K92 Mining Announces Leadership Succession – John Lewins Appointed Non-Executive Chair, David Medilek Appointed Chief Executive Officer and Director

VANCOUVER, British Columbia, Aug. 17, 2026 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) today announced a leadership transition as part of the Company’s ongoing succession planning. David Medilek, K92’s current President and Chief Operating Officer, has been appointed Chief Executive Officer and Director, effective October 1, 2026. Mr. Medilek will succeed John Lewins, who will step down as Chief Executive Officer and assume the role of Non-Executive Chair of the Board. Concurrently, Anne Giardini will transition from Independent Chair of the Board to Lead Director.

As part of the leadership transition, Chris Kinver, K92’s current Vice President, Projects & Engineering, has been appointed Chief Operating Officer, effective October 1, 2026, succeeding Mr. Medilek. Susan Scheepers, who had been serving as K92’s Acting Vice President, Human Resources, has been appointed Vice President, Human Resources, effective August 1, 2026.

Mr. Lewins is a founding director of K92, starting in 2016, serving as its first Chief Operating Officer until transitioning to Chief Executive Officer in August 2017. During his tenure, Kainantu progressed from mine restart in late 2016 to commercial production in early 2018, followed by the delivery of the Stage 2 and Stage 2A Expansions and the substantial completion of the Stage 3 Expansion. As at June 30, 2026, 98% of Stage 3 Expansion capital had been spent or committed, remaining on budget. A new state-of-the-art, 1.2 million-tonne-per-annum process plant has been fully operational since December 2025, performing better than design, and the mine ramp-up is underway. The Company has also achieved major exploration successes across Kora, Judd, Blue Lake and Arakompa, including being awarded the prestigious Thayer Lindsley Award for Best Global Discovery from the Prospectors & Developers Association of Canada (PDAC) in 2021 for the discovery of Kora North.

Mr. Lewins has overseen the development of a highly experienced leadership team and has built strong relationships with the government of Papua New Guinea, landowners and local communities, helping establish K92 as one of the leading taxpayers and a major investor in Papua New Guinea’s mining industry, becoming the country’s largest mineral explorer and a major contributor to the country’s economic and social development.

Anne Giardini, K92 Board Chair, stated, “On behalf of the Board, I would like to thank John for his exceptional leadership and service to K92 over the past decade. John has played a central role in transforming K92 into one of the mining sector’s leading organic growth companies, while maintaining capital discipline and limiting shareholder dilution. His operational leadership, commitment to Papua New Guinea and focus on building a strong team have established a solid foundation for K92’s future.

The Board has undertaken a thoughtful and orderly succession process, and David Medilek is the clear choice to lead K92. David combines technical and operational experience with deep knowledge of K92 and Papua New Guinea, as well as extensive capital markets and corporate strategy experience. He has earned the confidence of the Board and leadership team. We are equally pleased that John will continue to contribute to the success of K92 as Non-Executive Chair. My transition to Lead Director helps to ensure independent oversight and continuity in Board leadership.”

John Lewins, K92 Chief Executive Officer and Director, stated, “It has been an honour and a privilege to be involved in the initial establishment of K92 and to lead the Company for the last decade as we established K92 as a highly profitable mid-tier gold producer. I am extremely proud of what our team has accomplished and grateful for the support and partnership of the government of Papua New Guinea, our landowners, communities, employees, contractors and shareholders. The Stage 3 Expansion process plant has been fully operational and performing better than design since December, 98% of Stage 3 Expansion growth capital has been spent or committed, the project remains on budget and the mine ramp-up is advancing. With an exceptional production growth outlook and exploration pipeline ahead of us, this is the right time to transition leadership.

During this time, I have been deeply engaged with the resource industry in Papua New Guinea including having served on the Council of the Papua New Guinea Chamber of Resources and Energy (“PNG CORE”) for many years. As a Vice President of PNG CORE, I have sought to play a leading role in the engagement of our industry with government and the regulators and intend to continue in this role moving forward.

David and I have worked closely since he joined K92 in 2019. He has played an integral role in shaping and executing our strategy and brings a rare combination of technical, operational, corporate and capital markets experience. I have full confidence in his leadership and look forward to supporting David, the Board and the broader K92 team as Non-Executive Chair. I have tremendous admiration for the people of Papua New Guinea and a deep bond with the country, and I plan to continue travelling there regularly to support David and K92, including maintaining engagement with government on behalf of K92 and the resource industry.

I also intend to remain involved in our social development initiatives, especially through the Kainantu Foundation, which K92 established as a vehicle to promote and expand our efforts in this area. Last month, I was honoured to be appointed Pro-Chancellor of the University of Goroka, Papua New Guinea’s largest university, based in Eastern Highlands Province, where the Kainantu Mine is located. This appointment allows me to continue to contribute to the development of Papua New Guinea and its next generation of leaders through education.”

David Medilek, K92 President and Chief Operating Officer, stated, “I am honoured to be appointed Chief Executive Officer and Director of K92 and grateful to the Board for its confidence in me. John’s leadership and mentorship have been instrumental in K92’s success, and I look forward to continuing to work with him in his new role. K92 is exceptionally well positioned, with a world-class asset, a strong balance sheet and a high-quality team. Our immediate priorities are clear: operate safely and responsibly, execute the Stage 3 Expansion ramp-up and Stage 4 Expansion, continue unlocking Kainantu’s district-scale exploration potential, and deliver sustainable value for Papua New Guinea and our shareholders.

I would also like to congratulate Chris and Susan on their well-deserved appointments. Chris has played a key role in advancing Kainantu’s major expansions and brings extensive experience in underground operations, mine development and project execution, together with deep knowledge of K92, to the Chief Operating Officer role. Susan has demonstrated strong leadership while serving as K92’s Acting Vice President, Human Resources, and brings more than 20 years of human resources experience across the global resources industry, including extensive experience operating in Papua New Guinea. Their appointments reflect the depth of our leadership team and provide strong continuity as we execute our strategy.”

David Medilek Biography

Mr. Medilek is a mining professional with over 19 years of mining capital markets, corporate strategy, technical and operating experience. He joined K92 in 2019 and currently serves as K92’s President and Chief Operating Officer, having previously served as K92’s President and as Vice President, Business Development and Investor Relations. Prior to joining K92, Mr. Medilek was an equity research analyst covering precious metals companies with Macquarie Group Limited, a mining investment banker with Cormark Securities Inc., and a mining engineer with Barrick Gold Corporation. Mr. Medilek holds a Bachelor of Applied Science in Mining Engineering with Distinction from the University of British Columbia, is a Professional Engineer in the Province of British Columbia, and is a CFA® charterholder.*

*CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Chris Kinver Biography

Mr. Kinver is a mining engineer with more than 20 years of experience in underground operations and mine development. He currently serves as Vice President, Projects & Engineering at K92, where he has led major expansion and engineering programs and previously served as Project Director for the Kora Expansion and Mine Manager. Prior to joining K92, Mr. Kinver was Project Manager for OceanaGold Corporation’s Didipio Underground Mine in the Philippines, where he led the safe, on-time and on-budget transition from open-pit mining to a 1.6 Mtpa long-hole stoping underground operation. Earlier, he held senior operational leadership roles with BHP Billiton at the Perseverance Nickel Mine and Barrick Gold Corporation at the Plutonic Gold Mine, both in Western Australia, and worked as a Principal Engineer with Wardell Armstrong LLP. Mr. Kinver holds a Bachelor of Engineering in Mining and Mineral Engineering with Honours from the Camborne School of Mines and a First Class Western Australian Mine Manager’s Certificate.

Susan Scheepers Biography

Ms. Scheepers is a senior Human Resources executive with more than 20 years of leadership experience in the global resources industry. She has held HR leadership roles across site, corporate, and international operations and is recognized for delivering strategic people initiatives that support business performance and organizational growth. Prior to her appointment as Vice President, Human Resources at K92 Mining, Ms. Scheepers served as Acting Vice President, Human Resources and Group Manager, Human Resources. Previously, she was Group Manager, People at Aurelia Metals and General Manager, People and Performance at Geopacific Resources, reporting directly to the Chief Executive Officer in both roles. She also served as Group HR Manager at St Barbara Limited, where she contributed to the turnaround of the Simberi Gold Mine and led the implementation of the Gender Smart Safety Project. Ms. Scheepers holds a Master of Business Administration (MBA) and a Bachelor of Business Administration (Human Resources) from North-West University.

About K92

K92 Mining Inc. is engaged in the production of gold, copper and silver at 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, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing expansions. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022. K92 is operated by a team of mining company professionals with extensive international mine-building and operational experience.

On behalf of the Company,

John Lewins, Chief Executive Officer and Director

For further information, please contact David Medilek, P.Eng., CFA, President and Chief Operating Officer at +1-604-416-4445

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements include, without limitation: (i) the timing and completion of the leadership and Board appointments described herein; (ii) the expected roles of Mr. Lewins, Ms. Giardini, Mr. Medilek, Mr. Kinver and Ms. Scheepers following the transition; (iii) the execution, timing and results of the Stage 3 Expansion ramp-up and the Stage 4 Expansion; (iv) the Company’s ability to advance exploration and unlock the district-scale potential of Kainantu; and (v) the Company’s growth strategy, future operational performance and ability to create long-term sustainable value.

All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors, many of which are beyond our ability to control, that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, without limitation, Public Health Crises, including the epidemic or pandemic viruses; changes in the price of gold, silver, copper and other metals in the world markets; fluctuations in the price and availability of infrastructure and energy and other commodities; fluctuations in foreign currency exchange rates; volatility in price of our common shares; inherent risks associated with the mining industry, including problems related to weather and climate in remote areas in which certain of the Company’s operations are located; failure to achieve production, cost and other estimates; risks and uncertainties associated with exploration and development; uncertainties relating to estimates of mineral resources including uncertainty that mineral resources may never be converted into mineral reserves; the Company’s ability to carry on current and future operations, including development and exploration activities at the Arakompa, Kora, Judd and other projects; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the Stage 4 Expansion; the ability of the Company to achieve the inputs the price and market for outputs, including gold, silver and copper; failures of information systems or information security threats; political, economic and other risks associated with the Company’s foreign operations; geopolitical events and other uncertainties, such as the conflicts in Ukraine, Israel and Palestine; compliance with various laws and regulatory requirements to which the Company is subject to, including taxation; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions, including relationship with the communities in Papua New Guinea and other jurisdictions it operates; other assumptions and factors generally associated with the mining industry; and the risks, uncertainties and other factors referred to in the Company’s Annual Information Form under the heading “Risk Factors”.

Estimates of mineral resources are also forward-looking statements because they constitute projections, based on certain estimates and assumptions, regarding the amount of minerals that may be encountered in the future and/or the anticipated economics of production. The estimation of mineral resources and mineral reserves is inherently uncertain and involves subjective judgments about many relevant factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, Forward-looking statements are not a guarantee of future performance, and actual results and future events could materially differ from those anticipated in such statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause actual results to differ materially from those that are anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.