K92 Mining Inc. announces that underground operations at the Kainantu Gold Mine have been temporarily suspended after a non-industrial incident occurred on the Company?s mining lease on March 10, 2024, resulting in a deceased employee. Processing operations were temporarily suspended for three days and have resumed processing stockpiles. Preliminary findings from K92 and the Royal Papua New Guinea Constabulary (Police) have concluded that the death is a non-industrial suspicious incident.

K92 is working with the relevant Government authorities under the Criminal Code Act and Mining (Safety) Act to support their investigations. On March 13, 2023, the Mineral Resources Authority (?MRA?) ordered a temporarily suspension of underground operations through issuance of a ?Form 29?, pending the completion of action orders in relation to an independent safety audit and the installation of a collision avoidance system. Work on these action orders is underway and were in process by the Company prior to the issuance of the action orders.

Given the non-industrial nature of the incident, procedural, determination and jurisdictional breaches of the Mining (Safety) Act in issuing the Form 29, K92 filed an appeal on March 14, 2023 and expects this to be addressed shortly. The Company is working to resolve this expeditiously and will be providing an update in due course.