Mr. Paul Gray reports

LUCA INTERSECTS 184 METRES OF 1.2 G/T GOLD, 72 G/T SILVER, 0.4% COPPER, 0.5% LEAD AND 1.7% ZINC AT THE LARGO NORTE ZONE, CAMPO MORADO MINE

Luca Mining Corp. has released new underground drill results from its continuing exploration program at the Campo Morado polymetallic VMS (volcanogenic massive sulphide) mine in Guerrero state, Mexico. The results continue to expand high-grade mineralization in multiple unmined zones located adjacent to existing underground infrastructure, highlighting the potential to grow near-mine resources and extend mine life.

Highlights

• Continued success expanding high-grade, gold and silver-rich VMS mineralization immediately adjacent to existing underground infrastructure, highlighting the potential to improve near-term grades and extend mine life.
• Underground drill hole CMUG-26-50 intersected 183.7 metres (m) of 1.18 grams per tonne Au (gold), 72.42 g/t Ag (silver), 0.39 per cent Cu (copper), 0.45 per cent Pb (lead) and 1.67 per cent Zn (zinc) from 3.6 m; including 18.3 m of 2.64 g/t Au, 152.34 g/t Ag, 0.53 per cent Cu, 1.05 per cent Pb and 2.52 per cent Zn from 11.9 m in the unmined Large Norte zone.
• Surface drill hole CMNJ-26-02 intersected 9.6 metres of 4.05 g/t Au, 241.09 g/t Ag, 0.90 per cent Cu, 1.57 per cent Pb and 2.72 per cent Zn from 175.3 m; including 1.2 m of 5.83 g/t Au, 509.00 g/t Ag, 0.70 per cent Cu, 2.63 per cent Pb and 0.42 per cent Zn from 176.7 m in the unmined Naranjo zone.
• Underground drill hole CMUG-26-46 intersected 90.6 m of 0.99 g/t Au, 40.07 g/t Ag, 0.94 per cent Cu, 0.18 per cent Pb and 0.73 per cent Zn from 0.0 m, including 11.7 m of 2.86 g/t Au, 43.73 g/t Ag, 0.96 per cent Cu, 0.68 per cent Pb and 1.55 per cent Zn from 79.2 m, expanding previously defined mineralization in the unmined Naranjo zone.
• Exploration drilling continues at Campo Morado with two surface drill rigs and one underground drill rig. To date, 13,571 m has been drilled from 60 underground drill holes and 20,063 m has been drilled from 75 surface drill holes.

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

"These latest drill results continue to demonstrate the significant upside that exists at Campo Morado beyond our current mine plan. We are consistently intersecting long intervals of high-grade polymetallic mineralization in multiple unmined zones located close to existing underground infrastructure, providing an opportunity to grow resources while leveraging the mine's existing development."

"Naranjo, Largo Norte and El Rey continue to deliver encouraging results, with drilling expanding the known extent of mineralization while increasing our confidence in the continuity of these zones. As drilling progresses, we continue to identify zones that have potential to extend mine life, improve production flexibility and support the long-term outlook for Campo Morado, which we plan to compile into a forthcoming technical report."

Near-mine underground drilling

Underground drill hole CMUG-26-46 through CMUG-26-49 targeted the Naranjo zone from underground drill stations while CMNJ-26-01 through CMNJ-26-03 targeted Naranjo from surface; all drill holes successfully intersected mineralization from this unmined zone with the underground drill holes increasing the deposit confidence and the surface holes expanding the Naranjo bounds. Highlights include:

Naranjo:

• CMUG-26-46:
  • 90.6 m of 0.99 g/t Au, 40.07 g/t Ag, 0.94 per cent Cu, 0.18 per cent Pb and 0.73 per cent Zn from 0.0 m, including 18.8 m of 0.75 g/t Au, 51.64 g/t Ag, 2.12 per cent Cu, 0.10 per cent Pb and 0.35 per cent Zn from 36.4 m, and including 11.4 m of 2.86 g/t Au, 43.73 g/t Ag, 0.96 per cent Cu, 0.68 per cent Pb and 1.55 per cent Zn from 79.2 m.
• CMUG-26-47:
  • 60.0 m of 1.39 g/t Au, 134.81 g/t Ag, 1.07 per cent Cu, 0.88 per cent Pb and 1.95 per cent Zn from 120.1 m.
• CMUG-26-48:
  • 149.5 m of 0.44 g/t Au, 35.80 g/t Ag, 0.85 per cent Cu, 0.20 per cent Pb and 1.44 per cent Zn from 0.0 m, including 24.2 m of 2.18 g/t Au, 49.10 g/t Ag, 0.53 per cent Cu, 0.48 per cent Pb and 2.09 per cent Zn from 89.6 m.
• CMUG-26-49:
  • 154.9 m of 0.65 g/t Au, 35.27 g/t Ag, 0.80 per cent Cu, 0.13 per cent Pb and 1.43 per cent Zn from 0.0 m; including 59.0 m of 1.51 g/t Au, 43.19 g/t Ag, 0.75 per cent Cu, 0.20 per cent Pb and 1.12 per cent Zn from 44.9 m which includes:
    • 6.3 m of 3.90 g/t Au, 72.09 g/t Ag, 0.59 per cent Cu, 0.36 per cent Pb and 1.32 per cent Zn from 73.8 m;
    • 5.6 m of 2.79 g/t Au, 69.99 g/t Ag, 0.99 per cent Cu, 0.27 per cent Pb and 1.72 per cent Zn from 83.6 m.
• CMNJ-26-02:
  • 9.6 m of 4.05 g/t Au, 241.09 g/t Ag, 0.90 per cent Cu, 1.57 per cent Pb and 2.72 per cent Zn from 175.3 m; including 1.2 m of 5.83 g/t Au, 509.00 g/t Ag, 0.70 per cent Cu, 2.63 per cent Pb and 0.42 per cent Zn from 176.7 m:
    • 10.5 m of 1.35 g/t Au, 75.56 g/t Ag, 0.59 per cent Cu, 0.69 per cent Pb and 2.91 per cent Zn from 193.0 m;
    • 22.4 m of 3.34 g.t Au, 51.38 g/t Ag, 0.45 per cent Cu, 0.30 per cent Pb and 0.80 per cent Pb from 207.6 m.

Additional to the Naranjo target, the Largo Norte, El Rey and Estrella de Oro zones were tested, and drill hole intercepts served to expand known boundaries of both deposits; highlights include:

Largo Norte:

• CMUG-26-50:
  • 183.7 m of 1.18 g/t Au, 72.42 g/t Ag, 0.39 per cent Cu, 0.45 per cent Pb and 1.67 per cent Zn from 3.6 m; including 18.3 m of 2.64 g/t Au, 152.34 g/t Ag, 0.53 per cent Cu, 1.05 per cent Pb and 2.52 per cent Zn from 11.9 m; and including:
    • 3.0 m of 1.35 g/t Au, 427.65 g/t Ag, 0.54 per cent Cu, 3.79 per cent Pb and 14.69 per cent Zn from 49.5 m;
    • 7.9 m of 2.80 g/t Au, 89.65 g/t Ag, 0.50 per cent Cu, 0.54 per cent Pb and 1.73 per cent Zn from 63.5 m.

El Rey:

• CMRY-26-17:
  • 15.4 m of 0.82 g/t Au, 59.74 g/t Ag, 0.63 per cent Cu, 0.34 per cent Pb and 2.88 per cent Zn from 73.4 m, including a high-grade interval of 1.1 m of 4.11 g/t Au, 115.10 g/t Ag, 0.63 per cent Cu, 1.79 per cent Pb and 3.77 per cent Zn from 87.6 m.
• CMRY-26-18:
  • 5.0 m of 0.75 g/t Au, 58.30 g/t Ag, 0.50 per cent Cu, 0.62 per cent Pb and 3.85 per cent Zn from 88.7 m.

Estrella de Oro:

• CMEO-26-01:
  • 4.4 m of 1.64 g/t Au, 200.01 g/t Ag, 0.86 per cent Cu, 0.41 per cent Pb and 0.35 per cent Zn from 200.8 m.

These recent intersections from the unmined Naranjo zone highlight the multiple opportunities to add additional mineable resources proximal to current development headings, existing infrastructure and expand previously defined mineral resources. Moreover, the El Rey drill holes analytical results continue to showcase the potential to add tonnage to new areas currently being developed into the long-term Campo Morado mine plan.

Surface drilling continues, with the current focus on Estrella de Oro and Naranjo in conjunction with continuing underground drilling planned to target the A9, Muneco, Bajo and Fish deposits, which all contribute to the 2026 to 2028 mine plans.

About Campo Morado exploration program

The current Campo Morado drill campaign represents the first meaningful exploration program conducted on the property since 2014 and is designed to support the addition of mineral resources to the near- and medium-term mine plan.

To date, 60 underground diamond drill holes totalling 13,571 m have been completed at the Campo Morado mine using HQ- and/or NQ-sized diamond drill core. These underground drill holes are focused on the definition of mineable resources proximal to existing underground workings, as well as testing new zones interpreted to host extensions of known mineralization based on the property's extensive historical drilling database.

In addition, 20,063 m have been drilled from 75 surface drill holes at the Reforma, El Rey, Reforma Deeps, Hidalgo, Zapata, Estrella de Oro, Naranjo, Carranza and Muzquiz targets using HQ and/or PQ sized diamond drill core. These surface drill holes are designed to confirm and expand existing mineral resources at the Reforma and El Rey deposits, collect material for additional metallurgical testwork, and support the potential inclusion of these deposits into an improved Campo Morado mine plan.

Previous exploration at Campo Morado has generated an extensive, high-quality proprietary geological database, including more than 600,000 m of underground and surface drilling, property-wide geological and structural mapping, greater than 30,000 geochemical soil samples, and a range of airborne and ground-based geophysical surveys, including gravity, magnetics, electromagnetics and induced polarization. Interpretation of these dat asets -- particularly gravity surveys -- has directly contributed to the discovery and definition of mineralized zones on the property and will continue to guide future exploration. Luca is currently compiling, cleaning and reinterpreting this geophysical database to prioritize the more than 38 exploration targets identified across the Campo Morado concession package.

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. Au overlimits from FA-430 are reanalyzed by FA530 30-gram fire assay with gravimetric finish. Ag overlimits from ICP MA300 analytical package are reanalyzed by FA530 30-gram fire assay with gravimetric finish. Similarly, Cu, Pb and Zn 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 their 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 were implemented in the 2025 to 2026 exploration drilling program and is monitored as chemical assay data become available.

Grant of stock options and restricted share units

The company has granted an aggregate of 1,725,000 incentive stock options and 1,962,500 restricted share units (RSUs) to certain officers and directors in accordance with Luca's omnibus equity incentive plan. The options are exercisable at a price of $1.00 and will expire five years from the date of their issuance. The options will vest as follows: (i) 33 per cent on July 29, 2026; (ii) 33 per cent Jan. 29, 2027; and (iii) the balance on July 29, 2027. The RSUs will vest on July 29, 2027.

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 significant 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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