LUCA PROVIDES OPERATIONS AND CORPORATE UPDATE
Rhea-AI Summary
Luca Mining (OTCQX: LUCMF) reported operational progress at its Campo Morado and Tahuehueto mines as of May 31, 2026. Key updates include higher stockpiles, steady mill throughput, improved mining and milling rates, new operational leadership, and the departure of two senior technical executives.
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Positive
- Campo Morado surface stockpile increased to about 63,000 tonnes from under 12,000 tonnes
- Campo Morado mill throughput averaged approximately 1,900 tpd in April–May 2026
- Tahuehueto milling rates averaged over 1,050 tpd in April–May, more than 5% above Q1 2026
- New COO appointed in April 2026 to lead operational optimization initiatives
Negative
- Departure of Chief Technical Officer Ramón Mendoza
- Departure of Vice President Metallurgy and Process Engineering Dr. Jose Hernandez
With the addition of new operational leadership, Luca is advancing these initiatives which are designed to improve mill performance and throughput, as well as optimize mining activities, at both mines.
At Campo Morado, strong performance of mining contractor Cominvi, combined with improved mine planning, has resulted in creation of a surface stockpile of mineralized material of approximately 63,000 tonnes as at May 31, 2026, a five-fold increase from the less than 12,000 tonnes at December 31, 2025. Mill throughput has remained strong and consistent in April-May, with an average of approximately 1,900 tonnes per day ("tpd"). This establishment of a meaningful surface ore stockpile at Campo Morado will allow Luca to optimize the mill feed blend at the operation, which is expected to lead to overall improvement in metallurgical recovery performance and, importantly, augment the design and execution of additional planned optimization programs in the coming months.
At Tahuehueto, a combination of improved mining rates, driven by the performance of mining contractor La Cantera, as well as increased mill availability, has resulted in increased and consistent mining and milling rates. Milling rates at Tahueheuto have increased to average over 1,050 tpd in April and May, a greater than
Dan Barnholden, Luca's CEO and Director, commented, "Under new operational leadership, led by COO Nick Shakesby who joined Luca in April of this year, we have rapidly implemented a series of initiatives across both projects to further derisk and optimize our mining and milling operations. We look forward to continuing this positive momentum and the realization our asset's full potential."
Corporate Update
The Company also announces the departure of Ramón Mendoza, Chief Technical Officer, and Dr. Jose Hernandez, Vice President, Metallurgy and Process Engineering. Luca would like to thank both individuals for their contributions to the Company and wish them success in their future endeavors.
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.
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.
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, conditions or performance that are based on assumptions about the proposed exploration programs and its anticipated results; the timing and costs of future activities on the Company's properties; success of exploration and development; anticipated time and results of forthcoming reports on the Campo Morado mine; capital requirements of the CME; the CME and targets, expectations and results thereof; inclusion of the Reforma and El Rey deposits in the updated mine plan as Mineral Reserves; and benefits from Campo Morado expansion and structure thereof. 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 Campo Morado mine can be achieved; that consistent and sustainable mill feed at Campo Morado mine will be achieved; the CME will yield anticipated results; 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.