Blue Lake Porphyry Project

Wholly-owned copper-gold porphyry deposit located approximately 4 km southwest of the producing Kora and Judd deposits at the Kainantu Mine, within exploration licence EL470. Discovered by K92 in 2017 after identification of a mineralized lithocap; two diamond drill programs totalling 26 holes and 16,474.8 m have been completed at a discovery cost below $1/oz AuEq. The maiden inferred resource of 14.6 Moz AuEq makes Blue Lake the fifth largest known mineralized porphyry in Papua New Guinea by pre-mined contained gold-equivalent ounces, after Golpu, Panguna, Ok Tedi and Frieda River. The deposit is a concentrically zoned tonalite porphyry with a metal-rich potassic core (biotite-K feldspar with chalcopyrite/bornite), an in-pit resource with high-grade core, open at depth, with interpreted dimensions of 1,500 m x 1,300 m x 1,100 m. An amended technical report containing the resource was filed March 31, 2025. Future plans target additional mineralized porphyries beneath a 20 km2 lithocap extending to the A1 copper-gold porphyry target, the company's highest priority porphyry target.