Luca enters deal to acquire concession near Tahuehueto

Executive Summary

• Luca Mining Corp. completed the purchase of a 100 % interest in the Humaya 3 mining concession adjacent to its Tahuehueto mine for US$400,000.
• The concession adds 2,507 ha (≈25 % increase) to Luca’s land package around Tahuehueto, bringing total tenure to ~10,000 ha.
• No net smelter return royalties are attached; the acquisition is intended to support near‑term exploration of known veins that extend onto the new ground.

Key Details

• Seller: Minera Mexicana La Cienega S.A. de C.V., a subsidiary of Fresnillo PLC.
• Purchase Price: US$400,000 cash paid to Fresnillo.
• Interest Acquired: 100 % ownership of the Humaya 3 mining concession (2,507 ha).
• Location: Directly surrounds Luca’s Tahuehueto mine in Durango, Mexico.
• Royalty Structure: No underlying NSR royalties attached to the acquired interest.
• Land Position Impact: Increases Luca’s Tahuehueto land package by >25 % to approximately 10,000 ha.
• Strategic Rationale: Enhances exploration potential; known veins (e.g., Santiago vein) extend onto the new concession and are high‑priority drill targets.
• Comments: CEO Dan Barnholden highlighted alignment with growth strategy and shareholder value creation; VP of Exploration Paul D. Gray emphasized expanded exploration upside.

Notable Quotes

“Acquiring this strategic mining concession, which directly surrounds our Tahuehueto mine, aligns with our growth strategy as we add value to our assets.” – Dan Barnholden, CEO, Luca Mining Corp.

“The Humaya 3 mining concession surrounds the Tahuehueto mine and with this acquisition we have significantly increased both the size and exploration potential of our mineral tenure at Tahuehueto.” – Paul D. Gray, VP of Exploration, Luca Mining Corp.