Slide 1: Optimization Exploration Expansion
February 2026 TSX-V: LUCA | OTCQX: LUCMF | FRANKFURT: Z68 | L U C A LMUI CNAI MN IGN .I C NGO .MC O M 1 Optimization Exploration Expansion
Slide 2: Forward Looking Statements
LUCAMINING.COM 2 Canadian regulatory agencies and available at www.sedarplus.ca. The Company Company’s anticipated future business operations. The Company disclaims any FORWARD LOOKING STATEMENTS believes that the expectations reflected in Forward-Looking Information in this Corporate Presentation a
Slide 3: Mexico Mining Experts
LUCAMINING.COM 3 MEXICO MINING EXPERTS Some of the largest mining companies in the world Mining in Mexico surround us in Mexico We know Mexico - and our experienced management team and our knowledge of the Mexican mining landscape give us a competitive advantage 3
Slide 4: Our Metal Breakdown
LUCAMINING.COM 4 OUR METAL BREAKDOWN 2025 Revenue 18% COPPER ~60/40 Precious and Base metals 4
Slide 5: The Luca Story
LUCAMINING.COM 5 The Luca Story TAHUEHUETO 2 Fully permitted operating mines in DE-RISKED OPERATIONS Fully permitted No further major capex required FREE CASH FLOW 2025 ESTIMATE Beat Revised Guidance of $5 to $10 million Dec 31: Increased cash to US$25.5 million from US$15.9M at Sept 30 Mexico produ
Slide 6: Financial turnaround
LUCAMINING.COM 6 Financial turnaround Debt materially reduced and liquidity rebuilt to support growth Debt Reduction Liquidity Improvement Balance Sheet Reset From $31M to ~$2M ⇧ Cash increased to ~$26M ✓ Net cash position achieved $30 300 $25 250 What This Enables $20 200 ✓ Removes need for Shares
Slide 7: Our Plan
LUCAMINING.COM 7 Our Plan Strong track record of execution backstops our future ambitions Continue exploration Evaluate M&A Dan Barnholden First drillhole at Commercial Full repayment CME construction Tahuehueto stream joins as CEO Tahuehueto in >10 Buy back of production at of bank debt decision te
Slide 8: Three-year Exploration Program
LUCAMINING.COM 8 Three-year Exploration Program to Unlock Gold Potential at both mines US$25M Budget 38 Priority Targets at Supports 80,000 metres of Campo Morado surface and underground drilling Coincident gravity geophysical and soil Exploration is fully- at Campo Morado and anomalies have never b
Slide 9: What this Means
LUCAMINING.COM 9 What this Means Our mines are permitted, Our mines have Luca is heading towards re-ranking in production and development and resource as a mid-tier producer generating cash flow – upside and optimization at our foundation on which to both projects is ongoing grow Clean balance sheet
Slide 10: Skills we bring to de-risk M&A
LUCAMINING.COM 10 Skills we bring to de-risk M&A To grow as a premier Mexico focused mining company Financial Operations Luca has the expertise to restructure Luca has turned around Campo Morado, and recapitalize on accretive terms increasing throughput to 2,000tpd, achieved All opportunities are ✓
Slide 11: Campo Morado
LUCAMINING.COM 11 GLOBAL M&I GOLD ZINC COPPER SILVER LEAD 16.6 Mt M&I 700 Koz M&I 1.2 Blbs M&I 0.2 Blbs M&I 62 Moz M&I 0.3 Blbs M&I CAMPO Location Guerrero State 121 sq km Processing 2,400 tpd throughput capacity (crushing, milling, flotation) MORADO Ownership 100% 2025E Production Achieved Revised
Slide 12: Redefining Campo Morado
LU LUCC AMAM I NI N I NI N GG. C. C OOMM 1212 Redefining campo morado Transitioning from zinc-focused operations to a higher-margin precious metals platform 1 Initial design (2009) 2 Current design 3 CME Phase 1 4 CME Phase 2 • High-grade zinc mine utilizing sequential • Sequential flotation and 15
Slide 13: Recent drilling success
LUCAMINING.COM 13 Recent drilling success Un-mined Deposits Higher Precious Metals Grades First drilling in >10 years July 7, 2025: First Surface Drill Result at Reforma 15.1 metres of 13.4 g/t AuEq (5.35 g/t Au, 187.48 g/t Ag, 0.31% Cu, 8.39% Zn, 2.75% Pb) Aug 27, 2025: Additional Drill Results at
Slide 14: Reforma – The future of Campo Morado
LUCAMINING.COM 14 Reforma – The future of campo morado • Current Mining Areas: Southwest, G9 Zones, El Largo • Large stopes 40m wide, productive, low-cost mining • Current mining cost: $41/t • Starting in 2028: Reforma and El Rey Zones will be primary source of ore feed • More efficient mining metho
Slide 15: Exploration upside at Campo Morado
L U CC A AMM II N N II NN GG .. CC OOM M 15 12 Main Declines, Development exploration upside G9, Naranjo and Largo Ore Bodies at Campo morado • Well-defined, drilled and developed ore bodies • Expand gold and silver-rich Mineral Resources • 38 exploration targets • >12,000-hectare mining concession
Slide 16: Tahuehueto
LUCAMINING.COM 16 GLOBAL M&I GOLD ZINC COPPER SILVER LEAD 6.3 Mt M&I 425 Koz M&I 273 Mlbs M&I 36 Mlbs M&I 9 Moz M&I 123 Mlbs M&I Tahuehueto Location Durango State 100 sq km Processing 1,200 tpd throughput capacity (crushing, milling, flotation) Ownership 100% 2025E Full Year Achieved Revised Guidanc
Slide 17: Tahuehueto
LUCAMINING.COM 17 District Scale Potential – 100 km2 – Tahuehueto 18 Veins Mapped on LEVEL 12 & 14 PORTALS Property LEVEL 20 PORTAL CRUSHING CIRCUIT MINE CAMP PROCESS PLANT 17
Slide 18: Transformative exploration potential at Tahuehueto
LUCAMINING.COM 18 Transformative exploration potential at tahuehueto CONNECTING CRESTON/EL PERDIDO TO SANTIAGO Drilling is underway to investigate the highly prospective gap between El Perdido and Santiago with two active rigs Zones are open along strike and to depth EARLY RESULTS CONFIRM GROWTH POT
Slide 19: Luca corporate stats
LUCAMINING.COM 19 2.50 Luca corporate stats 2.00 PRICE CHART 1.50 One Year LUCA LUCMF Z68 1.00 TSXV OTCQX Frankfurt 0.50 Shares 269 million Outstanding 0.00 Fully Diluted 290 million Market Cap C$503 million (C$1.87/share) (Feb 26, 2026) ANALYSTS 52 Week C$2.16 high Haywood Buy C$4.50 C$0.99 low SHA
Slide 20: A strong Board of directors
LUCAMINING.COM 20 A strong Board of directors Mine builders | Opportunity driven Phil Brumit DIRECTOR Peter Damouni CHAIRMAN, DIRECTOR Mr. Brumit is a mining executive with over 40 years of experience in Over 20 years of corporate and investment banking experience with a property evaluation, enginee
Slide 21: A strong Management Team
LUCAMINING.COM 21 A strong MANAGEMENT TEAM Effective Execution Dan Barnholden, CEO Dan Barnholden is a seasoned professional with over 20 years of experience in senior mining investment banking roles at bank-owned Ramon Mendoza M.Sc., P.Eng. COO & CTO and boutique dealers in Toronto and Vancouver .
Slide 22: What's next
LUCAMINING.COM 22 What’s next We see a near-term With significant And longer term valuation re-rating additional upside growth ahead The Campo Morado Production upside at both mines M&A growth copper/zinc/gold/silver mine has Targeting doubling production in the Targeting mid-tier ranking with under
Slide 23: Thank You
LUCAMINING.COM 23 Thank You LUCAMINING.COM TSX-V: LUCA OTCQX: LUCMF FRANKFURT: Z68
Slide 24: Appendix
LUCAMINING.COM 24 APPENDIX 24
Slide 25: Campo Morado Resources
LUCAMINING.COM 25 Campo Morado Resources RESOURCES (NI 43-101 Compliant, March 2018) 25
Slide 26: Tahuehueto resources
LUCAMINING.COM 26 Tahuehueto resources RESERVES & RESOURCES (NI 43-101 Compliant, April 2022) 26