VANCOUVER, British Columbia, May 12, 2025 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce financial results for the three months ended March 31, 2025. Production Strong quarterly production of 47,817 ounces gold equivalent (“AuEq”)(1) or 45,735 oz gold, 1,141,379 lbs copper and 34,085 oz silver, achieving the second highest quarterly production on record. Production exceeded budget and delivered a 74% increase from Q1 2024.Net of by-product credit ...

VANCOUVER, British Columbia, May 05, 2025 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) announces with tremendous sadness the passing of our fellow director and colleague, Graham Wheelock. Graham served on K92’s Board of Directors continuously from February 2016, having been appointed to the Board of K92 when the Company first began trading in 2016. Graham’s extensive mining career as a geologist and mining professional spanned over 40 years working for international ...

Core Viewpoint - Great Pacific Gold Corp. has announced a spin-out transaction to distribute shares of a new company, Walhalla Gold Corp., which will own the Walhalla Gold Project in Victoria, Australia, to its shareholders [1][4]. Transaction Details - The spin-out will allow each shareholder of Great Pacific to receive one share of Walhalla for every share they hold in Great Pacific [6][14]. - Great Pacific will receive a one-time cash payment of $1.5 million from 1537559 B.C. Ltd. (Finco) as part of the transaction [3][14]. - Walhalla will retain a 2% Net Smelter Royalty (NSR) on the Walhalla Gold Project [6][14]. Walhalla Gold Project Overview - The Walhalla Gold Project spans over 1,400 square kilometers in Victoria and has a history of gold production totaling 1,510,309 ounces at a grade of 33.59 g/t gold [6][7]. - The project includes a high-priority greenfield target called Pinnacles, which features a 400m x 1,100m gold mineralized aplitic dyke ready for immediate drilling [5][6]. Historical Production and Exploration - The Walhalla Gold Project has a prolific history with significant past production and multiple areas with historic mines, many of which have not undergone modern exploration [7]. - Notable historic production includes Cohen's Reef and Longfellows Reef, with significant grades reported from previous drilling [7][8]. Future Plans and Structure - A proposed management team and board of directors for Walhalla will be announced, and Finco will issue a total of 10 million common shares to the new management team as part of the spin-out [10][12]. - The capital structure of Walhalla will include the issued shares of Great Pacific and Finco after the completion of the spin-out [11][12].

Company Overview - Great Pacific Gold Corp. has engaged ICP Securities Inc. for automated market making services, starting April 30, 2025, for an initial term of four months at a monthly fee of C$7,500 [1][2] - The company focuses on developing gold-copper resources from exploration-stage projects in Papua New Guinea and Australia [4] Projects in Papua New Guinea - Kesar Project: A greenfield exploration project with high-priority targets, showing high grades of gold in outcrop and elevated gold in soil grades [4] - Wild Dog Project: A brownfield exploration project with a history of small-scale gold mining, containing numerous epithermal and porphyry targets [4] - Arau Project: Contains the Mt. Victor exploration target with potential for high sulphidation epithermal gold-base metal deposits; Phase 1 drilling results are pending [4][5] Projects in Australia - Lauriston Gold Project: Located adjacent to Agnico Eagle's Fosterville tenements, with a discovery hole intersecting 8m at 105 g/t gold; the company is evaluating strategic alternatives for value creation [8] - Walhalla Gold Belt Project: Comprises over 1,400 km² of concessions with a high-priority greenfield target called Pinnacles, which is fully permitted and ready for drilling [8]

Core Transaction Details - Great Pacific Gold Corp. has completed the sale of its Reedy Creek and Providence Projects in Australia to Golden Cross Resources Inc. for a total consideration of $1,000,000 in cash and 6,000,000 common shares of Golden Cross [1][4] - The cash payment included a $500,000 deposit and another $500,000 paid at the closing of the transaction [4] - The common shares issued will have varying resale restrictions, with 800,000 shares free from restrictions, while the remaining shares will be released in tranches over time [4] Related Party Transactions - Certain insiders of Great Pacific Gold participated in the transaction by subscribing for securities worth $65,000 in Fundco, which was acquired by Golden Cross [3] - The company is exempt from obtaining a formal valuation and minority shareholder approval for this related party transaction as it does not exceed 25% of the fair market value of the company's market capitalization [3] Future Financial Considerations - Currawong Resources Pty Ltd, a subsidiary of Great Pacific Gold, has the right to receive up to $3,000,000 in post-closing payments from Providence, contingent on specific milestones related to mineral resource establishment and commercial production [4] Company Overview - Great Pacific Gold holds a portfolio of exploration-stage projects in Papua New Guinea and Australia, focusing on developing gold-copper resources [4] - The company is also in the process of divesting certain non-core assets, including the Golden Mountain and Everton Projects in Australia [5] Exploration Projects - The company has several key exploration projects, including the Kesar Project, Wild Dog Project, Arau Project, Lauriston Gold Project, and Walhalla Gold Belt Project, each with unique geological features and exploration potential [8]

Core Viewpoint - South Pacific Metals Corp. has acquired a man-portable diamond drill to enhance its gold and copper exploration efforts in Papua New Guinea, following a successful financing of C$6.3 million, which positions the company to advance its projects more aggressively [1][3]. Drill Rig Acquisition - The MultiPower MP500 Diamond Core Drill will facilitate early-stage target testing of high-grade gold and copper structures, with drilling expected to commence shortly after the equipment's arrival at the end of May [2]. - Dean Williamson, a former exploration operator from K92 Mining Inc., will lead the in-country drill crew for the 2025 drilling campaign [2]. Project Updates Osena Project - Focus is on the Ontenu Cu-Au Prospect, a large-scale copper-gold porphyry complex, with field sampling underway at Ontenu NE, which may host lode-gold style mineralization [4]. - Recent trench results from Ontenu Central include 79 meters averaging 0.75 g/t Au, with notable samples reaching up to 8.82 g/t Au [4]. Anga Project - Detailed soil grid sampling at the Irinke Prospect has defined a 2 km-wide mineralized corridor, similar to K92's Arakompa Discovery [5]. - A geochemical study confirmed the Arakompa-like signature of the Irinke target, indicating further mineralization potential [5]. Kili Teke Project - The project has an Inferred Mineral Resource of 1.81 million ounces of gold and 802,000 tonnes of copper, with significant exploration opportunities [7]. - Recent drilling by the previous operator returned high-grade results, including 12.98% Cu and 11.75 g/t Au over 7.8 meters [8]. May River Project - The Skygate Cu-Au Trend, including the Skiraisa Gold Breccia Prospect, has been prioritized for exploration, with historical drilling intercepts showing promising results [9]. - The Ufuo Prospect has also demonstrated high-grade polymetallic potential, with historical results including 19 meters at 11.47% Cu [9]. Company Overview - South Pacific Metals Corp. operates across a 3,100 km² land package in Papua New Guinea, focusing on gold and copper exploration in proximity to major producers [11][12]. - The company aims to leverage its strong treasury and experienced teams to drive discovery across its portfolio of projects: Osena, Anga, Kili Teke, and May River [11].