K92 Mining, Inc. · TSX:KNT
K92 Mining — Investor Presentation (October 2025)
52 slides from K92 Mining's investor presentation, October 2025
Slide 1: Growing Production & Transformative Discoveries
GrowingProduction& Transformative Discoveries INVESTOR PRESENTATION • October 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 (new plan
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) 2.5x 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 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$183m Significant Available Liquidity From Cre
Slide 7: Delivering Sustainable Value – 2024 Sustainability Report
Delivering Sustainable Value – 2024 Sustainability Report TSX: KNT OTCQX: KNTNF • Outstanding Community Humanitarian Initiative awarded by the PNG Chamber of Resources and Energy in 2024 for the K92 Sustainable Livelihoods Agriculture Program Communities • Creating business opportunities for landown
Slide 8: Value Creation Through Discovery
Value Creation Through Discovery TSX: KNT OTCQX: KNTNF May 2017 October / December 2021 September 2023 (Long Sections, Looking West) Kora North Kora and Judd Kora and Judd 1.7 moz at 11.6 g/t AuEq Inferred1 2.3 moz at 9.3 g/t AuEq Measured & Indicated 2.6 moz at 10.0 g/t AuEq Measured & Indicated 2.
Slide 9: Systematically Executing to Become a Tier 1 Mid-Tier Producer
Systematically Executing to Become a Tier 1 Mid-Tier Producer TSX: KNT OTCQX: KNTNF New Process Plant Commissioning Now Targeting Late 2027 4Q 2020 2Q 2023 Underway Commissioning Stage 4 Stage 3 1,800,000 tpa Stage 2 Stage 2A 1,200,000 tpa +400 koz AuEq pa 400,000 tpa 500,000 tpa 300 koz AuEq pa Via
Slide 10: Operational Performance – Since Commercial Production
Operational Performance – Since Commercial Production TSX: KNT OTCQX: KNTNF AuEq Production (koz), Cash Cost ($/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 1Q24 131kt Total Ore Processed (kt) 2Q24 96kt 3Q24 105kt Note: Q1 head grade of 14.9 g/t Au
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 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 14: 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 (Left Image: Top of Pass, Right: Bottom Loading Pocket) The Pass Significantly Improves Material Handling Productivity / Capacity Multiple surface haulage records achieve
Slide 15: Fan Chamber – New Primary Fans To Be Commissioned in H1 2026
Fan Chamber – New Primary Fans To Be Commissioned 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 no
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 Four Sublevels Concurrently 3 Current Status: Developing Five Sublevels Concurrently 4 2026: New Mining Front Once Pastefi
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: Strong PNG Government and Key Stakeholder Support
Strong PNG Government and Key Stakeholder Support 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 Paita TSX: KNT OTCQX:
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 Construction of the New 1.2 Mtpa Process Plant Completed Under Budget 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 - Complete Primary Power Station – New Maintenance Facilities - In Progress Phase 1 Complete (8.8 MW) Significant amount of ancillary packag
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 Completed and Quattro Engineering Well Advanced on Detailed Engineeri
Slide 23: Surface Pastefill Infrastructure Construction Advancing
Surface Pastefill Infrastructure Construction Advancing 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 paste
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 Deeps, Kora North and South Deeps Underway from Twin Incli
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: 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 porph
Slide 30: 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 confirmed two major sub-parallel veins AR1 and AR2, defined over extensive strike and depth Both veins open in multiple directions, with substantial average vein thickness of ~3 metres Note: See
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 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 32: New Greenfields Discovery – Large Vein System at Wera
New Greenfields Discovery – Large Vein System at Wera TSX: KNT OTCQX: KNTNF Wera Vein System Key Facts • Wera – low-sulphidation epithermal gold system • Road accessible and located ~10km SW from Kora and Judd • Target identified from airborne geophysics MobileMT Survey and review of historical data
Slide 33: 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 34: Appendix
MINING INC.
Slide 35: 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 36: 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 37: 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 38: Strong Process Plant Performance
Strong Process Plant 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 DFS Parameter Parame
Slide 39: 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 40: 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 41: 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 42: 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 43: 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 44: 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 45: 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 46: 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 47: 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 48: 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 49: 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 50: 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 51: Arakompa Highlight Intersections From Presentation Images
Arakompa Highlight Intersections From Presentation Images TSX: KNT OTCQX: KNTNF True width True width True width True width Hole_ID From (m) To (m) Interval (m) Gold g/t Silver g/t Copper % Gold Eq Hole_ID From (m) To (m) Interval (m) Gold g/t Silver g/t Copper % Gold Eq Hole_ID From (m) To (m) Inte
Slide 52: Contact
John Lewins CEO & Director Contact: David Medilek, P.Eng., CFA President & COO E-mail: dmedilek@k92mining.com Phone: +1 (604) 416 4445