Q2 Revenue Increases to 58.4 Million; First-Half Net Earnings Reach 23.1 Million

Vancouver, B.C., August 17, 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 second quarter and six months ended June 30, 2026.   The Company delivered another strong financial quarter, generating revenue of $58.4 million, net earnings of $10.5 million, adjusted net earnings of $6.9 million and Adjusted EBITDA of $14.3 million. Revenue increased 47% and mine operating earnings increased 90% compared to Q2 2025, supported by significantly stronger realized metal prices and continued contributions from both operations.

For the first six months of 2026, Luca generated $116.0 million of revenue, $23.1 million of net earnings and $36.7 million of Adjusted EBITDA. Strong operating cash generation enabled the Company to fund significant underground development, sustaining capital, infrastructure and exploration expenditures, substantially reduce debt, meet its obligations under the Empress silver stream, repurchase shares under its Normal Course Issuer Bid (“NCIB”), and maintain a cash balance of $24.7 million at June 30, 2026.

Q2 2026 Highlights

• Strong and consistent quarterly revenue: Revenue increased 47% to $58.4 million compared with $39.7 million in Q2 2025 and remained above the $57.6 million generated in Q1 2026. First-half revenue reached $116.0 million, an increase of 43% over the comparable period of 2025. Q2 revenue included $1.9 million of negative provisional pricing adjustments related to concentrate shipments made in prior periods.
• Strong profitability continued in Q2: Net earnings were $10.5 million, or $0.04 per share, compared with a net loss of $3.2 million in Q2 2025. Together with the $12.6 million earned in Q1 2026, Luca generated $23.1 million of net earnings in the first six months of 2026, compared with $1.3 million in the first half of 2025. Adjusted EBITDA increased 156% year-over-year to $14.3 million for Q2 and for the first six months of 2026, Adjusted EBITDA reached $36.7 million.
• Positive free cash flow while continuing significant investment: Operating cash flow before working capital changes was $13.9 million during Q2 2026. After approximately $11.3 million of capital investment, the Company generated free cash flow before working capital changes of $2.6 million, compared with negative $3.2 million in Q2 2025. The quarter’s capital investment included continued spending on underground development, infrastructure and record levels of exploration activity.

• Tahuehueto exceeded expected throughput: Tonnes milled increased 13% from Q1 2026 and 23% year-over-year, with the operation averaging 1,115 tonnes milled per operating day, exceeding its 1,000 tpd installed plant capacity. Tonnes mined increased 28%, silver production increased 39%, copper production increased 47% and overall AuEq production increased 10% compared with Q2 2025.
• Advanced Campo Morado optimization strategy: Campo Morado produced 32.3 million ZnEq pounds, an increase of 6% compared with Q2 2025. Mining continued to outpace processing as the Company intentionally built ore stockpiles to increase near-term feed blending flexibility while advancing long-term metallurgical optimization initiatives.
• Continued investment in future production flexibility: Sustaining capital expenditures totaled $8.5 million during Q2 and $16.6 million during the first six months of 2026. Investment remained focused on underground development, mine infrastructure, tailings management, processing improvements and operational reliability.

Production and financial performance in Q2 2026 continued to reflect the Company’s strategy of investing operating cash flow into underground development, mine preparation, infrastructure and exploration to strengthen the operating platform at both mines. Consolidated tonnes mined increased 6% and tonnes milled increased 3% compared with Q2 2025, while silver production increased 19% and copper production increased 3%.

Dan Barnholden, Chief Executive Officer, commented: “The second quarter reflects another period of significant investment as we continued to strengthen both operations. During the first half, we invested more than $21 million into underground development, infrastructure and exploration, including our highest quarterly exploration drilling activity in at least a decade. These investments are focused on improving operating performance, increasing production flexibility and advancing the significant growth opportunities across our properties.

Operationally, Tahuehueto continues to perform strongly, with mill throughput exceeding budgeted capacity during the quarter, while at Campo Morado we built a stockpile to advance metallurgical optimization initiatives designed to improve near-term recoveries ahead of the Campo Morado Expansion. At both operations, we remain focused on converting these investments into improved operational performance and long-term cash flow generation.

 At the same time, we have made significant progress strengthening the balance sheet. We have substantially reduced our debt while continuing to meet our obligations under the Empress silver stream and advance toward its stepdown threshold. With these financial obligations increasingly behind us, we expect a greater proportion of future operating cash flow to be available to support our operations, growth initiatives and shareholders.”

1. See Reconciliation of earnings before interest, taxes, depreciation, and amortization on page 40 of the MD&A.
2. See “Non-IFRS Financial Measures” on page 38 of 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 on page 38 of the MD&A.
5. Free cash flow before working capital changes is operating cash flow before working capital changes, less capital expenditures. See page 39 of the MD&A.
6. Information presented herein for the three and six months ended June 30, 2025, has been adjusted to reflect the impact of the reclassification of certain transportation costs from revenues to cost of sales. See Note 2 of the condensed consolidated interim financial statements.

Operational Performance

Consolidated tonnes mined increased 6% to 267,028 tonnes during Q2 2026 over Q2 2025 and tonnes milled increased 3% to 260,461 tonnes. Consolidated silver production increased 19% to 334,237 ounces, while copper production increased 3% to 2.7 million pounds. Gold production decreased 7% to 6,161 ounces, zinc production decreased 26% to 8.9 million pounds and lead production decreased 12% to 1.9 million pounds.

Campo Morado (Guerrero, Mexico)

Campo Morado produced 32.3 million pounds of ZnEq during Q2 2026, an increase of 6% compared with 30.4 million pounds in Q2 2025. Tonnes mined totaled 174,497 while tonnes milled totaled 171,237, as mining intentionally outpaced processing to build ore stockpiles and improve future feed blending and operating flexibility.

Precious metal grades improved significantly during the quarter, with gold grades increasing 42% and silver grades increasing 45% compared with Q2 2025. Silver production increased 13% to 234,896 ounces. Metallurgical recoveries, however, remained below prior-year levels as the operation processed ore from multiple mining areas while advancing feed blending and metallurgical optimization initiatives.

The Company continued implementing reagent optimization, flotation circuit improvements and feed blending controls while advancing rehabilitation and optimization of flotation circuits, pumping systems, tailings infrastructure and other critical plant assets. Underground development remained focused on the Naranjo, Largo Norte, Fish and Southwest areas.

Cash cost per ZnEq payable pound sold was $1.02/lb compared with $0.91/lb in Q2 2025. AISC was $1.33/lb, compared with $1.29/lb in Q2 2025, reflecting increased mining and development activity, higher treatment charges and continued investment in sustaining capital. ZnEq payable pounds sold increased 7% during the quarter.

Exploration activity remained significant, with approximately 9,000 metres of diamond drilling completed at Campo Morado during Q2, including underground, surface and geotechnical drilling. The program continues to target near-mine resource additions and the broader district-scale exploration potential of the property.

Tahuehueto (Durango, Mexico)

Tahuehueto continued to strengthen its operating performance during Q2 2026 over Q2 2025. Tonnes mined increased 28% to 92,531 tonnes and tonnes milled increased 23% to 89,224 tonnes. Average throughput reached 1,115 tonnes milled per operating day, exceeding the plant’s 1,000 tpd installed capacity.

Higher throughput and stronger silver and base-metal grades supported improved production across several metals. Silver production increased 39% to 99,340 ounces, zinc production increased 16% to 1.6 million pounds and copper production increased 47% to 434 thousand pounds. Overall AuEq production increased 10% to 7,397 ounces.

Gold production decreased 8% to 4,461 ounces as lower gold grades and metallurgical recoveries offset higher throughput. The operation continued advancing underground development into additional mining areas while implementing flotation optimization, reagent adjustments and feed blending controls to improve metallurgical stability.

The transition of underground mining activities to contractor La Cantera continued to support increased mining and processing activity, with additional infrastructure investments in power distribution, compressed air, ventilation, pumping and underground preparation intended to improve production flexibility and operational continuity.

Cash cost was $3,011 per AuEq ounce sold and AISC was $3,538 per AuEq ounce sold, reflecting the increased operating scale, underground development and mine preparation activity, lower gold grades and recoveries, and continued investment in mine and processing infrastructure. Sustaining capital totaled $2.5 million during the quarter.

The Company remains focused on converting the investments made across both operations into improved metallurgical recoveries, production consistency and operational efficiency for sustainable long-term free cash flow generation.

This news release should be read in conjunction with the company’s condensed consolidated interim financial statements for the three and six months ended June 30, 2026 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 scientific and 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, silver, zinc, copper, 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	Maximilian Myers  Manager Corp Dev & Investor Relations  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 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 announce new underground drill results from its ongoing exploration program at the Campo Morado polymetallic VMS mine in Guerrero State, Mexico. The results continue to expand high-grade mineralization in multiple unmined zones located adjacent to existing underground infrastructure, highlighting the potential to grow near-mine resources and extend mine life. 

Highlights 

• Continued success expanding high-grade, gold and silver-rich VMS mineralization immediately adjacent to existing underground infrastructure, highlighting the potential to improve near-term grades and extend mine life 

• Underground drillhole CMUG-26-50 intersected 183.7 metres (“m”) of 1.18 g/t Au, 72.42 g/t Ag, 0.39% Cu, 0.45% Pb and 1.67% Zn from 3.6 m; including 18.3 m of 2.64 g/t Au, 152.34 g/t Ag, 0.53% Cu, 1.05% Pb and 2.52% Zn from 11.9 m in the unmined Large Norte zone 

• Surface drillhole CMNJ-26-02 intersected 9.6 metres (“m”) of 4.05 g/t Au, 241.09 g/t Ag, 0.90% Cu, 1.57% Pb and 2.72% Zn from 175.3 m; including 1.2 m of 5.83 g/t Au, 509.00 g/t Ag, 0.70% Cu, 2.63% Pb and 0.42% Zn from 176.7 m in the unmined Naranjo zone 

• Underground drillhole CMUG-26-46 intersected 90.6 m of 0.99 g/t Au, 40.07 g/t Ag, 0.94% Cu, 0.18% Pb and 0.73% Zn from 0.0 m, including 11.7 m of 2.86 g/t Au, 43.73 g/t Ag, 0.96% Cu, 0.68% Pb and 1.55% Zn from 79.2 m, expanding previously defined mineralization in the unmined Naranjo zone  

• Exploration drilling continues at Campo Morado with two surface drill rigs and one underground drill rig. To date, 13,571 m has been drilled from 60 underground drillholes and 20,063 m has been drilled from 75 surface drillholes 

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

“These latest drill results continue to demonstrate the significant upside that exists at Campo Morado beyond our current mine plan. We are consistently intersecting long intervals of high-grade polymetallic mineralization in multiple unmined zones located close to existing underground infrastructure, providing an opportunity to grow resources while leveraging the mine’s existing development.” 

“Naranjo, Largo Norte and El Rey continue to deliver encouraging results, with drilling expanding the known extent of mineralization while increasing our confidence in the continuity of these zones. As drilling progresses, we continue to identify zones that have potential to extend mine life, improve production flexibility and support the long-term outlook for Campo Morado, which we plan to compile into a forthcoming technical report.” 

Near-Mine Underground Drilling 

Underground drillhole CMUG-26-46 through CMUG-26-49 targeted the Naranjo zone from underground drill stations while CMNJ-26-01 through CMNJ-26-03 targeted Naranjo from surface; all drillholes successfully intersected mineralization from this unmined zone with the underground drillholes increasing the deposit confidence and the surface holes expanding the Naranjo bounds.  Highlights include:   

Naranjo: 

• CMUG-26-46: 

• 90.6 m of 0.99 g/t Au, 40.07 g/t Ag, 0.94% Cu, 0.18% Pb and 0.73% Zn from 0.0 m, including 18.8 m of 0.75 g/t Au, 51.64 g/t Ag, 2.12% Cu, 0.10% Pb and 0.35% Zn from 36.4 m and including 11.4 m of 2.86 g/t Au, 43.73 g/t Ag, 0.96% Cu, 0.68% Pb and 1.55% Zn from 79.2 m 

• CMUG-26-47: 

• 60.0m of 1.39 g/t Au, 134.81 g/t Ag, 1.07% Cu, 0.88% Pb and 1.95% Zn from 120.1 m  

• CMUG-26-48: 

• 149.5 m of 0.44 g/t Au, 35.80 g/t Ag, 0.85% Cu, 0.20% Pb and 1.44% Zn from 0.0m, including 24.2 m of 2.18 g/t Au, 49.10 g/t Ag, 0.53% Cu, 0.48% Pb and 2.09% Zn from 89.6 m  

• CMUG-26-49: 

• 154.9 m of 0.65 g/t Au, 35.27 g/t Ag, 0.80% Cu, 0.13% Pb and 1.43% Zn from 0.0 m; including 59.0 m of 1.51 g/t Au, 43.19 g/t Ag, 0.75% Cu, 0.20% Pb and 1.12% Zn from 44.9 m which includes: 

• 6.3 m of 3.90 g/t Au, 72.09 g/t Ag, 0.59% Cu, 0.36% Pb and 1.32% Zn from 73.8 m 

• 5.6 m of 2.79 g/t Au, 69.99 g/t Ag, 0.99% Cu, 0.27% Pb and 1.72% Zn from 83.6 m 

• CMNJ-26-02: 

• 9.6 m of 4.05 g/t Au, 241.09 g/t Ag, 0.90% Cu, 1.57% Pb and 2.72% Zn from 175.3 m; including 1.2 m of 5.83 g/t Au, 509.00 g/t Ag, 0.70% Cu, 2.63% Pb and 0.42% Zn from 176.7 m; and: 

• 10.5 m of 1.35 g/t Au, 75.56 g/t Ag, 0.59% Cu, 0.69% Pb and 2.91% Zn from 193.0 m 

• 22.4 m of 3.34 g.t Au, 51.38 g/t Ag, 0.45% Cu, 0.30% Pb and 0.80% Pb from 207.6 m 

Additional to the Naranjo target, the Largo Norte, El Rey and Estrella de Oro zones were tested, and drillhole intercepts served to expand known boundaries of both deposits; highlights include: 

Largo Norte: 

• CMUG-26-50: 

• 183.7 m of 1.18 g/t Au, 72.42 g/t Ag, 0.39% Cu, 0.45% Pb and 1.67% Zn from 3.6 m; including 18.3 m of 2.64 g/t Au, 152.34 g/t Ag, 0.53% Cu, 1.05% Pb and 2.52% Zn from 11.9 m; and including: 

• 3.0 m of 1.35 g/t Au, 427.65 g/t Ag, 0.54% Cu, 3.79% Pb and 14.69% Zn from 49.5 m 

• 7.9 m of 2.80 g/t Au, 89.65 g/t Ag, 0.50% Cu, 0.54% Pb and 1.73% Zn from 63.5 m 

El Rey: 

• CMRY-26-17: 

• 15.4 m of 0.82 g/t Au, 59.74 g/t Ag, 0.63% Cu, 0.34% Pb and 2.88% Zn from 73.4 m, including s high-grade interval of 1.1 m of 4.11 g/t Au, 115.10 g/t Ag, 0.63% Cu, 1.79% Pb and 3.77% Zn from 87.6 m  

• CMRY-26-18: 

• 5.0 m of 0.75 g/t Au, 58.30 g/t Ag, 0.50% Cu, 0.62% Pb and 3.85% Zn from 88.7 m  

Estrella de Oro: 

• CMEO-26-01: 

• 4.4 m of 1.64 g/t Au, 200.01 g/t Ag, 0.86% Cu, 0.41% Pb and 0.35% Zn from 200.8 m  

These recent intersections from the unmined Naranjo zone highlight the multiple opportunities to add additional mineable resources proximal to current development headings, existing infrastructure and expand previously defined mineral resources.  Moreover, the El Rey drillholes analytical results continue to showcase the potential to add tonnage to new areas currently being developed into the long-term Campo Morado mine plan. 

Surface drilling continues, with the current focus on Estrella de Oro and Naranjo in conjunction with on-going underground drilling planned to target the A9, Muñeco, Bajo and Fish deposits, which all contribute to the 2026–2028 mine plans. 

Table 1: Highlight Diamond Drill Assay Results from UG Drillholes CMUG-26-47 through CMUG-26-50, CMRY-26-14 through CMRY-26-18, CMNJ-26-01 through CMNJ-26-03 and CMEO-26-01 

Hole ID	From (m)	To (m)	Interval (m)*	Au g/t	Ag g/t	Cu%	Pb%	Zn%
CMUG-26-46	0.0	90.6	90.6	0.99	40.07	0.94	0.18	0.73
	Including
	0.0	36.4	36.4	0.58	34.67	0.49	0.09	0.70
	36.4	55.1	18.8	0.75	51.64	2.12	0.10	0.35
	61.3	65.0	3.7	1.71	51.49	0.69	0.21	1.77
	79.2	90.6	11.4	2.86	43.73	0.96	0.68	1.55
	141.0	144.2	3.2	0.08	44.92	1.77	0.00	0.05
	Including
	141.0	142.0	1.0	0.16	103.40	4.28	0.01	0.08
CMUG-26-47	3.8	9.1	5.3	0.19	104.25	4.49	0.08	0.69
	17.3	24.5	7.2	0.05	89.89	3.72	0.04	0.36
	40.9	46.5	5.6	0.07	48.33	1.72	0.02	0.25
	66.4	71.1	4.7	0.20	65.58	1.95	0.20	0.80
	Including
	66.4	68.6	2.1	0.23	87.64	2.74	0.14	0.90
	And
	79.5	90.4	10.9	0.20	40.18	0.71	0.83	1.44
	Including
	79.5	83.8	4.3	0.21	51.37	0.83	1.05	1.93
	And
	99.3	105.9	6.6	0.21	52.39	1.18	0.64	1.83
	120.1	180.0	60.0	1.39	134.81	1.07	0.88	1.95
	191.2	197.3	6.1	1.35	104.53	0.17	0.31	0.05
	210.4	212.6	2.3	0.30	165.34	0.47	0.02	0.03
	220.5	221.5	0.9	4.14	157.10	0.61	2.56	6.90
CMUG-26-48	0.0	149.5	149.5	0.44	35.80	0.85	0.20	1.44
	Including
	3.0	9.3	6.3	0.09	19.03	0.52	0.06	1.25
	18.9	28.6	9.7	0.08	60.90	1.91	0.11	0.78
	31.5	34.5	3.0	0.07	45.16	1.09	0.14	1.06
	52.1	57.8	5.7	0.05	36.66	1.28	0.07	0.82
	67.4	77.3	10.0	0.26	46.38	1.53	0.11	0.82
	79.7	88.9	9.2	0.34	60.39	1.37	0.34	2.19
		Including
	79.7	83.3	3.6	0.43	117.10	2.69	0.63	3.38
	And
	89.6	113.7	24.2	2.18	49.10	0.53	0.48	2.09
CMUG-26-49	0.0	154.9	154.9	0.65	35.27	0.80	0.13	1.43
	Including
	7.5	13.0	5.5	0.17	46.41	2.00	0.10	1.90
		Including
	7.5	9.5	2.0	0.24	51.55	3.07	0.06	2.11
		And
	33.1	38.1	5.0	0.17	60.74	1.59	0.10	1.71
	44.9	103.9	59.0	1.51	43.19	0.75	0.20	1.12
		Including
	62.1	63.8	1.7	2.34	52.31	1.33	0.21	1.57
	73.8	80.0	6.3	3.90	72.09	0.59	0.36	1.32
	83.6	89.2	5.6	2.79	69.99	0.99	0.27	1.72
	95.9	100.0	4.1	0.36	39.16	0.67	0.04	2.41
		And
	114.8	121.8	7.0	0.36	47.30	0.81	0.09	1.68
	140.1	149.0	8.9	0.04	27.79	0.66	0.03	3.21
	151.5	154.9	3.4	0.51	48.24	0.45	0.47	5.08
CMUG-26-50	3.6	187.3	183.7	1.18	72.42	0.39	0.45	1.67
	Including
	7.7	9.2	1.6	1.84	2.90	0.04	0.04	0.68
	11.9	30.2	18.3	2.64	152.34	0.53	1.05	2.52
		Including
	28.0	29.2	1.2	6.37	1156.00	0.25	7.86	14.59
		And
	35.0	38.0	3.0	2.02	196.25	0.07	1.46	1.71
	49.5	52.5	3.0	1.35	427.65	0.54	3.79	14.69
	42.2	81.7	39.6	1.69	164.93	0.51	0.97	4.63
		Including
	63.5	71.4	7.9	2.80	89.65	0.50	0.54	1.73
		And
	81.7	88.0	6.3	0.81	49.15	0.21	0.33	0.89
	99.4	122.7	23.3	1.25	45.47	0.50	0.31	0.79
	134.3	138.8	4.5	1.49	23.87	0.57	0.13	0.58
	140.0	141.5	1.5	8.63	49.60	0.69	0.11	0.70
	159.0	187.3	28.3	0.77	40.20	0.68	0.24	1.20
CMRY-26-14	No Significant Values
CMRY-26-15	No Significant Values
CMRY-26-16	No Significant Values
CMRY-26-17	73.4	88.7	15.4	0.82	59.74	0.63	0.34	2.88
	Including
	78.9	81.3	2.3	0.58	60.20	0.66	0.25	5.23
	87.6	88.7	1.1	4.11	115.10	0.63	1.79	3.77
CMRY-26-18	88.7	93.7	5.0	0.75	58.30	0.50	0.62	3.85
CMNJ-26-01	43.9	48.8	4.9	0.03	9.34	0.98	0.00	0.03
	64.7	77.4	12.7	0.05	13.18	0.96	0.00	0.08
	101.4	104.9	3.5	0.82	2.78	0.32	0.00	0.09
CMNJ-26-02	121.2	127.0	5.8	0.31	55.11	1.23	0.06	0.05
	175.3	184.9	9.6	4.05	241.09	0.90	1.57	2.72
	Including
	176.7	177.9	1.2	5.83	509.00	0.70	2.63	0.42
	And
	193.0	203.5	10.5	1.35	75.56	0.59	0.69	2.91
	207.6	230.0	22.4	3.34	51.38	0.45	0.30	0.80
CMNJ-26-03	30.8	34.5	3.6	0.34	36.74	0.73	0.01	0.03
	56.5	59.2	2.7	0.22	12.45	1.14	0.01	0.07
	75.2	82.8	7.6	0.09	51.57	1.19	0.06	0.09
	Including
	81.9	82.8	0.9	0.23	44.50	7.93	0.04	0.07
	And
	96.4	100.0	3.6	0.06	34.01	2.28	0.01	0.74
	105.7	111.7	6.0	0.09	18.51	1.39	0.01	0.07
	133.0	136.0	3.1	1.02	56.92	0.59	0.32	0.55
CMEO-26-01	94.1	95.0	0.9	2.38	36.00	0.06	0.57	0.82
	200.8	205.3	4.4	1.64	200.01	0.86	0.41	0.35
	206.5	209.3	2.8	0.34	115.94	0.23	0.52	0.28
	210.1	210.6	0.4	1.25	45.00	0.37	0.38	0.51
	Including
	217.2	217.6	0.4	0.63	95.80	0.96	1.64	2.56
	And
	225.9	239.7	13.7	0.19	24.09	0.36	0.15	1.51
	Including
	228.7	230.2	1.5	0.46	45.90	0.26	0.42	2.89
	237.2	238.0	0.8	0.36	105.40	2.57	0.19	3.90
	And
	321.8	323.2	1.5	0.02	36.00	0.91	0.07	0.02

*CMUG-26-46 through CMUG-26-49 were all drilled parallel to the Naranjo body which ranges from 20 to 100m in thickness and has a known length of up to 540m and width of up to 210m.  CMUG-26-50 was drilled drilled parallel to the Largo body which ranges from 20 to 60m in thickness and has a known length of up to 650m. CMNJ-26-01 through CMNJ-26-03 and CMEO-26-01 were drilled across the Naranjo and Estrella de Oro bodies, respectively, and represent ~90% of true width. 

Figures 1 through 11 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, 60 underground diamond drillholes totaling 13,571 m 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, 20,063 m have been drilled from 75 surface drillholes at the Reforma, El Rey, Reforma Deeps, Hidalgo, Zapata, Estrella de Oro, Naranjo, Carranza and Muzquiz 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, greater than 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-26-46	379633	2011854	1,171	242	-14	155.0
CMUG-26-47	379648	2011887	1,174	25	36	247.5
CMUG-26-48	379647	2011886	1,174	8	39	199.5
CMUG-26-49	379647	2011886	1,174	9	43	181.5
CMUG-26-50	379238	2012138	1,135	45	31	209.0
CMRY-26-14	379844	2013049	1,536	43	-50	407.9
CMRY-26-15	379843	2013050	1,536	358	-70	280.7
CMRY-26-16	379995	2012662	1,521	29	-51	350.0
CMRY-26-17	379791	2013199	1,433	249	-57	140.1
CMRY-26-18	379792	2013199	1,433	348	-88	137.3
CMNJ-26-01	379871	2012368	1,445	0	-89	201.2
CMNJ-26-02	379866	2012369	1,445	148	-47	291.9
CMNJ-26-03	379866	2012369	1,445	120	-45	243.3
CMEO-26-01	378835	2012015	1,281	294	-54	383.6

Analytical Method and Quality Assurance/Quality Control Measures 

All drill core splits reported in this news release were analyzed 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. 

Grant of Stock Options and Restricted Share Units 

The Company has granted an aggregate of 1,725,000 incentive stock options (“Options”) and 1,962,500 Restricted Share Units (“RSUs”) to certain officers and directors in accordance with Luca’s omnibus equity incentive plan. The Options are exercisable at a price of C$1.00 and will expire five years from the date of their issuance. The Options will vest as follows: (i) 33% on July 29, 2026; (ii) 33% January 29, 2027; and (iii) the balance on July 29, 2027. The RSU’s will vest on July 29, 2027.  

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

Maximilian Myers  Manager Corp Dev & Investor Relations  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 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.