Lucky Announces Non-Brokered Private Placement

Vancouver, British Columbia, January 20, 2020 – Lucky Minerals Inc. (“Lucky” or the “Company”) announces that it is proceeding with a non-brokered private placement of units (the “Offering”) for proceeds of up to $500,000.

Lucky CEO, Adrian Rothwell, stated “This is the next step to launch Lucky as an active company with a focused team and to advance our Fortuna gold and copper project.”

Pursuant to the placement of units, Lucky is offering a maximum of 25,000,000 units at a price of $0.02 per unit, for a maximum of $500,000. Each unit consists of one common share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one common share at a price of $0.05 per common share for a period of 24 months after the closing.

The Offering is open to all existing shareholders of Lucky in accordance with “Regulation 45-513 Respecting Prospectus Exemption for Distribution to Existing Security Holders” and other various corresponding blanket orders and rules of other Canadian jurisdictions that have adopted a similar exemption (collectively the “Holders’ Exemption"), and also to accredited investors and family, friends and business associates.

Existing shareholders of the Company interested in participating in the Offering will receive preference over new subscribers. They should contact Lucky using the contact information set out below as soon as possible as the Offering shall be allocated on a "first come, first served" basis until the Offering is fully subscribed. The Offering is not subject to any minimum subscription. The Company may close the Offering in several tranches, the first of which it intends to close around January 31, 2020.

The Company will use the proceeds of the Offering to advance the Company’s Fortuna property in Ecuador and for purposes of working capital and preservation of existing operations.

The Company has set January 17, 2020 as the record date (the "Record Date") for the purpose of determining existing shareholders of Lucky entitled to participate in the Offering pursuant to the Holders’ Exemption. Any shareholder purchasing under the Holders’ Exemption will have to represent in writing that he held common shares of the Company as of the Record Date and continues to hold them. Also, the aggregate acquisition cost to a subscriber under the Holders’ Exemption cannot exceed $15,000, unless that subscriber has obtained advice regarding the suitability of the Offering and, if the subscriber is resident in a jurisdiction of Canada, such advice is obtained from a person that is registered as an investment dealer in the subscriber's jurisdiction.

The Transaction is subject to TSX Venture Exchange approval.

All of the Common Shares and Warrants of the Company issuable in connection with the Offering will be subject to a four month hold period. The Company may pay finders' fees of cash and/or securities on a portion of the Private Placement.

About Lucky

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 and Emigrant Projects. 

The Company’s Fortuna Project is a royalty-free 550km2 (55,000 Ha, or 136,000 Acres) exploration concession. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.

The Emigrant Creek Project covers a 15 km2 area in an intensely altered and mineralized porphyry copper-gold-molybdenum system in southern Montana. 

ON BEHALF OF THE BOARD

“Adrian Rothwell”

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 Adrian Rothwell, President and CEO, by email at [email protected] or by telephone at (866) 924 6484. 

Neither the 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.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any Lucky common shares in the United States.

Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company’s forward-looking information. Important factors that could cause actual results to differ materially from the Company’s expectations also include risks detailed from time to time in the filings made by the Company with securities regulations. 

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.