Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) announces that, further to its news release dated September 21, 2026 where Luca announced, among other things, a $110 million “bought deal” private placement (the “Brokered Offering”) of subscription receipts of the Company (“Subscription Receipts”), it has entered into a binding commitment (the “Financing Commitment”) with Goldgroup Mining Inc. (“Goldgroup”), pursuant to which Goldgroup will participate in the Brokered Offering for gross proceeds of US$75 million, or such other amount representing a 19.9% ownership interest in Luca on a non-diluted pro forma basis after giving effect to the Transaction (as defined below). Trafigura Pte Ltd.  (“Trafigura”) and Goldgroup have agreed that the Financing Commitment replaces the $75 million equity backstop previously provided by Trafigura. The net proceeds from the Brokered Offering will be used to fund a portion of the cash consideration for the acquisition of the Cozamin Mine (the “Transaction”). 

Each Subscription Receipt to be held by Goldgroup will be convertible into one common share of Luca (“Luca Share”) on the earlier of: (i) the satisfaction of all escrow release conditions, including, among other things, the completion or satisfaction of all conditions precedent for the Transaction and the receipt of all required corporate and regulatory approvals in connection with the Transaction (the “Escrow Release Conditions”); and (ii) Goldgroup’s election to convert the Subscription Receipts into Luca Shares, provided that such conversion does not result in Goldgroup holding more than 19.9% of the issued and outstanding Luca Shares on a non-diluted basis, or Luca having to obtain shareholder approval for the Brokered Offering, in accordance with applicable securities laws or stock exchange policies. The terms of the Brokered Offering otherwise remain as set forth in the September 21, 2026 news release. 

In connection with the Financing Commitment, Luca also agreed to provide Goldgroup with certain investor rights (the “Investor Rights”) once and for so long as Goldgroup beneficially owns at least 10% of the outstanding Luca Shares. The Investor Rights include the right to nominate two directors to the Company’s board of directors and equity participation and anti-dilution rights, subject to certain conditions. 

Closing of the Brokered Offering, including Goldgroup’s participation therein and the grant of the Investor Rights, remains subject to, among other things, the approval of the TSX Venture Exchange (the “TSXV”). 

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, generating 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 September 17, 2026, Luca announced that it entered into an agreement to acquire the El Barqueño Project, which is expected to close in Q4 2026, subject to receipt of regulatory approvals and customary closing conditions. The El Barqueño Project is a large-scale exploration and development property covering over 32,000 hectares in Jalisco State. Previously operated by Agnico Eagle, the El Barqueño Project is located approximately 100 kilometres west of Guadalajara and is accessible by paved and secondary roads. El Barqueño hosts a historical 2025 Mineral Resource estimate of 399,265 ounces of gold equivalent at 1.47 g/t AuEq in the Indicated category, with an additional 650,046 ounces at 1.43 g/t AuEq in the Inferred category. Following closing, Luca plans to advance permitting to enable exploration drilling and development studies. 

On September 21, 2026, Luca announced that it entered into an agreement with Capstone Copper Corp. (“Capstone”) to acquire 100% of the Cozamin Mine in Zacatecas, Mexico for total upfront consideration of $290 million and up to an additional $95 million in deferred and contingent consideration. The Cozamin Mine is a long-standing, cash-generating underground copper-silver mine with 20 years of continuous production. Based on current consensus estimates, the Transaction is expected to more than double Luca’s 2027 production profile, increase cash flow generation, and increase the Company’s exposure to copper and silver. The Transaction also expands Luca’s operating footprint into Zacatecas, one of Mexico’s most productive mining regions. 

The Cozamin Mine has a long operating history and a historical mine plan supporting mine life through 2030, based on historical Mineral Reserve estimates disclosed by Capstone. Luca intends to undertake an extensive program of resource validation and exploration following closing, with the objective of extending mine life and demonstrating the long-term free cash flow generation potential of Cozamin. Luca has not adopted the historical mine plan and intends to develop an updated mine plan following completion of its review and verification of the historical technical information. 

On Behalf of the Board of Directors 

(signed) “Dan Barnholden” 

Dan Barnholden, Chief Executive Officer 

Contact Information

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: the completion, structure and terms of the Financing Commitment and the Brokered Offering; the amount to be invested by Goldgroup and Goldgroup’s resulting ownership interest in the Company; the issuance of Subscription Receipts to Goldgroup and the conversion of such Subscription Receipts into Luca Shares; the satisfaction of the Escrow Release Conditions; Goldgroup not holding more than 19.9% of the issued and outstanding Luca Shares on a non-diluted basis; the Company not being required to obtain shareholder approval for the Brokered Offering, including Goldgroup’s participation therein; the completion, terms and anticipated timing of the Transaction; the use of the net proceeds of the Brokered Offering; the grant, continuation and exercise of the Investor Rights; the anticipated benefits of the Transaction, including the impact of the Transaction on the Company’s production profile, cash flow generation, exposure to copper and silver and operating footprint; the Company’s plans to undertake resource validation and exploration at the Cozamin Mine, extend its mine life, demonstrate its long-term free cash flow generation potential and develop an updated mine plan; the anticipated timing and completion of the acquisition of the El Barqueño Project, including the receipt of required regulatory approvals and satisfaction of customary closing conditions; and the Company’s plans to advance permitting, exploration drilling and development studies at the El Barqueño Project.  

In certain cases, Forward-Looking Information can be identified using words and phrases such as “plans”, “expects”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “will”, “may” 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: Goldgroup and the Company satisfying their respective obligations in connection with the Financing Commitment; the satisfaction or waiver of the conditions to the Financing Commitment, the Brokered Offering and the Transaction, including the Escrow Release Conditions; the completion of the Financing Commitment, the Brokered Offering and the Transaction on the terms and within the timeframes contemplated; the receipt of all necessary corporate, regulatory, stock exchange and other approvals, including the approval of the TSXV; the number and issue price of the Subscription Receipts to be acquired by Goldgroup and the number of Luca Shares issuable upon conversion thereof; Goldgroup’s resulting ownership interest in the Company; the application of applicable securities laws and stock exchange policies, including shareholder approval requirements; Goldgroup satisfying the applicable ownership threshold for the continuation and exercise of its investor rights; the accuracy of the consensus estimates and historical technical information relating to the Cozamin Mine; the successful completion of the Transaction and the Company’s ability to achieve the anticipated benefits thereof; the Company’s ability to complete resource validation and exploration activities and develop an updated mine plan for the Cozamin Mine; the satisfaction or waiver of the conditions to the acquisition of the El Barqueño Project; the receipt of required approvals for that acquisition; and the Company’s ability to obtain required permits and advance exploration and development activities at the El Barqueño Project.  

Although the Company believes that the expectations and assumptions reflected in such Forward-Looking Information are reasonable, there can be no assurance that they will prove to be correct. Forward-Looking Information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such Forward-Looking Information, including, but not limited to: the failure of Goldgroup or the Company to satisfy their respective obligations in connection with the Financing Commitment; the failure to satisfy or waive the conditions to the Financing Commitment, the Brokered Offering or the Transaction, including the Escrow Release Conditions; the failure to obtain required corporate, regulatory, stock exchange, shareholder or other approvals, including the approval of the TSXV; changes to the structure, timing, terms or amount of the Financing Commitment, the Brokered Offering or the Transaction; the number or price of the securities ultimately issued to Goldgroup; Goldgroup’s resulting ownership interest exceeding applicable thresholds or triggering shareholder approval or other requirements; the Escrowed Proceeds not being released or the net proceeds of the Brokered Offering not being available or sufficient to be applied as contemplated; the Transaction not being completed on the terms or within the timeframe contemplated, or at all; the anticipated benefits of the Transaction not being realized; actual production, cash flow or other results differing from consensus estimates; the historical technical information relating to the Cozamin Mine proving inaccurate or not being verified; the Company being unable to complete its planned resource validation or exploration activities, extend the mine life, demonstrate long-term free cash flow generation potential or develop an updated mine plan for the Cozamin Mine; changes in commodity prices, financial markets and general economic conditions; the acquisition of the El Barqueño Project not being completed on the terms or within the timeframe contemplated, or at all; the failure to obtain required approvals or satisfy applicable closing conditions for that acquisition; the Company being unable to obtain required permits or advance exploration and development activities at the El Barqueño Project as contemplated; and the other risks described in the Company’s public disclosure documents filed under its issuer profile on SEDAR+. 

The Forward-Looking Information included in this news release is expressly qualified by the foregoing cautionary statements. Readers of this news release are cautioned not to place undue reliance on the Forward-Looking Information due to its inherent uncertainty. The Company disclaims any intent or obligation to update any Forward-Looking Information, whether as a result of new information, future events or results or otherwise, unless required under applicable laws. This Forward-Looking Information should not be relied upon as representing management’s views as of any date subsequent to the date of this news release. 

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

Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is pleased to announce that it has entered into a definitive asset purchase agreement (the “Agreement”) dated September 17, 2026 with Agnico Eagle Mines Limited (“Agnico Eagle”), an arm’s length party to Luca, to acquire 100% of the El Barqueño property (the “Project”). All dollar amounts in this news release are in US dollars unless otherwise specified. 

The El Barqueño property covers over 32,000 hectares, is accessible by paved and secondary roads, and is located in the State of Jalisco, Mexico approximately 100km west of Guadalajara city and proximate to the municipality of Guachinango (see Figure 1 below). The Project is host to a historical (2025) mineral resource estimate of 399,265 ounces of gold equivalent at 1.47 g/t AuEq classified as indicated with an additional 650,046 ounces of gold equivalent at 1.43 g/t AuEq inferred (see Figure 2 below). This resource estimate is being treated by Luca as a historical estimate under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and a Qualified Person (as defined in NI 43-101) has not done sufficient work to classify the historical estimate as a current mineral resource. The historical estimate should not be relied upon and is being shared strictly for informational purposes.  

Dan Barnholden, Luca’s CEO and Director, commented, “The acquisition of El Barqueño will be a highly strategic and accretive transaction for Luca. We are excited to add a high-quality, high-grade gold-silver-copper development project to our portfolio of mining assets in Mexico. This acquisition aligns with our growth strategy to use our specific in-country skills and experience to de-risk mining projects, adding value and realizing benefits for all stakeholders. Luca is uniquely positioned to create value at El Barqueño and we will use our expertise to advance permitting efforts at the Project, which we believe is amenable to both open-pit and underground mining methods.” 

“Furthermore, our exploration team is excited to evaluate the growth potential at El Barqueño with a large-scale, regional exploration focus. We look forward to building on Agnico Eagle’s strong track record of community involvement, social governance and environmental stewardship at the Project, and we are pleased to add Agnico Eagle as a significant Luca shareholder.” 

Paul Gray, Luca’s Vice President of Exploration, added, “El Barqueño is a property with excellent infrastructure, a first-class geologic and exploration database, and numerous high-priority targets that require follow up exploration. Upon receipt of exploration permits, Luca’s exploration team is excited to build upon these substantial historic exploration efforts. We are confident that the El Barqueño property will yield many additional exploration discoveries over the coming years.” 

Transaction Summary and Timing 

On closing, Luca will acquire 100% of the El Barqueño property (the “Transaction”) from a Mexican subsidiary of Agnico Eagle. Consideration to be paid to Agnico Eagle in connection with the Transaction includes: 

• An initial payment of $10 million on closing of the Transaction to be satisfied through the issuance of common shares of Luca (the “Luca Shares”). 

• Deferred consideration of up to $30 million through milestone-linked payments (the “Contingent Payments”). At the sole election of Luca, the Contingent Payments may be paid in cash or, subject to certain exceptions, through the issuance of Luca Shares at each milestone achievement date, or a combination of both. The Contingent Payments are payable as follows: 

• $15 million payable three (3) months following the commencement of the first drilling program at the Project; and 

• $15 million upon the achievement of commercial production at the Project. 

• Additional consideration of up to $20 million in production milestone-linked payments, comprised of: $5 million for every 100,000 gold equivalent ounces produced at the Project up to a maximum of 400,000 gold equivalent ounces. 

• A 2.0% net smelter return (“NSR”) interest granted to Agnico Eagle on all metal production solely in respect of certain areas of the El Barqueño property which host currently defined mineral resources. Luca will have the right to repurchase one-half of the NSR (reducing the NSR to 1%) at any time for $12.5 million. 

Closing of the Transaction is expected to occur in the fourth quarter of 2026, and is subject to the receipt of all required regulatory approvals, including approval from the Mexican Federal Economic Competition Commission and the TSX Venture Exchange (“TSXV”), and other customary closing conditions for a transaction of this nature. 

El Barqueño Project Background 

Agnico Eagle acquired the El Barqueño property through acquisitions of Cayden Resources and Soltoro Ltd. in 2014 and 2015, respectively. Agnico Eagle subsequently conducted approximately 225,000 metres of exploration drilling, primarily between 2015-2018. The overall historic exploration effort at El Barqueño totals approximately 300,000 metres of drilling. Mineralized deposits have been defined at the following areas (see Figures 2 and 3 below): Azteca-Zapoteca-Cuauhtémoc, Angostura, Peña de Oro, and Socorro (Northern deposits) and El Rayo, Soledad, Bolas and Highway (Southern deposits). The Northern deposits at the El Barqueño property are subject to existing NSR royalties averaging 3.7%. The Southern deposits are not subject to any pre-existing NSR royalties. 

Local geology at the El Barqueño property includes a shallow dipping sequence of Cretaceous to Paleocene volcanic rocks as well as monzodiorite and diorite intrusives. The main mineralization style at the El Barqueño deposits is vein-breccia mineralization demonstrating sub-planar brecciated structures containing abundant fragments of quartz veins. Multi-stage crustiform quartz vein structures, stockwork breccias and fault-vein mineralization are also observed. Sulphide assemblages include pyrite, chalcopyrite, galena, sphalerite and chalcocite. 

The El Barqueño property is not currently permitted for exploration drilling due to the existence of the Jalisco Regional Ecological Territorial Planning Program (“POETR”) which covers portions of the Project (the “Concessions”). A direct amparo proceeding has been instituted before the Fourth District Court for Administrative Matters in the State of Jalisco regarding the application of the POETR on the relevant Concessions, which were granted prior to the creation of the POETR (the “Amparo”). An Amparo proceeding is a well-established legal process in Mexico through which acts or omissions of government authorities may be challenged on constitutional grounds. Luca is working with Agnico Eagle regarding the ongoing Amparo and intends to continue pursuing a legal pathway to address the application of the POETR to the project. Luca looks forward to a successful resolution to the POETR and the re-confirmation of the exploration and development pathway for El Barqueño, which will allow the Project to deliver substantial economic and social benefits to the State of Jalisco and local host communities. 

Figure 1 – El Barqueño Location Map 

Note: Resource estimates for other companies are based on publicly available disclosures and S&P Capital IQ data and have not been independently verified by the Company. Reported estimates may reflect different reporting standards, assumptions and effective dates. 

Historic Mineral Resource Estimate 

The Project’s north and south mineral resource estimates disclosed in Figure 2 below are historical in nature and are being treated by Luca as historical estimates NI 43-101. A Qualified Person (as defined in NI 43-101) has not done sufficient work to classify the historical estimate as current mineral resources. Luca is not treating the historical estimate as current mineral resources, and the historical estimate should not be relied upon. It is being shared strictly for informational purposes. Luca believes that the historical estimate is relevant to an appraisal of the merits of the Project and forms a basis upon which to develop future exploration programs. While the historical estimate has not been independently verified by the Company, the public disclosure of the data in accordance with NI 43-101 indicates that the historical estimate was prepared to a reasonably high standard. Following the closing of the Transaction, Luca plans to prepare a current mineral resource estimate for El Barqueño, develop exploration targets and analyze the economics of various scales of production.  

In order to verify the historical estimate to a current mineral resource estimate, the Company will need to retain a Qualified Person to verify historical drilling and assaying methods and validate historical results, revise for current metal prices, and add any drilling and assaying or other pertinent geological information generated since the last estimation. There can be no assurance that any of the historical estimates, in whole or in part, will ever become economically viable.  

Figure 2 – El Barqueño Project Mineral Resource Estimate by Mineralized Zone 

(1) Converted to AuEq based on metal prices of $3,800/oz Au, $40.00/oz Ag and $4.80/lb Cu. (2) The historical resource estimate has an effective date of December 31, 2025, was prepared by Agnico Eagle, and was disclosed in Agnico Eagle’s February 12, 2026 news release, available at www.agnicoeagle.com under News Releases dated February 12, 2026. 

Figure 3 – El Barqueño Project Map Showing Current Resource Areas 

Advisors and Counsel 

ATB Cormark Capital Markets is acting as financial advisor to Luca, and Cassels Brock & Blackwell LLP is acting as legal advisor to Luca. 

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, generating 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. 

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 NI 43-101. 

On Behalf of the Board of Directors 

(signed) “Dan Barnholden” 

Dan Barnholden, Chief Executive Officer 

Contact Information: 

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: the closing of the Transaction and the anticipated timing thereof; the anticipated benefits of the Transaction, including anticipated synergies and the impact of the Transaction on the Company’s operations, financial condition, and overall strategy; the Company’s plans for and the potential success of future exploration and development activities, including expectations with respect to permitting, development and other work that may be required; the proposed timing of the Amparo proceeding and likelihood of success; future exploration activities and the anticipated results thereof, including the timing and results of future resource and/or reserve estimates; resource potential, including the potential quantity and/or grade of minerals, or the potential size of a mineralized zone; plans with respect to existing and new infrastructure; receipt of all necessary approvals with respect to the Transaction, including but not limited to the approval of the Mexican Federal Economic Competition Commission and the TSXV; satisfaction of the various conditions to closing of the Transaction and payment of the future contingent consideration; other statements relating to the financial and business prospects of the Company; information as to the Company’s strategy, plans or future financial or operating performance; and other events or conditions that may occur in the future.  

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: the satisfaction of all conditions to closing the Transaction; the successful completion of the Transaction and the Company’s ability to achieve the anticipated benefits therefrom; the accuracy of historical and forward-looking operational information and estimates; the Company’s ability to successfully integrate the El Barqueño project into the Company’s existing operations; the ability of the Company to successfully obtain all exploration permits; the ability of the Company to complete the necessary work required with respect to the El Barqueño and the anticipated benefits therefrom; the continuing accuracy of statements regarding El Barqueño, including the results of technical studies and the anticipated capital and operations costs, concession or claim renewal, permitting, mineral resource and/or reserve estimates, the cost of development, and other expected attributes of the properties, the timing of any environmental assessment processes, changes to configuration that may be requested as a result of stakeholder or government input to the environmental assessment processes, government regulations and permitting timelines; the future price of gold and other metals; currency exchange rates and interest rates; favourable operating conditions; political stability; timely receipt of governmental approvals, licenses, and permits (and renewals thereof); access to necessary financing; stability of labour markets and in market conditions in general; availability of equipment; the accuracy of mineral resource estimates, and of any metallurgical testing completed to date; the costs and expenditures to complete the Company’s programs and goals; the speculative nature of mineral exploration and development and mining operations in general; there being no significant disruptions affecting the development and operation of the Company’s properties; the availability of certain consumables and services and the prices for power and other key supplies being approximately consistent with assumptions; labour and materials costs being approximately consistent with assumptions; assumptions made in mineral resource estimates, including, but not limited to, geological interpretation, grades, metal price assumptions, metallurgical and mining recovery rates, geotechnical and hydrogeological assumptions, capital and operating cost estimates, and general marketing factors; requirements for additional capital; environmental risks; general business and economic conditions; delays in obtaining, or the inability to obtain, third-party contracts, equipment, supplies and governmental or other approvals; changes in law, including the enactment of mining law reforms; accidents; labour disputes; unavailability of appropriate land use permits; changes to land usage agreements and other risks of the mining industry generally; the inability to obtain financing required for the completion of exploration and development activities; changes in business and economic conditions; international conflicts; other factors beyond the Company’s control; and those factors included herein and elsewhere in the Company’s public disclosure. 

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate as actual developments or events could cause results to differ materially from those anticipated. These include, among others, the factors described or referred to elsewhere herein and include unanticipated and/or unusual events. Many of such factors are beyond the Company’s ability to predict or control. 

The Forward-Looking Information included in this news release is expressly qualified by the foregoing cautionary statements. Readers of this news release are cautioned not to put undue reliance on the Forward-Looking Information due to its inherent uncertainty. The Company disclaims any intent or obligation to update any Forward-Looking Information, whether as a result of new information, future events or results or otherwise, unless required under applicable laws. This Forward-Looking Information should not be relied upon as representing management’s views as of any date subsequent to the date of this news release. 

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 news release. 

Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) reports new assay results from its ongoing 2026 exploration drill program at the Tahuehueto gold-silver mine in Durango, Mexico.

The latest results continue to demonstrate the potential for significant near-mine resource expansion at Tahuehueto, with high-grade mineralization intersected across the Creston, Perdido veins and specifically at the Catorce Zone, an under-drilled area interpreted to represent a southern extension of the Creston Vein system. At Catorce, drilling has resumed for the first time since 2008, with the first surface hole returning 9.9 metres of 5.39 g/t AuEq, including 1.0 metre of 27.56 g/t AuEq, highlighting the potential of this underexplored vein system.

Highlights

• High-grade results from the first surface drillhole at the Catorce Zone since 2008:
  • 9.9 metres (“m”) of 5.39 g/t AuEq** (3.63 g/t Au, 70.14 g/t Ag, 0.02% Cu, 1.69% Pb, 5.63% Zn) in hole DDH26-RCE-01 including 1.0 m of 27.56 g/t AuEq (21.10 g/t Au, 58.50 g/t Ag, 0.09% Cu, 3.93% Pb, 38.25% Zn)
    • The Catorce Zone is located approximately 250 m from existing underground development and is interpreted to be a southern extension of the Creston Vein within an area of structural complexity (Figure 1). This area was targeted by Luca with 7 holes totalling ~1,500 m of diamond drilling in this new exploration campaign.
• Continued high-grade intercepts from the Creston Vein, including:
  • 6.2 m of 6.37 g/t AuEq (3.68 g/t Au, 153.91 g/t Ag, 0.91% Cu, 1.17% Pb and 1.15% Zn) in hole DDH26-248 including 1.1 m of 20.60 g/t AuEq (12.00 g/t Au, 563.00 g/t Ag, 2.51% Cu, 3.51% Pb, 0.86% Zn) within a broader interval of 2.9 m of 11.83 g/t AuEq (7.29 g/t Au, 281.12 g/t Ag, 1.46% Cu, 1.70% Pb, 1.06% Zn)
  • 3.4 m of 4.77 g/t AuEq (2.00 g/t Au, 190.24 g/t Ag, 0.16% Cu, 1.76% Pb and 2.77% Zn) in hole DDH26-249 including 0.8 m of 11.67 g/t AuEq (4.65 g/t Au, 608.00 g/t Ag, 0.30% Cu, 1.78% Pb and 0.51% Zn)
  • 1.3 m of 13.53 g/t AuEq (2.80 g/t Au, 538.23 g/t Ag, 6.17% Cu, 0.13% Pb and 0.04% Zn) and a secondary intersection of 1.3 m of 4.50 g/t AuEq(0.76 g/t Au, 247.86 g/t Ag, 1.32% Cu, 0.18% Pb and 0.06% Zn) in hole DDH26-250

• Drilling has confirmed the continuity of high-grade mineralization in previously untested areas located 20 to 35 m below Level 20, with all 14 drillholes completed in this newly identified area intersecting the Creston Vein, further validating Luca’s geological model and demonstrating the potential to expand mineralization at depth
• The new intercepts exceed current mined grades and widths and occur within development distance of existing underground infrastructure, supporting potential integration into the near-term mine plan
• Confirmed mineralization at the Perdido Vein in close proximity to current mining faces through the ongoing Termite drill program:
  • 0.9 m of 7.60 g/t AuEq (7.03 g/t Au, 32.70 g/t Ag, 0.08% Cu, 0.48% Pb and 0.64% Zn)in hole TRT26-07

• Two contracted diamond drill rigs are currently on site and a third surface rig is currently en route to site.  A Luca owned and operated underground rig continues to define mineralization identified in the near-term mine plan.

“The latest results continue to reinforce our view that Tahuehueto has significant expansion potential beyond the current resource areas,” stated Paul D. Gray, VP Exploration. “At Creston, all 14 drillholes targeting the breccia zone below Level 20 have intersected the vein, demonstrating excellent continuity and providing further confidence in the potential to expand the structure at depth.

“Equally exciting is the first surface drilling from the Catorce Zone since 2008, where the first hole returned 9.9 metres of 5.39 g/t AuEq, including 1.0 metre of 27.56 g/t AuEq. This strong result from a previously underexplored area supports our view of the unrealized exploration potential across the property, which we continue to uncover with additional Catorce assays pending and ongoing drilling across multiple target areas.”

Drill Results Summary

Drillholes DDH26-SU-17 through DDH26-SU-20 targeted a previously untested zone approximately 30-40 metres below active mine workings on Level 23 and along strike from Luca’s successful Phase 1 2024-2025 underground drill program and more recent drilling efforts (See Company News Releases Dated February 20, 2025, March 5, May 5, and July 7, 2026) and expanded upon these previously identified high-grade breccia zones.

Drillhole DDH26-247 through DDH26-255 were collared underground on Level 20 of the Tahuehueto gold-silver mine and targeted the Creston Vein in previously undrilled areas approximately 30 m below current workings.  These holes were designed to expand upon and infill to a minimum 25 m spacing this newly defined mineralized breccia shoot first identified by Luca in 2026 (See Company News Release dated July 7, 2026). All these drillholes intersected the Creston Vein.

Drillhole DDH26-RCE-01 targeted mineralization previously identified within the Catorce Zone, a known, but under-drilled Tahuehueto mineralized zone that is interpreted to be a southern extension of the Creston Vein System and has not seen any exploration efforts since 2008.

To date, Luca has completed 62 underground holes for 11,182 m and 33 surface holes for 6,224 m using “HQ”, “NQ” and/or “BQ” sized diamond drill core (Creston, Perdido, El Rey, Catorce and Santiago targets).

Key Intercepts

Catorce:

DDH26-RCE-01

• 9.9 metres (“m”) of 5.39 g/t AuEq** (3.63 g/t Au, 70.14 g/t Ag, 0.02% Cu, 1.69% Pb, 5.63% Zn) from 199.5 m including 1.0 m of 27.56 g/t AuEq (21.10 g/t Au, 58.50 g/t Ag, 0.09% Cu, 3.93% Pb, 38.25% Zn) from 205.4 m

Creston:

DDH26-248

• 6.2 m of 6.37 g/t AuEq (3.68 g/t Au, 153.91 g/t Ag, 0.91% Cu, 1.17% Pb and 1.15% Zn) from 145.1 including 1.1 m of 20.60 g/t AuEq (12.00 g/t Au, 563.00 g/t Ag, 2.51% Cu, 3.51% Pb, 0.86% Zn) within a broader interval of 2.9 m of 11.83 g/t AuEq (7.29 g/t Au, 281.12 g/t Ag, 1.46% Cu, 1.70% Pb, 1.06% Zn)

DDH26-249

• 3.4 m of 4.77 g/t AuEq (2.00 g/t Au, 190.24 g/t Ag, 0.16% Cu, 1.76% Pb and 2.77% Zn) from 134.2 m including 0.8 m of 11.67 g/t AuEq (4.65 g/t Au, 608.00 g/t Ag, 0.30% Cu, 1.78% Pb and 0.51% Zn) from 135.9 m

DDH26-250

• 1.3 m of 13.53 g/t AuEq (2.80 g/t Au, 583.23 g/t Ag, 6.17% Cu, 0.13% Pb and 0.04% Zn) from 147.6 m and a secondary intersection of 1.3 m of 4.50 g/t AuEq(0.76 g/t Au, 247.86 g/t Ag, 1.32% Cu, 0.18% Pb and 0.06% Zn) from 134.4 m

DDH26-SU-17

• 0.8 m of 13.85 g/t AuEq (12.30 g/t Au, 42.20 g/t Ag, 0.16% Cu, 0.37% Pb and 6.77% Zn) from 122.0 m and a secondary intersection of 0.8 m of 2.05 g/t AuEq(0.53 g/t Au, 47.30 g/t Ag, 0.28% Cu, 2.36% Pb and 3.57% Zn) from 132.8 m

Production Verification Drillholes

As part of the Tahuehueto exploration program a Luca owned and operated Termite drill rig capable of drilling “BQ” sized drill core up to 100 m in length has been added to bolster near underground workings verification and mineral definition.  Drill core from this drill rig is handled by the Tahuehueto exploration department and treated the same as exploration drill core (processing, logging and sampling) and is now being utilized to more accurately define the mineralized zones anticipated to be part of the near-term mine plan objectives.  Drillholes TRT26-07 and TRT26-08  were drilled from Level 12 of the Tahuehueto mine and targeted the Perdido vein in areas that are scheduled to be mined during H2 2026 – H1 2027.

TRT26-07

• 0.9 m of 7.60 g/t AuEq (7.03 g/t Au, 32.70 g/t Ag, 0.08% Cu, 0.48% Pb and 0.64% Zn)in hole TRT26-07 from 42.2 m

True widths are estimated to be approximately 85-90% of drilled intervals.

Figures 1-11 present the location of the drillholes with assay results and Tables 1 and 2 provide summary analytical results and drill collar details, respectively.

Figure 1

Figure 2

Figure 3

Figure 4

Figure 5

Figure 6

Figure 7

Figure 8

Figure 9

Figure 10

Figure 11

About 2026 Tahuehueto Exploration Program

The Tahuehueto property comprises a large epithermal gold-silver vein system with approximately 11 kilometres of known vein strike length and numerous mineralized structures. Mineralization remains open along strike and at depth across most modeled Mineral Resource areas. The current campaigns represent the first substantive exploration drilling conducted on the property in more than 12 years, and the first since the addition of key concessions to the land package (See Company News Release dated August 28, 2025).

Luca’s 2026 exploration program builds on the success of the 2025 campaign. The program is designed to expand known mineral resources, adding near-term mineable material and defining the vertical and lateral extent of mineralization, as well as to identify additional thick, high-grade breccia zones known to occur within the epithermal vein system, and test multiple underexplored vein systems.

In addition to the four veins that currently support the mineral resource, at least 14 additional prospective veins have been documented within the concession area with potential to host epithermal Au-Ag (±Cu-Zn-Pb) mineralization. In several cases, these targets may represent extensions of the existing mineralized structures.

Overall, the Company has identified more than 11 km of prospective vein structures along strike, compared to approximately 4.5 km of mineralized veins incorporated into the current mineral resource model, highlighting significant exploration upside across the property.

Assay Tables and Collar Locations

Table 1: Highlighted Diamond Drill Assay Results from DDH26-247 through DDH26-255, DDH26-SU-17 through DDH26-SU-20, TRT26-07 through TRT26-08 and DDH26-RCE-01

*True widths are estimated to be approximately 85-90% of drilled intervals.

**AuEq equation is: AuEq = Au + (Ag*0.0107) + (Cu%*0.8073) + (Pb%*0.1323) + (Zn%*0.1370), considering actual reported metallurgical recoveries of Au 84%, Ag 85%, Cu 78.3%, Pb 71.6% and Zn 48%, at $3,800 US$/oz Au, 40 US$/oz Ag, 10,582 US$/Tonne Cu, 1,896 US$/Tonne Pb and 2,930 US$/Tonne Zn.

Table 2: Drill Collar Locations and Details for Released Results

About Luca Mining Corp.

Luca Mining (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining company with two 100%-owned producing mines within the prolific Sierra Madre mineralized belt in Mexico which hosts numerous producing and historical mines along its trend. The Company produces gold, copper, zinc, silver and lead from these mines that each have considerable development and resource upside.

The Campo Morado polymetallic VMS mine is an underground operation located in Guerrero State within a 121 square kilometer land package.  It produces copper-zinc-lead concentrates with precious metals credits. It is currently undergoing an optimization program which is already generating significant improvements in recoveries, grades, efficiencies, and cashflows.

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.

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 Tahuehueto Mine. Once split, half samples 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 Tahuehueto Mine site and transported to Bureau Veritas’ Durango Laboratory, where samples are prepared to a 250-gram pulp and analyzed for Gold by Fire assay with pulps shipped to Bureau Veritas’s Analytical laboratory in Vancouver, B.C., for final ICP chemical analysis.  A robust system of standards, 1/4 core duplicates and blanks were implemented in the 2024-2026 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.

On Behalf of the Board of Directors

(signed) “Dan Barnholden”

Dan Barnholden, Chief Executive Officer

Contact Information:

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, conditions or performance that are based on assumptions about the proposed exploration programs and its anticipated results; the timing and costs of future activities on the Company’s properties; success of exploration and development; anticipated time and results of forthcoming reports on the Tahuehueto mine; capital requirements; future production expectations and results thereof. 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 Tahuehueto 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.