Lucky Announces Closing of Second and Final Tranche of Non-Brokered Private Placement Units

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VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / Lucky Minerals Inc. (TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) ("Lucky" or the "Company") is pleased to announce that, further to its news releases dated August 26, 2021 and September 8, 2021, it has completed the second tranche of its private placement (the "Offering") for gross proceeds of $1,148,000. The second tranche closing consisted of 14,350,000 units (the "Units") at a price of $0.08 per Unit. Each Unit consists of one common share ("Common Share") of the Company and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.15 exercisable until September 16, 2023. The Company has raised a total of $3,875,840 under the two tranches of the Offering.

All of the Common 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.

This Offering has received TSXV conditional approval and remains subject to final TSXV approval.

In connection to the Tranche 2 part of the Offering, the Company paid finder's fees in cash of CDN$13,600 and issued 146,125 compensation warrants (the "Compensation Warrants"). Each Compensation Warrant is exercisable into one Share at $0.15 per share until September 16, 2022.

The net proceeds of the Offering will be used to complete a 3,000 metre drill program on the Company's Fortuna Project in Ecuador and for general working capital purposes.

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 under-explored, gold belt in southern Ecuador.

Covid-19 Safety Protocols

Lucky has strict rules in place for all workers arriving to and from field sites. All personnel are tested upon arriving and leaving and are tested every two weeks. All personnel are housed in separate and private accommodations and are isolated from the community.

ON BEHALF OF THE BOARD

"Francois Perron"
Chief Executive Officer

Further information on Lucky can be found on the Company's website at www.luckyminerals.com and at www.sedar.com, or by contacting Francois Perron, President and CEO, by email at [e-mail] or by telephone at [phone].