Slide 1: Growing Production & Transformative Discoveries
Growing Production & Transformative Discoveries Site Visit Presentation Kainantu Gold Mine, Papua New Guinea October 22 -23, 2025
Slide 2: Forward-Looking and Cautionary Statements
Forward-Looking and Cautionary Statements TSX: KNT OTCQX: KNTNF This Presentation is being provided for information purposes only and does not constitute or form part of, and should not be construed as, an offer or invitation to sell or any solicitation of any offer to purchase or subscribe for any
Slide 3: Corporate Update
Corporate Update John Lewins, CEO and Director
Slide 4: K92 Mining – A Unique Tier-1 Opportunity
K92 Mining – A Unique Tier-1 Opportunity TSX: KNT OTCQX: KNTNF Rapid near-term growth to Tier 1 Mid-Tier Producer Large, high-grade resource with significant growth towards 500 koz AuEq pa at industry leading low costs potential from multiple deposits • Stage 3 Expansion to 300 koz AuEq pa (new plan
Slide 5: Corporate Structure
Corporate Structure TSX: KNT OTCQX: KNTNF Key Financial Data (as at June 30/25) Fully Funded to Execute Growth Trajectory Symbol TSX: KNT, OTXQX: KNTNF Strong Cash Balance Fully Diluted Shares Outstanding 246.4 Cash, Cash Equivalents and Term Deposits US$183m Significant Available Liquidity From Cre
Slide 6: Attractive Valuation - Compelling Re-Rate Opportunity
Attractive Valuation - Compelling Re-Rate Opportunity TSX: KNT OTCQX: KNTNF P / NAV 2025 – 2028E Production Growth (koz AuEq) 2.5x 2025E Prod (koz) 2028E Prod (koz) 1,000 900 2.0x 800 700 1.5x 600 Peer Average: 1.3x 500 +69% +132% 1.0x 400 300 0.5x 200 100 - - Lundin New Gold Wesdome Alamos G Mining
Slide 7: Sustainability Initiatives Overview
Sustainability Initiatives Overview TSX: KNT OTCQX: KNTNF • Outstanding Community Humanitarian Initiative awarded by the PNG Chamber of Resources and Energy in 2024 for the K92 Sustainable Livelihoods Agriculture Program Communities • Creating business opportunities for landowner groups via Joint Ve
Slide 8: K92 Strategy – Realize/Maximize the Potential of Kainantu
K92 Strategy – Realize/Maximize the Potential of Kainantu TSX: KNT OTCQX: KNTNF Strategic Pillars Growth Phases Near-Term Transform Kainantu Into A World Class, Tier 1 Gold Mine Through Delivering the Stage 3 and 4 Mine Expansions Deliver the Stage 3 and 4 Expansions to Become a Tier 1 Mid-Tier Prod
Slide 9: 2025 Has Been A Transformational Year for K92
2025 Has Been A Transformational Year for K92 TSX: KNT OTCQX: KNTNF Stage 3 Expansion Process Plant Grand Opening on October 16 – Delivered Under Budget 9
Slide 10: Multiple Strategic Priorities Delivered in 2025 Year-To-Date
Multiple Strategic Priorities Delivered in 2025 Year-To-Date TSX: KNT OTCQX: KNTNF • Stage 3 Expansion Process Plant Delivered Under Budget STAGE 3 AND 4 EXPANSIONS • 90% of growth capital spent or committed as at Sept 30th and project remains on budget • Multiple surface and underground projects co
Slide 11: Operational Performance Has Been Strong
Operational Performance Has Been Strong TSX: KNT OTCQX: KNTNF AuEq Production (koz), Cash Cost ($/oz AuEq) and AISC ($/oz AuEq) Significant Portion of Sustaining Capex is for Upcoming Expansions Stage 2 Expansion Operational Plant Commissioned Impact Due to Temporary Suspension of Underground Mining
Slide 12: Kainantu Mine Safety – Our Greatest Focus
Kainantu Mine Safety – Our Greatest Focus TSX: KNT OTCQX: KNTNF Lost Time Injury Frequency Rate (1,2) Formula Used (LTIFR) Lost Time Injury Frequency Rate Lost Time Injury Western Australia Gold Miners LTI (YTD) x 1,000,000 2.20 Total Manhours (YTD) 2.00 Example for CY 2023 1.50 1.52 7 x 1, 000, 000
Slide 13: Strong PNG Government and Key Stakeholder Support
Strong PNG Government and Key Stakeholder Support TSX: KNT OTCQX: KNTNF February 2025 Site Visit – Delegation Led by the March 2025 Site Visit – Delegation Led by August 2025 Site Visit – Delegation Led by late Hon. Luther Wenge Governor of EHP Province Hon. Simon Sia Minister for Mining Hon. Rainbo
Slide 14: Strong Government Support at Stage 3 Expansion Plant Grand Opening
Strong Government Support at Stage 3 Expansion Plant Grand Opening (October 16, 2025) TSX: KNT OTCQX: KNTNF 𝗣𝗿𝗶𝗺𝗲 𝗠𝗶𝗻𝗶𝘀𝘁𝗲𝗿 𝗠𝗮𝗿𝗮𝗽𝗲 𝗖𝗼𝗺𝗺𝗲𝗻𝗱𝘀 𝗞𝟵𝟮 𝗠𝗶𝗻𝗲 𝗮𝘀 𝗠𝗼𝗱𝗲𝗹 𝗳𝗼𝗿 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗹𝗲 𝗮𝗻𝗱 𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝘁 𝗠𝗶𝗻𝗶𝗻𝗴 𝗞𝗮𝗶𝗻𝗮𝗻𝘁𝘂, 𝗘𝗮𝘀𝘁𝗲𝗿𝗻…
Slide 15: Systematically Executing to Become a Tier 1 Mid-Tier Producer
Systematically Executing to Become a Tier 1 Mid-Tier Producer TSX: KNT OTCQX: KNTNF New Process Plant Commissioning Now Targeting Late 2027 4Q 2020 2Q 2023 Underway Commissioning Stage 4 Stage 3 1,800,000 tpa Stage 2 Stage 2A 1,200,000 tpa +400 koz AuEq pa 400,000 tpa 500,000 tpa 300 koz AuEq pa Via
Slide 16: Kainantu Mine Execution
1Q19 27kt 2Q19 38kt 3Q19 32kt 4Q19 30kt 1Q20 47kt 2Q20 49kt 3Q20 65kt 4Q20 69kt 1Q21 73kt 2Q21 76kt 3Q21 88kt 4Q21 100kt 1Q22 100kt 2Q22 109kt 3Q22 118kt 4Q22 122kt 1Q23 118kt 2Q23 112kt 3Q23 121kt 4Q23 152kt 1Q24 131kt Total Ore Processed (kt) 2Q24 96kt 3Q24 105kt Note: Q1 head grade of 14.9 g/t Au
Slide 17: Near-Term Mine Transformation: Major Infrastructure Upgrades
Near-Term Mine Transformation: Major Infrastructure Upgrades TSX: KNT OTCQX: KNTNF Kora-Irumafimpa Planned Twin Incline and Development Long Section (Looking West) 1 Twin Incline Scope: High Speed 2.9km twin incline, capable of +5 mtpa with conveyors Status: Effectively Complete Impact: Transforms m
Slide 18: Rapid Ore Transport - Twin Incline Complete
Rapid Ore Transport - Twin Incline Complete TSX: KNT OTCQX: KNTNF Existing Incline to Main Mine New Twin Incline (#2) Transported 1 mt (waste & ore) in 2022 High Speed, Large Travel way, Gradual Gradient 6.5 metres 4.5 metres 4 metres 6 metres The Twin Inclines Are Effectively An Underground Express
Slide 19: Ore Pass System – Major Milestone with First Tonnes Moved
Ore Pass System – Major Milestone with First Tonnes Moved TSX: KNT OTCQX: KNTNF First Ore/Waste Pass Tonnes Moved in Early August The Pass Significantly Improves Material Handling Productivity Multiple surface haulage records achieved following material pass commissioning and integration of surface
Slide 20: Primary LOM Fans – To Be Installed in H1 2026
Primary LOM Fans – To Be Installed in H1 2026 TSX: KNT OTCQX: KNTNF The new primary fans can deliver airflow up to 4x current rates Primary Fan Chamber Civil works are complete, Fans to be installed in Q4 2025, Electrification planned to be opportunistically completed in H1 2025 as not required for
Slide 21: 3x Increase of Mining Fronts by End of 2025
3x Increase of Mining Fronts by End of 2025 TSX: KNT OTCQX: KNTNF Kora-Irumafimpa Long Section (Looking West) 1 Current Mining Front (Kora and Judd) 2 Current Status: Developing Four Sublevels Concurrently 3 Current Status: Developing Five Sublevels Concurrently 4 2026: New Mining Front Once Pastefi
Slide 22: Near-Term Delivery of Stage 3 & 4 Expansions
Near-Term Delivery of Stage 3 & 4 Expansions TSX: KNT OTCQX: KNTNF 2025 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 New Standalone Stage 3 Expansion Process Plant (1.2 mtpa) Pastefill Plant Process Capacity Ramp-up to 1.8 mtpa Mine Ramp-up to 1.8 mtpa +150 m3/s +200 m3/s +250 m3/s Up to 600 m3/s P
Slide 23: Process Plant Commissioning Underway
Process Plant Commissioning Underway TSX: KNT OTCQX: KNTNF Construction of the New 1.2 Mtpa Process Plant Completed Under Budget 23
Slide 24: Ancillary Construction Projects Progressing Well
Ancillary Construction Projects Progressing Well TSX: KNT OTCQX: KNTNF Interim Power Station - Complete Warehouse Construction - Complete New Kumian Creek Camp - Complete Primary Power Station – New Maintenance Facilities - In Progress Phase 1 Complete (8.8 MW) Significant amount of ancillary packag
Slide 25: Stage 3 Expansion Update – Paste Plant Advancing
Stage 3 Expansion Update – Paste Plant Advancing TSX: KNT OTCQX: KNTNF Underground Paste Plant Surface Storage System Near Portal Tailings Filtration Plant Paste Fill Plant Front End Engineering and Design Complete, GR Engineering Completed and Quattro Engineering Well Advanced on Detailed Engineeri
Slide 26: Pastefill Plant Construction Underway
Pastefill Plant Construction Underway TSX: KNT OTCQX: KNTNF Tailings Filter Plant Surface Storage Area Near Portal Tailings filter plant earthworks are complete, and civils are underway, earthworks for the surface storage facility is underway, and concurrently, the underground pastefill plant is pro
Slide 27: Multiple High Priority Near-Mine Targets
Multiple High Priority Near-Mine Targets TSX: KNT OTCQX: KNTNF Multiple High Priority Near-Mine Vein and Porphyry Targets Airborne Geophysics and Target Locations Kora & Kora Deeps (Vein) 1 • Kora open to depth and along strike Kora South & Judd South (Vein) 2 • • Structure extends +1km beyond minin
Slide 28: Significant Pipeline of Highly Prospective Exploration Targets
Significant Pipeline of Highly Prospective Exploration Targets TSX: KNT OTCQX: KNTNF Vein Targets Porphyry Targets Kora/ Skarn Operations Judd Epithermal & Skarn Kora/Judd South Current Exploration Focus Feasibility Exploration Planned Within 24 months Pre-Feasibility Concept Blue Lake Resource Defi
Slide 29: Growing Production & Transformative Discoveries
Growing Production & Transformative Discoveries STAGE 3&4 EXPANSION PROJECT • October,23 2025 Chris Kinver, Vice President Projects and Engineering K1 Vein, Kora Deposit Kainantu Gold Mine 2021 THAYER LINDSLEY AWARD Papua New Guinea (BEST GLOBAL DISCOVERY)
Slide 30: Exploration
Exploration Robert Smillie, VP Exploration
Slide 31: Kainantu Project Area
Kainantu Project Area TSX: KNT OTCQX: KNTNF New Guinea Major Mineral Deposits Regional Geology Kainantu is situated in one of the most prospective geologic districts in Papua New Guinea and the World 31
Slide 32: Kainantu Project Area – in a World Class Au-Cu Province
Kainantu Project Area – in a World Class Au-Cu Province TSX: KNT OTCQX: KNTNF Exceptionally Well-Endowed District 0 100Km • Large mineralized porphyries and vein deposits focused in the New Guinea 0 thrust belt. • Combined, the Eastern Highlands and Morobe Provinces contain in excess of 100 Million
Slide 33: Kainantu Project Area
Kainantu Project Area TSX: KNT OTCQX: KNTNF Large 836.8km2 land package • EL470 – 98.21 km2 (27.17 sub-blocks) EL693 • EL693 – 95.61 km2 (27.99 sub-blocks) • EL1341 – 146.85 km2 (43 sub-blocks) ML150 EL2620 • EL2619 – 159.70 km2 (47 sub-blocks) EL470 EL2619 • EL2620 – 200.52 km2 (59 sub-blocks) EL13
Slide 34: Multiple Projects, Prospects and Targets
Multiple Projects, Prospects and Targets TSX: KNT OTCQX: KNTNF Wide-ranging Exploration Program • Numerous high-ranking targets across all six ELs. • Exceptional land package with huge mineral potential. • Majority of projects and targets lie within the Kainantu Transfer Zone. • Road network (branch
Slide 35: K92 is Proud to Be the Largest Mineral Explorer in PNG
K92 is Proud to Be the Largest Mineral Explorer in PNG TSX: KNT OTCQX: KNTNF K92 Exploration Expenditure (USD) $40.0m $19.4m $20.0m $16.1m $16.4m $12.0m $7.9m $6.2m $1.8m 2018 2019 2020 2021 2022 2023 2024 2025 Post-Stage 3 Expansion, Annual Exploration Budget Target Planning to increase exploration
Slide 36: K92 Exploration Strategy
K92 Exploration Strategy TSX: KNT OTCQX: KNTNF Prioritised Program of Development and Discovery • Expand the current gold Resources - extend Kora and Judd from underground & surface drilling. • Locate and prove up new resources close to the plant to support Stage 4 expansion – focus on vein-hosted p
Slide 37: K92 Exploration Team - Capability & Capacity to Deliver
K92 Exploration Team - Capability & Capacity to Deliver TSX: KNT OTCQX: KNTNF Supercharged Team / Equipment • Highly experienced National and Expatriate Team with country-wide experience. • 290 personnel, including contractors and casuals. • 12 diamond drill rigs – 6 surface (includes contractor rig
Slide 38: Social License to Explore
Social License to Explore TSX: KNT OTCQX: KNTNF Partnering with our Communities • Exploration Team works hand-in-glove with the K92 Community Affairs Team. • The aim is to continue to deepen positive partnerships with local communities to obtain social licence to explore across our ELs. • Our near-m
Slide 39: Exploration Targets Overview – Veins and Porphyries
Exploration Targets Overview – Veins and Porphyries TSX: KNT OTCQX: KNTNF Porphyry Targets Epithermal Targets / Deposits • Tankaunan • Irumafimpa Extension • Kokofimpa (Kokomo) • Timpa • Kora • A1 (Headwaters) • Kora South • Blue Lake • Judd • Efontera • Judd South • Kathnell • Karempe • Yompossa (Y
Slide 40: Geophysical Coverage – ML150 & EL470
Geophysical Coverage – ML150 & EL470 TSX: KNT OTCQX: KNTNF Key Facts • Conductive zones contours (86 Hz) over the geology and known mineralization, geochemical anomalies, porphyry and vein targets. • Impressive correlation of known deposits, both veins and porphyries with conductivity. • Conductivit
Slide 41: Exploration Target: Kora, Kora South, Kora North & Kora Deeps
Exploration Target: Kora, Kora South, Kora North & Kora Deeps TSX: KNT OTCQX: KNTNF Kora Deeps Drilling Has Commenced Targeting to 500m RL over the next 12 months Multiple Highly Prospective Exploration Fronts Being Drilled Concurrently Kora Deeps, Kora North and South Deeps Underway from Twin Incli
Slide 42: Latest Drilling Results Kora-Kora South – K2 Vein
Latest Drilling Results Kora-Kora South – K2 Vein (June 5, 2025) TSX: KNT OTCQX: KNTNF Key Facts • All holes intersected mineralization • Dilatant zone significantly expanded up-dip, located ~100m from existing underground infrastructure — supporting near-term bulk mining potential: • KMDD0844 – 12.
Slide 43: Latest Drilling Results Kora-Kora South – K1 Vein
Latest Drilling Results Kora-Kora South – K1 Vein (June 5, 2025) TSX: KNT OTCQX: KNTNF Key Facts • All holes intersected mineralization • High-grade zone extended up-dip from main underground mining area with higher grades than resource model in multiple zones, including: • KMDD0847 – 4.08 m at 30.9
Slide 44: Judd and Judd South Vein System is Very Underexplored
Judd and Judd South Vein System is Very Underexplored TSX: KNT OTCQX: KNTNF Judd Deeps Drilling Has Commenced Targeting to 500m RL over the next 12 months Judd is Sparsely Drilled, Has at Least 4 Known Veins and Open in All Directions Significant Amount of Drilling Completed Since the Judd Resource
Slide 45: Latest Drilling Results Judd-Judd South – J1 Vein
Latest Drilling Results Judd-Judd South – J1 Vein (June 5, 2025) TSX: KNT OTCQX: KNTNF Key Facts • All holes intersected mineralization • Multiple high-grade intersections recorded continuing to extend high- grade mineralization up-dip and below the main mine: • JDD0221 – 6.10 m at 20.03 g/t AuEq (3
Slide 46: Copper Grade Tenor Increasing to the South towards A1 Porphyry
Copper Grade Tenor Increasing to the South towards A1 Porphyry TSX: KNT OTCQX: KNTNF K2 Vein Copper Grade (%) Long-Section (Looking West) Kora South/Judd South Drill Drive Well Established for Step-Out Drilling 46
Slide 47: Near-Mine Projects: Arakompa and Maniape
Near-Mine Projects: Arakompa and Maniape TSX: KNT OTCQX: KNTNF Arakompa and Maniape Veins Key Facts • Arakompa – Sparsely drilled, open along strike, at depth and along its width. • Located ~4.5km from Kainantu process plant, with similar mineralization to the producing high-grade Kora and Judd vein
Slide 48: Arakompa is a Very Large and High Priority Exploration Project
Arakompa is a Very Large and High Priority Exploration Project TSX: KNT OTCQX: KNTNF Arakompa consists of multiple veins, shears, and disseminated mineralisation resulting in bulk mineralized zones 48
Slide 49: Two Major High-Grade Veins Confirmed to Date – AR1 and AR2
Two Major High-Grade Veins Confirmed to Date – AR1 and AR2 TSX: KNT OTCQX: KNTNF Drilling at Arakompa has delineated two major sub-parallel veins AR1 and AR2, defined over extensive strike and depth Both veins open in multiple directions, with substantial average mineralisation widths of ~3 metres N
Slide 50: Arakompa Lodes
Arakompa Lodes TSX: KNT OTCQX: KNTNF KARDD0025, 196.5 – 211.0m – from 199.0 to 211.0 m is 12.0 m at 11.6 g/t AuEq intersection, within a KARDD0002, 144.28 – 149.80m; within intersection of 7.2m at 24.44 g/t Au, 0.10 % Cu, 13 g/t Ag. broader 23.6 m at 6.57 g/t AuEq intersection. Arakompa Epithermal v
Slide 51: Sizeable Bulk Tonnage Zone Defined & Porphyry-Style Mineralization Discovered
Sizeable Bulk Tonnage Zone Defined & Porphyry-Style Mineralization Discovered TSX: KNT OTCQX: KNTNF Arakompa Target is Very Large: +2km Strike, +800m Vertical and +400m Wide Corridor – Open Along Strike, Depth & Width Southernmost step-out testing 600m x 600m copper-in-soil anomaly intersected signi
Slide 52: Arakompa Porphyry Cu-Au Mineralisation KARDD0065
Arakompa Porphyry Cu-Au Mineralisation KARDD0065 TSX: KNT OTCQX: KNTNF KARDD0065 Key Facts • Targeted both AR1 and AR2 lodes and deeper porphyry target based on 600m x 600m soil Cu-Mo soil anomaly. • Intersected significant Cu-Au mineralization recording 690.4 metres at 0.30% Copper Equivalent (“CuE
Slide 53: KARDD0065: Potassic Alteration, Cu-Au Mineralisation
KARDD0065: Potassic Alteration, Cu-Au Mineralisation TSX: KNT OTCQX: KNTNF Intrusive breccia; thin sulphide veins (S Veins), Potassic-altered diorite; cpy, py, trace Potassic altered Diorite, thin sulphide vein disseminated cpy ,py, trace bn; from interval Bn; from interval 718.5-719.5m network; fro
Slide 54: Arakompa: Cu-Au Ratio and Metal Zonation
Arakompa: Cu-Au Ratio and Metal Zonation TSX: KNT OTCQX: KNTNF Follow-up drilling to KRD0065 S N Step-out drilling • Vertical metal zonation from drill underway core shows increasing temperature of mineral deposition with depth. • Cu-Au ratio increasing southwards. • Two step-out drill holes – 150m
Slide 55: Arakompa is a Growing Very Rapidly
Arakompa is a Growing Very Rapidly TSX: KNT OTCQX: KNTNF Feb 2024 June 2024 Oct 2024 Feb 2025 Sept 2025 19 New Holes Reported (2 Holes Reported) (11 Holes Reported) (30 Holes Reported) (43 Holes Reported) (67 Holes Reported) Arakompa is rapidly & efficiently growing – just over 65% of strike has bee
Slide 56: Arakompa Drill Program Rapidly Expanding – 5x Drill Rig Increase
Arakompa Drill Program Rapidly Expanding – 5x Drill Rig Increase from Q1 2024 TSX: KNT OTCQX: KNTNF Kainantu Gold Mine Process Plant and Accommodation Facilities Area Driven by the Outstanding Drill Results to Date the Number of Rigs Has Increased From 1 at Beginning of 2024 to Now 5 Rigs Operating.
Slide 57: Maniape – High Priority Near-Mine Target
Maniape – High Priority Near-Mine Target TSX: KNT OTCQX: KNTNF Historical Results and Potential • 1.5Km west of Arakompa; 1,100m strike & 220m known vertical. • 16 holes drilled, including: 49 m at 4.1 g/t Au (incl. 12.5 m at 8 g/t Au) and 7 m at 22 g/t. • Work to date indicates Maniape is similar g
Slide 58: Mati-Mesoan – High Priority Near-Mine Target
Mati-Mesoan – High Priority Near-Mine Target TSX: KNT OTCQX: KNTNF Immediately adjacent to ML150 • Very little previous exploration, no drilling – high priority project within 1.6Km of current mine workings. Arakompa • Gold mineralisation hosted in NW trending faults, Maniape parallel to Kora and Ju
Slide 59: Mati-Mesoan Vein Style Similar to Kora – Consultancy Mapping 2025
Mati-Mesoan Vein Style Similar to Kora – Consultancy Mapping 2025 TSX: KNT OTCQX: KNTNF ▪ Sample photos similar to Kora judd 59
Slide 60: Mati-Mesoan – High Priority Target
Mati-Mesoan – High Priority Target TSX: KNT OTCQX: KNTNF Proximity to ML150 • Gold mineralisation and associated faults in similar NW orientation to Kora and Judd veins. Judd ug drilling • Host rock predominantly metasediment, Kora ug drilling same as Kora-Judd system. ML150 boundary • Geologically
Slide 61: Mati-Mesoan – Artisanal Gold Workings
Mati-Mesoan –Artisanal Gold Workings TSX: KNT OTCQX: KNTNF 61
Slide 62: Blue Lake Porphyry
Blue Lake Porphyry TSX: KNT OTCQX: KNTNF Resource Definition • Completed 200m spaced grid for inferred resource category from 12 drillholes in 2021. • Potential to expand porphyry shell down plunge – open at depth. • Target potential Au-rich potassic core. KTDD0018: 836.29 - 839.87m; sericite overpr
Slide 63: Blue Lake Porphyry – Geological Model
Blue Lake Porphyry – Geological Model TSX: KNT OTCQX: KNTNF Lithological Model Alteration Model Stockwork Vein Model Open Open Open Open Open Open Open Open Open Prospective lithology, alteration and stockwork vein model open to depth 63
Slide 64: Blue Lake Porphyry Project – 14.6 moz Maiden Resource
Blue Lake Porphyry Project – 14.6 moz Maiden Resource (August 2022) TSX: KNT OTCQX: KNTNF Blue Lake Resource Summary (August 2022) Large 14.6 moz AuEq Inferred Resource Tonnes Gold Silver Copper Gold Equivalent mt g/t moz g/t moz % mt g/t moz Blue Lake Inferred 686 0.19 4.2 2.4 53.6 0.21 1.4 0.66 14
Slide 65: New Greenfields Discovery – Large Vein System at Wera
New Greenfields Discovery – Large Vein System at Wera TSX: KNT OTCQX: KNTNF Wera Project EL260 & 1341 • Low-sulphidation epithermal gold system with 4Km strike length – open in both directions. • Project identified from airborne geophysics and review of historical data. • Located within the major NN
Slide 66: Wera Veins & Breccia – Multiple Mineralising Events, Visible Gold
Wera Veins & Breccia – Multiple Mineralising Events, Visible Gold TSX: KNT OTCQX: KNTNF Wera Vein System • Multiple mineralising events apparent from rock samples. • Early hydrothermally altered fragments enclosed by later multi- stage crustiform quartz, chalcedonic quartz, adularia, & later drusy q
Slide 67: Wera UAV LIDAR & Magnetic Survey
Wera UAV LIDAR & Magnetic Survey TSX: KNT OTCQX: KNTNF Enhancing Drill Targeting Survey Team • UAV drone aeromagnetic survey completed by Jakarta- based contractors Enmintech in August 2025. • DTM model generated from LIDAR and photogrammetry. • Magnetics has successfully identified structures and m
Slide 68: Ramping up Exploration for 2026 and Beyond
Ramping up Exploration for 2026 and Beyond TSX: KNT OTCQX: KNTNF Intensifying Exploration • Plans to ramp-up exploration activities are well underway. • Budget for 2026 potentially USD$30 million; potential to increase towards USD$40 million in 2027. • Expansion plans well advanced for Exploration a
Slide 69: Geology Modelling – Near-mine and Regional
Geology Modelling – Near-mine and Regional TSX: KNT OTCQX: KNTNF Enhancing Our Geological Expertise B A • The Exploration Team continue to work with our consultants and published research to develop new geologic models at both the near- mine and regional scales. • Improving our understanding of the
Slide 70: Leveraging Our Data and Technology for Future Discoveries
Leveraging Our Data and Technology for Future Discoveries TSX: KNT OTCQX: KNTNF Improved Drillhole Targeting • K92 has an extensive exploration and geoscience database with large of amount of legacy data going back decades. • Our data is a major K92 asset that underpins our exploration programs – ge
Slide 71: Significant Pipeline of Highly Prospective Exploration Targets
Significant Pipeline of Highly Prospective Exploration Targets TSX: KNT OTCQX: KNTNF Vein Targets Porphyry Targets Kora/ Skarn Operations Judd Epithermal & Skarn Kora/Judd South Current Exploration Focus Feasibility Exploration Planned Within 24 months Pre-Feasibility Concept Blue Lake Resource Defi
Slide 72: Aerial Tour of Sites
Aerial Tour of Sites TSX: KNT OTCQX: KNTNF 11 1 10 1 Helipad 2 Mine Portal (800) MATI MESOAN 3 Mine Portal (1300) MANIAPE ARAKOMPA 4 Kora Lode 2 9 3 5 Blue Lake Porphyry JUDD KAREMPE 8 TANKAUNAN 6 Wera 4 KOKOFIMPA TIMPA 7 A1 KORA 7 BLUE LAKE 5 A1 8 Tankaunan 9 Maniape / Arakompa WERA 6 10 Tailings S
Slide 73: Questions
MINING ING.
Slide 74: Mining Operations
Mining Operations David D’Antonio – Head of Mine Technical Services 74
Slide 75: K92 Mining Physicals – Historical Performance
K92 Mining Physicals – Historical Performance TSX: KNT OTCQX: KNTNF 75
Slide 76: Mining Physicals Highlights
Mining Physicals Highlights TSX: KNT OTCQX: KNTNF Tonnes to Surface • Q3-2025 was a Quarterly Record • September 2025 was a Monthly Record • Multiple Daily Records were also achieved in September: o Sept 27th = 5,769t o Sept 29th = 6,404t • Surface Trucks commenced UG operation from the Waste Pass o
Slide 77: Kainantu Mine – Latest Asbuilt (EOM Sept 2025)
Kainantu Mine – Latest Asbuilt (EOM Sept 2025) TSX: KNT OTCQX: KNTNF Kora Incline Puma Vent 1410mRL Drive Old Workings 60m from B/T 1205_FWD_S 1050mRL 1015mRL Kora Decline Twin Kora Twin Incline Incline 77
Slide 78: Life-of-Mine Design + Latest Asbuilt (EOM Sept 2025)
Life-of-Mine Design + Latest Asbuilt (EOM Sept 2025) TSX: KNT OTCQX: KNTNF Asbuilt KORA JUDD Fresh Air Rise 5.0m Puma Vent (completed) Old Workings Drive 1205_FWD_S Material pass 3.0m (completed) Return Air Rise Return Air Rise CN Tower 5.0m 5.0m 550m tall 78 (drilling) (completed)
Slide 79: Transitioning to Tier-1 Mine: Stage 3 & Stage 4 Expansions
Transitioning to Tier-1 Mine: Stage 3 & Stage 4 Expansions TSX: KNT OTCQX: KNTNF Mined Tonnes - Comparison to DFS Mined Tonnes DFS Stage-3 Stage-4 3,000,000 • Stage-3 Expansion is planned to exceed the DFS Total 2,500,000 Mined Tonnes in 2026 and 2027. Tonnes 2,000,000 • Stage-4 Expansion rates achi
Slide 80: Transitioning to Tier-1 Mine: Stage-3 & Stage-4 Expansions
Transitioning to Tier-1 Mine: Stage-3 & Stage-4 Expansions TSX: KNT OTCQX: KNTNF Milled Tonnes - Comparison to DFS Milled Tonnes DFS Stage-3 Stage-4 2,000,000 • Stage-3 Expansion is planned to achieve the DFS milling rates in 2026 and 2027. 1,500,000 Tonnes • Stage-4 Expansion is planned to exceed t
Slide 81: Key Enablers to Achieve Production Ramp-Up
Key Enablers to Achieve Production Ramp-Up TSX: KNT OTCQX: KNTNF Near-Term Enablers PROJECT STATUS IMPACT Upgraded the overhead power line to 800 from 11kV to 22kV. 1. Major Power Upgrade Completed on 19th Oct 2025 UG mine and process plant are now running of the permanent power station. Increases e
Slide 82: Key Enablers to Achieve Production Ramp-Up
Key Enablers to Achieve Production Ramp-Up TSX: KNT OTCQX: KNTNF Long-Term Enablers PROJECT STATUS IMPACT st 1 Material Pass is active. Reduces truck TKM’s requirements and increases total TKM Capacity. 1. Ore & Waste Pass Development 2nd Material Pass to be completed in All mined material will be h
Slide 83: Development Ramp-Up
Development Ramp-Up TSX: KNT OTCQX: KNTNF Multiple Key Enablers To Increase Lateral Development 1245L – 840L Wastepass 1. Commissioning of 1st Material Pass - Reduced trucking TKM requirement + increased TKM capacity 2. Equipment Reliability Improvement + Fleet Expansion - Overhaul (mini-rebuild) of
Slide 84: Additional Mining Production Fronts
Additional Mining Production Fronts TSX: KNT OTCQX: KNTNF Adding Production Capacity • Mining Front #1 is the current mining front for all stope ore. • Mining Fronts #2 and #3 are substantially developed Mining Front #1 and will provide additional stope ore sources from 1Q26 onwards. o These areas a
Slide 85: Mining Front #2 Lateral Development Progress
Mining Front #2 Lateral Development Progress TSX: KNT OTCQX: KNTNF 1130 Level Lateral Development – Low Risk to 2026 Mine Plan • Lateral development has advanced opportunistically, completing significant work well ahead of the next mining front, which will commence from the 1070 Level. • The full mi
Slide 86: Increase in Ore Development
Additional Lateral Development Ore Tonnes TSX: KNT OTCQX: KNTNF Increase in Ore Development - Lateral development has primarily focused on capital waste development for key infrastructure projects and new mining front development in preparation for the Stage 3 Expansion. - As additional levels are o
Slide 87: Underground Mobile Fleet
Underground Mobile Fleet TSX: KNT OTCQX: KNTNF Next Stage 4 Equipment Model Current Fleet TOTAL 12-months Requirements UG Haul Trucks Sandvik TH-545i 8 - 8 7 Surface Haul Trucks Volvo A60J (60t) - 9 9 9 Paste Binder Haulage Trucks Cat 730 (30t) 10 5 5 5 Loaders Sandvik 517i 7 2 9 9 Jumbos Sandvik DD
Slide 88: Primary Ventilation Upgrades
Primary Ventilation Upgrades TSX: KNT OTCQX: KNTNF LOM Ventilation Upgrades PHASE 2 • Was completed in Oct 2025 with the competition of the 5.0m Diameter Fresh-Air- Rise which has increased airflow from 150m3/s to 200m3/s. PHASE 3 • The Puma Vent Drive has 60m to breakthrough and is expected to be c
Slide 89: LOM Ventilation Strategy
LOM Ventilation Strategy TSX: KNT OTCQX: KNTNF • The mine is currently drawing ~200m3/s of K92 LOM Ventilation fresh air from the KORA Incline and Portal 2. The air is currently exhausted through the old Puma Incline and Portal 3 via (5) 132kW fans. • The 6.0mW x 6.0mH Puma Vent Drive (PVD) is ~ 60m
Slide 90: Traffic Management – Twin Portals
Traffic Management – Twin Portals TSX: KNT OTCQX: KNTNF Current System Vent Doors Fan Station 5x 132kW Old Workings Fresh Air Return Air Vent Doors 2-way Traffic Flow in Single Heading Orepass Portal Portal 2 3 • At present, fresh air is drawn in through Portal 2 and directed up the Incline and the
Slide 91: One Way Traffic System – Twin Portals
One Way Traffic System – Twin Portals TSX: KNT OTCQX: KNTNF Planned System Old Workings Fresh Air 1-way Traffic In Portal 2 1-way Traffic out Portal 3 Portal Portal Orepass 2 3 • Once the primary fans are commissioned, the ventilation system will be reconfigured: Ventilation doors and the Portal 3 f
Slide 92: One Way Traffic System – Upper and Lower Mine Connected
One Way Traffic System – Upper and Lower Mine Connected TSX: KNT OTCQX: KNTNF 1-way Traffic In Portal 1 (Kora Incline) 1-way Traffic Out Portal 3 Portal Portal 1 3 • Once the Primary Vent Upgrade is completed and the internal ramp is connected, the entire mine will operate under a one-way traffic sy
Slide 93: Materials Handling Upgrade – Ore & Waste Pass System
Materials Handling Upgrade – Ore & Waste Pass System TSX: KNT OTCQX: KNTNF Old Workings Waste Pass (completed) Waste Pass Orepass 4.0m 4.0m 93
Slide 94: Surface Tele-Remote Bogging To Increase Production Capacity
Surface Tele-Remote Bogging To Increase Production Capacity TSX: KNT OTCQX: KNTNF Surface Tele-Remote Bogging • The surface tele-remote system was commissioned in July 2025, enabling 24-hour operation, including during shift change and blast re-entry. • Currently, three underground loaders are equip
Slide 95: Water Management: Mine Dewatering
Water Management: Mine Dewatering TSX: KNT OTCQX: KNTNF Mine Dewatering Current Mine Dewatering • The current mine dewatering strategy uses secondary pumps to collect water in a central location; it is then discharged down the main decline via 315mm steel pipes using gravity. Upgraded Mine Dewaterin
Slide 96: Water Management: Water Supply
Water Management: Water Supply TSX: KNT OTCQX: KNTNF Phase 2 Clean Water Supply Objective • The LOM clean water strategy combines water collected from the Sturda Weirs from mine dewatering activity and the active dewatering holes in the 890mRL dewatering gallery to supply the underground mining equi
Slide 97: Mining Method – Avoca
Mining Method – Avoca TSX: KNT OTCQX: KNTNF Step 1: Establish Top and Bottom ore drives and crosscuts on both 20m sides (Bogging drive will be on Backfill Charging Access Access top of previously backfilled stopes) Step 2: Drill out the entire panel of stopes as UH or DH (120m) Stope 1 Stope 2 Stope
Slide 98: Mining Method – LHOS with Pastefill
Mining Method – LHOS with Pastefill TSX: KNT OTCQX: KNTNF Step 1: Establish Top and Bottom ore drives (only single access is required) Pastefill line Charging Step 2: Drill out the entire panel of 20m stopes or a single stope + 3 rings. SLOT 1 Access Step 3: Blast the initial slot rise, and producti
Slide 99: Backfill Method Comparison – Pastefill vs Loose Rock Fill
Backfill Method Comparison – Pastefill vs Loose Rock Fill TSX: KNT OTCQX: KNTNF Advantages Disadvantages 1. Higher ore recovery – reduced pillar sterilization; enables 1. High capital cost – Requires upfront investment to construct an bottom-up and top-down mining. underground pastefill plant and re
Slide 100: Summary – Key Takeaways
Summary – Key Takeaways TSX: KNT OTCQX: KNTNF 1. Mining Physicals Trending Upwards • Record quarterly tonnes mined and total tonnes to surface (Q3 2025) • Multiple daily material movement records with surface trucks now being loaded from UG at the 1st wastepass (6.4kt on Sept 29th). 2. Multiple Key
Slide 101: Questions?
Questions?
Slide 102: Major Projects
Major Projects Chris Kinver, VP Projects and Engineering
Slide 103: Kainantu Operation Transformation Nov 2022 – July 2025
Kainantu Operation Transformation…………..Nov 2022 – July 2025 TSX: KNT OTCQX: KNTNF Nov 2022 July 2025 103
Slide 104: Kainantu Gold Mine – Project On A Page
Kainantu Gold Mine – Project On A Page TSX: KNT OTCQX: KNTNF Operational Ramp-up Active Work Package The Stage 3 Expansion facilitates the operational ramp-up of OPERATION; KAINANTU GOLD MINE OPERATION; KAINANTU GOLD MINE OPERATION; KAINANTU GOLD MINE processing capacity from 0.6 Mtpa to 1.2 Mtpa th
Slide 105: Stage 3 Expansion Status
STAGE 3 EXPANSION STATUS TSX: KNT OTCQX: KNTNF KAINANTU MINE - STAGE 3 EXPANSION PROJECT COST REPORT - PORTFOLIO SUMMARY - SEP 2025 Stage 3 Expansion Cost +ve = Under Budget REPORT CURRENCY: USD - United States Dollar -ve = Over Budget Stage 3 Expansion Capital – Portfolio Summary (Sept 2025) Projec
Slide 106: Stage 4 Expansion/Sustaining Capital Status
STAGE 4 EXPANSION/SUSTAINING CAPITAL STATUS TSX: KNT OTCQX: KNTNF KAINANTU MINE - STAGE 4 EXPANSION PROJECT & SUSTAINING CAPITAL COST REPORT - PORTFOLIO SUMMARY - SEP 2025 +ve = Under Budget Stage 4 Expansion/Suscap Cost REPORT CURRENCY: USD - United States Dollar -ve = Over Budget Stage 4 Expansion
Slide 107: Project Stage 3, 4 Expansions & Sustaining Capital
Project Stage 3, 4 Expansions & Sustaining Capital TSX: KNT OTCQX: KNTNF 2025 2026 2027 Q1 Q2 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Project Overview Q3 Q4 Q4 OC;19th Sept • Project transition; The project is 1.2mtpa Process Plant 1.2mpta Process Plant transitioning from Stage 3 Expansion to a combined focus on Susta
Slide 108: 3000 – Stage 3 Process Plant
3000 – STAGE 3 PROCESS PLANT TSX: KNT OTCQX: KNTNF Surge Bin 2022 Floatation 2025 Cyclone/Gravity Process Plant The design, supply, and installation of a process plant. • The Kainantu Mine process plant is engineered to deliver high-performance with a 1.2 Mtpa throughput, optimizing grind size & cru
Slide 109: 3000 – Stage 3 Process Plant – Construction
3000 – STAGE 3 PROCESS PLANT – CONSTRUCTION TSX: KNT OTCQX: KNTNF 2023 2023 Site Establishment – Late 2024 Installation of SAG – Early 2025 Current Current 109
Slide 110: Kainantu Processing Flowsheet – 0.6 Mtpa Stage 2A Plant
Kainantu Processing Flowsheet – 0.6 Mtpa Stage 2A Plant TSX: KNT OTCQX: KNTNF Flowsheet Key Facts • Conventional 2-stage crush • 600,000 tonnes per annum capacity • Ball Mill • Flotation • Flash Float; • Roughers (new tank cells); • Cleaners, and; • Recleaners • Concentrate thickening and Filtration
Slide 111: Stage 2A - Strong Process Plant Recovery Performance
Stage 2A - Strong Process Plant Recovery Performance TSX: KNT OTCQX: KNTNF Recoveries Gold Copper 96.4% 95.8% 95.3% 95.0% 94.6% 95.3% 95.1% 95.1% 94.7% 94.9% 94.6% 93.7% 94.1% 94.2% 93.3% 92.6% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 2024 Updated 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 2024 Updated Average DFS Average
Slide 112: Stage 2A - Strong Process Plant Throughput Performance
Stage 2A - Strong Process Plant Throughput Performance TSX: KNT OTCQX: KNTNF Throughput Key Facts • Stage 2A Plant current power draw is 1.2-1.4 MW at 600,000 tpa 2,389 tpd throughput rates. 2,149 tpd • Stage 3 Expansion Plant has the capacity to run at +5 MW. • Stage 3 Plant’s power draw capacity i
Slide 113: New Standalone Plant – 1.2 Mtpa Mineral Processing Flowsheet
New Standalone Plant – 1.2 Mtpa Mineral Processing Flowsheet TSX: KNT OTCQX: KNTNF Key Points Stage 3 Process Plant Flowsheet • Simple and proven flowsheet, conventional technology 1.2 mpta flotation-gravity processing plant – referred to as the Stage 3 Process Plant. • Single Stage Jaw Crushing (20
Slide 114: Comparison Between Stage 3 vs Stage 2A Process Plants
Comparison Between Stage 3 vs Stage 2A Process Plants TSX: KNT OTCQX: KNTNF Key Points • Addition of a Cleaner Scavenger flotation Circuit • Improved flotation efficiency • Addition of Tailings Thickener • Improved water efficiency • Improved tailings deposition Stage 2A • Addition of Multi Stream A
Slide 115: Strong Commissioning Progress To Date
Strong Commissioning Progress To Date TSX: KNT OTCQX: KNTNF Key Points • Crushing ✓ Easily achieving design 200 t/hr and 100 mm size • Grinding ✓ No issue achieving design 150 t/hr and grind size • Gravity ✓ Commissioned and into optimisation • Flash Flotation ✓ Ready for optimisation • Flotation ✓
Slide 116: 4000 – Permanent Power Station
4000 – PERMANENT POWER STATION TSX: KNT OTCQX: KNTNF SingleArrangement General Line Diagram Control Centre Stage 3 Expansion Complete Delivered a power station with a peak output of 8.8 MW and prime power capability. The system integrates a balanced power network that synchronizes the diesel generat
Slide 117: 2000 – Paste Plant Filter Press
2000 –PASTE PLANT FILTER PRESS TSX: KNT OTCQX: KNTNF Tailings Filter Press Design Tailings Filter Press Construction Paste Plant - TFP Project Scope: The project involves the design and construction of a filtered tailings plant designed to produce a low-moisture filter cake for surface haulage to th
Slide 118: 2000 – Underground Mining; Paste Plant/Binder Storage
2000 – UNDERGROUND MINING; PASTE PLANT/BINDER STORAGE TSX: KNT OTCQX: KNTNF Design Site Establishment & Earthworks Paste Plant – Binder Storage The Binder Storage and Blending Facility is designed to support the underground paste plant operations by enabling efficient delivery, blending, and storage
Slide 119: 2000 – Underground Mining; Paste Plant/Mixer & Pumps
2000 – UNDERGROUND MINING; PASTE PLANT/MIXER & PUMPS TSX: KNT OTCQX: KNTNF Paste Plant Overview 1225 -1205 Tails Silo / Feeder Paste Plant – UG Plant 1225 Tails Tip Project Scope: The design, supply, and installation of an underground paste plant which can mix, pump and distribute a consistent high
Slide 120: 2000 – Underground Mining; Ore & Waste Pass
2000 – UNDERGROUND MINING; ORE & WASTE PASS TSX: KNT OTCQX: KNTNF Initial UG Design L1245 Waste Pass Inclined Grizzly Option Material Handling Operational 4 1325 Project Scope: 7 To facilitate a material handling system capable of moving ore and waste material from upper levels to 840 haulage level.
Slide 121: 2000 – Underground Mining; Primary Fans
2000 – UNDERGROUND MINING; PRIMARY FANS TSX: KNT OTCQX: KNTNF Bulkhead Install (Front view) Self Closing Door Install (Rear view) Primary Fan Station Project Scope: Design, supply, and installation of a primary ventilation fan station; • Airflow rate of 600 m³/s, with mine resistance set at 0.0089 N
Slide 122: 4000 – Site Infrastructure; River Crossing/Haulage Road
4000 – SITE INFRASTRUCTURE; RIVER CROSSING/HAULAGE ROAD TSX: KNT OTCQX: KNTNF Baupa Dual Span Bridge Kasese 10m Culvert Crossing Kokomo Single Span Bridge River Crossing/Haulage Road Project Scope: This project aims to increase the truck haulage capacity of the haulage road connecting the mine to th
Slide 123: 4000 – Site Infrastructure; Haulage Road
4000 – SITE INFRASTRUCTURE; HAULAGE ROAD TSX: KNT OTCQX: KNTNF 123
Slide 124: 4000 – Infrastructure; Warehouse & Workshop
4000 – INFRASTRUCTURE; WAREHOUSE & WORKSHOP TSX: KNT OTCQX: KNTNF Earthworks Completed – Q2 General Arrangement Workshop Workshop: The design, supply, and installation will include the following criteria • An open-plan workshop design strategically enhances operational efficiency and collaboration,
Slide 125: 4000 – Infrastructure; Tailing Storage Facility 1C, 2 & 3
4000 – INFRASTRUCTURE; TAILING STORAGE FACILITY 1C, 2 & 3 TSX: KNT OTCQX: KNTNF Stage 2 – Lift 35/47 Instrumentation Alluvial winning Tailings Storage Facility Project Scope: The 4510 Project will deliver a LOM tailings solution by expanding the existing Tailings Storage Facility (TSF) and construct
Slide 126: 4000 – Infrastructure; New TSF
4000 – INFRASTRUCTURE; NEW TSF TSX: KNT OTCQX: KNTNF New TSF Site Plan Selected Option – ~9 to 11 million m³ Baupa 1 TSF Design LOM TSF Design Project Scope: The design, permitting and construction of a LOM facility to capture tailings material for the operation of the mine: • New TSF Detailed Engin
Slide 127: 4000 – Site Infrastructure; Completed
4000 – SITE INFRASTRUCTURE; COMPLETED TSX: KNT OTCQX: KNTNF Contractor Camp Temporary Power Station (TPS) TSF OHPL Temporary Power Station (TPS) 800 Substation and Switchroom Interim Power Station Warehouse Extension 800 Substation & Switchroom 800 Elec Infrastructure Completion Certificate 127
Slide 128: 4000 – Infrastructure; Completed
4000 – INFRASTRUCTURE; COMPLETED TSX: KNT OTCQX: KNTNF Decant Tower Design TSF Decant Tower Project Scope: The Decant Tower Project successfully established a reliable water management system for the Kainantu's tailings dam by constructing a decant tower and filter zone to enable silt-free water ret
Slide 129: Thank you for your time. Any Questions?
TSX: KNT OTCQX: KNTNF Thank you for your time. Any Questions? 129