VANCOUVER, British Columbia, Feb. 21, 2019 (GLOBE NEWSWIRE) -- K92 Mining Inc. (TSXV: KNT; OTCQX: KNTNF) (“K92” or “the Company”) is pleased to announce it has been named to the TSX Venture Exchange’s 2019 Venture 50. which is an annual ranking of top performing companies from five industry sectors: Mining, Oil & Gas, Clean Technology and Life Sciences, Diversified Industries, and Technology.
The Venture 50 ranking is comprised of the strongest companies on TSX Venture Exchange, selected based on the equally weighted criteria in 2018 of: share price appreciation, trading volume amount and market capitalization growth. Selected Venture 50 companies have seen tremendous growth over the past year, offered excellent returns to their shareholders and are actively traded in the market.
The strong market performance of K92 over the past year has been underpinned by strong fundamental growth and business plan execution. Ongoing production, expansion and exploration work at the high-grade Kainantu Mine has attracted a growing roster of institutional investors to K92, and the Company will be attending both the upcoming BMO Metals and Mining Conference from February 25-27 in Florida, United States and the Prospectors & Developers Association of Canada (PDAC) Conference from March 3-6 in Ontario, Canada.
K92 Chief Executive Officer, John Lewins, stated, “During 2018, K92 established commercial production, achieved cash-flow-positive operations and exceeded the top end of our annual production guidance. We have continued to develop the Kora North deposit from a production perspective through underground development to access greater strike length and in increase of the known resource through exploration and grade control drilling. The year ended strongly, with record setting production in the last quarter of 2018 and the engagement of a second drilling contractor to enable K92 to significantly increase drilling in 2019. In 2018, K92 also announced the positive results of an updated Preliminary Economic Assessment (“PEA”) for the Kainantu Project and plans to publish 2019 production guidance and make a formal decision on expansion of mining and processing operations as recommended in the PEA.”
The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. The Technical Report contains a full description of all underlying assumptions relating to the PEA. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
ON BEHALF OF THE COMPANY,
Chief Executive Officer and Director
For further information, please contact the Company at +1-604-687-7130.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
K92 Mine Geology Manager and Mine Exploration Manager, Mr. Andrew Kohler, PGeo, a Qualified Person under the meaning of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and is responsible for the technical content of this news release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects, or anticipates will or may occur are forward-looking information, including statements regarding the realization of the preliminary economic analysis for the Project, expectations of future cash flows, the proposed plant expansion, potential expansion of resources and the generation of further drilling results which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company’s securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters.. 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.