711 run 2023

( MENAFN - GlobeNewsWire - Nasdaq) Proposed merger would add a differentiated Phase 3 TROP2 Antibody-drug Conjugate (ADC) to the combined company's pipeline PALO ALTO, Calif., Dec. 27, 2024 (GLOBE NEWSWIRE) -- Vincerx Pharma, Inc. (Nasdaq: VINC), a biopharmaceutical company aspiring to address the unmet medical needs of patients with cancer through paradigm-shifting therapeutics, today announced that it has entered into a binding term sheet for a proposed merger with Oqory, Inc., a privately-held, clinical-stage company developing ADCs for the treatment of multiple oncology indications. Upon completion of the proposed merger, Oqory, Inc. will merge with Vincerx Pharma, Inc. Post-closing, Oqory equity holders are expected to own approximately 95% of the combined entity, while Vincerx equity holders will hold about 5%. The transaction includes a minimum fully diluted equity value of $13.66 million for existing Vincerx stockholders at closing and, as a condition to the closing of the merger, completion of a concurrent offering of Vincerx equity securities of at least $20 million. Additionally, Oqory-designated investors will provide interim financing to Vincerx of $1.5 million in two tranches, approximately $1,000,000 of which was funded today through the issuance of common stock and pre-funded warrants along with accompanying common stock warrants and approximately $500,000 of which will be funded on or prior to January 31, 2025. The merger is subject to customary closing conditions, including due diligence, regulatory approvals, negotiation of a definitive merger agreement, stockholder approval from both parties, completion of the minimum $20 million financing, and the continued listing of Vincerx's common stock on Nasdaq. Vincerx is also implementing additional streamlining and cost-control measures, including a workforce reduction, as it pursues due diligence and transaction-related work. As part of this workforce reduction, Dr. Ahmed Hamdy, Chairman and Chief Executive Officer (CEO), has stepped down as CEO but will remain as Chairman. Dr. Raquel Izumi has stepped down as President and Chief Operations Officer and taken over as Acting CEO in a consulting capacity. Alexander Seelenberger has stepped down as Chief Financial Officer, and Kevin Hass, the Company's Vice President and Controller, has taken over as Acting Chief Financial Officer. Mr. Seelenberger has agreed to provide ongoing assistance in a consulting capacity to assist the Company as it pursues its strategic efforts. “This strategic transaction highlights Vincerx's commitment to develop ADCs with improved safety profiles that allow patients to thrive on-rather than endure-their cancer therapies,” said Raquel Izumi, Ph.D., Acting Chief Executive Officer.“Oqory's anti-TROP2 ADC has shown favorable efficacy and safety in the clinic. Among approximately 150 treated patients, results include an 83% overall response rate and 100% disease control rate in first-line triple-negative breast cancer (TNBC; n=30). Unlike other TROP2 ADCs in Phase 3, no cases of interstitial lung disease or Grade 3 and above stomatitis have been reported. Oqory's Phase 3 studies of OQY-3258 are ongoing to confirm these promising findings.” About OQY-3258 (also known as ESG401) OQY-3258 is Oqory's anti-TROP2 ADC with an optimized enzyme-dependent linker technology and an SN-38 payload with established efficacy and manageable side effect profile. OQY-3258 has completed Phase 1/2 development in over 150 patients with solid tumors, including metastatic HR+/HER2- and triple-negative breast cancer. OQY-3258 has shown efficacy in these patients, including reduction of brain metastasis and responses in heavily pretreated patients. To date, OQY-3258 has exhibited a differentiated safety profile vs. Trodelvy and other TROP2 ADCs in Phase 3 development. Notably, no interstitial lung disease or ocular surface events have been observed. Gastrointestinal effects have been mild and mainly Grade 1/2. Neutropenia and leukopenia have been the major AEs, which were manageable and did not result in discontinuation of study drug. OQY-3258 is being evaluated in a Phase 3 study as first-line treatment in patients with unresectable recurrent or metastatic triple-negative breast cancer (NCT06732323 ) and in a Phase 3 study in patients with unresectable locally advanced or metastatic HR+/HER2- breast cancer (NCT06383767 ). About Oqory, Inc. Oqory, Inc. is an innovator in the field of ADCs with expertise in advancing targeted cancer therapies. The Company's pipeline includes multiple ADC programs, with two currently in clinical development and several next-generation ADCs in preclinical stages. These programs are designed to address critical unmet needs in indications such as breast cancer, non-small cell lung cancer, small cell lung cancer, multiple myeloma, and other metastatic solid tumors. Powered by a proprietary ADC platform, Oqory is delivering therapies that have demonstrated promising efficacy and safety paving the way for improved patient outcomes. About Vincerx Pharma, Inc. Vincerx Pharma, Inc. is a clinical-stage biopharmaceutical company committed to developing differentiated and novel therapies to address the unmet medical needs of patients with cancer. Vincerx's pipeline consists of a next-generation ADC, VIP943, currently in Phase 1; a small molecule drug conjugate, VIP236, which has completed its Phase 1 study; a CDK9 inhibitor, enitociclib, which has completed a Phase 1 monotherapy study; a preclinical ADC, VIP924; and VersAptxTM, a versatile, next-generation bioconjugation platform. Vincerx is based in Palo Alto, California, and has a research subsidiary in Monheim, Germany. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the“safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, expectations and events, can generally be identified by the use of forward-looking terms such as“believe,”“expect,”“may,”“will,”“should,”“would,”“could,”“suggest,”“seek,”“intend,”“plan,”“goal,”“potential,”“on-target,”“on track,”“project,”“estimate,”“anticipate,” or other comparable terms. All statements other than statements of historical facts included in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, the entry into a definitive merger agreement; the anticipated terms and closing of the merger, the $20 million equity investment, and the amount and timing of the interim financing; the expected ownership structure and value to Vincerx stockholders upon closing of the merger; the anticipated benefits of a merger transaction; and the clinical results of Oqory's product candidates. Forward-looking statements are neither historical facts nor assurances of future performance or events. Instead, they are based only on current beliefs, expectations, and assumptions regarding future business developments, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Forward-looking statements are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside Vincerx's control. Actual results, conditions, and events may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results, conditions, and events to differ materially from those indicated in the forward-looking statements include, but are not limited to, Vincerx's capital requirements, availability and sufficiency of capital, and cash runway; the ability of the parties to enter into a definitive merger agreement and the final terms thereof; the parties' ability to satisfy the conditions precedent to the merger, including stockholder approval; the closing of the merger; the risk that any definitive agreement is terminated after it is entered into but before consummation of any proposed merger;; Vincerx's reliance on receipt of interim funding; market acceptance of the combined company; risks associated with clinical development of the Vincerx and Oqory product candidates; general economic, financial, legal, political, and business conditions; and the risks and uncertainties set forth in Vincerx's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 and subsequent reports filed with the Securities and Exchange Commission by Vincerx. Forward-looking statements speak only as of the date hereof, and Vincerx disclaims any obligation to update any forward-looking statements. Vincerx and the Vincerx logo are trademarks of Vincerx. This press release also contains trademarks and trade names that are the property of their respective owners. Contacts: Gabriela Jairala Vincerx Pharma, Inc. ... Totyana Simien Inizio Evoke Comms ... MENAFN27122024004107003653ID1109035791 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Project 2025 backers will spend $1 million to pressure GOP senators to confirm Pete Hegseth

North Dakota’s outgoing Gov. Doug Burgum used his final budget address to state lawmakers on Dec. 4 to advocate for education, housing, and child care funding to help grow the state’s workforce. Addressing a joint session of the state’s Legislative Assembly, Burgum noted that despite inflation and a growing population, North Dakota’s economic position remains “strong” with full reserve funds and revenues exceeding initial projections for the current fiscal period. “Today, we offer you a budget roadmap to continue down the path of even greater prosperity with ... a focus on workforce. And we do that by supporting families; supporting healthy, vibrant communities; by investing in education, critical infrastructure. And we’ll position North Dakota for even more long-term success,” the governor said. Proposing a slightly decreased budget of just under $19.6 billion for the next two years, he encouraged support for a $95 million housing package, a $50 million educational savings fund, and $19 million for child care initiatives. “Housing, just like child care, it’s workforce infrastructure,” Burgum said, noting that the costs and availability of both influence where workers choose to live. His proposals focus on addressing the state’s housing shortage and expanding child care availability and affordability for families. Meanwhile, the recommended Educational Savings Account fund would serve to bolster school choice by making funds available to every student for pre-approved programs and services. The governor also called for tax reform—including the eventual elimination of the state’s income tax. “If you tax income ... you’re taxing workforce,” Burgum said. “Energy states have figured this out. Texas, Wyoming, and Alaska all have zero income tax. Our neighbor, South Dakota, zero income tax. These are states that we compete directly with for workforce.” Burgum presided over an overhaul of North Dakota’s income tax system in 2023, when the state replaced its five existing tax brackets with a new three-bracket system with lower rates. His remarks come less than two weeks before his successor, Republican Kelly Armstrong, is set to be sworn in. The two-term governor announced in January that he would not seek reelection after dropping out of the Republican presidential primary race and endorsing then-former President Donald Trump. Trump, now president-elect, has tapped Burgum to lead both the Department of the Interior and the newly formed National Energy Council. “This Council will oversee the path to U.S. energy dominance by cutting red tape, enhancing private sector investments across all sectors of the Economy, and by focusing on innovation over longstanding, but totally unnecessary, regulation,” Trump said in announcing Burgum’s appointment. North Dakota is a major U.S. energy producer and ranks third in the nation in both crude oil reserves and production, according to the U.S. Energy Information Administration. The state also contains roughly 2 percent of the U.S. gas reserves and accounted for about 4 percent of the nation’s coal production last year. As chairman of the National Energy Council, Burgum will also have a seat on the National Security Council, Trump said. Burgum’s nomination for interior secretary is subject to Senate confirmation. Sen. John Hoeven (R-N.D.), who is currently the top Republican on the Senate Energy and National Resources Committee, said Burgum is “the right choice” for the job. “I’m working to get him confirmed ASAP,” Hoeven wrote in a Nov. 26 social media post following a meeting in which the two North Dakotans reportedly strategized on how to “Make America Energy Dominant.”“The View” co-hosts got into another tense political discussion while disagreeing over the validity of President-elect Donald Trump’s new pick for attorney general during Friday’s episode. The co-hosts –– Joy Behar, Sara Haines, Ana Navarro, Sunny Hostin and Alyssa Farah Griffin –– were discussing Trump picking Pam Bondi after Matt Gaetz withdrew amid his controversial sexual misconduct allegations. While Haines, Navarro and Griffin were thankful for the change, Hostin argued that Bondi was just as “dangerous” as Gaetz. “I believe she’s a dangerous pick as well, because she supported Trump’s false election claims,” Hostin said, referring to Trump’s refusal to accept his 2020 presidential defeat . “She was involved in the effort to overturn the results, and so that is now the person that is going to be our chief law enforcer?” Behar, 82, and Navarro, 52, quickly interrupted, and Navarro defended Bondi’s record and joked, “What’s a little election denialism between friends? Everything in life is relative!” Hostin, 56, appeared stunned and quipped, “Election denialism is a very big deal, Ana.” “We got to take the wins where we can find them, folks,” Griffin, 35, chimed in, while also adding that Bondi is “also qualified” for the role. Navarro piped up again and asked if she was allowed to “continue saying” her opinion on Bondi being a better choice than Gaetz. “One at a time!” Behar said and clapped, while the rest of the four women continued to talk at the same time. Hostin got the floor next and reminded her co-hosts that they cannot “minimize some of the things” Bondi has done, when she is “supposed to be the people’s attorney.” Haines, 47, began talking before Hostin finished her thoughts and said, “Agree, but I would still take her over Matt Gaetz!” “You can take her over Matt Gaetz, but can’t minimize denying an election,” Hostin argued, to which Haines denied “minimizing” those claims. Griffin then the chance to speak and pointed out that Gaetz had “dreadful character flaws” while also being “deeply unqualified” –– unlike Bondi. “She’s been the Florida attorney general, she’s been a prosecutor, she is going to get confirmed by the senate [and] republicans really like her,” Griffin said. However, Hostin was still adamant to make her point and reiterated that Bondi is an “election denier.” “I know, but no one’s going to be perfect under Donald Trump,” Griffin replied. Behar –– who acted as the moderator with Whoopi Goldberg out –– once again urged the ladies to stop interrupting each other and shouted, “One at a time!” Navarro and Hostin continued to go back and forth for a few more seconds before Behar interjected one final time. The tense argument came just two days after Hostin and Griffin got into a heated debate over school voucher tax credits. Hostin and Griffin spoke over each other several times and made it hard to understand their points, so Goldberg, 69, jumped in and scholed them. “There’s no last thing being said here right now,” Goldberg said before cutting to commercial. “No one can hear what anyone’s saying.”The standard Lorem Ipsum passage, used since the 1500s "Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" 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COLEEN Rooney has wowed I'm A Celebrity fans with her washboard stomach after stripping off for a jungle shower. The WAG, 38, headed straight to the waterfall after getting covered in thousands of critters during the latest Bushtucker Trial. The Arcade Of Agony trial was so horrific that Coleen needed help from a medic to get a lodged bug out of her ear with a syringe. The star tried to remain calm as the insect was washed away with a fast shot of saline. Once her ordeal was over, Coleen gathered up a towel and some clean clothes before visiting the waterfall shower. She was then shown washing her hair while wearing a black tankini. READ MORE ON COLEEN ROONEY As she tilted her head backwards, the mum-of-four wowed viewers at home with her impressive figure. Once washed and clean, Coleen then sat in camp and chatted to her jungle pals in red shorts and a fresh, black bikini top. Writing on X, one fan said: "#Coleen in the shower and sitting in her bikini top 😍." Another added: "What a woman Coleen Rooney is." Most read in I’m A Celebrity 2024 And a third penned: "I love Coleen, love her." This is the second time Coleen has wowed I'm A Celeb viewers with her impressive body in the shower since the series begun. In the early days of jungle life, the star was the only famous face in camp willing to wash in the freezing water. The weather in camp had been awful and the other celebrities were refusing to strip off to get clean. Coleen's campmate Danny Jones even said: "Since it’s rained I’ve not washed. Don’t fight it, just stink! What do spiders do? "They don’t get up and shower, do they? They just go, ‘I’m gonna go out for the day'." I'm A Celebrity continues tomorrow at 9pm on ITV1/ ITVX i'm A Celebrity is back for its 24th series, with a batch of famous faces living in the Aussie jungle. The Sun's Jake Penkethman takes a look at the stars on the show this year.. Coleen Rooney - Arguably the most famous name in the camp, the leading WAG, known for her marriage to Wayne Rooney , has made a grand return to TV as she looks to put the Wagatha Christie scandal behind her. The Sun revealed the mum-of-four had bagged an eye-watering deal worth over £1.5million to be on the show this year making her the highest-paid contestant ever. Tulisa - The popstar and former X Factor judge has made her triumphant TV comeback by signing up to this year's I'm A Celeb after shunning TV shows for many years. Known for being a member of the trio, N-Dubz , Tulisa became a household name back in 2011 when she signed on to replace Cheryl on ITV show The X Factor in a multi-million pound deal. Alan Halsall - The actor, known for playing the long-running role of Tyrone Dobbs on ITV soap opera Coronation Street , was originally signed up to head Down Under last year but an operation threw his scheduled appearance off-course. Now he has become the latest Corrie star to win over both the viewers and his fellow celebrities. Melvin Odoom - The Radio DJ has become a regular face on TV screens after rising to fame with presenting roles on Kiss FM, BBC Radio 1 and 4Music. Melvin has already been for a spin on the Strictly dancefloor and co-hosted The Xtra Factor with Rochelle Humes in 2015 but now he is facing up to his biggest challenge yet - the Aussie jungle . GK Barry - The UK's biggest social media personality, GK, whose real name is Grace Keeling, has transformed her TikTok stardom into a lucrative career. Aside from her popular social media channels, she hosts the weekly podcast, Saving Grace, and regularly appears on ITV talk show, Loose Women . She has even gone on to endorse popular brands such as PrettyLittleThing, KFC and Ann Summers. Dean McCullough - A rising star amongst this year's bunch of celebs , Dean first achieved notability through his radio appearances on Gaydio and BBC Radio 1. He was chosen to join the BBC station permanently in 2021 and has featured prominently ever since. He has enjoyed a crossover to ITV over the past year thanks to his guest slots on Big Brother spin-off show, Late & Live. Oti Mabuse - The pro dancer has signed up to her latest TV show after making her way through the biggest programmes on the box. She originally found fame on Strictly Come Dancing but has since branched out into the world of TV judging with appearances on former BBC show The Greatest Dancer as well as her current role on ITV's Dancing On Ice . Danny Jones - The McFly star was drafted into the programme last minute as a replacement for Tommy Fury. Danny is the second member of McFly to enter the jungle , after Dougie Poynter won the show in 2011. He is also considered a rising star on ITV as he's now one of the mentors on their Saturday night talent show, The Voice , along with bandmate Tom Fletcher . Jane Moore - The Loose Women star and The Sun columnist is braving the creepy crawlies this year. The star is ready for a new challenge - having recently split from her husband . It will be Jane's first foray into reality TV with the telly favourite having always said no to reality shows in the past. Barry McGuigan - Former pro boxer Barry is the latest fighting champ to head Down Under following in the footsteps of Tony Bellew and Amir Khan . It comes after a tough few years for Irish star Barry, who lost his daughter Danika to bowel cancer . He told The Late Late Show in 2021: "She was such an intrinsic part of the family that every day we ache." Maura Higgins - The Irish TV beauty first found fame on Love Island where she found a brief connection with dancer Curtis Pritchard . Since then, she has competed on Dancing On Ice as well as hosting the Irish version of the beauty contest, Glow Up. Since last year, she has been working on building up her career in the US by being the social media correspondent and host of Aftersun to accompany Love Island USA. She even guest hosted an episode of the spin-off, Love Island Games, in place of Maya Jama last year. Rev. Richard Coles - Former BBC radio host the Rev Richard Coles is a late arrival on I’m A Celebrity , and he's ready to spill the beans on his former employer. The former Communards and Strictly star , said the BBC did not know its a**e from its elbow last year. An insider said: "Rev Coles will have a variety of tales to tell from his wild days as a pop star in the Eighties, through to performing on Strictly and his later life as a man of the cloth."Seattle (7-5) at Arizona (6-6) Sunday, 4:05 p.m. EST, CBS BetMGM NFL Odds: Cardinals by 2 1/2. Series record: Seahawks lead 28-22-1. Against the spread: Seahawks 5-6-1, Cardinals 8-4. Last meeting: Seahawks beat Cardinals 16-6 on Nov. 24, 2024, in Seattle. Last week: Seahawks beat Chargers, 26-21; Cardinals lost to Vikings, 23-22. Seahawks offense: overall (16), rush (28), pass (2), scoring (15). Seahawks defense: overall (18), rush (21), pass (12), scoring (12). Cardinals offense: overall (11), rush (6), pass (22), scoring (17). Cardinals defense: overall (17), rush (13), pass (18), scoring (11). Turnover differential: Seahawks minus-6, Cardinals minus-1. Seahawks player to watch DT Leonard Williams has been one of the most dominant players in the league over the past two weeks. Williams had 2 1/2 sacks, four tackles for loss and three quarterback hits two weeks ago against the Cardinals. Williams sacked Aaron Rodgers twice and scored his first career touchdown on a 92-yard pick-6. Cardinals player to watch QB Kyler Murray has had some good moments over the past two games and completed 31 of 45 passes for 260 yards and a touchdown against the Vikings. But he also threw two interceptions in the fourth quarter which proved costly. Key matchup QB Geno Smith vs. Arizona’s defense. Smith has had another solid season and now he’ll face an Arizona defense that’s been vastly improved over the past 1 1/2 months. The Cardinals have been much more productive in the pass rush with 23 sacks over the past six games. That ranks third in the NFL over that span. Key injuries Coach Mike Macdonald said he is optimistic that P Michael Dickson (back spasms) will be able to play this weekend, but bringing in another punter this week is “on the table.”.. LB Uchenna Nwosu has a chance to play this week. Nwosu missed the first four games of the season with a knee injury, then injured his thigh in his first game back in Week 5, and has been on injured reserve since. ... The Cardinals are relatively healthy. DLs Darius Robinson (calf) and Dante Stills (back) have been limited in practice this week. Series notes The Seahawks have won six straight games in the series going back to 2022. The Cardinals last won 23-13 on Nov. 21, 2021. The Cardinals haven’t won at home against the Seahawks since 2020. Stats and stuff The Seahawks’ next win will be the 400th in franchise history. ... Since Week 9, Seattle’s defense ranks fifth in the NFL with 17.5 points allowed per game, 299 yards allowed per game, and 84.3 rushing yards allowed per game, while ranking sixth in the league with 18.8 first downs allowed. ... The Seahawks have two pick-6s in the past two games, the first time the team has done so since 2012. ... The Seahawks have held three straight opponents to under 300 yards, and fewer than 100 rushing yards. ... Seattle has outscored its opponents by 37 points in the final two minutes of halves this season, the best in the NFL. .. WR DK Metcalf needs one receiving TD to pass Steve Largent for the most in a player’s first six seasons in franchise history with 47. ... Smith needs one 300-yard game to tie Russell Wilson for the most 300-yard games in a single season in franchise history with five. ... WR Jaxon Smith-Njigba Needs 171 yards for his first 1,000-yard season, and to become the 10th player in franchise history to reach that mark. ... Arizona has won three straight games at home. The Cardinals outscored those opponents 77-30 while scoring nine touchdowns and allowing none. ... TE Trey McBride has caught 12 passes in two straight games, which is the first time a tight end has had at least 12 receptions in two straight games in NFL history. ... Arizona’s six losses have come to teams with a combined 55-18 record this season entering Week 14. ... S Budda Baker has 114 tackles this season, which ranks sixth in the league. ... McBride’s caught 73 passes this season. He needs just nine more catches over the next five games to break his franchise record for a tight end. ... WR Marvin Harrison Jr. has caught seven TD passes this season, which leads all NFL rookies. ... The Cardinals have been flagged for 61 penalties this season, which is the fewest in the NFL. But the team was flagged 10 times in last week’s loss to the Vikings. Fantasy tip Arizona’s defense is a strong play at home. The Cardinals are giving up just 17 points per game at State Farm Stadium, which is second in the league behind Pittsburgh. ___ AP NFL:

VANCOUVER, British Columbia, Dec. 03, 2024 (GLOBE NEWSWIRE) -- K92 Mining Inc . (“ K92 ” or the “ Company ”) (TSX : KNT; OTCQX : KNTNF) is pleased to announce its latest high-grade results from the ongoing surface and underground diamond drilling of the Kora, Kora South, Judd and Judd South deposits in addition to the Kora and Judd Deeps targets at the Kainantu Gold Mine in Papua New Guinea. Multiple high-grade intersections plus two zones of broadening width, identified as dilatant zones, recorded in a previously sparsely drilled area near the twin incline at Kora. The dilatant zones identified are the first to be drilled with significant drill density, demonstrating large interpreted strike lengths of approximately 60 metres in K1 and approximately 100 metres in K2, providing high potential for bulk mining (see Figure 4 for 950 Level Plan Map, and Figures 1 and 2 for K1 and K2 long sections). These dilatant zones are also located near-mine infrastructure, approximately 175 metres south from the current 950 Level access development, enabling potential near-term mining. Importantly, the dilatant zones are in an area previously interpreted to be narrow vein in the mineral resource estimate (September 12, 2023 effective date, “2023 MRE”) and the Updated Integrated Development Plan PEA Case (January 1, 2024 Effective Date, “Updated IDP”), while also recording multiple high-grade intersections. K2 dilatant zone intercepts: KMDD0752: 13.50 m at 19.02 g/t gold equivalent (“AuEq”) (2) (14.93 g/t Au, 199 g/t Ag, 1.00% Cu) KMDD0746: 14.40 m at 12.09 g/t AuEq (9.58 g/t Au, 54 g/t Ag, 1.15% Cu) KMDD0709: 12.14 m at 5.97 g/t AuEq (4.73 g/t Au, 7 g/t Ag, 0.72% Cu) KMDD0751: 9.50 m at 7.00 g/t AuEq (2.26 g/t Au, 42 g/t Ag, 2.63% Cu) K1 dilatant zone intercepts: KMDD0709: 16.10 m at 15.63 g/t AuEq (11.48 g/t Au, 40 g/t Ag, 2.28% Cu) KMDD0743: 14.05 m at 5.56 g/t AuEq (3.14 g/t Au, 56 g/t Ag, 1.07% Cu) KMDD0692: 8.90 m at 8.60 g/t AuEq (3.73 g/t Au, 81 g/t Ag, 2.41% Cu) KMDD0712: 7.25 m at 5.58 g/t AuEq (3.05 g/t Au, 77 g/t Ag, 0.98% Cu) High-grade intercepts: KMDD0698A: 8.15 m at 24.49 g/t AuEq (24.00 g/t Au, 16 g/t Ag, 0.18% Cu) KMDD0775: 4.00 m at 15.58 g/t AuEq (11.53 g/t Au, 44 g/t Ag, 2.19% Cu) KMDD0715: 6.00 m at 9.73 g/t AuEq (4.75 g/t Au, 49 g/t Ag, 2.72% Cu) KMDD0775: 4.60 m at 8.73 g/t AuEq (2.77 g/t Au, 28 g/t Ag, 3.49% Cu) High-grade zones within Kora's K1 and K2 Veins extended up-dip from main mine, with multiple areas exceeding resource model grades, including: K1 Vein high-grade extension up-dip from main underground mining area: KMDD0753: 10.60 m at 34.57 g/t AuEq (27.85 g/t Au, 37 g/t Ag, 3.91% Cu) KMDD0702: 4.37 m at 33.27 g/t AuEq (32.16 g/t Au, 10 g/t Ag, 0.61% Cu) KMDD0705: 5.30 m at 25.67 g/t AuEq (24.99 g/t Au, 3 g/t Ag, 0.40% Cu) KMDD0726: 7.16 m at 9.79 g/t AuEq (7.07 g/t Au, 8 g/t Ag, 1.64% Cu) K2 Vein high-grade extension up-dip from main underground mining area: KMDD0754: 9.35 m at 13.70 g/t AuEq (11.51 g/t Au, 12 g/t Ag, 1.27% Cu) KMDD0705: 6.60 m at 10.76 g/t AuEq (7.27 g/t Au, 12 g/t Ag, 2.08% Cu) KMDD0714: 9.50 m at 9.53 g/t AuEq (8.05 g/t Au, 5 g/t Ag, 0.89% Cu) KMDD0720: 6.66 m at 8.41 g/t AuEq (6.32 g/t Au, 21 g/t Ag, 1.14% Cu) Judd’s J1 Vein recorded an extension of the high-grade zone up-dip from main mine, with several areas reporting significantly higher grades than the 2023 MRE that was based on, at that time, sparse drilling. Additionally, multiple high-grade intercepts were identified beyond the current resource at Judd Deeps and along strike in both directions: J1 Vein high-grade extension up-dip from main underground mining area: JDD0251: 5.00 m at 178.59 g/t AuEq (177.69 g/t Au, 2 g/t Ag, 0.54% Cu) JDD0258: 3.95 m at 51.67 g/t AuEq (50.06 g/t Au, 24 g/t Ag, 0.81% Cu) JDD0263: 7.38 m at 7.66 g/t AuEq (6.87 g/t Au, 14 g/t Ag, 0.38% Cu) J1 Vein high-grade intercepts at Judd Deeps and north of resource: KMDD0729: 1.30 m at 23.33 g/t AuEq (16.77 g/t Au, 52 g/t Ag, 3.69% Cu) JDD0261: 1.70 m at 23.20 g/t AuEq (21.63 g/t Au, 42 g/t Ag, 0.65% Cu) JDD0265: 2.20 m at 15.24 g/t AuEq (6.39 g/t Au, 78 g/t Ag, 4.91% Cu) JDD0266: 3.47 m at 11.88 g/t AuEq (11.41 g/t Au, 9 g/t Ag, 0.22% Cu) Notes: (1) Drill highlights presented above are core lengths (not true widths). Refer to Table 1 to 3. (2) Gold equivalent (AuEq) exploration results are calculated using longer-term commodity prices with a copper price of US$4.00/lb, a silver price of US$22.5/oz and a gold price of US$1,750/oz. John Lewins, K92 Chief Executive Officer and Director, stated, “The latest drilling results at Kora and Judd, once again confirm that the resource expansion potential is very significant, and that there are significant opportunities to upgrade multiple areas in terms of both thickness and grade, with increased drill density. The high-grade zones extended up-dip at Kora and Judd in the main mine area, plus the identification of the two new dilatant zones in the twin incline area is especially significant as they are near existing mine infrastructure, providing a near and medium-term benefit to the Stage 3 Expansion ramp-up. This is also the first time dilatant zones have been drilled with significant drill density, demonstrating substantial strike lengths for bulk mining – these zones have already been integrated into our mine plans. We believe that we control a large gold-copper district of which we are only starting to scratch the surface. In addition to exploration at Kora-Kora South and Judd-Judd South, exploration at Arakompa has considerably expanded over the course of the year, with four drill rigs now operating. We look forward to providing an update in due course.” The results for the latest 95 diamond drill holes completed from surface and underground are summarized in the tables below. The results continue to demonstrate the high-grade, continuity and expansion potential of the Kora-Kora South and Judd-Judd South vein systems. Intersections largely focused on increasing drill density vertically while also targeting resource extension along strike to the south and north. All drill holes at Kora-Kora South (including Kora Deeps) intersected mineralization, with 21 intersections exceeding 10 g/t AuEq and 67 intersections exceeding 5 g/t AuEq. At Judd-Judd South (including Judd Deeps), all drill holes intersected mineralization, with 11 intersections exceeding 10 g/t AuEq and 24 intersections exceeding 5 g/t AuEq. Figures Long sections of K1, K2, and J1 showing the location of the latest drill holes are provided in Figures 1, 2, and 3 , respectively. A plan map showing K1 and K2 at the 950 level is provided in Figure 4. A long section showing Kora drilling to date is provided in Figure 5 . A long section showing Judd drilling to date is provided in Figure 6 . Core photographs are provided, of drill hole JDD0251 in Figure 7 , KMDD0753 in Figure 8 and KMDD0702 in Figure 9 . The Independent Qualified Person responsible for the Mineral Resource estimate is Simon Tear, P.Geo. of H & S Consultants Pty. Ltd., Sydney, Australia, and the effective date of the estimate is September 12, 2023. (Refer to technical report, titled, “Independent Technical Report, Kainantu Gold Mine, Updated Integrated Development Plan, Kainantu Project, Papua New Guinea” dated November 28, 2024, with an effective date of January 1, 2024.) Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Geological interpretation has generated a series of narrow, sub-vertical vein structures based on delineated wireframes on 10m, 20m and 25m spaced cross sections. The design of the lode wireframes is based on a combination of logged geology, Au, Cu & Ag assay grades and locally on a nominal minimum mining width of 5.2m, all coupled with geological sense. Resources were compiled at 3 g/t gold equivalent cut-off grades for Kora and Judd. Density (t/m 3 ) was modelled using Ordinary Kriging on 2,778 sample measurements. Areas within the mineral wireframes where no density grades were interpolated had average default values inserted at appropriate levels. Reported tonnage and grade figures are rounded from raw estimates to reflect the order of accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Estimations used metric units (metres, tonnes and g/t). Gold equivalents are calculated as AuEq = Au g/t + Cu%*1.6481+ Ag g/t*0.0114. Gold price US$1,700/oz; Silver US$22.5/oz; Copper US$4.00/lb. Metal payabilities and recoveries are incorporated into the AuEq formula. Recoveries of 95% for copper and 80% for silver were used. Drill Hole Sampling Methodology, QA/QC and Qualified Person The diamond drill hole is first logged to determine the sampling intervals, which range from a minimum of 0.1 metres to generally 1 metre. The drill core is sawn half core cut along a reference line, with the remainder of the core returned to the core tray. Core samples are then placed in numbered calico and plastic bags, with a numbered sample ticket for dispatch to the assay laboratory. Samples are separately assayed for gold, copper and silver. K92’s procedure includes the insertion standards, blanks and duplicates. Gold assays are by the fire assay method. Copper and silver assays are by three-acid-digestion method (nitric, perchloric and hydrochloric mix). K92 maintains an industry-standard analytical quality assurance and quality control (QA/QC) and data verification program to monitor laboratory performance and ensure high quality assays. Results from this program confirm reliability of the assay results. All sampling and analytical work for the mine exploration program is performed by Intertek Testing Services (PNG) Ltd, an independent accredited laboratory that is located on site. External check assays for QA/QC purposes are performed at SGS Australia Pty Ltd in Townsville, Queensland, Australia. K92 Executive Vice President, Exploration, Mr. Chris Muller, PGeo, and K92 Mine Geology Manager and Mine Exploration Manager, Andrew Kohler, MAIG, both Qualified Persons under the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects , have reviewed and are responsible for the technical content of this news release. In addition to the analytical QA/QC program outlined above, data verification also includes significant time onsite reviewing drill core, soil and outcrop sampling, artisanal workings, as well as discussing work programs and results with geology personnel and external consultants. About K92 K92 Mining Inc. is engaged in the production of gold, copper and silver at 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, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing plant expansions. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022. 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, President and Chief Operating Officer at +1-604-416-4445 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements include, without limitation: (i) the results of the Kainantu Mine Definitive Feasibility Study, and the Kainantu Preliminary Economic Assessment, including the Stage 3 Expansion, a new standalone 1.2 mtpa process plant and supporting infrastructure; (ii) statements regarding the expansion of the mine and development of any of the deposits; (iii) the Kainantu Stage 4 Expansion, operating two standalone process plants, larger surface infrastructure and mining throughputs; and (iv) the potential extended life of the Kainantu Mine. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors, many of which are beyond our ability to control, that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, without limitation, Public Health Crises, including the COVID-19 virus; changes in the price of gold, silver, copper and other metals in the world markets; fluctuations in the price and availability of infrastructure and energy and other commodities; fluctuations in foreign currency exchange rates; volatility in price of our common shares; inherent risks associated with the mining industry, including problems related to weather and climate in remote areas in which certain of the Company’s operations are located; failure to achieve production, cost and other estimates; risks and uncertainties associated with exploration and development; uncertainties relating to estimates of mineral resources including uncertainty that mineral resources may never be converted into mineral reserves; the Company’s ability to carry on current and future operations, including development and exploration activities at the Arakompa, Kora, Judd and other projects; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the availability and costs of achieving the Stage 3 Expansion or the Stage 4 Expansion; the ability of the Company to achieve the inputs the price and market for outputs, including gold, silver and copper; failures of information systems or information security threats; political, economic and other risks associated with the Company’s foreign operations; geopolitical events and other uncertainties, such as the conflicts in Ukraine, Israel and Palestine; compliance with various laws and regulatory requirements to which the Company is subject to, including taxation; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions, including relationship with the communities in Papua New Guinea and other jurisdictions it operates; other assumptions and factors generally associated with the mining industry; and the risks, uncertainties and other factors referred to in the Company’s Annual Information Form under the heading “Risk Factors”. Estimates of mineral resources are also forward-looking statements because they constitute projections, based on certain estimates and assumptions, regarding the amount of minerals that may be encountered in the future and/or the anticipated economics of production. The estimation of mineral resources and mineral reserves is inherently uncertain and involves subjective judgments about many relevant factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, Forward-looking statements are not a guarantee of future performance, and actual results and future events could materially differ from those anticipated in such statements. Although we have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause actual results to differ materially from those that are anticipated, estimated, or intended. 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. Figure 1 – K1 Vein Long Section Figure 2 – K2 Vein Long Section Figure 3 – J1 Vein Long Section Figure 4 – K1 and K2 Vein Plan Map (950 Level) Figure 5 – Kora-Irumafimpa Long Section Figure 6 – Judd Long Section Figure 7 – JDD0251 Core Photograph, 151.59 – 156.45m; within intersection of 5.00 m at 178.59 g/t AuEq or 177.69 g/t Au, 2 g/t Ag and 0.54% Cu from the J1 Vein. Figure 8 – KMDD0753 Core Photograph, 237.10 – 248.62m; within intersection of 10.60 m at 34.57 g/t AuEq or 27.85 g/t Au, 37 g/t Ag and 3.91% Cu from the K1 Vein. Figure 9 – KMDD0702 Core Photograph, 123.00 – 128.24m; within intersection of 4.37 m at 33.27g/t AuEq or 32.16 g/t Au, 10 g/t Ag and 0.61% Cu from the K1 Vein. Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/064a9c40-fada-4234-95db-4c39d433638e https://www.globenewswire.com/NewsRoom/AttachmentNg/413e3218-7e10-44d2-a0bb-5faaaa9969d7 https://www.globenewswire.com/NewsRoom/AttachmentNg/7cc7a0d3-1619-46fd-9fb2-05f096957a89 https://www.globenewswire.com/NewsRoom/AttachmentNg/7fa60ea0-cdff-4f31-b8f3-5427b875b07f https://www.globenewswire.com/NewsRoom/AttachmentNg/8f594a08-f037-4bea-a7cb-4100bba460dc https://www.globenewswire.com/NewsRoom/AttachmentNg/9d0e873c-d8e7-4e33-9048-5c1059e4d509 https://www.globenewswire.com/NewsRoom/AttachmentNg/7ff1e4ac-504c-4e80-b8c6-a54647c4998a https://www.globenewswire.com/NewsRoom/AttachmentNg/57b10fbe-eb32-45f8-8ded-23821ed0748b https://www.globenewswire.com/NewsRoom/AttachmentNg/72ba22ab-9608-4734-a07a-9817f53e6032Francis' 23 lead NJIT over Navy 69-64