LUCKY MINERALS CLOSES NON-BROKERED PRIVATE PLACEMENT AND ANNOUNCES RESIGNATION OF CHIEF FINANCIAL OFFICER

Vancouver, British Columbia, June 19, 2023 – Lucky Minerals Inc. (TSXV:LKY, OTC:LKMNF, FRA:LKY) (“Lucky” or the “Company”) announces the closing of the non-brokered private placement (the "Offering") announced on May 2, 2023, pursuant to which the Company issued an aggregate of 1,080,000 units (the "Units") at a price of $0.05 per Unit for total gross proceeds of $54,000. Each Unit consists of one common share in the capital of the Company (a “Share”) and one non-transferable common share purchase warrant (a “Warrant”). Each Warrant is exercisable to acquire one Share at an exercise price of $0.05 per Share until June 19, 2027. 

Insiders of the Company acquired an aggregate of 780,000 Units in the Offering, which participation constituted 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 61-101 as neither the fair market value of the Units acquired by the insiders, nor the consideration for the Units paid by such insiders, exceed 25% of the Company's market capitalization. The Company will pay no finder's fees in connection with this Offering.

This Offering is subject to TSX Venture Exchange Approval.   

The Company intends to use the proceeds from the Offering for general working capital purposes. 

In addition, the Company announces the resignation of Ms. Jeannine Webb, who has served as Chief Financial Officer (“CFO”) for the Company since 2020, and the appointment of Robert Rosner, Director as Interim CFO.  The Company thanks Ms. Webb for her exemplary service and commitment to the Company and wishes her every success in her future endeavours.    

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.  

Further information on Lucky can be found on the Company’s website at www.luckyminerals.com and at www.sedar.com, or by contacting François Perron, 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.

 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 to 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 regulators.  

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 not update or revise publicly any of the included forward-looking statements unless required by Canadian securities law.