Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is pleased to announce that it has closed the CAD $2 million non-brokered private placement (the “Private Placement”) announced on December 06, 2023. In total, the Company sold an aggregate of 5,714,286 units of the Company (each, a “Unit”) at a price of CAD$0.35 per Unit for gross proceeds of CAD$2 million. In addition to the base CAD$2 million funding, Luca has reserved a 25% over subscription option on the Private Placement.

Net proceeds of the Private Placement will be used towards further advancing the optimization program at Campo Morado as well as for general working capital purposes. Campo Morado is a copper-gold-silver-zinc mine within the prolific Guerrero Mineralized Belt in southern Mexico, a region well-known for its rich deposits of gold, silver, copper, lead, iron, and zinc. The optimization program initiated by the Company at Campo Morado has transformed the performance of the mine in terms of recoveries, grades and operating efficiencies, and, as a result, Luca expects to see substantial increases in revenue. This long life mine is expected to generate consistent, positive free cash flow in 2024 and beyond with significant upside potential.

Each Unit consists of one common share of the Company (a “Share”) and one half of one transferable share purchase warrant (each whole, a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional common share (a “Warrant Share”) at a price of CAD $0.50 per Warrant Share until December 18, 2025 (the “Expiry Date”), subject to an acceleration clause. If the closing price of the Shares on the TSX Venture Exchange (the “TSXV”) or such other stock exchange as Luca is listed on exceeds CAD $0.90 for 15 consecutive trading days, the Company will earn the right, providing notice (the “Acceleration Notice”) to the warrant holders via a news release or written notice, to accelerate the Expiry Date of the Warrants to 4:00pm (Vancouver time) on the 30th day from the date of the Acceleration Notice (the “Acceleration Expiry Date”). If the Company provides Acceleration Notice, all Warrants that are not exercised by the Accelerated Expiry Date will expire. In consideration of its efforts in arranging the Private Placement, Luca paid an 8% finder’s fee satisfied by issuing 680,851 Shares to a finder.

All securities issued in connection with the private placement are subject to a four month plus one day hold period expiring April 19, 2024 under applicable Canadian securities laws. The Private Placement is subject to receipt of final approval of the TSXV.

About Luca Mining Corp.
Luca Mining Corp. is a Canadian based mining company with two 100% owned Mexican gold, silver, and base metal mining projects. With one mine ramping up, and another going through an optimisation program, the Company expects these operations to generate consistent, positive free cash flow starting in early 2024.

Luca’s Tahuehueto Mine is a new underground gold mine in northwestern Durango State, Mexico, located within the prolific Sierra Madre Mineral Belt which hosts numerous producing and historic mines along its trend. Currently in the final stages of construction to the nameplate capacity of 1,000 tonnes per day, Tahuehueto is on track to become a significant and one of Mexico’s newest gold mines to come into production. The Pre-Feasibility Study updated in 2022 contemplates an operation achieving production of 40,000 ounces gold-equivalent per year, with approximately 75% of the revenues from precious metals, and a 10-year mine life.

The Campo Morado Mine, located in Guerrero State, Mexico, is an operating underground base and precious metals mine with a throughput of approximately 600,000 tonnes per year, producing copper, zinc and lead concentrates with significant precious metals credits. It is currently undergoing an optimisation program which is already generating significant improvements in recoveries and grades, and cashflows.

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 program to improve mining operations 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 the program to improve mining 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.

For further information about Luca Mining Corp., please contact:

Sophia Shane
Director of Corporate Development
[email protected]
or
Glen Sandwell
Corporate Communications Manager
[email protected]
Tel: +1 (604) 684-8071

Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is pleased to announce that it has arranged a funding package for the mine optimization program (the “Program”) underway at its 100% owned Campo Morado copper-gold-silver-zinc mine in Mexico.

The optimization program at Campo Morado is a major initiative and is expected to result in fundamental improvements in productivity, operational efficiency and cashflow.

• Campo Morado Optimization Program
  • Luca expects revenues from Campo Morado to increase by approximately 40% as a result of the optimization program.
• Funding Secured for Optimization Program
  • Luca has secured the CAD $3.6 million budgeted for the Program, focusing on mine and mill equipment, process control, and operator training.
  • Total funding package includes a CAD $2 million private placement at a significant premium to the market, as well as a US $2.5 million debt facility.
• Trafigura Debt Restructuring
  • Trafigura converts US $5.8 million loan into a non-interest-bearing convertible loan.
• Debt Settlement with Latapi Consultores
  • Luca settles a CAD $11M+ debt with Latapi, writing off CAD $3M+ and converting the remaining CAD $7.9M to equity at CAD $0.45 per share, greatly improving the Company’s financial position.

Mike Struthers, CEO, commented, “This is a transformational initiative for Campo Morado. Through this strategic funding we can push ahead aggressively with this program, unlocking the true potential of the mine. Our new VP Technical, Chris Richings, is leading the effort, combined with Ausenco’s lead process engineer Richard Whittering.  An effective mine-to-mill program, with blending of the ore feed to the mill, is a crucial element and the program also includes a wide range of staged improvements in the mill. I am confident that under this initiative we will be adding considerable value to the bottom line at Campo Morado, and hence to Luca as a whole.”  

Ramon Perez, President, stated, “We have spent the past several months diligently working to set the Company up for a very strong 2024. We have already started to see major improvements resulting from the early stages of the Campo Morado mine optimization plan developed in conjunction with Ausenco. This should increase cash flow from Campo Morado dramatically by Q2, 2024. Further we are still on target to confirm the completion of the build out of facilities at our Tahuehueto gold mine to an installed capacity of 1,000 tonnes per day by year end, with declaration of commercial production in Q1, 2024.  We hope shareholders recognize that despite market price challenges, all the financial restructuring described above has been negotiated at or above the price of the Company’s last private placement. In particular, removing $11,029,817.23 in debt for 17,750,000 shares, represents an equivalent $0.62 deemed settlement price.”

Campo Morado, located in Guerrero State, Mexico, is an operating underground base and precious metals mine with annual throughput of approximately 600,000 tonnes, producing zinc, copper, and lead concentrates with significant precious metals credits. The long life mine is expected to generate consistent, positive free cash flow in 2024 and beyond. 

The Campo Morado optimization Program has already demonstrated the mine’s considerable potential for improvement. An over 20-point improvement in copper recovery has already been achieved, together with 5 points of zinc recovery with improved zinc grades, during this initial stage. Over the coming months the Program is expected to achieve separate, clean copper, zinc and lead concentrates with substantially higher recoveries and concentrate grades, delivering considerable additional value to Campo Morado over life of mine. Most notably, total payable copper recovery is expected to increase by 25 points to 70% compared to recent past performance, and with a much-improved concentrate grade of 25% copper.

The funding package will enable the Company to aggressively push ahead with the improvements, initially focusing on investments in mine equipment, mill equipment, process control, and operator training. 

The Company is already seeing the benefits of these improvements to cashflows, and continued success with the Program is expected to drive greater profitability at Campo Morado.

Funding Package and Debt Conversion

The Program is budgeted at CAD $3.6 million and with a time frame of approximately 6 months for completion. The Program will include several elements, such as investment in mine equipment, process plant equipment and operator training. We are pleased to advise that our concentrate purchaser Trafigura De Mexico, S.A. de C.V. (“Trafigura”) has agreed to a restructuring of a portion of the current debt outstanding, as well as providing an additional advance of US $2.5M to help fund the Program as follows:

• By news release dated March 31, 2023, the Company originally announced that Trafigura would convert US$5.8M of outstanding loans (approximately CAD$8M) into common shares at $.35 per share plus 6,750,000 non-transferable share purchase warrants. The parties have now agreed to convert the US$5.8M loan into a non-interest-bearing convertible loan, convertible in 3 years at $.35 per share into common shares of the Company. No share purchase warrants will be issued.
• Secondly, Trafigura has agreed to expand its current general debt facility by US$2.5M in exchange for a two-year extension on the Campo Morado offtake agreements that it holds. Luca expects that with the expected increase in cash flows from Campo Morado, it should be able to pay back the expanded facility within 6-8 months of the completion of the Program.
• Thirdly, the Company has arranged to sell, on a non-brokered private placement (the “Private Placement”) basis, an aggregate of up to 5,714,285 units from treasury (the “Units”) at a price of CAD $0.35 per Unit for aggregate gross proceeds of CAD $2 million to a strategic investor. Each Unit consists of one common share of the Company (a “Unit Share”) and one-half of one transferable share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional common share (a “Warrant Share”) at a price of CAD $0.50 per Warrant Share for a period ending two (2) years (the “Expiry Date”) following the closing of the Private Placement (the “Closing Date”), subject to an acceleration clause.
• If, at any time between the Closing Date and the Expiry Date, the closing price of the Company’s common shares (“Shares”) on the TSX Venture Exchange (“TSXV”) exceeds $0.90 for 15 consecutive trading days, then the Company will earn the right, by providing notice (the “Acceleration Notice”) to the Warrant holder via a news release, to accelerate the Expiry Date of the Warrants to that date which is 30 days from the date of the Acceleration Notice (the “Accelerated Expiry Date”). In such instance, all Warrants that are not exercised prior to the Accelerated Expiry Date will expire on the Accelerated Expiry Date.
• A finder’s fee of 8% is payable on the Private Placement. The Company has also reserved a 25% oversubscription option on the Private Placement. Net proceeds of the Private Placement will be used towards the optimization Program at Campo Morado as well as for general working capital purposes. All securities issued under the Private Placement will be subject to a four month and one day hold period from closing.
• Finally, the Company has entered into an agreement with Latapi Consultores, S.A. de C.V. (“Latapi”), a private Mexican company that acquired the Company’s outstanding debt in the amount of CAD $11,029,817.23 payable and owing to Accendo Banco S.A. de C.V. (“Accendo”). Latapi has agreed to write-off CAD $3,042,317.23 of the outstanding loan facility leaving a balance of CAD$7,987,500 and subject to the acceptance of the TSXV will convert this balance to equity at CAD$0.45 for 17,750,000 common shares. The Company views this debt settlement very positively, as it removes a CAD$11M+ liability on the Company’s balance sheet on favourable terms, considering the write-off and settlement are being completed at a substantial premium to current market price.

About Luca Mining Corp.

Luca Mining Corp. is a Canadian based mining company with two 100% owned Mexican gold, silver, and base metal mining projects.  With one mine ramping up, and another going through an optimisation program, the Company expects these operations to generate consistent, positive free cash flow starting in early 2024.

Luca’s Tahuehueto Mine is a new underground gold mine in northwestern Durango State, Mexico, located within the prolific Sierra Madre Mineral Belt which hosts numerous producing and historic mines along its trend. Currently in the final stages of construction to the nameplate capacity of 1,000 tonnes per day, Tahuehueto is on track to become a significant and one of Mexico’s newest gold mines to come into production. The Pre-Feasibility Study updated in 2022 contemplates an operation achieving production of 40,000 ounces gold-equivalent per year, with approximately 75% of the revenues from precious metals, and a 10-year mine life.

The Campo Morado Mine, located in Guerrero State, Mexico, is an operating underground base and precious metals mine with a throughput of approximately 600,000 tonnes per year, producing zinc, copper, and lead concentrates with significant precious metals credits. It is currently undergoing an optimisation program which is already generating significant improvements in recoveries and grades, and cashflows.

Qualified Persons

The technical information contained in this News Release has been approved by Mr. Christopher Richings, P.Eng. (EGBC) Vice-President Technical at Luca Mining, a Qualified Person for the Company as defined in National Instrument 43-101.

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 program to improve mining operations 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 the program to improve mining  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. 

For further information about Luca Mining Corp., please contact: 

Sophia Shane

Director of Corporate Development

[email protected]

or

Glen Sandwell 
Corporate Communications Manager 
[email protected] 
Tel: +1 (604) 684-8071 

Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) announces its financial and operating results for the third quarter and nine months ended September 30, 2023. The Company reports net revenue of $15.1 million in Q3 2023, representing a 2% increase over net revenue of $14.8 million in Q3 2022.  Mine operating income (before depletion, depreciation, and amortization) in Q3 2023 was $0.30 million compared to $1.50 million in Q3 2022. The net mine operating loss in Q3 2023 was $0.74 million compared to a net mine operating gain of $1.16 million in Q3 2022.

Highlights

• Tahuehueto is nearing completion of 1,000 tonnes per day of installed capacity before year end and on track to ramp up to commercial production in early 2024. First phase production from the mine is expected to achieve over 40,000 ounces gold equivalent per year with an AISC of under USD $1,000 per AuEq ounce*.
• Campo Morado initiated an optimization program designed in cooperation with consulting metallurgical engineers, Ausenco, which has already demonstrated substantial increases in both recoveries and grades of the copper-lead and zinc concentrates. 
• The Company expects the optimization program to result in a revenue increase of at least 40% in 2024 with only very modest capital expenditures.

“During the third quarter of 2023, the Tahuehueto Mining project continued progressing towards its objective of achieving 1,000 tonnes per day installed capacity by year-end and announcement of commercial production early in 2024,” said Mike Struthers, CEO. “Following a challenging operational performance in Q3 2023 at Campo Morado, in large part due to reduced throughput as part of a new optimization program by our colleagues at Ausenco, we now have, for the first time in the history of this operation, an understanding of how to correctly operate the project to achieve consistent performance and profitability. The execution of a new mine-to-mill program, an effective blending strategy, and multiple initiatives in the processing plant, will translate into major improvements to the bottom line at Campo Morado. We are very grateful for the substantial support provided by the Ausenco engineers and look forward to the improved results to come to fruition in 2024.” 

Q3 2023 Overview

Campo Morado

Production and concentrate sales for the three months ended September 30, 2023:

• Produced 5,094 tonnes of zinc concentrate grading an average of 45.8% zinc, 4.08 g/t gold, 450 g/t silver and sold 5,399 tonnes generating Q3-2023 revenue from zinc concentrate of US$4.59 million.
• Produced 3,674 tonnes of bulk copper-lead concentrate, grading an average of 14.8% copper, 11.72 g/t gold, 753 g/t silver and sold 3,485 tonnes generating Q3-2023 revenue from copper concentrate of US$5.97 million
• 128,287 tonnes of mineralized material were processed through the processing plant at a C1 cash cost per pound payable of zinc at US$2.74 with average grades of 2.51% zinc, 0.77% copper, 0.74% lead, 1.62 g/t gold, and 100.91 g/t silver
• Recoveries during Q3-2023 were 72.6% zinc, 47.8% copper, 28% gold, and 36.6% silver.

C1 cash costs per pound of payable zinc for the Campo Morado Mine operation are estimated by adding the total cost to produce concentrate (mining, milling, site general and administration), adding the cost of transporting concentrate to the point of sale, adding the cost of smelter treatment and refining charges, subtracting the byproduct credits estimated from sales of lead, silver, gold and dividing by the pounds of payable zinc. By-product credits are calculated using the realized weighted average metal price, during the year.

Campo Morado Optimization Program

• In July 2023 Ausenco consultants reviewed and optimized the comminution circuit, reducing throughput from 100 to 75 tonnes per hour and adjusting the primary grind from 65 microns to 35 microns to enhance flotation recoveries.
• Subsequent lab tests and plant trials showcased substantial recovery increases, resulting from effective blending in the mine and the use of correct reagents.
• The initiative evolved into a project during the quarter, encompassing a mine-to-mill program, extensive process plant modifications, and lab tests at ALS laboratories in Canada.
• The project is slated for implementation in Q4 2023, with results expected over the subsequent months.
• In a news release dated November 20, 2023, Luca announced initial results from the optimization program.

• A bulk concentrate is being produced with greater than 70% copper recovery (compared to a historical range between 35-40%). The concentrate produced contained greater than 14-16% copper (compared to historical values near 11%).
• Overall zinc recovery is expected to increase from 76% to 86% and the final concentrate grade increases from 46% to 56% zinc over the next 12 months.

Tahuehueto Mining Project

While the project is still under construction, the following details the production and concentrate sales for the three months ended September 30, 2023:

• Produced 782 tonnes of zinc concentrate grading an average of 52.2% zinc, 8.70 g/t gold, 117.15 g/t silver and sold 591 tonnes generating Q3-2023 revenue from zinc concentrate of US$0.64 million.
• Produced 487 tonnes of lead concentrate grading an average of 38.4% lead, 79.95 g/t gold, 794.12 g/t silver and sold 532 tonnes generating Q3-2023 revenue from lead concentrate of US$2.61 million.
• 19,433 tonnes of mineralized material were processed through the processing plant with average grades of 3.27% zinc, 1.34% lead, 3.05 g/t gold, and 32.79 g/t silver.
• Recoveries during Q3-2023 were 64.1% zinc, 79.4% lead, 82.3% gold, and 82.7% silver.
• Daily output has varied considerably during the period, as equipment and systems are tested, optimized, installed, and commissioned. The average daily throughput during the period was 211 tonnes per day, with a peak production output of 440 tonnes per day tonnes per day.

Management Discussion and Analysis Refiling

On November 27, 2023, the Company filed its condensed interim consolidated financial statements and corresponding management discussion and analysis (“MD&A”) for the period ending September 30, 2023. Subsequently, the Company became aware of minor update revisions and typographical corrections (including, but not limited to, page 7 of such MD&A under the heading “Operational Performance Results) required to the MD&A and as a result the Company has refiled its MD&A on November 30, 2023. These corrections do not materially impact the substantive content or key insights presented in the original MD&A but aim to ensure the precision and accuracy of our communication.

About Luca Mining Corp.

Luca Mining Corp. is a Canadian based mining company with two 100% owned Mexican gold, silver, and base metal mining projects.  With one mine ramping up, and another going through an optimisation program, the Company expects these operations to generate consistent, positive free cash flow starting in early 2024.

Luca’s Tahuehueto Mine is a new underground gold mine in northwestern Durango State, Mexico, located within the prolific Sierra Madre Mineral Belt which hosts numerous producing and historic mines along its trend. Currently in the final stages of construction to the nameplate capacity of 1,000 tonnes per day, Tahuehueto is on track to become a significant and one of Mexico’s newest gold mines to come into production. The Pre-Feasibility Study updated in 2022 contemplates an operation achieving production of 40,000 ounces gold-equivalent per year, with approximately 75% of the revenues from precious metals, and a 10-year mine life.

The Campo Morado Mine, located in Guerrero State, Mexico, is an operating underground base and precious metals mine with a throughput of approximately 600,000 tonnes per year, producing zinc, copper, and lead concentrates with significant precious metals credits. It is currently undergoing an optimisation program which is already generating significant improvements in recoveries and grades, and cashflows.

*Pre-feasibility report dated April 21, 2022.

Qualified Persons

The technical information contained in this News Release has been approved by Mr. Mike Struthers, C.Eng., CEO and Director at Luca Mining, a Qualified Person for the Company as defined in National Instrument 43-101.

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 program to improve mining operations 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 the program to improve mining  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. 

For further information about Luca Mining Corp., please contact: 

Sophia Shane

Director of Corporate Development

[email protected]

or

Glen Sandwell 
Corporate Communications Manager 
[email protected] 
Tel: +1 (604) 684-8071