VANCOUVER, BC, June 6, 2024
/CNW/ - Luca Mining Corp. ("Luca" or the "Company")
(TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce
it has engaged OGIB Corporate Bulletin ("OGIB") and Native Ads,
Inc. ("Native Ads") in a joint mandate to provide strategic digital
media services.
Under the terms of these agreements, Native Ads and OGIB will
provide a combination of content development, web development,
digital marketing and publication services, media buying and
distribution, and campaign reporting and optimization at a total
cost C$100,000 over a nine-month
period.
Native Ads is a full-service advertising agency based out of
New York and Vancouver, BC, that owns and operates a
proprietary ad exchange with over 80 integrated supply side
platforms resulting in access to three billion to seven billion
daily North American ad impressions. OGIB is a subscription service
based out of Victoria, BC, which
provides research on public companies and is wholly-owned by
Keith Schaefer. To the Company's
knowledge, neither Native Ads nor any of its directors or officers
own any securities of the Company. We are advised that the
principal of OGIB, Mr. Schaefer presently has direct or indirect
ownership of 163,000 common shares in Luca. Both Native Ads and
OGIB are arm's length to the Company. The engagement with Native
Ads and OGIB is subject to the Company's filing requirements with
the TSX Venture Exchange.
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 in Mexico. The Company produces gold, copper, zinc,
silver and lead from these mines that each have considerable
development and resource upside.
The Campo Morado mine, is an
underground operation located in Guerrero
State, a prolific mining region in Mexico. It produces copper/lead and zinc
concentrates with precious metals credits. It is currently
undergoing an optimisation program which is already generating
significant improvements in recoveries and grades, efficiencies,
and cashflows.
The Tahuehueto Gold, Silver Mine is a new underground operation
in Durango State, Mexico, within
the Sierra Madre Mineral Belt which hosts numerous producing and
historic mines along its trend. The Company is commissioning its
mill capacity to 1,000 tonnes per day, and key test work and
production ramp-up is underway, to increase production by 2H
2024.
The Company expects its operations to start generating positive
cash flows in 2024. Luca Mining is focused on growth with the
aim of maximizing shareholder returns.
For more information, please visit: www.lucamining.com
On Behalf of the Board of Directors
(signed) "Ramon Perez"
Ramon Perez, President and
Interim CEO
Cautionary Note Regarding Production Decisions and
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).
Positive operating cash flow is defined as excluding capital,
debt repayment and Trafigura financing.
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,
disclosure regarding the Incentive Program, including the timing,
terms and anticipated used of proceeds from the Incentive Program,
and the receipt of necessary approvals for the Incentive Program;
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 the current exploration,
development, environmental and other objectives concerning the
Campo Morado Mine and the Tahuehueto Project can be achieved; that
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.
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SOURCE Luca Mining Corp.
