Mr. Dan Barnholden reports

LUCA DRILLS 28.6 METRES OF 5.35 G/T AUEQ AT THE EL REY DEPOSIT AT CAMPO MORADO

Luca Mining Corp. has released new drill results from its continuing phase 2 exploration program at the Campo Morado polymetallic VMS (violcanogenic massive sulphide) mine in Guerrero state, Mexico, including the first drilling at the El Rey deposit in over 14 years.

Initial results indicate thick, gold- and silver-rich VMS mineralization at El Rey, an unmined deposit located approximately 200 metres from the Reforma deposit and close to existing underground infrastructure, supporting its potential inclusion in the longer-term Campo Morado mine plan.

Highlights:

• First drilling at the El Rey VMS deposit in over 14 years confirms thick, high-grade gold- and silver-rich mineralization;
• 28.6 metres of 5.35 grams per tonne gold equivalent, including 2.8 m of 12.55 g/t AuEq (CMRY-25-02);
• 21.0 m of 6.13 g/t AuEq, including 2.2 m of 25.38 g/t AuEq (CMRY-25-06);
• El Rey is an unmined VMS deposit approximately 200 metres from the Reforma deposit, close to existing underground infrastructure;
• Mineralization extends beyond historical models, particularly to depth and along the western margin;
• Results support mine life extension and improved production flexibility at Campo Morado.

El Rey deposit -- surface drilling results

Surface drill holes CMRY-25-01 through CMRY-25-07 were collared within and around the El Rey and Reforma deposits and intersected notable intervals of massive sulphide mineralization (see Table 1).

Drilling targeted the central and eastern portions of the El Rey deposit to confirm grade continuity, improve geological definition and test expansion potential beyond historical interpretations. Drill hole CMRY-25-05 extended mineralization by more than 30 metres beyond the previously modelled deposit boundary, highlighting the potential to increase mineral resources through continued drilling.

Exploration program update

Two surface drill rigs are currently operating at Campo Morado in parallel with continuing underground diamond drilling. Together, these programs are targeting previously undrilled, high-priority VMS targets across the camp as well as continued drilling at the Reforma and El Rey deposits.

To date, approximately 8,200 m of surface drilling and 8,700 m of underground drilling have been completed. Underground drilling continues to target the Largo, Largo Norte, Naranjo and Fish deposits, all of which form part of the 2026-2028 mine plans.

Exploration activities are focused on near-mine and resource expansion targets, with the objective of extending mine life and improving production flexibility.

Paul D. Gray, Luca's vice-president of exploration, commented: "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.

"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. Drilling has also commenced at the Zapata target, where previously undrilled coincident gravity and geochemical anomalies have been identified. Zapata is one of 38 prospective targets defined within the Campo Morado concessions, and Luca looks forward to advancing these targets in the first half of 2026, with strong confidence in the potential for new VMS-style mineralized zones."

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 multiacid digestion ICP-ES 35-element MA300 analytical package with FA-430 30-gram fire assay with AAS finish for gold on all samples. Gold overlimits from FA-430 are reanalyzed by FA530 30-gram fire assay with gravimetric finish. Silver overlimits from ICP MA300 analytical package are reanalyzed by FA530 30-gram fire assay with gravimetric finish. Similarly, copper, lead and zinc overlimits from ICP MA300 analytical package are reanalyzed by ICP multiacid digestion MA370 package. All core samples were split by core saw on site at Luca's core processing facilities at the Campo Morado mine. Once split, half 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 Campo Morado mine site and transported to its laboratory in Durango, where they were prepared into 250-gram pulps for gold fire assay. The pulps were then shipped to Bureau Veritas's analytical laboratory in Vancouver, B.C., for final ICP analysis. A robust system of standards, one-quarter-core duplicates and blanks was implemented in the 2025 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 Paul D. Gray, PGeo, vice-president, exploration, at Luca Mining. Mr. Gray is a qualified person for the company as defined by National Instrument 43-101.

About Luca Mining Corp.

Luca Mining 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 and generate strong cash flow. Both mines have considerable development and resource upside as well as world-class 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.

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