Luca launches exploration program at Campo Morado

Executive Summary

• Luca Mining Corp. has launched a comprehensive three-year, US$25 million exploration program aimed at unlocking district-scale, high-grade gold potential at its wholly owned Campo Morado and Tahuehueto mining operations in Mexico.
• The program involves 80,000 metres of diamond drilling (surface and underground) to expand and define high-grade gold resources, leveraging AI-based assessment of over 30 years of historical exploration data valued at over US$100 million.
• The initiative is structured with a US$6.5 million budget for 20,000 metres of drilling in 2026, followed by US$18.5 million for 60,000 metres planned for 2027–2028, focusing on specific priority targets and extensions at both mines.

Key Details

• Program Budget and Scope: Total investment of US$25 million over three years; 80,000 metres of total diamond drilling planned across surface and underground operations.
• 2026 Budget: US$6.5 million allocated for 20,000 metres of drilling.
• 2027–2028 Budget: US$18.5 million allocated for 60,000 metres of drilling.
• Data Leverage: Utilization of over 650,000 metres of historical drilling, decades of soil sampling, mapping, and geophysical surveys.
• AI Partnership: Collaboration with Vrify to apply the proprietary DORA AI prospectivity mapping software to process data and generate high-priority targets.
• Campo Morado Targets:
  • 38 priority targets identified based on integrated geological, geochemical, and geophysical criteria.
  • Focus on undrilled gravity anomalies and extensions of Reforma and El Rey deposits.
  • Reforma Deeps: New target located immediately below historical drilling, associated with a significant untested gravity anomaly.
  • Recent Success (Aug 27, 2025): Reforma target returned 37.2 metres of 5.9 g/t Au, 368 g/t Ag, 0.53% Cu, 5.54% Zn, and 2.57% Pb.
• Tahuehueto Targets:
  • Surface and underground drilling to test extensions of Creston and Perdido structures.
  • Santiago deposit strike extension testing east onto newly acquired concessions and west toward the Perdido vein.
  • Recent Success (Sept 8, 2025): Santiago target returned 14.0 metres of 6.7 g/t Au and 6.0 metres of 9.0 g/t Au.
• Operational Status: Both projects are fully permitted with strong community agreements, existing site access, and infrastructure. Campo Morado is undergoing optimization; Tahuehueto is in commercial production.

Notable Quotes

• Paul D. Gray, Vice-President of Exploration: "This $25-million (U.S.), three-year exploration program will leverage Luca's extensive proprietary historical data sets available to unlock the district-scale gold potential at both projects... Luca is uniquely positioned in this regard with large and valuable historical geological data sets and highly prospective, underexplored 100-per-cent-owned land packages hosting producing operations which together represent an ideal framework for AI analysis and target generation."
• Dan Barnholden, Chief Executive Officer: "We are committed to value creation through exploration at our mines. With operating mills at both Campo Morado and Tahuehueto, we believe the potential is high for the discovery of new mineralization that can feed these mills and add to our near-term production profiles at both operations."