Lucky Announces Issuance of Shares for Services Performed

VANCOUVER, October 31, 2022 - Lucky Minerals Inc. (TSXV:LKY, OTC PINK:LKMNF, FRA:LKY) Lucky" or the "Company"). Lucky announces that further to its news releases dated September 12, 2022, July 22, 2022 and May 27, 2022, the Company will be issuing additional shares to Franklin Vinicio Viera Ramos pursuant to the services agreement (the "Agreement") which has received approval from the TSX Venture Exchange.

The Company will issue 133,891 common shares of the Company for the services provided pursuant to the Agreement, and are issued in partial consideration for technical and other consulting services provided to the Company by Mr. Viera Ramos during the months of June 2022 and August 2022. The common shares are issued at a deemed prices per share of $0.057.

Any common shares issued to Mr. Viera Ramos are subject to a hold period expiring March 1, 2023 in accordance with Canadian securities laws.

Franklin Vinicio Viera Ramos
As announced in the May 27, 2022 news release, Mr. Viera provides services to the Company as a technical consultant for the drilling phase of the Company's Ecuador property. Services provided include 3D modeling, GIS, drill hole planning, geochemical analysis, core logging, field geological mapping property evaluation, database management and occasional field program supervision and other duties that may be required by the Company.

Mr. Viera is a well known geologist in Ecuador and has been involved in many significant projects including the discovery of Quimsacocha which is now called the Loma Larga project.

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 investors@luckyminerals.com or by telephone at (866) 924 6484.

Or by contacting:
Renmark Financial Communications Inc.
Kerry Schacter: kschacter@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
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.