K92 Mining Announces Grant of Stock Options
February 03 2020 - 10:42AM
K92 Mining Inc. (“
K92” or
the “
Company”) (TSXV:
KNT;
OTCQB:
KNTNF) announces the grant of
2,234,000 stock options to employees, directors and consultants of
the Company, pursuant to the terms of the Company’s Stock Option
Plan. The options are exercisable at $3.85 per share, expire
five years from the date of grant, and vest in increments over
twelve months from the date of grant.
About K92
K92 Mining Inc. is engaged in the production of
gold, copper and silver from the Kora and Kora North deposits of
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 and
has commenced an expansion of the mine. An updated
Preliminary Economic Assessment on the property was published in
January 2019. 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 at +1-604-687-7130.
www.k92mining.com
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.
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 regarding K92 Mining Inc.’s
future financial, and current and projected operating performance
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 forward-looking
statements in this news release are based on the opinions and
estimates of management as of the date such statements are made and
are subject to important risk factors and uncertainties, many of
which are beyond the Company’s ability to control or predict. 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 Kainantu Gold Mine; the generation of further drilling results;
expectations of future cash flows; expectations of future
production results; expected success of the proposed plant
expansion; potential expansion of resources; any which may or may
not occur. Forward-looking statements and information contained
herein are based on certain factors and assumptions regarding,
among other things: there being no significant disruptions
affecting the Company’s operations; political and legal
developments in Papua New Guinea being consistent with the
Company’s current expectations; the accuracy of K92’s current
mineral reserve and mineral resource estimates; the exchange rate
between the Canadian dollar and U.S. dollar, and the Papua New
Guinea Kina, being approximately consistent with current levels;
prices for fuel, electricity and other key supplies being
approximately consistent with current levels; equipment, labour and
materials costs increasing on a basis consistent with K92’s current
expectations; all required permits, licenses and authorizations
being obtained from the relevant governments and other relevant
stakeholders within the expected timelines and the absence of
material negative comments during the applicable regulatory
processes; the market price of the Company’s securities; metal
price; 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.
Suite 488 – 1090 West Georgia StreetVancouver,
British ColumbiaCanada V6E 3V7
Telephone: +1 (604) 687-7130Facsimile: +1 (604)
608-9110www.k92mining.com
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