Corporate Member

K92 Mining is a rapidly growing gold producer operating the high-grade underground Kainantu Gold Mine in Eastern Highlands Province, Papua New Guinea. K92 is currently the largest explorer in Papua New Guinea and was the recipient of the 2021 Thayer Lindsley Award for Best Global Discovery from the PDAC. Since restarting the Kainantu Gold Mine in October 2016, K92 has consistently increased both its production and resource base. In 2024, K92 achieved record annual production of 150 koz AuEq.

Operations are undertaking multiple stages of fully-funded expansions, with the Stage 2 Expansion, doubling throughput to 400,000 tpa run-rate achieved in late-2021 and the Stage 2A Plant Expansion increasing throughput to 600,000 tpa achieved in May 2023. The Stage 3 and 4 Expansions plan to transform Kainantu into a Tier 1 Mid-Tier Producer, with the Stage 3 Expansion outlining a +300 kozpa operation at an annual throughput of 1.2 mtpa and the Stage 4 Expansion outlining a +400 kozpa operation and annual throughput increasing 200% from current levels of 600 ktpa to 1.8 Mtpa. In the June 2025, K92 commenced commissioning of its new 1.2 mtpa Stage 3 Process Plant, which is designed to transform Kainantu into a Tier 1 Mid-Tier Producer. Construction is rapidly advancing, with approximately 88% of growth capital either spent or committed as at August 31, 2025. K92 is in a very strong financial position to deliver on the Stage 3 Expansion.

Exploration is also a major focus for K92, targeting both vein and porphyry systems. Since 2017, K92 has grown its Measured and Indicated resource base by +579% and its Inferred resource base by +1,114%, with its latest resource update at Kora-Kora South and Judd-Judd South in December 2023. Both Kora-Kora South and Judd-Judd South, are open in multiple directions with significant potential for future growth. In Q1 2024, K92 drilled the first holes on the Arakompa Target in 32 years, recording significant high grade lodes plus high grade bulk mineralization. Since then, Arakompa has become a major exploration focus for K92 as it represents yet another opportunity for significant resource growth in addition to Kora and Judd. K92 continues to invest heavily into exploration, with up to 12 drill rigs operating, focused on the Arakompa, Maniape, Kora-Kora South, Judd-Judd South deposits, the emerging Mati, Mesoan and Bona Creek vein targets, and its porphyries.

Note *: Refer to Updated Definitive Feasibility Study (Updated DFS), effective date is January 1, 2024.