LUCA DRILLS 3.8m of 12.54 g/t AuEq AS PART OF ONGOING UNDERGROUND DRILL PROGRAM AT CAMPO MORADO

Rhea-AI Summary

Luca Mining Corp. (LUCMF) has announced significant drill results from its ongoing 5,000-meter Phase One underground exploration program at the Campo Morado mine in Mexico. The highlight includes drillhole CMUG-25-012 which intersected 3.8m of 12.54 g/t AuEq (5.4 g/t Au, 288 g/t Ag, 0.8% Cu, 2.2% Pb, 6.4% Zn) within a wider 15.8m zone of 4.87 g/t AuEq, representing a new ore zone discovery in the G9 Deposit.

The company has completed 16 underground drillholes totaling over 2,700m as part of the first substantive exploration since 2014. Additionally, Luca has launched a surface drilling program to test property-wide targets including Reforma and El Rey deposits. The Campo Morado property spans over 121 square kilometers within the Sierra Madre del Sur mineral belt, hosting multiple polymetallic massive sulphide deposits.

The drilling program aims to expand near-mine resources and quickly integrate new findings into the mine plan.

Positive

• Discovery of new high-grade ore zone with 3.8m of 12.54 g/t AuEq in the G9 Deposit
• Multiple high-grade intersections found near existing mine workings
• First substantive exploration since 2014 showing significant untapped potential
• Results can be quickly integrated into near-term and medium-term mine plans
• Surface drilling program launched to test additional deposits (Reforma and El Rey) untouched since 2010

Negative

• None.

VANCOUVER, BC, May 12, 2025 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce drill results from the next seven (7) underground diamond drill holes of an ongoing 5,000 metre ("m") Phase One exploration drill program at the Campo Morado Polymetallic VMS mine in Guerrero State, Mexico.

• Drillhole CMUG-25-012 drilled 3.8m of 12.54 g/t AuEq** (3.8m of 5.4 g/t Au, 288 g/t Ag, 0.8% Cu, 2.2% Pb and 6.4% Zn) within a wider 15.8m of 4.87 g/t AuEq (2.2 g/t Au, 109 g/t Ag, 0.3% Cu. 0.8% Pb and 2.4% Zn) representing the discovery of a new ore zone within the G9 Deposit.
• 16 underground drillholes completed to date as part of a 5,000m Phase 1 program targeting near-mine resource expansion.
• Untapped high-grade mineral potential close to existing mine workings continues to be identified in underdrilled zones – results to inform updated mineral resource and mine plans.
• Surface drilling underway to test property-wide targets including Reforma and El Rey – first exploration at these deposits since 2010.

Campo Morado hosts a large cluster of polymetallic massive sulphide deposits containing gold, silver, zinc, copper, and lead mineralization within a highly prospective land package totaling over 121 square kilometres within the Sierra Madre del Sur mineral belt.  This year's underground exploration campaign is the first substantive exploration the mine has seen since 2014.  The objective of this initial stage of underground exploration drilling is to test under-drilled areas close to active mine workings that offer high potential for quickly adding new mineable resources that will impact mine planning.

Three drillholes (CMUG-25-08 through CMUG-25-10 inclusive) targeted a previously undrilled zone located approximately 40m above active mine workings at the G9 Deposit.  Drillhole CMUG-25-012 intersected strongly developed massive sulphide mineralization mineraliszed that returned 3.8 m of 12.54 g/t AuEq (5.44 g/t gold, 287.8 g/t sliver, 0.78% copper, 2.19% lead and 6.44% zinc). Approximately 25m above CMUG-25-012's intersection drillholes CMUG-25-09 and CMUG-25-010 intersected a copper-rich  mineralized zone  that returned 4.1m of 3.52 g/t AuEq (0.57 g/t gold, 61.5 g/t sliver, 1.63% copper, 0.26% lead and 1.17% zinc) and 2.6 m of 4.03 g/t AuEq (0.30 g/t gold, 100.73 g/t sliver, 2.25% copper, 0.10% lead and 0.23% zinc), respectively (See Table 1). These results highlight the existence of previously unknown high-grade mineralization yet to be captured in the Campo Morado mine plan – continued drilling efforts will target additional, near-mine areas. Figures 1 to 8 present the locations of the drillholes, and Table 2 provides drill collar details.  Similarly, drillhole CMUG-25-013 intersected massive sulphide mineralization of 2.5m of 4.01 g/t AuEq (0.35 g/t Au, 64.82 g/t Ag, 2.12% Cu, 0.26% Pb and 1.60% Zn) in the Southwest Zone, with the mineralized intersection located immediately below mine workings.

Paul D. Gray, Luca VP Exploration, commented: "Drilling new high-grade massive sulphides straight away is a great start to our exploration program and demonstrates that previous exploration left very significant ore to be discovered, and some very close to our active mine workings. "The 2025 drilling program at Campo Morado continues to define additional mineral potential beyond the extent of currently known mineral resources. These results have not only corroborated our interpretations that the known mineralized trends are more extensive and continuous than previously thought but have quickly defined new areas of high-grade massive sulphide mineralization that may quickly develop into brand new ore zones.  Additionally, the surface drilling program now underway at Campo Morado will concentrate initially on the Reforma and El Rey VMS deposits, both of which remain unmined and which the Company believes can be expanded by the drill bit."

Table 1: Highlighted Diamond Drill Results

Hole ID	From	To	Interval*	Au g/t	Ag g/t	Cu %	Pb %	Zn %	AuEq**
CMUG-25-004	NSV
CMUG-25-008	NSV
CMUG-25-009	13.6	17.6	4.1	0.57	61.53	1.63	0.26	1.17	3.52
and	35.1	37.3	2.1	0.34	49.16	1.46	0.09	0.35	2.63
including	36.9	37.3	0.4	0.60	215.00	7.50	0.33	1.25	11.70
and	48.3	56.0	7.8	0.64	58.68	0.70	0.35	2.07	2.91
CMUG-25-010	14.5	17.0	2.6	0.30	100.73	2.25	0.10	0.23	4.03
and	59.6	65.1	5.5	0.71	63.35	0.85	0.37	1.92	3.14
and	73.6	75.7	2.1	0.41	36.79	0.45	0.48	4.42	2.98
CMUG-25-011	18.3	20.4	2.2	0.26	23.67	0.49	0.08	4.27	2.57
and	25.8	29.3	3.5	0.71	56.02	1.09	0.24	7.74	5.29
CMUG-25-012	5.3	8.6	3.3	2.14	105.45	0.77	0.71	2.22	5.19
including	5.3	6.1	0.8	8.04	270.00	0.58	2.23	6.64	14.79
and	69.9	70.9	1.0	0.63	47.70	0.48	1.14	3.36	3.14
and	76.8	80.2	3.5	3.31	136.19	0.31	1.13	2.73	6.52
including	76.8	92.6	15.8	2.21	109.36	0.29	0.81	2.38	4.87
and including	86.0	92.6	6.6	3.31	177.51	0.50	1.33	4.12	7.76
or including	86.0	86.3	0.3	2.05	184.90	0.72	1.28	9.34	8.62
and including	88.8	92.6	3.8	5.44	287.83	0.78	2.19	6.44	12.54
CMUG-25-013	2.5	7.1	4.6	0.22	38.34	1.26	0.14	1.16	2.46
including	2.5	5.0	2.5	0.35	64.82	2.12	0.26	1.60	4.01
and	228.4	232.2	3.9	0.14	34.80	2.06	0.04	0.32	2.86

*True widths are estimated to be >90% of drilled intervals.

** AuEq equation is: AuEq = Au + (Ag*0.0124) + (Cu%*1.0572) + (Pb%*0.2203) + (Zn%*0.3469), at $2,488.14 US$/oz Au, 30.79 US$/oz Ag, 3.84 US$/lb Cu, 0.80 US$/lb Pb and 1.26 US$/lb Zn, respectively.

Five drillholes (CMUG-25-08 through CMUG-25-012 inclusive) targeted an under-drilled area within the C127 Zone of the G9 Deposit – an area of active mine development; CMUG-25-08 was drilled roughly north and CMUG-25-010 through CMUG-25-012 inclusive were drilled generally north-northeast from a single drill station within the C127 Zone of the G9 Deposit; Drillhole CMUG-25-13 was a vertical hole in the Southwest Zone designed to test mineralization continuity below current mining levels. The mineralization identified in these drillholes can be quickly integrated into the near-term and medium-term Campo Morado mine plan.

To date, 16 underground diamond drillholes have been completed for over 2,700 m with "HQ" sized diamond drill core. This is part of the current exploration campaign whose primary objective is to define mineable resources in close proximity to existing mine workings, as well as within zones interpreted to host extensions of the mineralization, based on the extensive historic drilling database this property offers.  It is anticipated that these drillholes will inform a planned, updated Mineral Resource at Campo Morado and will contribute to add new ore into the near-term and medium-term Campo Morado Mine Plan.

Table 2: Underground Drill Collar Details for Released Results

	UTM WGS84
Hole_ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
CMUG-25-004	379066	2011285	1,048	269	12	120
CMUG-25-008	378706	2011302	888	353	-29	162
CMUG-25-009	378706	2011301	889	022	6	141
CMUG-25-010	378706	2011301	889	005	6	111
CMUG-25-011	378706	2011301	889	022	17	102
CMUG-25-012	378706	2011301	889	023	-12	111
CMUG-25-013	378599	2011112	844	000	-90	300.5

About 2025 Campo Morado Surface Exploration Program

Luca's inaugural surface exploration drill program is now underway and will be run in parallel with the on-going underground exploration program at Campo Morado.  A Phase 1 2,500m diamond drilling program is planned, focused on definition and expansion of the Reforma and El Rey Deposits that are located approximately one kilometer north and east of the main Campo Morado Mine.  These deposits host Mineral Resources (See Company News Release of April 8, 2025) which have not been assessed in any way in over 14 years. 

Thirty-eight (38) priority targets have been identified, based on assessment of the substantive historic exploration database, and ranked by coincident geological, geochemical and geophysical anomalies. Several of these targets, including Reforma and El Rey, have seen historic exploration including diamond drilling, however the majority of these identified targets are completely undrilled.  Considering the fertile and prolific geology of the large Campo Morado concessions, each of these targets has the potential for significant new massive sulphide discoveries. Luca intends to prioritize and systematically explore the larger Campo Morado concession package in the coming months.

Of particular interest with respect to Reforma and El Rey is the elevated gold-silver content of the massive sulphide mineralization that is clearly notable from historic drill results.  Gold and silver prices are now significantly higher than when Reforma and El Rey were first explored and Luca believes the potential precious metal endowment of these, and other new zones of massive sulphides can add significant value to this asset, in particular a potential value-add to the future profit margin of the mine.

The 2025 Campo Morado Underground Exploration Program

The current Campo Morado drill campaign represents the first meaningful exploration program carried out on the property since 2014 and is designed to target the addition of new mineral resources that will impact the near- and medium-term mine plan at Campo Morado.

The Company plans up to 5,000 metres of underground diamond drilling in approximately 25 holes during this first phase of exploration activities. This program's primary objective is to definenew mineable resources from under-drilled zones near to existing underground production areas, as well as to identify new massive sulphide mineralization within previously untested areas that offer high potential for the development of new mineral resources.

Previous exploration at Campo Morado contributed? contributed to produce an extensive exploration database including high-quality, proprietary geological data, including over 600,000 metres of underground and surface drilling, property-wide geologic/structural mapping, approximately 30,000 geochemical soil samples, and a variety of airborne and ground-based geophysical surveys (including gravity, magnetics, electromagnetics and induced polarization). Drill-testing several of these geophysical anomalies, and particularly the gravity anomalies, resulted directly in the discovery of massive sulphide deposits across the property and will continue to guide our exploration targeting. Moreover, this large geophysical data set is currently being compiled, cleaned and reinterpreted by Luca to prioritize the 38 exploration targets identified to date across the property.

Analytical Method and Quality Assurance/Quality Control Measures

All drill core splits reported in this news release were analysed by Bureau Veritas of Durango, Mexico, utilizing the Multi-Acid digestion ICP-ES 35-element MA300 analytical package with FA-430 30-gram Fire Assay with AAS finish for gold on all samples. Au over-limits from FA-430 are re-analyzed by FA530 30-gram Fire Assay with Gravimetric finish. Ag over-limits from ICP MA300 analytical package are re-analyzed by FA530 30-gram Fire Assay with Gravimetric finish. Similarly, Cu, Pb and Zn over-limits from ICP MA300 analytical package are re-analyzed by ICP Multi-Acid 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 samples 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 Bureau Veritas' Durango Laboratory, where samples are prepared to a 250-gram pulp and analyzed for Gold by Fire assay with pulps shipped to Bureau Veritas's Analytical laboratory in Vancouver, B.C., for final ICP chemical analysis.  A robust system of standards, 1/4 core duplicates and blanks was implemented in the 2025 exploration drilling program and is monitored as chemical assay data become.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Mr. Paul D. Gray, P.Geo., 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 Corp. (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) 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 75 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.  The Company has successfully commissioned its mill and is now in commercial production.

On Behalf of the Board of Directors
(signed) "Dan Barnholden"

Dan Barnholden, Chief Executive Officer

For more information, please visit: www.lucamining.com

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, estimated production guidelines for 2025 and other possible events, conditions or performance that are based on assumptions about the proposed exploration program and its anticipated results; the timing and costs of future activities on the Company's properties, such as production rates and increases and sustaining capital expenditures; success of exploration, development, and metres to be drilled in exploration on the Tahuehueto Mine site and the Campo Morado Mine site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans","expects","scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Tahuehueto Mine can be achieved; that consistent and sustainable mill feed at Campo Morado Mine will be achieved; the continuity of the price of gold and other metals and economic and political conditions. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Luca Mining Corp.

FAQ

What were the key drilling results from LUCMF's Campo Morado exploration program in May 2025?

The key result was drillhole CMUG-25-012 which intersected 3.8m of 12.54 g/t AuEq (5.4 g/t Au, 288 g/t Ag, 0.8% Cu, 2.2% Pb, 6.4% Zn) within a wider 15.8m zone of 4.87 g/t AuEq, representing a new ore zone discovery in the G9 Deposit.

How many drill holes has LUCMF completed in the 2025 Campo Morado underground program?

Luca Mining has completed 16 underground diamond drillholes totaling over 2,700 meters as part of their 5,000-meter Phase One exploration program.

What is the size of LUCMF's Campo Morado property and where is it located?

Campo Morado spans over 121 square kilometers within the Sierra Madre del Sur mineral belt in Guerrero State, Mexico.

What are the next exploration targets for LUCMF at Campo Morado?

Luca Mining is conducting surface drilling to test property-wide targets, particularly the Reforma and El Rey deposits, which haven't been explored since 2010. The company has identified 38 priority targets based on geological, geochemical, and geophysical anomalies.

When was the last significant exploration conducted at Campo Morado before LUCMF's current program?

The current drilling campaign represents the first meaningful exploration program carried out on the property since 2014, making it approximately 11 years since the last significant exploration work.