LUCA Commences the First Exploration Drilling Campaign at Campo Morado in over a Decade
Luca Mining Corp.
Suite 410, 1111 Melville Street
Vancouver, BC, V6E 3V6, Canada
NEWS RELEASE
LUCA COMMENCES THE FIRST EXPLORATION DRILLING CAMPAIGN
AT CAMPO MORADO IN OVER A DECADE
Vancouver, British Columbia, January 14, 2025 - Luca Mining Corp. (“ Luca” or the “C ompany”) (TSX -V: LUCA;
OTCQX: LUCMF; Frankfurt: Z68) is pleased to announce the commencement of exploration drilling at the Campo
Morado mine in Guerrero State, Mexico. The Campo Morado Project (the “Property”) hosts several polymetallic
massive sulphide deposits containing zinc, copper, gold, silver , and lead mineralization within a highly prospective
land package totaling over 121 square kilometers within the Guerrero Gold Belt (s ee attached location map ). This
current drill campaign represents the first meaningful exploration program carried out on the Property since 2014
and is designed to target the addition of mineral resources to the near and medium term mine plan at Campo
Morado.
The Company plans up to 5,000 metres of underground diamond drilling from approximately 25 holes during this
first phase of exploration activities. This program ’s primary target is the definition of additional mineral resources
from under-drilled zones proximal to existing underground production areas as well as the identification of
mineralization within previously untested areas with high potential for the discovery of new mineral resources. A
surface drill program that will test portions of the concessions outside of the current mine workings and begin to
unlock the district-scale potential of this rapidly developing mineral camp is expected to begin later this quarter.
Previous exploration at Campo Morado has combined to produce an extensive set of high-quality, proprietary
geological data, including over 600,000 meters 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, electromagnetics, and induced polarization) . Analyses of these
Image 1 – Project Location Map
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geophysical survey datasets, particularly gravity, resulted directly in the discovery and definition of mineral resources
on the Prope rty and will continue to guide all exploration initiatives; moreover, this large geophysical dataset is
currently being compiled, cleaned and reinterpreted by Luca in an effort to prioritize the greater than 38 exploration
targets identified to date across the Property. See attached exploration target map. Production from Campo Morado
has been exclusively from five deposits; G9, El Largo, Reforma, Naranjo and El Rey. < Listen to Luca CEO, Dan
Barnolden discuss this news>
Paul Gray, VP Exploration, commented, "Like many established VMS systems around the world, Campo Morado has
significant growth potential, and I am excited to be embarking on these first exploration efforts on the property in
many years. My aim for this, and all future drill programs, is to identify additional near-mine mineralization that can
be quickly added to the mine plan at Campo Morado; l everage the extensive historical data and generate new
information through drilling and other exploration tools to extend the mine life and expand resources , and;
eventually, d emonstrate the true district-scale potential at Campo Morado by targeting high -impact exploration
zones further from the mine site. This 2025 drill program represents a pivotal moment for Luca, the first step in the
realization of these initiatives and Luca looks forward to seeing the results from this, and all future exploration
programs.”
Corporate Update
Luca also announces that 500,000 incentive stock options (“options”) has been granted to the Company’s recently
hired Chief Technology Officer. These options are exercisable at a price of $0.58 per share and expire five years from
the date of their issuance. A second tranche of 100,000 options, exercisable at $0.58 has been granted to one other
eligible person in accordance with Luca's omnibus equity incentive plan. These options are exercisable over a period
of two years.
Image 2 – Campo Morado Exploration Target Map
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About Luca Mining Corp.
Luca Mining (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining company with two 100%-
owned producing mines within the prolific Sierra Madre mineralized belt in Mexico which hosts numerous producing
and historic mines along its trend. The Company produces gold, copper, zinc, silver and lead from these mines that
each have considerable development and resource upside.
The Campo Morado polymetallic VMS mine is an underground operation located in Guerrero Stat e. It produces
copper-zinc-lead concentrates with precious metals credits. It is currently undergoing an optimization program
which is already generating significant improvements in recoveries, grades, efficiencies, and cashflows.
The Tahuehueto epithermal gold and silver mine is a new underground operation in Durango State . The Company
is commissioning the Tahuehueto mill and expects to achieve commercial production in early 2025.
Qualified Person
The technical information contained in this n ews 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
Contact Information:
Sophia Shane
Director of Corporate Development
+1 604 306 6867
Glen Sandwell
Corporate Communications Manager
For more information, please visit: www.lucamining.com
Cautionary Note Regarding Forward-Looking Statements
It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility
study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned
that Luca’s production decision has been made without a comprehensive feasibility study of established reserves
such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a
higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make
a production decision. Luca has completed a preliminary economic assessment (“PEA”) mining study on the Campo
Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the
previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018).
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 Looki ng Information includes, but is not limited to, disclosure regarding the
Financings, the anticipated timing of closing thereof and the expected use of proceeds therefrom; and other possible
events, conditions or financial performance that are based on assumptions about future economic conditions and
courses of action; the timing and costs of future activities on the Company’s properties, such as production rates
and increases; success of exploration, development and bulk sample processing activities, and timing for processing
at its own mineral processing facility on the Tahuehueto project 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 all
requisite approvals in respect of the Financings will be received, and all conditions precedent to completion of the
Financings will be satisfied, in a timely manner; the Company will be able to raise additional capital as necessary; the
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current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the
Tahuehueto Project can be achieved; the program to improve mining operations at Campo Morado will proceed as
planned; the continuity of the price of gold and other metals, economic and political conditions, and operations.
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.