LUCA STRENGTHENS TECHNICAL LEADERSHIP WITH APPOINTMENT OF COO AND BUILDS TEAM TO EXECUTE ON MINE OPTIMIZATIONS

Rhea-AI Summary

Luca Mining (OTCQX: LUCMF) appointed Nick Shakesby as Chief Operating Officer effective April 1, 2026, and strengthened its technical team to execute the Campo Morado Expansion (CME) and other optimization initiatives. The CME, a two‑phase mill optimization and expansion plus updated mine plan, will be reported in an NI 43‑101 Technical Report expected in H2 2026.

The company also named Ramón Mendoza as CTO and hired Dr. Jose Hernandez as VP, Metallurgy and Process Engineering. The company granted 300,000 incentive stock options exercisable at C$1.97, subject to TSXV approval.

Positive

• Appointed COO Nick Shakesby, 30+ years operational experience
• Dedicated CTO role for growth and CME led by Ramón Mendoza
• Hired Dr. Jose Hernandez to lead metallurgy and process engineering
• CME two‑phase expansion and updated mine plan targeted for H2 2026 NI 43‑101
• Granted 300,000 incentive stock options at C$1.97, five‑year term

Negative

• None.

News Market Reaction – LUCMF

-1.90%

1 alert

-1.90% News Effect

On the day this news was published, LUCMF declined 1.90%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, BC, March 9, 2026 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company") (TSX-V: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce the appointment of Nick Shakesby as Chief Operating Officer ("COO"), effective April 1, 2026. Luca has also strengthened its technical team to advance and execute on optimization and growth initiatives, including the Campo Morado Expansion ("CME").

The CME is a mill optimization and expansion study and mine plan update for the Campo Morado mine, targeting improved recovery rates of all metals, most notably an expected significant increase in gold and silver recoveries at the operation (see Company press release dated February 18, 2026). The CME, life of mine plan, and Mineral Reserve estimate will be delivered in a Technical Report to be prepared in accordance with NI 43-101, expected to be released in the second half of 2026.

Luca's new technical team has been assembled to provide deep management experience and expertise in overseeing and executing on the asset optimization and transformational growth opportunities ahead for the Company. 

Nick Shakesby, Luca's new COO, is a senior mining executive with more than 30 years of operational and project leadership experience across underground mining operations globally, with a strong focus on Mexico and Latin America.

Mr. Shakesby joins Luca from COMINVI S.A., Mexico's largest underground mining contractor, where he has served as Chief Executive Officer since 2023. Previously, Mr. Shakesby served as Vice President, Operations and Country Manager, Mexico at Endeavour Silver Corp., where he was responsible for four operating underground mines. He resides in Mexico and is fluent in Spanish and English.

Ramón Mendoza, currently Chief Operating Officer and Chief Technical Officer ("CTO"), will transition to a dedicated CTO role focused on leading Luca's growth initiatives, including the recently announced CME. The CME is expected to consist of a two-phase expansion at the Campo Morado processing facility and will include an updated mine plan for the operation. Mr. Mendoza will oversee this exciting brownfields growth opportunity, ensuring the project's execution and delivery.

In addition, Luca has hired Dr. Jose Hernandez as Vice President, Metallurgy and Process Engineering, effective March 1, 2026. Dr. Hernandez is a globally recognized metallurgical leader and will work closely with the COO and CTO to deliver Luca's operational optimization and growth initiatives. Most recently, Dr. Hernandez served as Manager, Project Metallurgy at Teck Resources and is fluent in Spanish and English.

These appointments expand and strengthen Luca's operational and technical leadership as the Company advances optimization initiatives at both of its operating mines and executes its near-term growth strategy.

Dan Barnholden, Luca's CEO and Director, commented, "We are very pleased to welcome Nick to Luca at an important stage in the Company's growth. Nick will oversee all mining operations, with responsibility for operational performance, safety, cost management, and integration of the Campo Morado Expansion, strengthening our ability to deliver safe, stable, and efficient production at both Campo Morado and Tahuehueto.

"We are equally pleased that Ramón Mendoza will continue as CTO, where his full focus will be on overseeing and advancing our growth pipeline and delivering the CME. Dr. Jose Hernandez will play a key role in all these initiatives, as we optimize and improve the metallurgical process at both our mines and execute on what we believe will be an industry-leading brownfields expansion at our Campo Morado mine."

Nick Shakesby, Chief Operating Officer

Mr. Shakesby is a senior mining executive with more than 30 years of operational and project leadership experience across underground mining operations globally, with a strong focus on Mexico and Latin America.

He joins Luca from COMINVI S.A., Mexico's largest underground mining contractor, where he has served as Chief Executive Officer since 2023. During his tenure, Mr. Shakesby led an operational and organizational transformation focused on safety performance, operational efficiency, and profitability, positioning the company for sustained growth across multiple operating projects.

Previously, Mr. Shakesby served as Vice President, Operations and Country Manager, Mexico at Endeavour Silver Corp., where he was responsible for four operating underground mines. In that role, he implemented operational improvement and safety culture initiatives while increasing production performance and cost discipline.

Mr. Shakesby resides in Mexico and is fluent in Spanish and English.

Ramón Mendoza, Chief Technical Officer

Mr. Mendoza brings over 35 years of senior experience in the mining industry, with expertise in mine development and process improvements, and a highly successful track record of managing underground and open-pit operations. He specializes in advanced optimization techniques, integrating mine designs, planning, cost modeling tools, and geo-sciences into the mine and processing plans.

Prior to joining Luca, he worked as a mining consultant and spent many years at First Majestic Silver Corp. where he was a member of the senior leadership team focused on strategic management and project implementation.

In his prior roles, Mr. Mendoza provided technical oversight of the mineral resource and reserve estimation process, led technical due diligence for multiple mine acquisitions, directed exploration, mine design, and projects teams to successfully explore, design, and develop numerous growth projects and new mine developments, developed teams to lead change and innovation for the continuous improvement of operations, ensuring the integration of optimized business plans, and managed the operation of a portfolio of assets in Mexico with more than 4,000 direct employees.

Mr. Mendoza holds an MSc in Mining Engineering from Colorado School of Mines and is fluent in both Spanish and English.

Dr. Jose Hernandez, Vice President, Metallurgy and Process Engineering

Dr. Hernandez is a mineral processing executive with more than 20 years of international experience delivering operational improvements and technical innovation across global mining operations.

Most recently, he served as Manager, Project Metallurgy at Teck Resources, where he led processing activities through all project study phases, from conceptual engineering through detailed design, while providing company-wide technical leadership in mineral processing innovation.

Previously, Dr. Hernandez held senior technical leadership roles including Head of Processing for Latin America and Australia at Anglo American and Vice President of Innovation, Processing and Metallurgy at First Majestic Silver, where he led plant optimization and technology deployment initiatives that improved throughput, recoveries, and operating efficiency across multiple operations.

Earlier in his career, he contributed to the Highland Valley Copper Mill Optimization Project at Teck Resources, supporting the design and implementation of a major flotation plant expansion and recovery improvement programs.

Dr. Hernandez holds a PhD in Metallurgical Engineering from McGill University and is fluent in Spanish and English.

Option Issuance

The Company has granted a total of 300,000 incentive stock options ("Options") to certain officers in accordance with Luca's omnibus equity incentive plan. The Options are exercisable at a price of C$1.97 and will expire five years from the date of their issuance. The Options will vest as follows: (i) 33% on March 2, 2026; (ii) 33% on September 2, 2026; and (iii) the balance on March 2, 2027. The grant of the Options is subject to approval by the TSX Venture Exchange.

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, 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/luca-strengthens-technical-leadership-with-appointment-of-coo-and-builds-team-to-execute-on-mine-optimizations-302707272.html

SOURCE Luca Mining Corp.

FAQ

Who is Luca Mining's new COO and when does Nick Shakesby start (LUCMF)?

Nick Shakesby is Luca Mining's new COO, starting April 1, 2026. According to the company, he brings over 30 years of underground mining operational and project leadership, with strong Mexico and Latin America experience and prior roles at COMINVI and Endeavour Silver.

What is the Campo Morado Expansion (CME) timeline and deliverable for LUCMF?

The CME is a two‑phase mill optimization and expansion with an updated mine plan. According to the company, the CME, life of mine plan, and NI 43‑101 Mineral Reserve estimate will be delivered in a Technical Report expected in the second half of 2026.

What technical hires did Luca announce to support mine optimizations for LUCMF?

Luca named Ramón Mendoza as CTO and hired Dr. Jose Hernandez as VP, Metallurgy and Process Engineering. According to the company, these appointments strengthen technical leadership to execute metallurgical optimization and the Campo Morado Expansion.

What are the terms of the stock options granted to officers at LUCMF?

The company granted 300,000 incentive stock options exercisable at C$1.97, expiring five years from issuance. According to the company, the options vest 33% on March 2, 2026, 33% on September 2, 2026, and the balance on March 2, 2027, subject to TSXV approval.

How will the new COO oversee operations at Campo Morado and Tahuehueto (LUCMF)?

The COO will oversee mining operations, safety, cost management, and integration of the CME across both mines. According to the company, Nick Shakesby will be responsible for operational performance and execution at Campo Morado and Tahuehueto.