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K92 ANNOUNCES COVID-19 OPERATIONAL UPDATE AND RESPONSE PLAN

Written by Customer Service on . Posted in Public Companies.

VANCOUVER, British Columbia, March 23, 2020 (GLOBE NEWSWIRE) — K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is providing an operational update on the impact of the Covid-19 pandemic and emergency response plans.To date there has been no significant impact on operations at the Company’s Kainantu Gold Mine in Papua New Guinea as a result of the Covid-19 pandemic. The Company initiated a Covid-19 Management Plan at the operation, which addresses major issues such as occupational health, hygiene and safety, business continuity, travel, supply chain, statutory compliance, communications, testing, risk assessment and contingency planning.The Company has been increasing stock levels of spares and consumables to between four and six months, although to date there has been almost no impact seen to our supply chain.On Friday, March 20, Papua New Guinea reported its first case of Covid-19 infection, following the testing of an international visitor shortly after arrival in PNG. It is understood that the visitor was isolated, and no additional infections have been reported to date, with testing ongoing. As a result of this reported infection, the PNG Government has today declared a National State of Emergency (“SOE”) for a period of 14 days. Under the SOE there are international and domestic travel restrictions, with no foreign nationals permitted to enter the country and all travel between Provinces restricted to essential services.In line with other mining operations in country, the Company intends to maintain normal operations at the mine and associated facilities, but will be curtailing all non-essential works, including major capital projects and all field exploration activities. As a result, the commissioning of the plant expansion will be delayed until the current travel restrictions are lifted allowing the necessary external contractors to travel to site.The Company is making no change to its production guidance at this time but will be reviewing this over the coming month as the situation in country develops.The Company has the necessary complement of expatriate and PNG National workforce to maintain operations for the foreseeable future but will be evaluating developments on an ongoing basis.The work by external consultants to update the Kora – Kora North resource estimate is continuing and it is anticipated that this will be completed shortly. In addition, the work on a Preliminary Economic Assessment (“PEA”) on the next phase of expansion of the project is also continuing and it is anticipated that this report will be completed in the second quarter.    About K92K92 Mining Inc. is engaged in the production of gold, copper and silver from the Kora and Kora North deposits of the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine.  The Company declared commercial production from Kainantu in February 2018 and has commenced an expansion of the mine.  An updated Preliminary Economic Assessment on the property was published in January 2019. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.ON BEHALF OF THE COMPANY,

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