K92 Mining Announces Expansion of Near-Mine Infrastructure Dilatant Zone, Significant Depth Extension From First Set of Deeps Drill Program Results and Multiple High-Grade Intersections at Kora and Judd

The news release dated February 18, 2026, details extensive drilling results from the Kainantu Gold Mine in Papua New Guinea. K92 reported on 101 diamond drill holes focusing on the Kora, Kora South, Judd, and Judd South deposits, as well as the newly established "Deeps" program. Key highlights include the expansion of a "dilatant zone" (an area of broadening vein width) near existing mine infrastructure at the Twin Incline. High-grade intersections were significant, notably hole JDD0306 which returned 5.45m at 66.08 g/t Au (66.99 g/t AuEq) and KMDD0936 which returned 19.5m at 33.46 g/t Au. The company also confirmed substantial depth extensions at both the Kora and Judd systems. Management announced a 50% increase in the 2026 exploration budget to a range of $31 million to $35 million to aggressively target resource growth.

This news is materially positive as it validates the geological model required to support the company’s transition from a junior producer to a Tier 1 mid-tier producer. - Resource Derisking: The expansion of the dilatant zones near the Twin Incline infrastructure is critical. Because these high-grade, wide zones are within 100-175 meters of current development, they provide high-margin "near-term" ore that supports the ramp-up of the Stage 3 process plant. - Geological Continuity: The "Deeps" program results confirm that the high-grade mineralization at Kora and Judd extends significantly at depth. This is essential for the long-term viability of the Stage 4 expansion, which aims for a 1.8 million tonnes per annum (mtpa) throughput. - Operational Alignment: The grades reported are consistently higher than the current mineral resource estimate (MRE) in several areas, suggesting potential for positive grade reconciliation and resource upgrades in future filings.

K92 Mining operates the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea. The project is a high-grade, intrusive-related gold-copper-silver epithermal vein system. The company has successfully moved through Stage 2A expansion and recently commissioned the Stage 3 expansion (1.2 mtpa). The current strategic focus is the Stage 4 expansion, which involves operating two standalone process plants to reach 1.8 mtpa and production exceeding 400,000 oz AuEq per annum.