Lucky Minerals Announces Up to CDN $500,000 Non-Brokered Private Placement

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VANCOUVER, BC / ACCESSWIRE / May 2, 2023 / Lucky Minerals Inc. (TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) ("Lucky" or the "Company") announces a non-brokered private placement (the "Offering") consisting of up to 10,000,000 units (the "Units") at a price of CDN $0.05 per Unit for gross proceeds of up to approximately CDN $500,000.

Each Unit of the Offering is comprised of one common share (a "Share") and one full four-year non-transferable common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional Share at a price of CDN $0.05 per Share, until the date that is 48 months from the closing (the "Closing") of the Offering. All the Shares and Warrants issued in connection to the Offering are subject to a statutory hold period expiring four months and one day from the date of issuance.

Investors in the Offering may include the participation of certain directors, officers and insiders of the Company which constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101as neither the fair marketvalue of the Units to be acquired by the insiders, nor the consideration for the Units to be paid by such insiders, will exceed 25% of the Company's market capitalization.

The Company may pay finder's fees on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

This Offering is subject to TSX Venture Exchange Approval.

The net proceeds of the Offering will be used to continue the drill program on the Company's Fortuna Project in Ecuador and for general working capital purposes.

ON BEHALF OF THE BOARD

"François Perron"
Chief Executive Officer

About Lucky

Lucky is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits. Lucky owns a 100% interest in the Fortuna Property.

The Company's Fortuna Project is comprised of twelve contiguous, 550 km² (55,000 Hectares, or 136,000 Acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.