Slide 1: Investor Presentation August 2025
INVESTOR PRESENTATION • August 2025 K1 Vein, Kora Deposit Kainantu Gold Mine 2021 THAYER LINDSLEY AWARD Papua New Guinea (BEST GLOBAL DISCOVERY)
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: 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 (commissi
Slide 4: Attractive Valuation - Compelling Re-Rate Opportunity
Attractive Valuation - Compelling Re-Rate Opportunity TSX: KNT OTCQX: KNTNF P / NAV 2025 – 2028E Production Growth (koz AuEq) 2.0x 2025E Prod (koz) 2028E Prod (koz) 1.8x 1,000 1.6x 900 800 1.4x 700 1.2x Peer Average: 1.1x 600 1.0x +33% 500 +132% 0.8x 400 0.6x 300 0.4x 200 0.2x 100 - - Lundin Orla Ne
Slide 5: Located Amongst World Class Geology and Excellent Infrastructure
Located Amongst World Class Geology and Excellent Infrastructure TSX: KNT OTCQX: KNTNF Natural Resource Friendly Jurisdiction Large ~830 km2 land package along major regional • Multiple Senior Mining Companies Operating (Barrick, Harmony, Newmont) structure hosting multiple large world-class • Vibra
Slide 6: 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$183m Significant Available Liquidity From Cre
Slide 7: Delivering Sustainable Value – 2024 Sustainability Report
Delivering Sustainable Value – 2024 Sustainability Report TSX: KNT OTCQX: KNTNF • Outstanding Community Humanitarian Initiative awarded by the PNG Chamber of Resources and Energy in 2024 for the K92 Sustainable Livelihoods Agriculture Program Communities • Creating business opportunities for landown
Slide 8: Value Creation Through Discovery
Value Creation Through Discovery TSX: KNT OTCQX: KNTNF May 2017 October / December 2021 September 2023 (Long Sections, Looking West) Kora North Kora and Judd Kora and Judd 1.7 moz at 11.6 g/t AuEq Inferred1 2.3 moz at 9.3 g/t AuEq Measured & Indicated 2.6 moz at 10.0 g/t AuEq Measured & Indicated 2.
Slide 9: Systematically Executing to Become a Tier 1 Mid-Tier Producer
Systematically Executing to Become a Tier 1 Mid-Tier Producer TSX: KNT OTCQX: KNTNF New Process Plant Commissioning Now 4Q 2020 2Q 2023 Underway Targeting 2H 2027 Stage 4 Stage 3 1,800,000 tpa Stage 2 Stage 2A 1,200,000 tpa +400 koz AuEq pa 400,000 tpa 500,000 tpa 300 koz AuEq pa Via Low Capex Expan
Slide 10: Operational Performance – Since Commercial Production
Operational Performance – Since Commercial Production TSX: KNT OTCQX: KNTNF AuEq Production (koz), Cash Cost ($/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 Unde
Slide 11: 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 Total Ore Processed (kt) 1Q24 131kt 2Q24 96kt Note: Q1 head grade of 14.9 g/t AuEq or 14.3
Slide 12: 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 13: Rapid Ore Transport - Twin Incline Effectively Complete
Rapid Ore Transport - Twin Incline Effectively 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 Undergr
Slide 14: Ore Pass System – Major Milestone with First Tonnes Moved
Ore Pass System – Major Milestone with First Tonnes Moved TSX: KNT OTCQX: KNTNF Underground raise bore site setup First Ore/Waste Pass Tonnes Moved in Early August The Pass will Significantly Improve Material Handling Productivity 14
Slide 15: Fan Chamber – To Be Installed in H1 2026
Fan Chamber – To Be Installed in H1 2026 TSX: KNT OTCQX: KNTNF The fan chamber is very substantial and can deliver airflow up to 4 x current rates Primary Fan Chamber Civil works are approximately 75% complete 15
Slide 16: 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 Two Sublevels Concurrently 3 Current Status: Developing Four Sublevels Concurrently 4 2026: New Mining Front Once Pastefil
Slide 17: Multiple Production Stoping Enhancements Being Introduced
Multiple Production Stoping Enhancements Being Introduced TSX: KNT OTCQX: KNTNF Surface Operated Teleremote System – Commissioned in July Epiroc Easer L Raise Bore – Arrived on Site Late-July Surface operated teleremote system commissioned, allowing for up to 24 hr/day operation (during shift change
Slide 18: Site Visits by Morobe Province, Eastern Highlands Province, and Minister for Mining
Site Visits by Morobe Province, Eastern Highlands Province, and Minister for Mining TSX: KNT OTCQX: KNTNF February 2025 Site Visit – Delegation Lead by March 2025 Site Visit – Delegation Lead by August 2025 Site Visit – Delegation Lead by Governor of Morobe Province Hon. Luther Wenge Governor of EHP
Slide 19: 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 20: Process Plant Commissioning Underway
Process Plant Commissioning Underway TSX: KNT OTCQX: KNTNF Commissioning commenced June 2025 for the new 1.2 mtpa Process Plant 20
Slide 21: 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 – Rooms Now Occupied Primary Power Station – New Maintenance Facilities - In Progress Approaching Completion Construction works on multiple
Slide 22: 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 complete and Quattro Engineering well advanced on Detailed Engineerin
Slide 23: Pastefill Plant Construction Underway
Pastefill Plant Construction Underway TSX: KNT OTCQX: KNTNF Tailings Filter Plant Surface Storage Area Near Portal Earthworks well advanced for the Surface Storage Area Near the Portal and Tailings Filtration Plant Near the Stage 3 Process Plant is Complete. Work on the underground pastefill plant i
Slide 24: 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 25: 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 South from Surface, Kora Deeps, Kora North and South Deeps
Slide 26: 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 27: 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 27
Slide 28: High Priority Exploration Targets: Arakompa and Maniape
High Priority Exploration Targets: 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
Slide 29: 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 Area Unlocked By New Area Unlocked By New Drill Rig Drill Rig Drilling at Arakompa has confirmed two major sub-parallel veins AR1 and AR2, defined over extensive strike and depth with a substantial average vein thicknes
Slide 30: First Program in 32 Years Continues to Define Interpreted Bulk Tonnage Zone
First Program in 32 Years Continues to Define Interpreted Bulk Tonnage Zone TSX: KNT OTCQX: KNTNF Area Unlocked By New Drill Rig Arakompa Target is Very Large: +1.7km Strike, +650m Vertical and 150-225m Wide Corridor Bulk Open Along Strike, Depth and Width Note: See slide 50 for complete grade infor
Slide 31: Arakompa is Growing Very Rapidly
Arakompa is a Growing Very Rapidly TSX: KNT OTCQX: KNTNF Feb 2024 June 2024 Oct 2024 Feb 2025 19 New Holes Reported (2 Holes Reported) (11 Holes Reported) (30 Holes Reported) (43 Holes Reported) Arakompa is rapidly & efficiently growing - only ~50% of strike has been tested. A new heli-supported dri
Slide 32: 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 33: K92 Mining Inc.
MINING INC.
Slide 34: Management & Directors
Management & Directors TSX: KNT OTCQX: KNTNF Management Team Board of Directors Mineral engineer with +35yrs of global experience (Africa, Australia, Asia, N. America Over 35 years' experience as a lawyer, senior executive, director, journalist and author, John Lewins & former Soviet Union) at proje
Slide 35: 2030 GHG Emissions Reduction Target
2030 GHG Emissions Reduction Target TSX: KNT OTCQX: KNTNF 40% lower carbon intensity compared to global average K92 has set a target to reduce Scope 1 and Scope 2 emissions by 25% on a business-as-usual basis by 2030 Kainantu has below industry average emissions and we are committed to further impro
Slide 36: Operational Guidance - Investing in Our Major Expansion
Operational Guidance - Investing in Our Major Expansion TSX: KNT OTCQX: KNTNF Key Figures Key Highlights • Production Growth: Production in the second half of 2025 is expected to Amount be the strongest, with operations ramping up alongside the commissioning and ramp-up of the 1.2 mtpa Stage 3 Expan
Slide 37: Strong Process Plant Performance
Strong Process Plant Performance TSX: KNT OTCQX: KNTNF Recoveries Gold Copper 96.4% 95.8% 95.3% 95.3% 94.6% 95.1% 95.1% 94.9% 94.7% 93.7% 94.1% 94.2% 93.3% 92.6% 91.9% 90.7% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 2024 Updated 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 2024 Updated Average DFS Average DFS Parameter Parame
Slide 38: Kora Deposit Overview & Mining Conditions Summary
Kora Deposit Overview & Mining Conditions Summary TSX: KNT OTCQX: KNTNF Deposit: Intermediate Sulphidation Multiple sub-vertical Au-Cu-Ag sulphide veins Focus is on the K1 and K2 veins, with the system also hosting other veins and link structures AuEq Reserve Grade: 8.6g/t – 6.6g/t Au, 19g/t Ag, 1.1
Slide 39: Judd Deposit Overview & Mining Conditions Summary
Judd Deposit Overview & Mining Conditions Summary TSX: KNT OTCQX: KNTNF Deposit: Intermediate Sulphidation Multiple sub-vertical Au-Cu-Ag sulphide veins, located ~150-200m east of Kora Focus is on the J1 vein, with the system also hosting at least three other veins AuEq Reserve Grade: 8.1g/t – 7.1g/
Slide 40: Kora and Judd Independent Reserve Estimate
Kora and Judd Independent Reserve Estimate TSX: KNT OTCQX: KNTNF Kora and Judd Deposit Reserve Summary (January/2024) Tonnes Gold Silver Copper Gold Equivalent mt g/t moz g/t moz % kt g/t moz Kora Deposit Proven 2.95 7.4 0.70 19 1.9 1.1 31 9.4 0.89 Probable 2.52 5.7 0.46 19 1.6 1.0 26 7.6 0.61 Prove
Slide 41: Kainantu Consolidated NI 43-101 Resources
Kainantu Consolidated NI 43-101 Resources TSX: KNT OTCQX: KNTNF Kora and Judd Deposit Resource Summary (September/2023) Tonnes Gold Silver Copper Gold Equivalent mt g/t moz g/t moz % kt g/t moz Kora Deposit Measured 3.7 8.7 1.0 21 2.5 1.2 45 11.0 1.3 Indicated 3.1 7.0 0.7 22 2.2 1.3 41 9.4 1.0 Measu
Slide 42: Efficient and Systematic Exploration – Kora and Judd
Efficient and Systematic Exploration – Kora and Judd TSX: KNT OTCQX: KNTNF M&I – Kora and Judd (moz AuEq) Inferred – Kora and Judd (moz AuEq) Total – Kora and Judd (moz AuEq) (1) Production Depletion M&I Inferred Production Depletion 8.0 7.4 moz 0.3 moz 9.2 g/t 7.0 6.0 4.5 moz AuEq, 8.5g/t 4.5 moz 4
Slide 43: Latest Drilling Results Kora-Kora South – K2 Vein (June 5, 2025)
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 44: Latest Drilling Results Kora-Kora South – K1 Vein (June 5, 2025)
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 45: Latest Drilling Results Judd-Judd South – J1 Vein (June 5, 2025)
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: Airborne Geophysics Identifies Many New Targets
Airborne Geophysics Identifies Many New Targets TSX: KNT OTCQX: KNTNF Key Facts • Advanced MobileMT deep penetrating airborne geophysics flown over the entire ~830 km2 land package • First major geophysics program completed on property in +10 years • Results demonstrate an extensive untested potenti
Slide 47: Blue Lake Porphyry Project - Significant Potential to Grow Resource Size
Blue Lake Porphyry Project - Significant Potential to Grow Resource Size TSX: KNT OTCQX: KNTNF 10.8 moz AuEq / 2.9 blbs CuEq Maiden Inferred Resource Declared in August 2022 Grade Tenor Increasing with Depth & High Grade Potassic Core is Open at Depth Note: Estimates are based on Technical Report ti
Slide 48: Blue Lake Porphyry Project – 14.6 moz Maiden Resource (August 2022)
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 49: Kora and Judd Highlight Intersections From Presentation Images
Kora and Judd Highlight Intersections From Presentation Images TSX: KNT OTCQX: KNTNF Drill Hole ID Interval (m) True width (m) Gold g/t Silver g/t Copper % Gold Eq Drill Hole ID Interval (m) True width (m) Gold g/t Silver g/t Copper % Gold Eq KUDD0038 28.70 18.08 2.85 25 0.85 4.53 KMDD0816 7.85 7.16
Slide 50: Arakompa Highlight Intersections From Presentation Images
Arakompa Highlight Intersections From Presentation Images TSX: KNT OTCQX: KNTNF Hole_ID From (m) To (m) Interval (m) True width (m) Gold g/t Silver g/t Copper % Gold Eq Hole_ID From (m) To (m) Interval (m) True width (m) Gold g/t Silver g/t Copper % Gold Eq KARDD0002 5.2 225 219.8 112.14 1.45 3 0.07
Slide 51: Contact: dmedilek@k92mining.com
E-mail: dmedilek@k92mining.com Phone: +1 (604) 416 4445