Lucky Minerals Expands Mineralization at Surface 700 metres to the North of Trench T-6 with up to 1.21 g/t gold over 10 metres in Trench T-12

VANCOUVER, October 25, 2021 - Lucky Minerals Inc. (TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) ("Lucky" or the "Company") is pleased to announce it has received sample assay results from its ongoing work at the Wayka epithermal gold discovery at its 100% owned Fortuna Property ("Fortuna") in southern Ecuador. Work in the field is advancing on several fronts with current focus on trench T-14.

Results have now been reported for trenches T-10, T-11 and T-12. Trench T-10 lies in the central area approximately 80 metres from trench T-6 in which results included 17 g/t gold over 3 metres. Trench T-11, which also lies in the central area, is approximately 20 metres from trench T-10. Trench T-12 is located in the northern area and is approximately 700 metres north of trenches T-5 and T-6.

Trench Location Map

Trenching highlights

Trench T-10 averages 2.81 g/t gold over 2 metres
Trench T-10 lies in the central area approximately 80 metres from trench T-6 in which results included 17 g/t gold over 3 metres.

Trench T-11 averages 1.12 g/t gold over 2 metres
Trench T-11 was started approximately 75 metres to the southeast of the previously reported trench T-6 (please see July 30, 2021 News Release). Mineralization appears to be hosted in altered volcanic rocks.

Trench T-12 averages 1.21 g/t gold over 10 metres
Trench T-12 was dug approximately 700 metres north of trench T-5. Mineralization in this area is mainly of sericite-quartz type in contrast to that of mainly strong silicification found in the central area (T-5 and T-6).

Trenches T-10, T-11 and T-12 are open in both directions and will be further investigated as part of future trenching efforts.

François Perron President and CEO states "The results from Wayka are expanding the footprint of the mineralized intervals. We are finding multiple areas of alteration with mineralization and their related feeders. The system's full extent has yet to be established and work in the field continues. Our understanding of the mineralization is still in the early stages and will continue to improve over the coming weeks as more work is completed at surface. In addition to the current trenching, we have mobilized crews to complete a detailed soil sampling program which will be combined with geophysics to refine our targeting and drilling which is expected in the coming months."

Fortuna - Next Steps

Wayka

Exploration teams are focused on trenching, soil sampling and a mag survey. This work will be followed by a detailed compilation of all geologic data which will subsequently lead to scout drilling in the coming months.

Trenching Results

Trench T-10:

Trench T-11:

Trench T-12

*breccia interval

QA/QC Protocols

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

Samples are being submitted approximately every two weeks to ALS Chemex Labs in Quito for preparation work, and the analytical work is completed at their lab facility in Lima, Peru. ALS Chemex is an ISO certified and accredited laboratory. Results will be released as they are received.

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.

Covid-19 Safety Protocols

The company has put strict COVID protocols in place for all visitors, service providers and personnel arriving to and from field sites. All personnel are tested upon arriving and leaving and are again tested every two weeks. All personnel are following COVID protocols with permanent disinfection procedures in place and are following correspondent social distancing while being isolated from the surrounding communities.

Qualified Person

Victor Jaramillo, M.Sc.A., P.Geo., Lucky's Vice President Exploration 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.

Or by contacting:

Renmark Financial Communications Inc.
Daniel Gordon: dgordon@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

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.

SOURCE: Lucky Minerals Inc.