K92 Mining Announces Strong Q3 Production Results - 44,323 oz AuEq Produced Plus 4,893 oz AuEq in Commissioning Stockpile and Significant Stage 3 Expansion Progress Achieved

Executive Summary

• K92 Mining reported strong Q3 2025 results: 44,323 oz AuEq (42,244 oz gold), 1.32 M lb copper and 34,831 oz silver, exceeding the lower end of its annual guidance.
• The Stage 3 Expansion plant construction is complete; commissioning is on schedule with first gold pour and concentrate production expected in H1 2024‑Q4 2025.
• Capital spend for Stage 3 is ~90% committed or expended and remains on budget, de‑risking the expansion and supporting continued throughput growth.

Key Details

• Production: 44,323 oz AuEq (42,244 oz gold), 1,323,538 lb copper, 34,831 oz silver; sales of 45,006 oz gold, 1,480,151 lb copper, 43,271 oz silver.
• Ore Processed: 137,172 t (31% YoY increase); head grade 11.2 g/t AuEq (10.7 g/t gold, 0.47 % Cu, 10.3 g/t Ag).
• Recoveries: Gold 95.0 %, Copper 94.6 % – both above the Updated DFS targets (92.6 % Au, 94.2 % Cu).
• Material Mined: Total 353,770 t (ore + waste); ore mined 152,485 t across 13 levels; mine development 2,477 m.
• Stockpile: End‑Q3 commissioning stockpile of 4,893 oz AuEq, meeting Stage 3 Expansion requirements.
• Stage 3 Expansion: New 1.2 M t/yr process plant construction complete; crushing, grinding and flotation circuits now being commissioned with ore. First gold pour & concentrate production slated for H1 2025‑Q4 2025. 90 % of growth capital spent or committed, on budget.
• Key Construction Milestones:
• Material Pass completed – enabled record daily surface tonnage moves (e.g., 6,404 t on Sep 29).
• Phase 2 ventilation upgrade finished; full upgrade planned for Oct 2025 → +30 % airflow.
• Phase 3 ventilation (Puma Drive) ~70 m from breakthrough; target Q4 completion.
• Decline‑Incline Convergence project: 258 m advanced in Q3, <370 m remaining; slated for Q1 2026.
• Surface tele‑remote loader system operational – 24 h underground loader control from surface.
• Primary Power Station Phase 1 (8.8 MW) commissioned; Phase 2 to reach 15.2 MW by H1 2026.
• Future Capital Projects:
• Pastefill plant contracts awarded; detailed engineering complete, civil works underway.
• Surface tailings filtration plant design finished; early earthworks started.
• Stage 4 ventilation upgrade (two 2 MW VSD fans) scheduled for Q4 2025 completion; electrification planned H1 2026.
• Guidance: On track to meet 2025 production guidance of 160,000–185,000 oz AuEq.

Notable Quotes

“The third quarter marked another strong period of progress… commissioning of the new 1.2 million‑tonne‑per‑annum Stage 3 Expansion Process Plant nearing completion… we are well‑positioned to achieve our 2025 production guidance.” – John Lewins, CEO & Director

All forward‑looking statements are subject to risks and uncertainties detailed in the release.