Luca Intersects 19 Metres of 6.3 g/t Gold Equivalent from the Creston Vein at Tahuehueto Mine

Luca Mining Corp. (LUCA) has released assay results from 16 drill holes across three targets at its Tahuehueto epithermal gold-silver mine in Durango. The program included production verification at the Creston target using the Termite rig, the first exploration holes at Catorce since 2008, and infill and step-out drilling at Santiago.

Key intervals reported include:

• TRT26-15 (Creston, Level 25): 18.7 m @ 6.28 g/t AuEq (2.65 g/t Au, 75.08 g/t Ag, 0.86% Cu, 4.61% Pb, 11.16% Zn) from 30.4 m, including 7.8 m @ 7.14 g/t AuEq from 30.4 m and 7.1 m @ 8.55 g/t AuEq from 42.0 m
• TRT26-14: 1.9 m @ 5.02 g/t AuEq from 52.4 m
• TRT26-13: 3.0 m @ 1.52 g/t AuEq
• TRT26-12: 1.6 m @ 2.61 g/t AuEq
• TRT26-11: 2.7 m @ 1.27 g/t AuEq
• TRT26-09 and TRT26-10: no significant mineralization
• DDH26-RCE-05 (Catorce): 13.7 m @ 3.33 g/t AuEq (2.21 g/t Au, 88.80 g/t Ag) from 184.8 m
• DDH26-RCE-02 (Catorce): 23.0 m @ 2.10 g/t AuEq from 183.6 m, including 3.6 m @ 6.67 g/t AuEq
• DDH26-RCE-06 (Catorce): 3.5 m @ 4.19 g/t AuEq (250.59 g/t Ag) from 168.8 m, plus 3.8 m @ 2.51 g/t AuEq (9.46% Zn) from 184.0 m
• DDH26-RCE-03: 2.4 m @ 1.26 g/t AuEq
• DDH26-RCE-04 and DDH26-RCE-07: no significant mineralization
• DDH26-SGO-12 (Santiago): 11.6 m @ 5.21 g/t AuEq (4.72 g/t Au, 42.47 g/t Ag) from 122.1 m
• DDH26-SGO-11: 8.8 m @ 3.09 g/t AuEq from 170.9 m
• DDH26-SGO-10: 7.9 m @ 1.98 g/t AuEq from 161.9 m

To date, the program has comprised 67 underground holes totaling 11,450 meters and 38 surface holes totaling 7,236 meters. True widths are estimated at 85–90% of the drilled intervals. Qualified Person Paul D. Gray, P.Geo., oversees the technical data, which was analyzed by Bureau Veritas in Durango and Vancouver.

Luca Mining Corp. (LUCA) is a two-mine producer operating the Campo Morado and Tahuehueto assets, reporting H1 2026 revenue of $116.0M, net income of $23.1M, and $24.7M in cash. The company is currently navigating a $385M transformational acquisition of Cozamin and a $60M earn-in-style acquisition of El Barqueño from Agnico. For a producer, drill releases are significant primarily if they materially alter reserves, mine life, or net asset value. This latest release confirms approximately 15 mineable metres of ~7.8 g/t AuEq within a stope already scheduled for H1 2027 mining, alongside two early-stage extensions at Catorce, where two of six holes were barren, and Santiago, which remains in line with December 2025 results. While the data marginally de-risks 2027 grade and could improve head grade in the first half of 2027, it does not change the scale of the system.

The latest intersection compares to the anchor result from the Creston target, drill hole DDH26-SU-01 on 5 March 2026, which returned 7.6 m @ 16.08 g/t AuEq for 122 g·m. Today’s result of 117 g·m is marginally below the anchor in gram-metres but significantly lower in grade (6.28 vs 16.08 g/t) and wider in width (18.7 m vs 7.6 m). This represents a wider, lower-grade intersection against a narrower, higher-grade one, which is broadly neutral to slightly positive in dollar-per-tonne terms given the operational needs of a 1,000 tpd underground mine.

Luca’s shares trade at C$1.03, down approximately 50% from their January 2026 high of C$2.05 and within 27% of their July low of C$0.81. Previous drill campaigns, including the Tahuehueto program and the September 8 Catorce release, have not moved the equity. The market is currently focused on the closure of the Cozamin transaction and the avoidance of grade misses at Tahuehueto rather than verification holes in existing stopes.

The release serves as a confirmation of the near-term mine plan with an 18.7 m verification intercept featuring 58% by-product credits and a 3.8 m internal waste sliver. Against a C$283M basic and approximately C$500M pro forma equity driven by acquisition activity, the expected share-price reaction is flat to +3–5%, with the C$1.00 subscription-receipt price acting as a magnet just below.

Luca Mining Corp. (TSXV: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is a Canadian-domiciled producer focused on operations in Mexico, targeting gold, silver, copper, zinc, and lead. The company’s primary asset is the Campo Morado mine in Guerrero, a 121-square-kilometer underground polymetallic volcanogenic massive sulfide (VMS) operation. Currently processing approximately 2,000 tonnes per day, the mine produces copper-zinc-lead concentrates with precious-metal credits. Measured and indicated resources at Campo Morado total 16.6 million tonnes at 4.01% zinc, 0.80% copper, 0.93% lead, 123 grams per tonne silver, and 1.70 grams per tonne gold, supporting a projected mine life of more than 10 years. An expansion study led by Ausenco, which includes bulk sulphide flotation and a pyrite-concentrate leach and gold-dore phase, is targeting an NI 43-101 technical report in the second half of 2026.

In Durango, Luca operates the Tahuehueto mine, an underground epithermal gold-silver vein property covering more than 100 square kilometers. The mine entered commercial production in March 2025, operating at a capacity of 1,000 to 1,100 tonnes per day. A copper-lead separation circuit has been installed at the site, where approximately 11 kilometers of known vein strike have been identified compared to the 4.5 kilometers modeled in the resource estimate.

The company has also entered into definitive agreements to divest two other assets. Capstone Copper has agreed to acquire the Cozamin project in Zacatecas for an upfront payment of US$290 million, comprising US$275 million in cash and US$15 million in shares, plus US$35 million in deferred consideration and up to US$60 million contingent on copper prices. Cozamin features historical reserves of 6.7 million tonnes at 1.40% copper and 42.2 grams per tonne silver, and measured and indicated resources of 17.5 million tonnes at 1.29% copper, 44 grams per tonne silver, 1.22% zinc, and 0.45% lead. The historical plan for the 3,670-tonne-per-day operation extends to 2030.

Additionally, Agnico Eagle has entered an agreement for the El Barqueño property in Jalisco, which spans more than 32,000 hectares. The deal includes US$10 million in shares, up to US$30 million in deferred payments, up to US$20 million linked to production, and a 2.0% net smelter return (NSR) interest, half of which is repurchasable for US$12.5 million. A 2025 historical estimate indicated 399,000 ounces of gold equivalent at 1.47 grams per tonne and inferred 650,000 ounces of gold equivalent at 1.43 grams per tonne; these figures have not been verified by Luca’s qualified person. The property is currently unpermitted under the POETR process, and an amparo has been filed.

To support the Cozamin transaction, Luca Mining executed a financing package that included a C$155 million bought deal consisting of 155 million subscription receipts at C$1.00 each, and a C$56.4 million concurrent placement involving 35.2 million shares to Wheaton and 21.1 million shares to Taurus. The financing also included a US$125 million senior secured facility with Taurus and Macquarie, and a US$25 million incremental Wheaton silver stream. Goldgroup purchased 101.1 million receipts for approximately 19.9% of the company and secured two board seats. Looking ahead, Luca Mining’s 2026 exploration program is budgeted at US$25 million, targeting 80,000 meters of drilling over three years, with 20,000 meters planned for 2026.