K92 Mining Provides Update on Grade Control Drilling at Irumafimpa Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 27, 2017) - K92 Mining Inc. ("K92") (TSX VENTURE:KNT)(OTCQB:KNTNF) is pleased to announce recent results from the ongoing grade control drilling program at its high grade Kainantu Gold Mine, which is currently ramping up towards commercial production.

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 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, with almost every hole recording high grade intersections.

Table 1 and 2 below provides a summary of the results from diamond grade control holes twenty two to thirty six 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.

Intercepts include:

• 4.4m at 12.67 g/t Au plus 2m at 5.14 g/t Au, plus 0.8m at 41.6 g/t Au in hole GCDD0022
• 2.7m at 26.54 g/t Au in hole GCDD0023
• 2.3m at 15.04 g/t Au in hole GCDC0027
• 3m at 18.46 g/t Au plus 3m at 19.82 g/t Au in hole GCDD0028
• 6.1m at 9.87 g/t Au plus 2.2m at 10.34 g/t Au plus 1m at 9.41 g/t Au in hole GCDD0029
• 2m at 23.12 g/t Au in hole GCDD0036

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

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

Ian Stalker, K92 Chief Executive Officer and Director, states, "The continuing high grade results we are seeing from our grade control drilling provide us with increasing confidence in both the continuity and the high grade nature of the Irumafimpa system. As in previous drilling, there is also 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. The number of these high grade results along with previous drilling results, are perhaps indicative of our internal high grade cut being too aggressive.

It is also good to note the consistency of these results, as we near the commencement of the internal underground drilling campaign designed to test the undrilled area between this Irumafimpa ore body, and the Kora orebody."

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.