Mr. Dan Barnholden reports

LUCA STRENGTHENS TECHNICAL LEADERSHIP WITH APPOINTMENT OF COO AND BUILDS TEAM TO EXECUTE ON MINE OPTIMIZATIONS

Luca Mining Corp. has appointed Nick Shakesby as chief operating officer, effective April 1, 2026. Luca has also strengthened its technical team to advance and execute on optimization and growth initiatives, including the Campo Morado expansion (CME).

The CME is a mill optimization and expansion study and mine plan update for the Campo Morado mine, targeting improved recovery rates of all metals, most notably an expected significant increase in gold and silver recoveries at the operation (see the company's news release dated Feb. 18, 2026). The CME, life-of-mine plan and mineral reserve estimate will be delivered in a technical report to be prepared in accordance with National Instrument 43-101, expected to be released in the second half of 2026.

Luca's new technical team has been assembled to provide deep management experience and expertise in overseeing and executing on the asset optimization and transformational growth opportunities ahead for the company.

Mr. Shakesby is a senior mining executive with more than 30 years of operational and project leadership experience across underground mining operations globally, with a strong focus on Mexico and Latin America.

Mr. Shakesby joins Luca from Cominvi S.A., Mexico's largest underground mining contractor, where he has served as chief executive officer since 2023. Previously, Mr. Shakesby served as vice-president, operations, and country manager, Mexico, at Endeavour Silver Corp., where he was responsible for four operating underground mines. He resides in Mexico, and is fluent in Spanish and English.

Ramon Mendoza, currently COO and chief technical officer, will transition to a dedicated CTO role focused on leading Luca's growth initiatives, including the recently announced CME. The CME is expected to consist of a two-phase expansion at the Campo Morado processing facility and will include an updated mine plan for the operation. Mr. Mendoza will oversee this exciting brownfields growth opportunity, ensuring the project's execution and delivery.

In addition, Luca has hired Dr. Jose Hernandez as vice-president, metallurgy and process engineering, effective March 1, 2026. Dr. Hernandez is a globally recognized metallurgical leader, and will work closely with the COO and CTO to deliver Luca's operational optimization and growth initiatives. Most recently, Dr. Hernandez served as manager, project metallurgy, at Teck Resources, and is fluent in Spanish and English.

These appointments expand and strengthen Luca's operational and technical leadership as the company advances optimization initiatives at both of its operating mines and executes its near-term growth strategy.

Dan Barnholden, Luca's CEO and director, commented: "We are very pleased to welcome Nick to Luca at an important stage in the company's growth. Nick will oversee all mining operations, with responsibility for operational performance, safety, cost management and integration of the Campo Morado expansion, strengthening our ability to deliver safe, stable and efficient production at both Campo Morado and Tahuehueto.

"We are equally pleased that Ramon Mendoza will continue as CTO, where his full focus will be on overseeing and advancing our growth pipeline and delivering the CME. Dr. Jose Hernandez will play a key role in all these initiatives, as we optimize and improve the metallurgical process at both our mines and execute on what we believe will be an industry-leading brownfields expansion at our Campo Morado mine."

Nick Shakesby, chief operating officer

Mr. Shakesby is a senior mining executive with more than 30 years of operational and project leadership experience across underground mining operations globally, with a strong focus on Mexico and Latin America.

He joins Luca from Cominvi S.A., Mexico's largest underground mining contractor, where he has served as chief executive officer since 2023. During his tenure, Mr. Shakesby led an operational and organizational transformation focused on safety performance, operational efficiency and profitability, positioning the company for sustained growth across multiple operating projects.

Previously, Mr. Shakesby served as vice-president, operations, and country manager, Mexico, at Endeavour Silver, where he was responsible for four operating underground mines. In that role, he implemented operational improvement and safety culture initiatives while increasing production performance and cost discipline.

Mr. Shakesby resides in Mexico and is fluent in Spanish and English.

Ramon Mendoza, chief technical officer

Mr. Mendoza brings over 35 years of senior experience in the mining industry, with expertise in mine development and process improvements, and a highly successful record of managing underground and open-pit operations. He specializes in advanced optimization techniques, integrating mine designs, planning, cost modelling tools and geosciences into the mine and processing plans.

Prior to joining Luca, he worked as a mining consultant and spent many years at First Majestic Silver, where he was a member of the senior leadership team focused on strategic management and project implementation.

In his prior roles, Mr. Mendoza provided technical oversight of the mineral resource and reserve estimation process, led technical due diligence for multiple mine acquisitions, directed exploration, mine design and projects teams to successfully explore, design and develop numerous growth projects and new mine developments, developed teams to lead change and innovation for the continuous improvement of operations, ensuring the integration of optimized business plans, and managed the operation of a portfolio of assets in Mexico with more than 4,000 direct employees.

Mr. Mendoza holds an MSc in mining engineering from Colorado School of Mines, and is fluent in both Spanish and English.

Dr. Jose Hernandez, vice-president, metallurgy and process engineering

Dr. Hernandez is a mineral processing executive with more than 20 years of international experience delivering operational improvements and technical innovation across global mining operations.

Most recently, he served as manager, project metallurgy, at Teck Resources, where he led processing activities through all project study phases, from conceptual engineering through detailed design, while providing company-wide technical leadership in mineral processing innovation.

Previously, Dr. Hernandez held senior technical leadership roles, including head of processing for Latin America and Australia at Anglo American, and vice-president of innovation, processing and metallurgy at First Majestic Silver, where he led plant optimization and technology deployment initiatives that improved throughput, recoveries and operating efficiency across multiple operations.

Earlier in his career, he contributed to the Highland Valley copper mill optimization project at Teck Resources, supporting the design and implementation of a major flotation plant expansion and recovery improvement programs.

Dr. Hernandez holds a PhD in metallurgical engineering from McGill University, and is fluent in Spanish and English.

Option issuance

The company has granted a total of 300,000 incentive stock options to certain officers in accordance with Luca's omnibus equity incentive plan. The options are exercisable at a price of $1.97 and will expire five years from the date of their issuance. The options will vest as follows: (i) 33 per cent on March 2, 2026; (ii) 33 per cent on Sept. 2, 2026; and (iii) the balance on March 2, 2027. The grant of the options is subject to approval by the TSX Venture Exchange.

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 significant exploration potential.

The company's Campo Morado mine hosts VMS-style (volcanogenic massive sulphide), 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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