Announcement • Mar 10

Luca Mining Corp. Announces Executive Changes

Luca Mining Corp. announced the appointment of Nick Shakesby as Chief Operating Officer, 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. 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. Ramn 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. 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. Ramn Mendoza, Chief Technical OfficerMr. 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 EngineeringDr. 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.

Announcement • Feb 20

Luca Mining Corp Advances Study to Optimize Campo Morado and Increase Gold and Silver Production

Luca Mining Corp. announced that the Company's board of directors has approved a mill optimization and expansion study and mine plan update for the Campo Morado mine to be prepared as a technical report in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, expected to be delivered in the second half of 2026. Ausenco PTY Ltd. has been selected as the technical third-party engineering consultant to lead the Campo Morado Expansion. Ausenco is designing the Campo Morado Expansion as a two-phase optimization and expansion project. Phase 1 will consider a bulk sulphide flotation processing flowsheet with increased grinding capacity to achieve optimal separation of sulphide minerals and produce high-quality copper and zinc concentrates, targeting higher recovery rates of all metals and increased mill throughput rates. Phase 2 will evaluate the recovery to doré of the gold and silver contained in a precious metals-rich pyrite concentrate remaining after the Phase 1 optimized flotation process. Additional metallurgical test work to support the Campo Morado Expansion Phase 1 and Phase 2 optimization is underway at third-party testing facilities and will be released as available. Alongside the Campo Morado Expansion mill optimization, a life of mine plan, including the currently unmined high-grade Reforma and El Rey deposits will be evaluated. The Campo Morado Expansion, life of mine plan and Mineral Reserve statement will be delivered in a Technical Report to be prepared in accordance with National Instrument 43-101, expected to be released in the second half of 2026. Luca is evaluating the purchase of key long-lead-time items to support the timely delivery of the Campo Morado Expansion optimization project. Phase 1 of the Campo Morado Expansion is being considered with the goal to achieve greater consistency in operational performance at the Campo Morado processing facilities, with improved pre-flotation, on-stream analysis of flotation concentration, and the addition of ultra-fine grinding capacity to achieve a target grind size of 8-10 microns from current operational levels of a target regrind size of 15 microns. The Phase 1 flowsheet at the Campo Morado mill is expected to reconfigure the current sequential flotation of copper and zinc concentrates to a bulk flotation of all sulphides, followed by additional regrinding to effectively separate sulphide species prior to a sequential flotation process to produce copper and zinc concentrates. The final tailings from this Phase 1 bulk flotation-regrinding flowsheet are expected to be primarily a pyrite concentrate containing gold and silver. The Company anticipates that the additional grinding capacity contemplated under the Phase 1 optimization will allow the current grinding capacity bottlenecks at the operation to be relieved. Luca and Ausenco are evaluating various proven grinding technologies in order to achieve targeted grind sizes under the Campo Morado Expansion, including both Glencore Technology's IsaMill and vertical stirred mill options. Given existing grid power and transformer capacity at Campo Morado, the Company does not expect power costs to be a primary sensitivity under the Campo Morado Expansion Phase 1 flowsheet. Additional metallurgical testwork is ongoing both at Luca's metallurgical laboratories and at independent third-party testing facilities to support the Campo Morado Expansion Phase 1 flowsheet. It is expected that these test results will be released in the first half of 2026. Following the flotation of high-quality zinc and copper concentrates under the Campo Morado Expansion Phase 1 optimization, Ausenco will evaluate if a tailings product containing high grades of precious metals and consisting primarily of pyrite-associated gold and silver will be available for further processing. Under the Campo Morado Expansion Phase 2, Ausenco will evaluate various conventional methodologies to recover gold and silver from this high-grade pyrite concentrate to produce a gold-silver doré at the mine. Currently at the Campo Morado operation, there is no gold leaching capacity and all precious metals produced are contained in concentrates with no existing doré production. As a base case, Campo Morado Expansion Phase 2 will evaluate direct conventional cyanide leaching of this high-grade pyrite concentrate. The Phase 2 optimization is being evaluated to include the construction of leach tanks, counter current decantation filters, and a Merrill-Crowe process to recover gold and silver to doré. Additional metallurgical testwork to support the Campo Morado Expansion Phase 2, including samples from the currently unmined high-grade Reforma and El Rey deposits at Campo Morado are being evaluated at both Luca's metallurgical laboratories and at independent third-party testing facilities. Metallurgical test results will be released as they become available. When considering the Campo Morado Expansion Phase 2 flowsheet, alternate gold recovery methods to direct cyanide leaching, including Glencore Technology's Albion process and Pressure Oxidation will also be evaluated under trade-off analysis scenarios. In parallel with the ongoing metallurgical and engineering studies to advance the Campo Morado Expansion, Luca is working with third-party consultants to update the Campo Morado mine plan to include, amongst other items, updated metal prices, updated ore characterization, optimized metals recovery assumptions, and recent drilling success at the mine. Luca expects to complete a life of mine plan and Mineral Reserve statement in a Technical Report to be prepared in accordance with National Instrument 43-101 in the second half of 2026. As part of the mine plan update, all mineralized deposits at the operation will be evaluated in context of the current metals price environment and the potential benefits of the Campo Morado Expansion. In particular, the high-grade and unmined Reforma and El Rey deposits are expected to be included in the updated mine plan as Mineral Reserves.

Total Shareholder Yield	-7.8%
Future Dividend Yield	n/a
Dividend Growth	n/a
Next dividend pay date	n/a
Ex dividend date	n/a
Dividend per share	n/a
Payout ratio	n/a

Segment	Dividend Yield
Company (LUCA)	n/a
Market Bottom 25% (CA)	1.7%
Market Top 25% (CA)	5.5%
Industry Average (Metals and Mining)	1.4%
Analyst forecast (LUCA) (up to 3 years)	n/a

Data	Last Updated (UTC time)
Company Analysis	2026/05/18 20:52
End of Day Share Price	2026/05/15 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Richard Gray	ATB Cormark
Michael Bandrowski	Beacon Securities Limited
Carey MacRury	Canaccord Genuity

Luca Mining Dividends and Buybacks

Dividend criteria checks 0/6

Key information

Recent dividend and buyback updates

Recent updates

Luca Mining Corp Reports New Assay Results from Ongoing 2026 Drilling Program At Tahuehueto Gold-Silver Mine

Director recently sold CA$350k worth of stock

Director recently sold CA$242k worth of stock

Director recently sold CA$608k worth of stock

Full year 2025 earnings: EPS and revenues exceed analyst expectations

Luca Mining Corp. Announces Executive Changes

Luca Mining Corp Reports New Assay Results from Ongoing Drilling Program At Tahuehueto Gold-Silver Mine in Durango, Mexico

Luca Mining Corp Advances Study to Optimize Campo Morado and Increase Gold and Silver Production

Luca Mining Corp. Announces New Underground Drill Results from its Ongoing Exploration Program at the Campo Morado Polymetallic VMS Mine in Mexico

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Luca Mining Corp. Reports New Drill Results from Its Ongoing Phase 2 Exploration Program At Campo Morado Polymetallic Vms Mine in Guerrero State, Mexico

Luca Mining Corp. Drills 55.8 Metres of 5.90 G/T AuEq at Campo Morado - Confirms Near-Grade High-Grade Mineralization and Expands Exploration Program

Luca Mining's (CVE:LUCA) Returns On Capital Not Reflecting Well On The Business

Less than half of directors are independent

Luca Mining Corp. Reports New Underground and Surface Diamond Drilling Results from Its Ongoing Exploration Programs At the Tahuehueto Gold-Silver Mine in Durango, Mexico

Third quarter 2025 earnings: EPS and revenues miss analyst expectations

Consensus revenue estimates fall by 28%

New major risk - Revenue and earnings growth

No longer forecast to breakeven

Take Care Before Jumping Onto Luca Mining Corp. (CVE:LUCA) Even Though It's 26% Cheaper

Luca Mining Corp. Intersects High-Grade Gold at Reforma, Including 13 Metres of 11.4 Grands Per Tonne Gold Equity

Luca Mining Confirms Full Operational Continuity at Tahuehueto Mine Following Environmental Inspection

Chief Executive Officer exercised options to buy CA$403k worth of stock.

Price target increased by 16% to CA$2.30

Insider recently sold CA$511k worth of stock

Independent Chairman of the Board exercised options to buy CA$322k worth of stock.

Luca Mining Corp., Annual General Meeting, Nov 13, 2025

Luca Mining Corp. (TSXV:LUCA) executed a purchase agreement to acquire Humaya 3 Mining Concession, located adjacent to Tahuehueto Mine in Durango, Mexico from Minera Mexicana La Ciénega, S.A. de C.V. for $0.4 million.

Forecast to breakeven in 2025

Luca Mining Corp. Provides Production Guidance for the Full Year 2025

Second quarter 2025 earnings released

Director recently sold CA$426k worth of stock

Luca Mining Corp. Drills 15 Metres of 5.4 G/T Gold and 8.4% Zinc At Campo Morado

Independent Chairman of the Board recently bought CA$98k worth of stock

Luca Mining Corp. Announces Management Changes

First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind

Luca Mining Corp. Announces Drill Results from the Next Seven Underground Diamond Drill Holes of an Ongoing 5,000 Metre Phase One Exploration Drill Program At the Campo Morado Polymetallic Vms Mine in Mexico

Luca Mining Corp. Announces Analytical Results from the Next Nine Underground Diamond Drill Holes of an Ongoing 5,000 Metre Exploration Drill Program At the Tahuehueto Gold-Silver Mine in Durango State, Mexico

Director recently sold CA$76k worth of stock

Luca Mining Corp.'s (CVE:LUCA) Shares Climb 34% But Its Business Is Yet to Catch Up

Chief Executive Officer exercised options to buy CA$1.8m worth of stock.

Luca Mining Corp. Announces Chief Operating Officer Changes, Effective April 24, 2025

Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

Luca Mining Corp. Provides Production Guidance for the Year 2025

Consensus EPS estimates increase by 86%

The Market Lifts Luca Mining Corp. (CVE:LUCA) Shares 32% But It Can Do More

New major risk - Shareholder dilution

Chief Operating Officer exercised options to buy CA$243k worth of stock.

New major risk - Shareholder dilution

Chief Executive Officer exercised options to buy CA$270k worth of stock.

There's No Escaping Luca Mining Corp.'s (CVE:LUCA) Muted Revenues Despite A 33% Share Price Rise

High number of new directors

Third quarter 2024 earnings released: CA$0.015 loss per share (vs CA$0.033 loss in 3Q 2023)

Luca Mining Corp.'s (CVE:LUCA) Shares Bounce 29% But Its Business Still Trails The Industry

Luca Mining Corp. Provides Update on Campo Morado Improvement Project

Luca Mining Corp., Annual General Meeting, Dec 16, 2024

Luca Mining Corp. announced that it has received CAD 11.306775 million in funding from Term Oil Inc.

Luca Mining Corp. announced that it has received CAD 8.55 million in funding

Benign Growth For Luca Mining Corp. (CVE:LUCA) Underpins Stock's 26% Plummet

Luca Mining Corp. announced that it expects to receive CAD 8.55 million in funding

Second quarter 2024 earnings released: EPS: CA$28.18 (vs CA$0.083 loss in 2Q 2023)

Does Luca Mining (CVE:LUCA) Have A Healthy Balance Sheet?

Luca Mining Corp. Announces Chief Executive Officer Changes

Investors Holding Back On Luca Mining Corp. (CVE:LUCA)

First quarter 2024 earnings released: EPS: CA$0.045 (vs CA$0.036 loss in 1Q 2023)

Luca Mining Corp. Confirms New High-Grade Gold Zones with Significant Mining Widths at the Tahuehueto Gold Mine

Luca Mining Corp. Confirms New High-Grade Gold Zones with Significant Mining Widths At the Tahuehueto Gold Mine

Luca Mining Corp. Reports Metallurgical Test Work for New Copper Concentrate At Campo Morado

Full year 2023 earnings: EPS and revenues miss analyst expectations

A Piece Of The Puzzle Missing From Luca Mining Corp.'s (CVE:LUCA) 27% Share Price Climb

Luca Mining Corp. Reports Significant Improvements At Campo Morado

Luca Mining Corp. Announces Appointment of Mr. Peter Damouni to Its Board of Directors

Luca Mining Corp. announced that it has received CAD 2 million in funding

Third quarter 2023 earnings released: CA$0.033 loss per share (vs CA$0.16 loss in 3Q 2022)

Luca Mining Corp. Announces Executive Changes