Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is pleased to announce new underground drill results from its ongoing exploration program at the Campo Morado polymetallic VMS mine in Guerrero State, Mexico.

Highlights

• Continued success in the definition of high-grade, gold and silver-rich VMS mineralization in areas immediately adjacent to active underground workings at Campo Morado 
• Underground drillhole CMUG-26-38 intersected 118.2 metres (“m”) of 2.53 g/t Au, 77.89 g/t Ag, 0.76% Cu, 0.57% Pb and 1.99% Zn from 179.9m, defining expanded mineralization in the unmined Largo Norte zone
• Underground drillhole CMUG-26-39 intersected 100.7m of 2.80 g/t Au, 90.72 g/t Ag, 0.59% Cu, 0.71% Pb and 2.59% Zn from 113.0m, expanding previously defined mineralization in the unmined Largo Norte zone
• Underground drillhole CMUG-26-37 intersected 77.1m of 2.31 g/t Au, 47.05 g/t Ag, 0.77% Cu, 0.24% Pb and 0.96% Zn from 182.0m
• Underground drillhole CMUG-26-41 intersected 71.0m of 1.57 g/t Au, 20.12 g/t Ag, 0.72% Cu, 0.07% Pb and 0.39% Zn from 113.5m, with the entirety of the mineralized intercept outside of the Largo Norte resource, and together with CMUG-26-36 (See Company News Release of February 17, 2026) have combined to expand mineralization up to approximately 20m beyond the current extents
• Exploration drilling operations continue at Campo Morado with two surface drill rigs and one underground drill rig

Paul D. Gray, Luca’s VP of Exploration, commented:

“Based on the success of CMUG-26-36, a follow-up drill program was implemented to better define and target potential mineralization extensions in this under-drilled area of the Campo Morado Mine.  Together, the six drillholes collared into Largo Norte this season have increased confidence in this area and expanded previously defined mineralization, which management believes will represent an important addition to the mineral endowment of the Campo Morado Mine. The Largo Norte Zone is a large, 650m long, consistent mineralized VMS body that dips shallowly to the south and ranges from 20 to 60 meters in thickness.”

Near-Mine Underground Drilling

Underground drillhole CMUG-26-37 through CMUG-26-41 targeted the Largo Norte zone and successfully intersected mineralization in each of these drillholes from this unmined zone, including: 

• CMUG-26-37:
  • 77.1m of 2.31 g/t Au, 47.05 g/t Ag, 0.77% Cu, 0.24% Pb and 0.96% Zn from 182.0m,including 14.0m of 2.06 g/t Au, 43.03 g/t Ag, 0.94% Cu, 0.26% Pb and 1.11% Zn from 199.0mand 5.0m of 6.05 g/t Au, 50.76 g/t Ag, 0.45% Cu, 0.41% Pb and 2.29% Zn from 217.5m
• CMUG-26-38:
  • intersected 118.2m  of 2.53 g/t Au, 77.89 g/t Ag, 0.76% Cu, 0.57% Pb and 1.99% Zn from 179.9m, including 3.0m of 5.18 g/t Au, 37.07 g/t Ag, 0.72% Cu, 0.37% Pb and 0.82% Zn from 183.6m and 20.8m of 4.02 g/t Au, 180.72 g/t Ag, 0.47% Cu, 2.02% Pb and 3.90% Zn from 275.3m
• CMUG-26-39:
  • 100.7m of 2.80 g/t Au, 90.72 g/t Ag, 0.59% Cu, 0.71% Pb and 2.59% Zn from 113.0m,including 35.1m of 3.99 g/t Au, 131.32 g/t Ag, 0.57% Cu, 0.88% Pb and 3.59% Zn from 153.6m and a high grade section of 14.4m of 3.16 g/t Au, 172.31 g/t Ag, 1.88% Cu, 1.27% Pb and 1.56% Zn from 287.8m
• CMUG-26-40:
  • 1.8m of 1.36 g/t Au, 17.51 g/t Ag, 0.92% Cu, 0.05% Pb and 0.03% Zn from 22.2m; and 1.5m of 2.48 g/t Au, 5.40 g/t Ag, 0.08% Cu, 0.01% Pb and 0.01% Zn from 238.8m
• CMUG-26-41:
  • 71.0m of 1.57 g/t Au, 20.12 g/t Ag, 0.72% Cu, 0.07% Pb and 0.39% Zn from 113.5m, including 5.4m of 2.39 g/t Au, 29.35 g/t Ag, 1.07% Cu, 0.08% Pb and 0.25% Zn from 155.0m

These recent intersections underscore the multiple opportunities to add additional mineable resources proximal to current development headings, existing infrastructure and expand previously defined mineral resources.

Drilling continues at Reforma and El Rey, in conjunction with on-going underground drilling planned to target the Largo, Largo Norte, Naranjo and Fish deposits, which all contribute to the 2026–2028 mine plans.

Table 1: Highlighted Diamond Drill Assay Results from UG Drillholes CMUG-26-37 through CMUG-26-41.

Hole ID	From (m)	To (m)	Interval (m)*	Au g/t	Ag g/t	Cu%	Pb%	Zn%
CMUG-26-37	47.6	48.2	0.6	1.59	52.20	0.48	0.20	0.70
	75.0	86.6	11.6	1.21	29.75	0.75	0.13	0.95
	103.5	106.5	3.0	0.83	62.95	0.87	0.10	0.45
	106.5	118.5	12.0	1.61	39.68	0.72	0.20	1.63
	165.4	259.1	93.6	2.01	40.38	0.70	0.20	0.83
	Including
	182.0	259.1	77.1	2.31	47.05	0.77	0.24	0.96
		Including
	182.0	189.0	7.0	3.77	43.77	0.47	0.08	0.79
		And
	192.0	199.0	7.0	1.27	45.48	1.89	0.09	0.40
		And
	199.0	213.0	14.0	2.06	43.03	0.94	0.26	1.11
		And
	213.0	217.5	4.5	0.98	37.92	0.82	0.13	0.64
		And
	217.5	222.5	5.0	6.05	50.76	0.45	0.41	2.29
		And
	229.5	238.4	8.9	1.42	49.54	0.64	0.45	1.14
		And
	238.4	251.8	13.4	3.18	92.51	0.56	0.29	1.41
		And
	251.8	259.1	7.3	1.89	52.65	0.64	0.14	0.47
CMUG-26-38	74.8	140.0	65.2	1.21	25.91	1.24	0.12	0.37
	Including
	80.5	116.4	35.8	1.55	28.50	1.56	0.11	0.30
		Including
	80.5	90.2	9.7	2.21	27.77	2.15	0.09	0.30
		And
	99.8	103.1	3.3	1.11	25.55	2.08	0.06	0.14
	And
	136.3	139.5	3.2	1.35	31.83	0.85	0.24	0.88
	179.9	298.1	118.2	2.53	77.89	0.76	0.57	1.99
	Including
	183.6	186.5	3.0	5.18	37.70	0.72	0.37	0.82
	Including
	194.5	204.5	10.1	3.15	42.21	0.90	0.14	0.47
	And
	214.4	230.6	16.2	3.03	59.79	0.61	0.43	1.98
	And
	236.2	252.8	16.6	2.75	58.65	1.09	0.21	1.59
	And
	258.4	275.3	16.8	1.70	90.93	0.83	0.42	3.51
	And
	275.3	296.0	20.8	4.02	180.72	0.47	2.02	3.90
CMUG-26-39	26.1	27.7	1.7	1.29	25.80	1.31	0.11	0.14
	85.0	86.5	1.5	1.95	30.40	2.08	0.05	0.37
	91.4	92.4	1.0	2.43	9.80	0.62	0.19	0.50
	94.4	98.4	4.0	0.58	23.28	1.62	0.03	0.16
	100.4	105.4	5.0	0.74	43.12	1.77	0.08	0.30
	113.0	213.7	100.7	2.80	90.72	0.59	0.71	2.59
	Including
	118.7	129.6	10.9	0.95	45.63	0.79	0.21	1.90
	And
	129.6	135.6	6.0	1.05	37.18	0.64	0.18	0.88
	And
	135.6	140.6	5.0	2.49	57.52	0.56	0.76	2.21
	And
	140.6	146.6	6.0	3.95	100.37	0.65	1.09	5.85
	And
	146.6	153.6	7.0	2.80	65.61	0.42	0.61	5.26
	And
	153.6	188.7	35.1	3.99	131.32	0.57	0.88	3.59
	And
	188.7	195.0	6.3	1.94	77.29	0.55	0.36	0.46
	And
	195.0	199.0	4.0	2.50	74.55	0.61	0.35	0.57
	And
	199.0	203.1	4.1	1.44	64.10	0.63	0.86	1.10
	And
	203.1	213.7	10.6	3.47	118.02	0.52	1.36	0.97
	225.8	302.2	76.4	1.83	92.61	0.77	0.79	2.47
	Including
	227.3	234.0	6.7	1.94	46.69	0.79	0.20	1.09
	And
	246.0	263.0	17.0	1.90	82.32	0.47	0.88	4.33
	And
	263.0	273.6	10.6	1.08	78.50	0.29	0.90	4.13
	And
	273.6	279.5	5.9	1.24	91.73	0.20	0.93	2.62
	And
	284.2	287.8	3.6	1.69	176.30	0.37	2.35	4.12
	And
	287.8	302.2	14.4	3.16	172.31	1.88	1.27	1.56
CMUG-26-40	22.2	24.0	1.8	1.36	17.51	0.92	0.05	0.03
	238.8	240.3	1.5	2.48	5.40	0.08	0.01	0.01
CMUG-26-41	113.5	184.5	71.0	1.57	20.12	0.72	0.07	0.39
	Including
	114.9	122.7	7.9	1.40	22.64	0.79	0.11	0.50
	And
	128.1	133.9	5.8	1.98	13.35	0.58	0.08	0.32
		Including
	129.1	130.1	1.0	4.36	11.20	0.27	0.20	0.89
	And
	137.0	148.1	11.1	1.43	19.57	0.73	0.06	0.36
	And
	148.1	152.8	4.8	3.20	29.80	1.08	0.10	0.36
	And
	155.0	160.4	5.4	2.39	29.35	1.07	0.08	0.25
	And
	161.8	165.8	4.0	3.25	34.58	1.12	0.09	0.41
	And
	165.8	172.6	6.8	1.72	21.44	0.56	0.09	0.26
	204.6	205.9	1.3	2.60	4.40	0.15	0.01	0.51
	270.6	272.6	2.0	2.04	30.00	2.43	0.02	0.22
	282.1	286.7	4.6	0.25	19.74	0.20	2.31	5.04

*CMUG-26-37 through CMUG-26-41 were all drilled parallel to the mineralized body which ranges from 20 to 60m in thickness and has a known length of up to 650m.

Figures 1 through 5 present assay results from this latest batch of results and location maps of all drillholes presented in this news release.

About Campo Morado Exploration Program

The current Campo Morado drill campaign represents the first meaningful exploration program conducted on the property since 2014 and is designed to support the addition of mineral resources to the near- and medium-term mine plan.

To date, 47 underground diamond drillholes totaling 10,880m have been completed at the Campo Morado mine using “HQ” and/or “NQ” sized diamond drill core. These underground drillholes are focused on the definition of mineable resources proximal to existing underground workings, as well as testing new zones interpreted to host extensions of known mineralization based on the property’s extensive historical drilling database.

In addition, 11,570m have been drilled from 44 surface drillholes at the Reforma, El Rey, Reforma Deeps, Hidalgo and Zapata targets using “HQ” and/or “PQ” sized diamond drill core. These surface drillholes are designed to confirm and expand existing mineral resources at the Reforma and El Rey deposits, collect material for additional metallurgical test work, and support the potential inclusion of these deposits into an improved Campo Morado mine plan.

Previous exploration at Campo Morado has generated an extensive, high-quality proprietary geological database, including more than 600,000m of underground and surface drilling, property-wide geological and structural mapping, approximately 30,000 geochemical soil samples, and a range of airborne and ground-based geophysical surveys, including gravity, magnetics, electromagnetics and induced polarization. Interpretation of these datasets—particularly gravity surveys—has directly contributed to the discovery and definition of mineralized zones on the property and will continue to guide future exploration. Luca is currently compiling, cleaning and reinterpreting this geophysical database to prioritize the more than 38 exploration targets identified across the Campo Morado concession package.

Table 2: Underground and Surface Drill Collar Details for Released Results

Hole ID	UTM WGS84 Z14		Elevation (m)	Azimuth	Dip	Final Depth (m)
	Easting	Northing
CMUG-26-37	379210	2012134	1,132	36	34	275
CMUG-26-38	379207	2012132	1,132	25	34	323
CMUG-26-39	379207	2012132	1,132	18	31	316
CMUG-26-40	379207	2012132	1,132	18	24	261
CMUG-26-41	379208	2012132	1,131	6	33	352

Analytical Method and Quality Assurance/Quality Control Measures

All drill core splits reported in this news release were analysed by Bureau Veritas of Durango, Mexico, utilizing the Multi-Acid digestion ICP-ES 35-element MA300 analytical package with FA-430 30-gram Fire Assay with AAS finish for gold on all samples. Au over-limits from FA-430 are re-analyzed by FA530 30-gram Fire Assay with Gravimetric finish. Ag over-limits from ICP MA300 analytical package are re-analyzed by FA530 30-gram Fire Assay with Gravimetric finish. Similarly, Cu, Pb and Zn over-limits from ICP MA300 analytical package are re-analyzed by ICP Multi-Acid digestion MA370 package. All core samples were split by core saw on-site at Luca’s core processing facilities at the Campo Morado Mine. Once split, half were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were collected by Bureau Veritas at the Campo Morado Mine site and transported to their laboratory in Durango, where they were prepared into 250-gram pulps for gold fire assay. The pulps were then shipped to Bureau Veritas’s Analytical laboratory in Vancouver, B.C., for final ICP analysis.  A robust system of standards, 1/4 core duplicates and blanks were implemented in the 2025-2026 exploration drilling program and is monitored as chemical assay data become available.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Mr. Paul D. Gray, P.Geo., Vice-President Exploration at Luca Mining.  Mr. Gray is a Qualified Person for the Company as defined by National Instrument 43-101.

About Luca Mining Corp.

Luca Mining Corp. (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a Canadian mining company with two wholly owned mines located in the prolific Sierra Madre mineralized belt in Mexico. These mines produce gold, copper, zinc, silver, and lead and generate strong cash flow.  Both mines have considerable development and resource upside as well as significant exploration potential.

The Company’s Campo Morado Mine hosts VMS-style, polymetallic mineralization within a large land package comprising 121 square kilometres.  It is an underground operation, producing zinc, copper, gold, silver and lead. The mine is located in Guerrero State.

The Tahuehueto Mine is a large property of over 100 square kilometres in Durango State.  The project hosts epithermal gold and silver vein-style mineralization.  Tahuehueto is a newly constructed underground mining operation producing primarily gold and silver.  Luca has successfully commissioned its mill and is now in commercial production at Tahuehueto.

On Behalf of the Board of Directors

(signed) “Dan Barnholden”

Dan Barnholden, Chief Executive Officer

Contact Information:

Sophia Shane Director of Investor Relations sshane@lucamining.com +1 604 306 6867

For more information, please visit: www.lucamining.com

Cautionary Note Regarding Forward-Looking Statements

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, estimated production guidelines for 2026 and other possible events, conditions or performance that are based on assumptions about the proposed exploration program and its anticipated results; the timing and costs of future activities on the Company’s properties, such as production rates and increases and sustaining capital expenditures; success of exploration, development, and metres to be drilled in exploration on the Tahuehueto Mine site and the Campo Morado Mine 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 Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Tahuehueto Mine can be achieved; that consistent and sustainable mill feed at Campo Morado Mine will be achieved; the continuity of the price of gold and other metals and economic and political conditions. 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.

Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is pleased to report production results for the three months ended March 31, 2026, alongside continued strengthening of its balance sheet.

As at March 31, 2026, Luca’s cash position increased to approximately $36.4 million, compared to $25.5 million at year-end 2025. The increase was primarily driven by strong operating cash flow, supplemented by approximately $2.1 million in proceeds from warrant and option exercises and net realized gains of approximately $3.6 million from silver call options. These options were implemented to re-establish exposure to silver prices in light of the silver stream at Tahuehueto.

As previously disclosed in the Company’s Q4/25 financial results, debt has been reduced to approximately $1.4 million, with the remaining balance expected to be fully repaid by mid-2026.

Exploration Update

During the first quarter of 2026, the Company completed approximately 10,058 metres of drilling. Exploration activities were primarily focused on near-mine and resource expansion targets, achieving the objectives of extending mine life and improving production flexibility at the Company’s operating assets.

CEO Commentary

“We started 2026 on strong footing, with solid operating performance and strong silver production in a favorable price environment,” said Dan Barnholden, Chief Executive Officer. “We remain focused on operational improvements at both mines, with particular emphasis on Campo Morado as we advance the Campo Morado Expansion study toward a technical report in the second half of 2026.”

“With a significantly strengthened balance sheet, Luca is well positioned to continue executing on its growth strategy, including advancing exploration, operational optimization, and broader corporate initiatives.”

Non-GAAP Financial Measures

Management believes that the reported non-GAAP financial measures will enable certain investors to better evaluate the Company’s performance, liquidity, and ability to generate cash flow. These measures do not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these measures differently.

About Luca Mining Corp.

Luca Mining Corp. (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a Canadian mining company with two wholly owned mines located in the prolific Sierra Madre mineralized belt in Mexico. These mines produce gold, copper, zinc, silver, and lead and generate strong cash flow.  Both mines have considerable development and resource upside as well as significant exploration potential.

The Company’s Campo Morado Mine hosts VMS-style, polymetallic mineralization within a large land package comprising 121 square kilometres.  It is an underground operation, producing zinc, copper, gold, silver and lead. The mine is located in Guerrero State.

The Tahuehueto Mine is a large property of over 100 square kilometres in Durango State.  The project hosts epithermal gold and silver vein-style mineralization.  Tahuehueto is a newly constructed underground mining operation producing primarily gold and silver.  Luca has successfully commissioned its mill and is now in commercial production at Tahuehueto.

On Behalf of the Board of Directors

(signed) “Dan Barnholden”

Dan Barnholden, Chief Executive Officer

Contact Information:

Sophia Shane Director of Investor Relations sshane@lucamining.com +1 604 306 6867

Glen Sandwell Corporate Communications Manager ir@lucamining.com

For more information, please visit: www.lucamining.com

Cautionary Note Regarding Forward-Looking Statements

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, estimated production guidelines for 2025 and other possible events, conditions or performance that are based on assumptions about the proposed exploration program and its anticipated results; the timing and costs of future activities on the Company’s properties, such as production rates and increases and sustaining capital expenditures; success of exploration, development, and metres to be drilled in exploration on the Tahuehueto Mine site and the Campo Morado Mine 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 Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Tahuehueto Mine can be achieved; that consistent and sustainable mill feed at Campo Morado Mine will be achieved; the continuity of the price of gold and other metals and economic and political conditions. 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.

Transformational Year with 103% Revenue Growth, 226% Adjusted EBITDA Increase, $20.8 million in Net Free Cash Flow¹, and Significant Balance Sheet Strengthening

Vancouver, B.C., April 08, 2026: Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is pleased to report operational and financial results for the fourth quarter and year ended December 31, 2025.   The Company delivered a year of significant operational growth, achieving its revised production guidance for all metals and generating record annual revenue of $176.8 million, driven by the successful ramp-up of its operations. This strong performance materially strengthened the Company’s financial position, with:

•  Cash increasing to $25.5 million
• Long-term debt reduced by over 80% to $3.3 million; and
• Net free cash flow before working capital exceeded revised guidance by more than 100% to $20.8 million, including $15.5 million in the fourth quarter

The Company continues to execute on its strategic priorities as it enters 2026 from a position of increased financial strength and operational momentum.

2025 Highlights

• Continued emphasis on safe, disciplined operations: Strong focus on operational discipline during the year, reinforcing supervision visibility, housekeeping standards, and contractor coordination. Corrective actions implemented throughout the year contributed to improved operating stability, supporting more consistent underground and plant performance toward year end.

• Transformational Operational Growth: Tonnes mined and milled increased 53% and 51%, respectively, to 1.01 million tonnes, reflecting higher throughput and improved operational stability across both Campo Morado and Tahuehueto.

• Strong Multi-Metal Production Growth: Increase throughput resulted in significant growth across key metals, with silver production up 69%, zinc up 72%, lead up 53%, andcopper up 37% compared to 2024.  As a result, Luca achieved revised guidance for all metals produced, including payable silver production above the top end of revised guidance.

• Strategic Investment in Mine Development: Sustaining capital expenditures increased to $27.3 million as the Company accelerated underground development and exploration programs designed to improve mine sequencing, access higher-grade zones, and support long-term production reliability.

• Strong Financial Performance: Revenue increased 103% to $176.8 million from $87.2 million in 2024, whileAdjusted EBITDA increased 226% to $46.0 million, compared to $14.1 millionin 2024, driven by higher production levels and stronger realized precious metal prices.

• Significant Balance Sheet Improvement: The Company reduced loans payable from $17.0 million at December 31, 2024 to $3.3 million at December 31, 2025, representing a reduction of more than 80% during the year. As of the date of this MD&A, outstanding loans payable have been further reduced to $1.4 million.  Additionally, the Company achieved positive net free cashflow before working capital of $20.8 million, including $15.5 million in the fourth quarter and increased its cash and cash equivalents year-over-year to $25.5 million from $10.2 million at year end 2024.

• Exploration Programs Reinitiated to Support Resource Growth: During 2025, the Company reinitiated exploration activities across its projects for the first time in more than a decade.  To date, approximately 30,140 metres of exploration drilling have been completed, improving geological understanding of the deposits, identifying additional mineralized zones, and supporting potential resource expansion. These exploration programs represent an important step towards unlocking additional value within the Company’s asset portfolio and establishing a pipeline of future growth opportunities.

• Increased Equity Participation and Strengthened Liquidity: The Company received $20.0 million in proceeds from the exercise of 50,024,980 warrants and 4,932,681 stock options (2024: $3.4 million), reflecting increased participation by holders as the Company’s share price strengthened, further supporting liquidity and balance sheet strength.

Luca’s CEO, Dan Barnholden commented “2025 was a transformational year for Luca Mining. We delivered strong operational growth, significantly increased production across both mines, improved our performance, including strong free cash flow, all while strengthening our balance sheet and advancing our long-term exploration and development programs. With production exceeding revised guidance across all five metals, revenues more than doubling, and adjusted EBITDA increasing 226%, we enter 2026 well positioned to continue executing on our growth strategy and delivering sustainable value for shareholders”

Despite strong operating performance, the Company reported a net loss of $21.1 million for the year. This result was driven by non-cash and non-operating items, primarily the negative change in the non-cash fair value of derivative liabilities of $38.9 million associated with the silver stream, non-cash accounting adjustments under IFRS and foreign exchange impacts.

Excluding these factors, underlying operating performance improved significantly year-over-year, as reflected in strong growth in Adjusted EBITDA, Net Free Cashflow before working capital items and mine operating cash flow.

1. See Reconciliation of earnings before interest, taxes, depreciation, and amortization in the MD&A.
2. See “Non-IFRS Financial Measures” in the MD&A.
3. Based on provisional sales before final price adjustments, treatment, and refining charges.
4. Mine operating cash flow before taxes is calculated by adding back royalties, changes in inventory and depreciation and depletion to mine operating earnings. See Reconciliation to IFRS in the MD&A.
5. Net free cash flow before working is operating cash flow before working capital changes, less capital expenditures. See Reconciliation to IFRS in the MD&A.
6. Information presented herein for the three months and year ended December 31, 2024, has been adjusted to reflect the impact of the reclassification of certain transportation cost from revenues to cost of sales. See Note 2 of the consolidated financial statements as of December 31, 2025.

Operational Performance

The Company achieved a step-change in operational scale in 2025, driven by increased throughput and improved operating stability across both Campo Morado and Tahuehueto.

Higher production volumes more than offset the impact of lower precious metal grades and modestly lower recoveries, demonstrating the strong operating leverage of the Company’s assets. During the second half of the year, Luca significantly increased underground development and exploration activity to improve mine sequencing and access higher-grade zones, positioning the operations for improved performance going forward. 

Campo Morado (Guerrero, Mexico)

Campo Morado delivered strong operating performance in both the fourth quarter and full year 2025, reflecting increased throughput, improved plant stability, and continued progress on operational optimization initiatives.

In the fourth quarter, the mine processed 170,238 tonnes of mineralized material, representing a 21% increase over the same period in 2024. This resulted in strong production across key metals, including 9.2 million pounds of zinc (+75%), 1.3 million pounds of lead (+65%), and 277,789 ounces of silver (+61%), alongside 2.1 million pounds of copper (+5%) and gold production totaling 2,103 ounces (+5%). Total zinc equivalent pounds produced increased 59% to 30.9 million pounds from 19.5 million pounds in Q4 2024.

Cash costs averaged $1.08 per payable ZnEq pound (+11%), primarily reflecting higher treatment and refining charges, greater site support and indirect costs as the operation scaled up. All-in sustaining costs averaged $1.33 per ZnEq pound (+6%), primarily driven by increased sustaining capital expenditures, including underground development and the expansion of exploration programs. These investments are expected to support improved mine sequencing and access to higher-grade zones in future periods.

For the full year, Campo Morado contributed to consolidated throughput of over 700,152 tonnes milled (+38%), supporting significant increases in production across base metals. Zinc production reached 38.7 million pounds (+77%), lead 4.9 million pounds (+52%), and copper 9.0 million pounds (+31%), while silver production totaled 1.0 million ounces (+56%) and gold totalled 8,735 ounces (+29%). 

On an annual basis, cash costs decreased to $0.99 per zinc equivalent pound (-9%) reflecting the benefits of increased production volumes. Sustaining capital expenditures increased significantly to support accelerated underground development and exploration programs, which are expected to improve mine sequencing, operational flexibility, and access to higher-grade zones in future periods.  All-in Sustaining Costs per pound remained consistent at $1.24 per zinc equivalent pound as the increased sustaining capital spend was offset by higher production levels.

Operational initiatives focused on improving blending control, reagent optimization, and circuit stability continued to enhance metallurgical performance and concentrate quality. Improved ore blending practices and process control adjustments contributed to more consistent recoveries during the second half of the year.

Underground development advanced new mining areas and improved access to additional stopes, supporting both near-term production stability and longer-term operational flexibility. Exploration drilling during the year also returned encouraging results adjacent to existing workings, reinforcing the potential for near-mine resource expansion and future production growth.

Tahuehueto (Durango, Mexico)

Tahuehueto delivered a transformative year in 2025, achieving commercial production on March 31, 2025, and continued to increase operating scale through the year, contributing significantly to the Company’s overall growth in production and financial performance.

In the fourth quarter, the mine processed approximately 90,737 tonnes (+34%) of ore as throughput continued to ramp up with improving plant availability. Gold production of 4,285 ounces (-16%) was impacted by lower grades during the period as mining progressed through development areas, while silver production of 106,256 ounces remained strong, benefiting from increased grades, throughput and improved plant stability. Overall gold equivalent production decreased 5% to 6,929 ounces in Q4 2025.

Cash costs per AuEq ounce sold averaged $2,197 (+67%), reflecting the lower ounces produced. All-in sustaining costs increased to $3,201 in the quarter (+110%), driven by lower gold grades, continued mine development, and increased exploration expenditures as the operation advances toward steady-state performance.

For the full year, Tahuehueto processed 311,629 tonnes compared to 165,470 in 2024, with gold production contributing 17,410 ounces (+39%), alongside strong silver production growth of 316,166 ounces (+137%), reflecting a full year of ramp-up and increasing operational stability. Total gold equivalent ounces produced for the year increased to 26,200 (+42%).

On an annual basis, cash cost per AuEq ounce sold was $2,176 versus $1,560, and AISC per AuEq ounce sold was $2,832 versus $1,845. The year-over-year increase in AISC reflected higher sustaining and ramp-up-related expenditures as the Company invested in underground development, plant improvements and mine infrastructure to support long-term operating stability.

During the year, the Company advanced installation of a copper-lead separation circuit, with mechanical installation substantially completed in the fourth quarter. This system is expected to improve recoveries, concentrate quality, and payabilities by enabling the production of separate copper and lead concentrates. Commissioning is expected in 2026.

Underground development accelerated during the second half of the year, improving mine sequencing and operational flexibility, while exploration drilling continued to return encouraging results from near-mine targets.

This news release should be read in conjunction with the company’s consolidated financial statements for the year ended December 31, 2025 and associated Management’s Discussion and Analysis (“MD&A”) which are available on the Company’s website, www.lucamining.com and on Sedar+ at www.sedarplus.com.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Mr. Paul D. Gray, P.Geo., Vice-President Exploration at Luca Mining.  Mr. Gray is a Qualified Person for the Company as defined by National Instrument 43-101.

About Luca Mining Corp.

Luca Mining Corp. (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a Canadian mining company with two wholly owned mines located in the prolific Sierra Madre mineralized belt in Mexico. These mines produce gold, copper, zinc, silver, and lead and generate strong cash flow.  Both mines have considerable development and resource upside as well as district scale exploration potential.

The Company’s Campo Morado Mine hosts VMS-style, polymetallic mineralization within a large land package comprising 121 square kilometres.  It is an underground operation, producing zinc, copper, gold, silver and lead. The mine is located in Guerrero State.

The Tahuehueto Mine is a large property of over 100 square kilometres in Durango State.  The project hosts epithermal gold and silver vein-style mineralization. Tahuehueto is a newly constructed underground mining operation producing primarily gold and silver.  The Company has successfully commissioned its mill and is now in commercial production.

On Behalf of the Board of Directors

(signed) “Dan Barnholden”

Dan Barnholden, Chief Executive Officer

Contact Information:

Sophia Shane Director of Investor Relations sshane@lucamining.com +1 604 306 6867

For more information, please visit: www.lucamining.com

Cautionary Note Regarding Forward-Looking Statements

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, estimated production guidelines for 2025 and other possible events, conditions or performance that are based on assumptions about the proposed exploration program and its anticipated results; the timing and costs of future activities on the Company’s properties, such as production rates and increases and sustaining capital expenditures; success of exploration, development, and metres to be drilled in exploration on the Tahuehueto Mine site and the Campo Morado Mine 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 Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Tahuehueto Mine can be achieved; that consistent and sustainable mill feed at Campo Morado Mine will be achieved; the continuity of the price of gold and other metals and economic and political conditions. 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.