Mr. Dan Barnholden reports

LUCA REPORTS ROBUST Q1 PRODUCTION RESULTS AND MATERIALLY STRENGTHENS BALANCE SHEET

Luca Mining Corp. has released production results for the three months ended March 31, 2026, alongside continued strengthening of its balance sheet.

As at March 31, 2026, Luca's cash position increased to approximately $36.4-million, compared with $25.5-million at year-end 2025. The increase was primarily driven by strong operating cash flow, supplemented by approximately $2.1-million in proceeds from warrant and option exercises and net realized gains of approximately $3.6-million from silver call options. These options were implemented to re-establish exposure to silver prices in light of the silver stream at Tahuehueto.

As previously disclosed in the company's Q4 2025 financial results, debt has been reduced to approximately $1.4-million, with the remaining balance expected to be fully repaid by mid-2026.

Exploration update

During the first quarter of 2026, the company completed approximately 10,058 metres of drilling. Exploration activities were primarily focused on near-mine and resource expansion targets, achieving the objectives of extending mine life and improving production flexibility at the company's operating assets.

CEO commentary

"We started 2026 on strong footing, with solid operating performance and strong silver production in a favourable price environment," said Dan Barnholden, chief executive officer. "We remain focused on operational improvements at both mines, with particular emphasis on Campo Morado as we advance the Campo Morado expansion study toward a technical report in the second half of 2026.

"With a significantly strengthened balance sheet, Luca is well positioned to continue executing on its growth strategy, including advancing exploration, operational optimization and broader corporate initiatives."

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 volcanogenic-massive-sulphide-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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