Mr. Francois Perron reports

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

Lucky Minerals Inc. has closed the non-brokered private placement announced on May 2, 2023, pursuant to which the company issued an aggregate of 1.08 million units at a price of five cents per unit for total gross proceeds of $54,000. Each unit consists of one common share in the capital of the company and one non-transferable common share purchase warrant. Each warrant is exercisable to acquire one share at an exercise price of five cents 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). 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 exceeds 25 per cent of the company's market capitalization.

All the securities issued in connection with the offering are subject to a statutory hold period expiring four months and one day from the date of issuance, and the offering is subject to final acceptance by the TSX Venture Exchange. The company did not pay finders' fees in connection with this offering.

The company intends to use the proceeds from the offering for general working capital purposes.

In addition, the company announces the resignation of Jeannine Webb, who has served as chief financial officer for the company since 2020. The company has appointed Robert Rosner, a long-time member of its board of directors and former chief executive officer, as interim chief financial officer. The company would like to thank Ms. Webb for her exemplary service and commitment to the company, and wish her every success in her future endeavours.

About Lucky Minerals Inc.

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

The company's Fortuna project is composed of 12 contiguous, 550-square-kilometre (55,000 hectares or 136,000 acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.

We seek Safe Harbor.