K92 Drills Multiple High Grade Gold Intersections in Irumafimpa Area

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2017) -

Intercepts include:

• 8.18m at 33 g/t Au plus 1m at 4.51 g/t Au plus 1.1m at 4.96 g/t Au in hole GCDD0020a
• 2m at 22.6 g/t Au plus 5.1m at 9.73 g/t Au plus 3.2m at 6.03 g/t Au in hole GCDD0020
• 2.7m at 28.75 g/t Au plus 1m at 2.49 g/t Au in hole GCDC0016
• 2m at 32.32 g/t Au in hole GCDD0019
• 1.5m at 73.16 g/t Au plus 0.94m at 4.74 g/t Au plus 1m at 5.44 g/t Au in hole GCDD0011
• 4.3m at 8.16 g/t Au in hole GCDD0018

K92 Mining Inc. ("K92") (TSX VENTURE:KNT)(OTCQB:KNTNF) is pleased to announce the latest results from the ongoing grade control drilling program at its high grade Kainantu Gold Mine. K92 is currently ramping up the Kainantu Gold Mine towards commercial production, with its longest continuous production run to date now commenced.

In September of 2016, K92 began a campaign of close spaced underground diamond drilling as part of a comprehensive grade control strategy. The current grade control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed space drilling pattern of approximately 15 metres by 15 metres has significantly increased the confidence in this sparsely drilled area, with most holes recording high grade intersections. Approximately 80% of the holes completed to date have recorded multiple high grade intersections indicating the presence of multiple parallel to sub parallel high grade veins.

The results from this drilling are used to finalize the various stope and ore development designs and provide updated information on projected production from the areas in terms of tonnage, grade and contained ounces. The drilled grade control holes are situated at the lowest point in the underground which K92 plans to mine and are also at the southern edge of the known resource that was previously only drilled on a 100 metre by 100 metre pattern.

K92 Chief Executive Officer, Ian Stalker, states, "In the context of K92 moving towards achieving Commercial Production, these high grade results are extremely pleasing as they confirm the continuity of the high grade system previously reported in the first six holes. The holes were drilled from an area at the southern extremity of the resource where data is limited and significantly lower grades were expected. The results also show consistent evidence of multiple parallel high grade veins within close proximity to each other, providing the potential for several veins to be mined from the same underground access."

Table 1 and 2 below provides a summary of the results from diamond grade control holes seven to twenty one 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 (drill hole GCDD0020a was drilled parallel to and within 5 metres of hole GCDD0020 as this hole did not go to full depth for technical reasons).

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 equivalent
GCDD0007		29		31		2		1.92		5.64		0.11		3.45		5.85
GCDD0007		38		39		1		0.98		2.81		0.12		0.9		3
GCDD0007		72		74		2		1.92		3.02		0.46		3.9		3.73
GCDD0008		22		22.9		0.9		0.68		4.38		0.13		4.6		4.62
GCDD0008		23.5		24.5		1		0.78		5.98		0.01		2.5		6.02
GCDD0008		45.1		46		0.9		0.63		13.2		0.02		1.3		13.24
GCDD0008		46		47		1		0.77		63.6		0.02		2.1		63.66
GCDD0009		24.7		25.5		0.8		0.78		7.99		0.29		2		8.43
GCDD0009		38.5		39.2		0.7		0.67		4.2		0.07		5.4		4.37
GCDD0009		40.35		40.6		0.25		0.19		7.76		0.06		7.9		7.95
GCDD0011		44		45.5		1.5		1.11		73.16		0.23		1.7		73.51
including		44		45.2		1.2		0.9		87.6		0.06		1.7		87.71
including		45.2		45.5		0.3		0.21		15.4		0.9		1.7		16.71
GCDD0011		49.36		50.3		0.94		0.67		4.74		0.01		1		4.77
GCDD0011		53		54		1		0.78		5.44		0.06		1.1		5.54
GCDD0012		25.5		27.3		1.8		1.71		1.21		0.02		4.6		1.3
GCDD0012		30.3		31.3		1		0.93		1.55		0.04		0.8		1.62
GCDD0012		34.8		36.5		1.7		1.59		1.86		0.04		4.08		1.98
GCDD0013		18.3		19.3		1		0.87		6.41		1.52		37.2		9.08
GCDD0013		34		35		1		0.91		11.4		0.05		2.3		11.5
GCDD0013		36		37		1		0.85		10.9		0.17		5		11.21
GCDD0013		45.5		45.8		0.3		0.25		6.92		0.02		1.1		6.96
GCDD0014		24		25		1		0.69		1.56		0.13		0.9		1.76
GCDD0014a		18.7		20.3		1.6		1.1		4.49		0.059		1		4.59
GCDD0014a		24.45		25		0.55		0.38		4.48		1		9.8		6.04
GCDD0014a		50.6		51.9		1.3		0.9		2.36		0.0283		8.6		2.52
GCDD0014a		54.7		55.4		0.7		0.48		3.78		0.0155		0.6		3.81
GCDD0015		21.9		23		1.1		0.89		19.7		0.023		1.8		19.76
GCDD0015		39		40.8		1.8		1.45		4.16		0.03		1.19		4.21
including		39		39.7		0.7		0.56		5.36		0.029		0.4		5.41
Including		39.7		40.8		1.1		0.89		3.39		0.031		1.7		3.46
GCDD0016		50.5		53.2		2.7		1.77		28.75		0.038		5.64		28.89
including		50.5		51.5		1		0.66		26.2		0.04		8.9		26.38
including		51.5		52.5		1		0.65		46.4		0.05		4.6		46.53
including		52.5		53.2		0.7		0.46		7.2		0.019		2.5		7.26
GCDD0016		60.3		61.3		1		0.66		2.49		0.434		24.9		3.44
GCDD0017		18		19		1		0.87		2.02		0.171		2.1		2.29
GCDD0017		35		36		1		0.88		6.6		0.03		144.1		8.56
GCDD0017		40		41		1		0.88		43.94		0.042		3.5		44.05
GCDD0018		75.1		79.6		4.3		2.12		8.16		0.103		15.87		8.52
including		75.1		77		1.9		0.93		10.9		0.069		14.5		11.19
including		77		78.2		1.2		0.58		9.95		0.081		27.4		10.43
including		78.2		79.6		1.2		0.61		2.03		0.181		6.5		2.38
GCDD0019		70		72		2		1.76		32.32		0.001		5.45		32.4
including		70		71		1		0.83		3.35		0.001		3.1		3.39
including		71		72		1		0.83		61.3		0.002		7.8		61.41
GCDD0020		19.6		21		1.4		1.18		2.12		0.077		1.54		2.25
including		19.6		20		0.4		0.34		2		0.052		0.4		2.08
including		20		21		1		0.84		2.18		0.087		2		2.33
GCDD0020		27		29		2		1.64		22.6		0.063		1.2		22.27
including		27		28		1		0.82		38.2		0.108		1.8		38.38
including		28		29		1		0.82		6.12		0.018		0.6		6.15
GCDD0020		29.6		34.7		5.1		4.23		9.73		0.022		2.21		9.89
including		29.6		31.6		2		1.65		11.2		0.046		3.3		11.31
including		31.6		32.7		1.1		0.92		5.59		0.042		0.5		5.66
including		32.7		33.7		1		0.83		18.9		0.258		2.8		19.31
including		33.7		34.7		1		0.83		2.22		0.024		1.3		2.27
GCDD0020		40		44.2		3.2		2.66		6.03		0.108		2.78		6.22
including		40		41		1		0.82		9.34		0.248		4.5		9.75
including		41		42		1		0.84		5.56		0.031		1.9		5.63
GCDD0020		43		44.2		1.2		1		3.67		0.056		2.1		3.78
GCDD0020a		19.9		21		1.1		0.85		4.96		0.019		1.9		5.01
GCDD0020a		27		35.18		8.18		5.56		33		0.06		2		33.11
including		27		28.3		1.3		1.05		81.3		0.121		2.3		81.5
including		28.3		29		0.7		0.57		2.99		0.056		2.5		3.1
including		29		31.9		2.9		2.45		52.9		0.069		2.8		53.04
including		33		33.7		0.7		0.57		5.26		0.006		0.7		5.28
GCDD0020a		41		42		1		0.8		2.1		0.052		1.6		2.2
GCDD0020a		43.5		44		0.5		0.43		2.42		0.242		1		2.78
GCDD0020a		70		71		1		0.78		4.51		0.005		5.8		4.6
GCDD0021		43		44		1		0.86		4.66		0.01		1.4		4.69
GCDD0021		56.1		56.5		0.4		0.35		3.36		0.166		0.9		3.61
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

Hole_id		Collar location						Collar orientation				EOH depth (m)		Lode
		Local north		Local East		RL		Dip		Local azimuth
GCDD0007		59656.5		29922.44		1248.2		-9.7		291.94		80		Irumafimpa
GCDD0008		59656.27		29923.08		1246.96		-36.8		292		80.2		Irumafimpa
GCDD0009		59656.12		29919.37		1247.77		-11		274		75.2		Irumafimpa
GCDD0010		59656.41		29922.49		1247.88		-28		274		70.3		Irumafimpa
GCDD0011		59655.68		29922.74		1247.17		-41		276		72		Irumafimpa
GCDD0012		59652.93		29916.76		1247.36		-10.28		254.18		54.6		Irumafimpa
GCDD0013		59654.12		29921.09		1247.21		-27.15		254.21		63.6		Irumafimpa
GCDD0014		59654.41		29922.1		1247.08		-39.3		254.57		37.3		Irumafimpa
GCDD0014a		59654.39		29921.98		1247.06		-39.04		254.31		74		Irumafimpa
GCDD0015		59653.01		29921.1		1247.38		-23.74		239.81		69.2		Irumafimpa
GCDD0016		59655.27		29924.96		1248.5		-36		239		72.9		Irumafimpa
GCDD0017		59653.01		29921.04		1248.38		-8.77		240.1		63.3		Irumafimpa
GCDD0018		59643.43		29950.55		1233.51		-23.1		242.55		95.7		Irumafimpa
GCDD0019		59643.32		29950.25		1233.97		-6.45		243.16		95		Irumafimpa
GCDD0020		59653.17		29920.97		1250.42		15.41		248.14		44.2		Irumafimpa
GCDD0020a		59653.17		29920.97		1250.06		16.38		242.67		72.1		Irumafimpa
GCDD0021		59656.22		29922.84		1249.59		13.67		290.42		105.2		Irumafimpa
GCDD0022		59643.47		29950.59		1233.47		-35.42		242.86		76.7		Irumafimpa
GCDD0023		59655.6		29921.25		1249.79		15.89		270.44		79.9		Irumafimpa
GCDD0024		59643.37		29950.4		1234.75		2.82		242.85		73		Irumafimpa
GCDD0025		59656.428		29923.16		1249.48		15.38		304.21		70		Irumafimpa
GCDD0026		59644.73		29946.53		1234.11		-8.87		249.76		81		Irumafimpa
GCDD0027		59644.76		29946.53		1233.84		-18.52		251.03		86.4		Irumafimpa

K92 Geologist Andrew Kohler, BSc, 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

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.