LUCA INTERSECTS 28.4 METRES OF 2.3 G/T GOLD, 135 G/T SILVER, 0.6% COPPER, 1% LEAD AND 3.7% ZINC AT THE EL REY ZONE, CAMPO MORADO MINE

(Moderate)

(Very Positive)

Rhea-AI Summary

Luca Mining (OTCQX: LUCMF) reported new drill results from the Campo Morado mine in Mexico, including 28.4 m at 2.28 g/t gold, 134.89 g/t silver, 0.57% copper, 0.95% lead and 3.69% zinc at the unmined El Rey zone.

Underground holes at the Naranjo zone intersected up to 93.7 m of polymetallic mineralization. Luca has drilled 12,035 m underground and 16,535 m from surface in 2026 and is using VRIFY’s DORA AI software, which has outlined six priority target zones for further evaluation.

Positive

El Rey hole CMRY-26-10 intersected 28.4 m grading 2.28 g/t Au, 134.89 g/t Ag, 0.57% Cu, 0.95% Pb, 3.69% Zn
Naranjo hole CMUG-26-44 cut 64.0 m averaging 1.43 g/t Au, 54.47 g/t Ag, 0.52% Cu, 0.30% Pb, 1.30% Zn
Naranjo hole CMUG-26-43 returned 93.7 m of 0.86 g/t Au, 48.21 g/t Ag, 1.14% Cu, 0.14% Pb, 1.06% Zn
Total 12,035 m underground and 16,535 m surface drilling completed at Campo Morado to date in 2026
AI-based DORA analysis identified six consistent target zones after about 100 modelling experiments
New intersections occur in unmined zones proximal to existing Campo Morado underground infrastructure

Negative

El Rey surface holes CMRY-26-08 and CMRY-26-09 returned no significant values

News Market Reaction – LUCMF

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06/23/2026 - 08:00 AM

VANCOUVER, BC, June 23, 2026 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce new underground drill results from its ongoing exploration program at the Campo Morado polymetallic VMS mine in Guerrero State, Mexico.

Highlights

Continued success in the definition of high-grade, gold and silver-rich VMS mineralization in areas both adjacent and proximal to active underground workings at Campo Morado
Surface drillhole CMRY-26-10 intersected 28.4 metres ("m") of 2.28 g/t Au, 134.89 g/t Ag, 0.57% Cu, 0.95% Pb and 3.69% Zn from 104.2m, expanding the known mineralized footprint in the unmined El Rey zone
Underground drillhole CMUG-26-44 intersected 19.6 m of 2.78 g/t Au, 103.12 g/t Ag, 0.52% Cu, 0.67% Pb and 2.75% Zn from 40.5 m in the unmined Naranjo zone
Underground drillhole CMUG-26-42 intersected 20.6 m of 3.05 g/t Au, 50.69 g/t Ag, 0.65% Cu, 0.43% Pb and 1.57% Zn from 41.5 m, expanding previously defined mineralization in the unmined Naranjo zone
Exploration drilling operations continue at Campo Morado with two surface drill rigs and one underground drill rig – 12,035 m drilled from underground in 52 drillholes and 16,535 m drilled from 68 surface drillholes to date

Paul D. Gray, Luca's VP of Exploration, commented:

"This latest batch of drill results from the ongoing Campo Morado exploration campaign highlight the untapped potential of two of several unmined areas on the Campo Morado Property, El Rey and Naranjo. The Naranjo zone is known to be over 540 metres in length, up to 210 metres wide and averages approximately 60 metres in width. These new underground drillholes have expanded the zone while increasing confidence in the continuity of mineralization with more closely spaced drilling. At El Rey, surface drilling has also expanded the known limits of the zone while providing important geological information that will support evaluation of the zone for inclusion in the long-term Campo Morado mine plan. Drilling efforts continue on both surface and underground targets with a focus on testing under-explored areas close to existing underground infrastructure."

Near-Mine Underground Drilling

Underground drillhole CMUG-26-42 through CMUG-26-45 targeted the Largo Norte zone and successfully intersected mineralization in each of these drillholes from this unmined zone, including:

Naranjo:

CMUG-26-42:
- 47.2 m of 1.79 g/t Au, 44.63 g/t Ag, 0.68% Cu, 0.46% Pb and 2.49% Zn from 25.8 m, including 20.6 m of 3.05 g/t Au, 50.69 g/t Ag, 0.65% Cu, 0.43% Pb and 1.57% Zn from 41.5 m which includes 0.7 m of 3.35 g/t Au, 113.80 g/t Ag, 4.20% Cu, 0.24% Pb and 1.79% Zn from 43.0 m
CMUG-26-43:
- 93.7 m of 0.86 g/t Au, 48.21 g/t Ag, 1.14% Cu, 0.14% Pb and 1.06% Zn from 0.0 m, including 15.0m of 0.93 g/t Au, 81.20 g/t Ag, 3.08% Cu, 0.09% Pb and 1.31% Zn from 29.5 m
CMUG-26-44:
- 64.0 m of 1.43 g/t Au, 54.47 g/t Ag, 0.52% Cu, 0.30% Pb and 1.30% Zn from 0.0m, including 19.6 m of 2.78 g/t Au, 103.12 g/t Ag, 0.52% Cu, 0.67% Pb and 2.75% Zn from 40.5 m
CMUG-26-45:
- 107.6 m of 0.95 g/t Au, 33.74 g/t Ag, 0.64% Cu, 0.22% Pb and 1.33% Zn from 0.0 m; including 29.6 m of 1.37 g/t Au, 48.27 g/t Ag, 0.55% Cu, 0.52% Pb and 2.39% Zn from 75.7 m

El Rey:

CMRY-26-10:
- 28.4 m of 2.28 g/t Au, 134.89 g/t Ag, 0.57% Cu, 0.95% Pb and 3.69% Zn from 104.2m, including s high-grade interval of 9.7 m of 4.09 g/t Au, 208.99 g/t Ag, 0.74% Cu, 1.33% Pb and 5.05% Zn from 111.3 m
CMRY-26-11:
- 5.8 m of 2.15 g/t Au, 74.72 g/t Ag, 0.49% Cu, 0.64% Pb and 0.65% Zn from 103.4 m, and 7.6 m of 1.11 g/t Au, 80.35 g/t Ag, 0.68% Cu, 0.44% Pb and 5.62% Zn from 111.0 m
CMRY-26-12:
- 2.2 m of 3.45 g/t Au, 8.58 g/t Ag, 0.06% Cu, 0.07% Pb and 0.28% Zn from 123.0 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 drillholes 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 on-going underground drilling planned to target the A9, Muneco, Bajo and Fish deposits, which all contribute to the 2026–2028 mine plans.

Table 1: Highlight Diamond Drill Assay Results from UG Drillholes CMUG-26-42 through CMUG-26-45 and CMRY-26-10 through CMRY-26-12.

Hole ID	From (m)	To (m)	Interval* (m)	Au g/t	Ag g/t	Cu%	Pb%	Zn%
CMUG-26-42	1.0	11.5	10.5	0.18	46.40	1.55	0.10	1.06
	And
	25.8	73.0	47.2	1.79	44.63	0.68	0.46	2.49
	Including
	41.5	62.1	20.6	3.05	50.69	0.65	0.43	1.57
	Including
	43.0	43.7	0.7	3.35	113.80	4.20	0.24	1.79
	And
	74.2	95.5	21.3	0.12	20.94	0.87	0.03	1.94
CMUG-26-43	0.0	93.7	93.7	0.86	48.21	1.14	0.14	1.06
	Including
	1.9	6.0	4.1	0.85	34.93	0.42	0.22	1.91
	9.1	25.5	16.5	1.35	48.37	0.61	0.22	1.92
	Including
	9.1	14.8	5.7	1.27	43.46	0.65	0.15	1.50
	14.8	16.8	2.0	3.01	57.55	0.57	0.84	1.76
	And
	29.5	44.5	15.0	0.93	81.20	3.08	0.09	1.31
	47.5	49.5	2.0	0.61	36.15	0.47	0.11	1.58
	64.0	69.0	5.0	0.63	39.42	0.61	0.19	1.39
	77.0	93.7	16.7	0.92	53.17	1.39	0.10	0.52
	Including
	77.0	84.0	7.0	1.05	50.11	1.21	0.14	0.61
	0.0	64.0	64.0	1.43	54.47	0.52	0.30	1.30
	Including
CMUG-26-44	2.5	26.5	24.0	0.92	35.41	0.44	0.17	0.87
	33.4	40.5	7.1	0.94	39.86	0.50	0.18	0.48
	40.5	60.1	19.6	2.78	103.12	0.52	0.67	2.75
CMUG-26-45	0.0	107.6	107.6	0.95	33.74	0.64	0.22	1.33
	Including
	0.0	5.8	5.8	0.48	34.06	0.58	0.09	2.04
	7.2	22.2	15.0	1.15	21.63	0.55	0.18	1.28
	29.3	40.7	11.4	1.55	34.79	0.75	0.12	1.67
	58.2	62.2	4.0	1.09	26.63	0.69	0.11	0.52
	67.3	69.9	2.6	0.83	23.29	0.72	0.21	0.43
	75.7	105.3	29.6	1.37	48.27	0.55	0.52	2.39
CMRY-26-08	No Significant Values
CMRY-26-09	No Significant Values
CMRY-26-10	104.2	132.6	28.4	2.28	134.89	0.57	0.95	3.69
	Including
	106.7	109.5	2.8	2.19	104.78	0.46	0.53	1.49
	And
	111.3	120.9	9.7	4.09	208.99	0.74	1.33	5.05
	And
	126.2	132.6	6.4	1.80	122.93	0.66	1.04	4.94
	101.1	123.4	22.3	1.28	59.66	0.60	0.40	2.65
CMRY-26-11	103.4	109.3	5.8	2.15	74.72	0.49	0.64	0.65
	And
	111.0	118.5	7.6	1.11	80.35	0.68	0.44	5.62
CMRY-26-12	123.0	142.6	19.7	0.82	154.57	0.06	0.09	0.08
	Including
	123.0	125.2	2.2	3.45	8.58	0.06	0.07	0.28
	And
	133.6	142.6	9.0	0.31	327.13	0.05	0.12	0.02

*CMUG-26-42, CMUG-26-43 and CMUG-26-45 were all drilled parallel to the mineralized body which ranges from 20 to 100m in thickness and has a known length of up to 540m and width of up to 210m. CMUG-26-44 was drilled across the mineralized body and represents ~90% of true width.

Figures 1 through 7 present assay results from this latest batch of results and location maps of all drillholes presented in this news release.

Figure 1:

Figure 2:

Figure 3:

Figure 4:

Figure 5:

Figure 6:

Figure 7:

UPDATE ON AI ANALYSIS AT CAMPO MORADOUSING VRIFY'S DORA SOFTWARE

Starting in late 2025, Luca initiated an extensive data compilation and analysis program supported by VRIFY Technology Inc. ("VRIFY") and its proprietary AI prospectivity mapping software, DORA. This program at Campo Morado leverages Luca's substantial datasets, including over 650,000 metres of historical drilling, more than 30,000 soil samples, and detailed geological mapping at 1:20,000, 1:10,000, and 1:5,000 scales. These datasets are complemented by a comprehensive, multi-disciplinary geophysical survey database.

All Campo Morado datasets have been compiled and integrated into VRIFY's DORA software, which leverages proprietary deep learning models. These datasets form the geoscientific layers from which the selected model identifies patterns and generates prospective exploration targets. For the Campo Morado property, DORA utilized a total of 153 geophysical layers including 56 augmented and 97 non-augmented layers, all contributing to target modelling.

The geophysical inputs include primary layers along with their derivatives and augmented derivatives. These encompass: magnetic data, electromagnetic data, VLF, resistivity, gravity data, radiometric data, and induced polarization. Augmented geophysical datasets were generated through advanced feature extraction and deep learning techniques within DORA, including extraction of textural layers and automated lineament detection.

Additional inputs supporting the modelled prospective targets included soil and rock geochemistry layers derived from extrapolation of existing geochemical analyses (e.g., metal ratio analysis), together with layers generated through geospatial analysis of mapped lithological units and mapped structural elements.

This AI analysis using DORA identified six distinct target zones (see Figure 8), which have been consistently recognized across multiple iterations within the software. To date, approximately 100 individual models and experiments have been completed using DORA and the various data inputs. The resulting target areas are currently undergoing higher-resolution evaluation and refinement. Luca's technical team intends to advance these zones toward ground-truthing and the design of future exploration programs, including diamond drilling.

VRIFY's DORA has proven to be a valuable addition to geological assessment at Campo Morado, providing scientifically rigorous and statistically driven insights through advanced machine learning techniques.

Figure 8: DORA AI Analysis Results Summary – Target Areas

Figure 8: Figure 8: DORA AI Analysis Results Summary – Target Areas

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, 52 underground diamond drillholes totaling 12,035 m have been completed at the Campo Morado mine using "HQ" and/or "NQ" sized diamond drill core. These underground drillholes 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, 16,535 m have been drilled from 68 surface drillholes at the Reforma, El Rey, Reforma Deeps, Hidalgo, Zapata, Estrella de Oro, and Naranjo targets using "HQ" and/or "PQ" sized diamond drill core. These surface drillholes are designed to confirm and expand existing mineral resources at the Reforma and El Rey deposits, collect material for additional metallurgical test work, 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 600,000m 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 datasets—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.

Table 2: Underground and Surface Drill Collar Details for Released Results

Hole ID	UTM WGS84 Z14		Elevation (m)	Azimuth	Dip	Final Depth (m)
Hole ID	Easting	Northing	Elevation (m)	Azimuth	Dip	Final Depth (m)
CMUG-26-42	379646	2011886	1,174	342	40	199.00
CMUG-26-43	379634	2011853	1,170	215	-21	153.40
CMUG-26-44	379634	2011853	1,173	215	35	113.00
CMUG-26-45	379637	2011852	1,171	158	-8	140.00
CMRY-26-08	379711	2013009	1,510	252	-71	220.65
CMRY-26-09	379569	2013069	1,480	65	-90	281.85
CMRY-26-10	379627	2013072	1,467	29	-75	250.10
CMRY-26-11	379631	2013069	1,467	341	-70	178.75
CMRY-26-12	379631	2013071	1,467	339	-46	158.80

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 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 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, 1/4 core duplicates and blanks were implemented in the 2025-2026 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 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 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.

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 2026 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 did Luca Mining (OTCQX: LUCMF) announce about new drill results at Campo Morado on June 23, 2026?

Luca Mining announced new underground and surface drill results from the Campo Morado mine, including significant gold, silver, copper, lead and zinc intercepts in the unmined El Rey and Naranjo zones. According to Luca, these results may support future mine planning and resource growth.

What are the key drilling highlights from the El Rey zone for Luca Mining (LUCMF)?

The main El Rey highlight is hole CMRY-26-10, which intersected 28.4 m of 2.28 g/t gold, 134.89 g/t silver, 0.57% copper, 0.95% lead and 3.69% zinc from 104.2 m. According to Luca, this expands the mineralized footprint in an unmined zone.

How strong are the new Naranjo zone drill results for Luca Mining’s Campo Morado mine?

At Naranjo, underground hole CMUG-26-44 intersected 64.0 m grading 1.43 g/t gold, 54.47 g/t silver, 0.52% copper, 0.30% lead and 1.30% zinc from surface. According to Luca, several holes have expanded known mineralization and improved continuity.

How much drilling has Luca Mining (LUCMF) completed at Campo Morado in 2026 so far?

Luca reports 12,035 m of underground drilling from 52 holes and 16,535 m of surface drilling from 68 holes completed to date in 2026 at Campo Morado. According to Luca, two surface rigs and one underground rig are currently active.

How is Luca Mining using VRIFY’s DORA AI software at Campo Morado?

Luca is using VRIFY’s DORA AI prospectivity software to integrate over 650,000 m of drilling, 30,000 soil samples and extensive geophysics, generating exploration targets. According to Luca, DORA has outlined six distinct target zones now being refined for future drilling.

What does the Naranjo zone size and drilling mean for Luca Mining shareholders?

According to Luca, the Naranjo zone is over 540 m long, up to 210 m wide and about 60 m thick on average, with new holes expanding mineralization. For shareholders, this may indicate potential for additional resources near existing Campo Morado infrastructure.

Which future exploration plans at Campo Morado did Luca Mining (LUCMF) outline?

Luca plans to continue surface drilling at Estrella de Oro and Naranjo, and underground drilling at the A9, Muneco, Bajo and Fish deposits. According to Luca, these areas are expected to contribute to the 2026–2028 Campo Morado mine plans.