0.00	2.83
including	92.70	93.90	1.20	0.76	3.80	0.03	0.00	3.84
GCDD0045	121.20	121.80	0.60	0.40	5.78	0.47	32.00	6.88
GCDD0046	35.00	36.40	1.40	1.37	174.53	0.10	7.97	174.78
including	35.00	36.00	1.00	0.98	243.80	0.13	8.00	244.09
GCDD0046	48.20	48.90	0.70	0.68	11.80	0.52	3.00	12.58
GCDD0046	53.50	56.70	3.20	3.10	6.81	0.03	2.69	6.88
including	53.50	54.00	0.50	0.49	5.66	0.05	7.00	5.82
including	54.00	55.00	1.00	0.97	3.01	0.02	7.00	3.13
including	56.00	56.70	0.70	0.68	21.94	0.04	3.00	22.04
GCDD0046	67.40	68.00	0.60	0.58	8.30	0.05	4.00	8.42
GCDD0046	70.70	71.50	0.80	0.77	6.37	0.26	7.00	6.83
GCDD0047	62.70	63.20	0.50	0.36	3.34	0.04	2.00	3.42
GCDD0047	95.20	95.70	0.50	0.36	2.44	0.01	5.00	2.53
GCDD0047	103.40	103.80	0.40	0.28	2.70	0.72	30.00	4.13
Hole_id	From (m)	To (m)	Interval (m)	True width (m)	Gold g/t	Copper %	Silver g/t	Gold Eq
GCDD0048	41.20	43.00	1.80	1.64	9.20	0.02	2.00	9.26
including	41.20	42.00	0.80	0.75	10.93	0.02	2.00	10.99
including	42.00	43.00	1.00	0.94	7.83	0.02	2.00	7.89
GCDD0048	56.10	56.80	0.70	0.65	9.48	0.55	4.00	10.32
GCDD0048	58.55	59.00	0.45	0.42	4.87	0.06	3.00	5.00
GCDD0048	78.50	79.50	1.00	0.94	4.44	0.09	2.00	4.60
GCDD0048	80.26	82.50	2.24	1.78	2.75	0.77	18.26	4.09
including	80.60	82.50	1.90	1.51	2.96	0.85	21.00	4.46
GCDD0048	83.50	84.30	0.80	0.75	6.28	0.14	14.00	6.67
GCDD0049	29.24	31.75	2.51	2.50	2.23	0.09	7.32	2.45
including	29.24	29.80	0.56	0.60	3.85	0.32	17.00	4.53
GCDD0049	46.40	47.00	0.60	0.60	3.04	0.01	2.00	3.07
GCDD0050	97.40	98.40	1.00	0.74	8.76	0.12	23.90	9.25
GCDD0051	56.70	56.90	0.20	0.19	1.74	0.01	1.20	1.77
GCDD0052	82.45	85.20	2.75	2.03	21.27	0.03	5.80	21.38
including	82.50	83.50	1.05	0.78	51.05	0.03	9.30	51.22
including	84.10	85.20	1.10	0.80	4.01	0.02	3.00	4.08
GCDD0052	93.80	94.20	0.40	0.30	2.63	0.21	6.20	3.01
GCDD0053	40.20	40.60	0.40	0.31	2.90	0.20	10.70	3.33
GCDD0053	74.70	79.00	4.30	3.44	27.87	0.02	2.23	27.93
including	74.70	75.50	0.80	0.63	131.01	0.04	1.60	131.09
including	76.00	77.00	1.00	0.80	1.74	0.04	6.10	1.88
including	78.00	79.00	1.00	0.80	13.31	0.01	2.20	13.35
GCDD0054	31.20	32.70	1.50	0.98	4.45	0.14	14.80	4.85
GCDD0054	61.00	63.90	2.90	2.42	5.43	0.17	3.14	5.72
including	61.00	62.00	1.00	0.84	6.56	0.10	1.20	6.72
including	63.40	63.90	0.50	0.42	17.21	0.67	12.20	18.33
GCDD0054	65.90	67.00	1.10	0.92	3.72	0.06	2.90	3.84
GCDD0055	36.80	37.10	0.30	0.27	2.72	0.19	5.60	3.07
GCDD0055	39.70	40.40	0.70	0.62	63.72	0.02	4.40	63.81
GCDD0056	73.20	74.00	0.80	0.64	30.76	0.16	3.62	31.04
including	73.20	73.62	0.40	0.33	51.34	0.11	3.10	51.54
including	73.62	74.00	0.40	0.30	8.01	0.22	4.20	8.38
GCDD056	82.00	83.65	1.65	1.31	10.57	0.02	1.25	10.62
including	82.00	83.00	1.00	0.80	3.31	0.01	0.90	3.34
including	83.00	83.65	0.65	0.52	21.73	0.03	1.80	21.80
GCDD0057	75.00	75.80	0.80	0.63	10.06	0.04	6.90	10.21
GCDD0059	77.60	78.10	0.50	0.38	2.85	0.02	4.40	2.94
GCDD0059	80.60	82.20	1.60	1.21	4.07	0.02	2.30	4.13
GCDD0059	84.20	85.50	1.30	0.99	22.20	0.01	0.30	22.22

Notes

Gold Equivalent uses Copper price - US$2.50/lb; Silver price US$16/oz and Gold price of US$1200/oz

Table 2 Kainantu Gold Mine - Collar Locations for Irumafimpa Grade Control Drilling

	Collar location			Collar orientation		EOH depth (m)
Hole_id	Local north	Local East	mRL	Dip	Local azimuth
GCDD0037	59648.63	29946.27	1234.44	5.54	312.43	100.1
GCDD0038	59659.41	29923.48	1249.44	10.35	328.20	64.8
GCDD0039	59656.51	29923.47	1249.47	13.92	309.79	88.2
GCDD0040	59656.96	29922.98	1248.57	-4.78	311.20	90
GCDD0041	59648.50	29946.33	1233.91	-21.61	311.69	127
GCDD0042	59648.89	29947.34	1233.74	-12.15	320.11	138
GCDD0043	59649.04	29947.28	1234.01	-5.31	319.71	133.7
GCDD0044	59648.84	29947.31	1233.57	-20.20	318.88	148.1
GCDD0045	59648.81	29947.35	1233.35	-31.54	318.13	126.2
GCDD0046	59729.95	29938.76	1262.15	-2.44	262.42	80
GCDD0047	59643.35	29950.65	1233.22	-33.91	233.45	124.6
GCDD0048	59730.14	29939.80	1261.45	-18.34	262.57	96
GCDD0049	59730.10	29939.91	1260.94	-29.90	261.53	70
GCDD0050	59643.73	29950.34	1233.03	-36.24	243.07	120
GCDD0051	59729.52	29939.60	1262.14	-2.36	292.33	80.2
GCDD0052	59644.91	29946.86	1233.37	-39.02	250.51	104.3
GCDD0053	59646.93	29945.96	1233.16	-39.61	270.00	101.5
GCDD0054	59729.51	29939.63	1262.14	-0.94	292.51	89.3
GCDD0055	59730.51	29939.61	1262.09	-2.77	303.03	90.2
GCDD0056	59647.14	29945.93	1233.16	-38.91	278.87	102.2
GCDD0057	59648.16	29943.65	1231.40	-37.04	289.37	102
GCDD0058	59730.36	29939.87	1261.13	-24.12	303.22	102
GCDD0059	59647.33	29945.99	1233.27	-37.04	289.37	114

Ian Stalker, K92 Chief Executive Officer and Director, states, "The latest grade control drilling results include the highest grade intersection we have seen to date at Irumafimpa, with one metre at 244.09 g/t AuEq recorded in hole GCDD0046. This and other results reported here continue to provide support for the continuity and high grade nature of the Irumafimpa system. Importantly, with these latest results, we have now drilled out the next six months of our projected production. We will however continue to undertake the grade control drilling program at the current accelerated rate, with a target of having completed the grade control drilling for our entire 2018 production by the end of 2017."

K92 Advisor, Brian Lueck, P.Geo, a qualified person under the meaning of Canadian National Instrument 43-101, has reviewed and is responsible for the technical content of this news release.

On behalf of the company,

Ian Stalker, Chief Executive Officer and Director

The TSX Venture Exchange has neither approved nor disapproved the contents of this News Release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, production, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding potential ongoing production which may or may not occur and the generation of further production assessment work at deposits, which may or may not occur. While commercial production is targeted, there is no assurance it will be achieved. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company's securities, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters. 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.