Lucky Minerals Receives New Assays for Macuche and Trench Samples Assay 0.33 G/T Gold Over 20.0 Meters

VANCOUVER, June 24, 2021 - Lucky Minerals Inc. (TSXV:LKY), (OTC PINK:LKMNF), (FRA:LKY) ('Lucky' or the 'Company') is pleased to announce it has received new assays for Macuche. A 20-meter-long hand dug trench returned an average of 0.33 g/t gold from systematic 1.0 m x 0.50 m panel samples. This work is focused within its 100% owned Fortuna Property ('Fortuna'). Fortuna comprises approximately 55,000 hectares in a known mineralized district in southern Ecuador.

Lucky's CEO, François Perron stated: 'Our recent field work at Macuche was a follow up on an area that had gold values of interest which we have previously announced. The goal was to understand the continuity of the stockwork system. These results indicate that the stockwork system is pervasive over 20 metres and the potential for bulk tonnage is very real. The mineralization in the trench remains open both to the east and to the west. More work needs to be done in the area to understand both the scale and controls of the veining. Local prospecting will be undertaken in order to follow up on some historical artisanal pits that have been located nearby.'

Macuche Update

Lucky's exploration team has continued with geological mapping and sampling at Macuche. A total of 20 rock sample assays have been received from ALS Chemex Labs. These samples were taken from a 20-meter-long hand dug trench in altered schists with stockwork quartz-hematite-tourmaline veinlets. The stockwork veining remains open at both ends of the trench.

A total of 20 systematic samples were taken (Panels 1.0 m x 0.50 m each) and returned an average of 0.33 g/t gold. Please see the geology map and sample table below:

For a larger image of the map please click here and for a larger image of the sample table please click here.

Macuche Trench Geology and Sample Location Map

Macuche Trench sample Intervals and Gold grade

As this is an area at an early exploration stage, geological work will continue to better identify the extent of this mineralized area at surface. Prospecting work will include geological mapping to determine rock and alteration types. There are presently more than 18 samples, some coming from historical artisanal pits that are approximately 250 m from the Macuche trench. These assays are pending and are expected in the coming weeks.

At this time, mineralization at Macuche has been observed to be related to quartz-pyrite (hematite) stockwork type veinlets in a strongly altered (sericitic) rock.

QA/QC Protocols

All exploration work is completed following QA/QC protocols and include the insertion of a coarse blank, a standard and duplicate sample on every batch of 25 samples.

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 Ha, or 136,000 Acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.

Covid-19 Safety Protocols

Lucky Minerals 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.

Qualified Person:

Victor Jaramillo, M.Sc.A., P.Geo., Lucky's Exploration Manager and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Fortuna Project for Lucky Minerals and has reviewed and approved the technical information contained in this news release.

ON BEHALF OF THE BOARD

'François 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 François Perron, President and CEO, by email at investors@luckyminerals.com 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 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 update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

SOURCE: Lucky Minerals Inc.