K92 Mining Announces Strong Q2 2026 Financial Results – Record Net Cash Position and Significant Stage 3 Expansion Ramp-Up Progress, with Multiple Operational Records

VANCOUVER, British Columbia, Aug. 10, 2026 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce financial results for the three months ended June 30, 2026.

Production * Strong quarterly production of 46,093 ounces gold equivalent (“AuEq”)(()(1)) or 42,931 oz gold, 1,780,506 lbs copper and 50,109 oz silver (Figure 1), and quarterly sales of 46,682 oz gold, 1,811,181 lbs copper and 49,004 oz silver. * Net of by-product credit basis cash costs of $859/oz gold and all-in sustaining costs (“AISC”) of $1,376/oz gold(()(2)), co-product basis cash costs of $1,045/oz AuEq and AISC of $1,529/oz AuEq(()(2)()). * Record quarterly ore processed of 225,965 tonnes (Figure 2), a 73% increase from Q2 2025 and 59% increase from Q1 2026, with a head grade of 6.7 grams per tonne (“g/t”) AuEq, or 6.2 g/t gold, 0.4% copper and 8.9 g/t silver, with a moderate positive gold grade reconciliation compared to the latest independent mineral resource estimate (September 12, 2023 effective date for Kora and Judd). * Strong metallurgical recoveries in Q2 of 93.8% for gold and 93.2% for copper (Figure 3), exceeding the updated definitive feasibility study (“Updated DFS”) recovery parameter for gold of 92.6% for the 9(th) consecutive quarter (January 1, 2024 effective date). The new 1.2 million tonnes-per-annum Stage 3 Expansion Process Plant has continued to perform well since completion of commissioning, becoming fully operational in December 2025. * Record quarterly mine development of 3,326 metres (a 35% increase from Q2 2025 and 11% increase from Q1 2026), including a new monthly development record of 1,150 metres achieved in May 2026. Subsequent to quarter end, the Company achieved a new monthly development record of 1,220 metres in July, now exceeding the development requirement of both 1.0 km per month for the Stage 3 Expansion and 1.2 km per month for the Stage 4 Expansion. Importantly, this was achieved ahead of the completion of multiple key enablers scheduled for completion in Q3 (see Growth section below), in addition to the planned arrival of an additional jumbo in late Q4, which will further expand our development fleet. * Record quarterly total material mined (ore plus waste) of 426,012 tonnes, driven by the positive impact of the introduction and progressive ramp-up of the second mining front during the quarter, as well as continued benefits to material movement capacity from the delivery of key Stage 3 Expansion infrastructure projects, including the second material pass system in June, the internal ramp in Q1, and the Puma Ventilation Drive in Q1. Financials * Record cash and cash equivalents totaling US$349.4 million, including a record US$310.0 million net cash position. * Quarterly revenue of US$205.2 million, an increase of 113% from Q2 2025. * Quarterly net income of US$84.6 million or US$0.34 per share, an increase of 116% from Q2 2025. * Operating cash flow (before working capital adjustments) for the three months ended June 30, 2026, of US$105.1 million or US$0.43 per share, and earnings before interest, taxes, depreciation and amortization (“EBITDA”)(()(2)()) of US$140.7 million or US$0.57 per share, a 124% and 136% increase from Q2 2025, respectively. * Sales of 46,682 oz gold, 1,811,181 lbs copper and 49,004 oz silver. Gold concentrate and doré inventory of 9,925 oz as of June 30, 2026, a decrease of 2,393 oz over the prior quarter. Growth * As at June 30, 2026, 98% of Stage 3 Expansion growth capital was either spent or committed and remains on budget.