September 2023 - Luca Mining Corp.

Download PDF

Luca Mining Corp. (“Luca” or the “Company” (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is pleased to announce the addition of Ms. Sophia Shane as Director of Corporate Development.

Ms. Shane brings decades of experience in capital markets, corporate development and investor relations to Luca following a career spanning nearly 30 years at the highly successful Lundin Group of Companies. At the Lundin Group she was involved in all aspects of marketing, branding, shareholder communications, corporate access, financing, regulatory compliance as well as media relations.

Her focus throughout the years has been to provide the very best in shareholder information. She also brings considerable strategic experience in IR and corporate development, and will add great strength to the existing Luca team.

Sophia has been a Director of several public companies including Anfield Ventures which ultimately became Equinox Gold, and is currently a Director of Interfield Global Software Inc. (IFSS:NEO). She was a Fellow of CSI (FCSI®) and early in her career an Investment Advisor at Odlum Brown Ltd.

Mike Struthers, CEO, commented: “We’re very excited to welcome Sophia into the Luca fold. She brings an enormous amount of experience in the IR space, having helped the Lundin Group grow from their very early days to what they are today. I’m very much looking forwards to working with Sophia to help grow Luca into a very successful mining company.”

The Company announces that pursuant to its Omnibus Equity Incentive Plan, it has granted incentive stock options entitling Employees and Consultants to purchase an aggregate 225,000 shares in the capital stock of the Company. The options will be exercisable at a price of $0.35 per share for a period of 5 years.

About Luca Mining Corp.

Luca Mining Corp. is a Canadian based mining company operating two 100% owned Mexican gold, silver, and base metal mining projects.

Luca’s Tahuehueto Gold Mine Project is in Durango State, Mexico where construction of a 1,000 tonnes per day (“tpd”) operation is expected to complete by 4Q2023. The project is in pre-production generating gold, silver, lead, and zinc in concentrates.

Campo Morado is an operating polymetallic base and precious metals mine producing zinc and copper concentrates with significant precious metals credits.

Visit: www.Lucamining.com

On Behalf of the Board of Directors

(signed) “Mike Struthers”

Mike Struthers, CEO and Director

Cautionary Note Regarding Production Decisions and Forward-Looking Statements

It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca’s production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment (“PEA”) mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see News Release dated November 8, 2017, and April 4,2018).

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the planned recommencement of mining operationsty6 at Campo Morado; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company’s properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as “plans,” “expects,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; that recommencement of operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information 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 Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.