LUCA Drills 3.8m of 12.54 G/T AuEq as Part of Ongoing Underground Drill Program at Campo Morado
Luca Mining Corp.
Suite 410, 1111 Melville Street
Vancouver, BC, V6E 3V6, Canada
NEWS RELEASE
LUCA DRILLS 3.8m of 12.54 g/t AuEq AS PART OF ONGOING
UNDERGROUND DRILL PROGRAM AT CAMPO MORADO
Vancouver, B.C., May 12, 2025: Luca Mining Corp. (“Luca” or the “Company”) (TSX-V: 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 t o 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 . D rillhole CMUG-25-012 i ntersected 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.
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Figure 1
Figure 2
Figure 3
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Figure 4
Figure 5
Figure 6
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Figure 7
Figure 8
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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 q uickly integrated into the near -term and
medium-term Campo Morado mine plan.
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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
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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. M oreover, 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 IC P 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 exploratio n drilling
program and is monitored as chemical assay data become.
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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
Contact Information:
Sophia Shane
Director of Investor Relations
+1 604 306 6867
Glen Sandwell
Corporate Communications Manager
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 ne cessary; 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