Luca drills 28.6 m of 5.35 g/t AuEq at Campo Morado

Executive Summary

• Luca Mining Corp. released initial drill results from its Phase 2 exploration program at the Campo Morado mine in Mexico, marking the first drilling at the El Rey deposit in over 14 years.
• The results confirm thick, high-grade gold- and silver-rich volcanogenic massive sulphide (VMS) mineralization at El Rey, which is located approximately 200 metres from the existing Reforma deposit and close to underground infrastructure.
• The mineralization extends beyond historical geological models, particularly to depth and along the western margin, supporting potential mine life extension and improved production flexibility for the Campo Morado operation.

Key Details

• Drill Results at El Rey Deposit:
  • Hole CMRY-25-02: 28.6 metres of 5.35 g/t AuEq, including 2.8 metres of 12.55 g/t AuEq.
  • Hole CMRY-25-06: 21.0 metres of 6.13 g/t AuEq, including 2.2 metres of 25.38 g/t AuEq.
• Geological Significance:
  • El Rey is an unmined VMS deposit sharing key geological characteristics with the nearby Reforma deposit.
  • Drill hole CMRY-25-05 extended mineralization by more than 30 metres beyond the previously modelled deposit boundary.
  • Mineralization extends beyond historical interpretations, particularly along the western margin and at depth.
  • Current interpretations suggest El Rey is a faulted-off portion of the Reforma deposit, opening exploration potential laterally and at depth.
• Exploration Program Status:
  • Two surface drill rigs and continuing underground diamond drilling are active at Campo Morado.
  • Approximately 8,200 metres of surface drilling and 8,700 metres of underground drilling have been completed to date.
  • Underground drilling targets the Largo, Largo Norte, Naranjo, and Fish deposits, which are part of the 2026-2028 mine plans.
  • Drilling has commenced at the Zapata target, one of 38 prospective targets defined within the Campo Morado concessions, with plans to advance these targets in the first half of 2026.
• Analytical Methods:
  • Samples analyzed by Bureau Veritas (Durango, Mexico) using multiacid digestion ICP-ES 35-element MA300 package.
  • Gold analyzed via FA-430 30-gram fire assay with AAS finish; overlimits reanalyzed by FA530 gravimetric finish.
  • Silver, copper, lead, and zinc overlimits reanalyzed via ICP multiacid digestion MA370 package.
  • QA/QC measures include standards, one-quarter-core duplicates, and blanks.

Notable Quotes

• "The first drilling at El Rey in over 14 years has confirmed the presence of thick, gold- and silver-rich VMS mineralization and has meaningfully extended the deposit beyond previous interpretations, particularly along its western margin and at depth. El Rey shares key geological characteristics with the nearby Reforma deposit and represents an additional unmined source of mineralization with clear potential to support mine life extension and improve production flexibility at Campo Morado." — Paul D. Gray, Vice-President of Exploration
• "Current interpretations suggest El Rey is a faulted-off portion of the Reforma deposit, opening up exploration potential both laterally and at depth for discovery of additional VMS mineralization." — Paul D. Gray, Vice-President of Exploration