Vancouver, British Columbia, October 22, 2026 – TheNewswire – Lucky Minerals Inc. (TSXV: LKY, OTC: LKMNF, FRA: LKY) (“ Lucky ” or the “ Company ”) is pleased to announce a series of strategic amendments that further strengthen and streamline its option to acquire a 100% interest in the Prudhomme Property, a prospective mineral asset located in Northern Quebec, Canada.
The Company has executed two amendment agreements: (i) an amendment effective June 30, 2026 (the “June Amendment”) and (ii) an amendment dated October 8, 2026 (the “ October Amendment ”, and together, the “ Amendments ”), each enhancing clarity and alignment under the arm’s‑length option agreement dated December 18, 2023, as amended (the “ Option Agreement ”). The Option Agreement grants Lucky, subject to certain conditions and a gross metal royalty, an option (the “ Option ”) to acquire a 100% interest in the Prudhomme Property (the “ Property ”).
The June Amendment was entered into by the Company, Yoland Labrie (“ Labrie ” or the “ Assignor ”), Patricia Lafontaine, certain arm’s length claim registrants, Patrick Laforest and Critical Mineral Properties (“ CMP ”). Under the June Amendment, Patricia Lafontaine, arm’s length claim registrants , Patrick Laforest and CMP were each referred to as an “ Optionor ” and collectively the ” Optionors ” or “ Optionors as Vendors ”) whereby (i) the Optionors became parties to, and bound by the terms of the Option Agreement, (ii) the Optionors were the registered holders of a 100% undivided right, title and interest in and to the Property, comprised and adjusted to 109 mineral claims; and (iii) whereby Labrie and Optionors irrevocably assigned to CMP all of their rights, titles and interests in and to the Option Agreement, including all economic benefits thereunder. Accordingly, as of June 30, 2026, CMP (a company owned by Labrie) is the legal and beneficial but not registered holder of a 100% undivided right, title and interest in and to the Property, comprised and adjusted to 109 mineral claims. The June Amendment amended the Option Agreement to provide, among other things, for the following:
(i) accelerate the issue to CMP on the closing date the common shares of the Company having an aggregate deemed value of $350,000 in the form of 3,500,000 common shares of the Company and on twelve (12) months and twenty-four (24) months following the closing date having an aggregate deemed value of $400,000 in the form of common shares (at the floor price of $0.10 per common share) and which shall be calculated based on the 20-day trading average price of the common shares of the Company on the TSX Venture Exchange ending prior to the day on which the respective payment is due, less a discount of twenty percent (20%) (the “ 20-day VWAP ”), in quarterly installments;
(ii) the Option Agreement and the option may be terminated by written notice to the Company if the common shares of the Company become subject to a cease trade order or suspension from trading on any recognized stock exchange for a continuous period in excess of sixty (60) calendar days;
(iii) upon the Company earning and acquiring a 100% interest in the Property pursuant to the Option Agreement, the parties shall enter into a Gross Metal Return royalty agreement (the “ Royalty Agreement ”), the final terms of which remain subject to TSXV final approval; and
(iv) If a Triggering Event (as defined in the June Amendment and below), occurs at any time prior to the Company having earned a 100% interest in the Property, the Company shall:
(A) within fifteen (15) days of such Triggering Event, pay to CMP all amounts payable under the Option Agreement, including, without limitation, those set forth in Section 4.2 of the Option Agreement, and perform and satisfy all other obligations under this Option Agreement to the extent capable of being performed on an accelerated basis or, where not so capable, to use commercially reasonable efforts to cause the same to be performed and satisfied, in each case notwithstanding that the conditions for such payments or obligations may not have been satisfied or that such amounts or obligations would otherwise become due or be required to be performed at a later date; and
(B) pay to CMP, concurrently with the closing of the transaction giving rise to such Triggering Event, an additional amount equal to twenty percent (20%) of the aggregate value of the consideration received or receivable by the Company in connection with such Triggering Event, including, without limitation, any cash, shares, assumption of liabilities or other forms of consideration.
“ Triggering Event ” means the occurrence of any one or more of the following events, in each case prior to the Company having earned a 100% interest in the Property and includes any of the following: (i) a person or group acting jointly or in concert acquiring voting securities of the Company that, combined with securities they already own or control, carry more than 50% of the votes for electing the Company’s directors; (ii) the Company’s shareholders approving a reorganization, merger or consolidation after which the Company’s existing shareholders no longer own at least 50% of the resulting company’s outstanding shares and voting power; (iii) the direct or indirect sale, assignment, transfer or other disposition by the Company of all or substantially all of its rights and interests in and to the Property or under the Option Agreement; or (iv) the sale, assignment, transfer or other disposition, in one or more transactions, of all or substantially all of the assets of the Company. For this purpose, voting securities include the Company shares and any securities convertible into or exchangeable for voting shares, including options and rights to buy them.
The October Amendment, dated as of October 8, 2026 (and effective on the date of TSX Venture Exchange (“ TSXV ”) approval), was entered into by the Company, Labrie, Patricia Lafontaine, arm’s length claim registrants , and CMP to further amend and clarify the Option Agreement and the June Amendment. Following the October Amendment, Patricia Lafontaine, and arm’s length claim registrants are each a “ Claims Registrant ” and collectively the ” Claims Registrants ”. The October Amendment provides clarification, among other things, of the following :
(i) the Claims Registrants are no longer referred to as “ Optionors ” or “ Optionors as Vendors ” under the Option Agreement;
(ii) Fire Gold Resources Inc. and Patricia Lafontaine, no longer have any right, title or interest in or to the Option Agreement or the Option, and are no longer a vendor under the Option Agreement, however, Patricia Lafontaine remains a Claims Registrant;
(iii) Patrick Laforest, a registered, but not beneficial, holder of three (3) mineral claims have been assigned to the Assignor, who is the beneficial owner, effective October 7, 2026. Patrick Laforest holds no interest in the aforesaid three (3) mineral claims (and he remains the current registered holder pending completion of title registration with the Mineral Titles Registry);
(iv) Labrie, as Assignor, and the Claims Registrants irrevocably assign to CMP all of their rights, title and interests in and to the Option Agreement, including all economic benefits thereunder, and CMP assumes that assignment; all payments and share issuances due under the Option Agreement are to be made or issued to CMP;
(v) Labrie is the sole director, officer and ultimate beneficial owner of CMP;
(vi) the Company and the Claims Registrants do not hold, directly or indirectly, any interest in CMP;
(vii) CMP as the Vendor, in its sole discretion, may terminate the Option Agreement, as amended and the Option by written notice to the Company if the common shares of the Company become subject to a cease trade order or suspension from trading on any recognized stock exchange for a continuous period in excess of sixty (60) calendar days;
(viii) the obligations and penalties to keep the Property in good standing set forth in paragraph (e) of Section 6.1 of the Option Agreement (and its reference in section 2.5 of the June Amendment) shall terminate upon completion of the Option (when the Company earns its 100% interest in the Property). If the Company, in its sole discretion, decides to allow legal title to any of the claims comprising the Property to lapse, the Company shall give the Vendor 60 days written notice of its decision, and if requested by the Vendor, shall transfer such claims to the Vendor, the costs of such transfer to be paid for by the Vendor, subject to prior TSXV Exchange acceptance in accordance with TSXV policies, if applicable;
(ix) the obligations and penalties set forth in Section 8.6 of the Option Agreement (and its reference in section 2.7 of the June Amendment) shall terminate upon completion of the Option (when the Company earns its 100% interest in the Property);
(x) clarification that the parties to the Option Agreement, as amended confirm that the replacement Section 4.2 in the June Amendment with reference to the 20-day VWAP provision retains the floor price of $0.10 per share set out in section 4.1 of the amendment agreement dated March 15, 2024, such that the aggregate number of shares issuable in satisfaction of the $750,000 obligation may not exceed 7,500,000 common shares of the Company;
(xi) the Section 8.4 of the Option Agreement pertaining to extracted ounces calculation and Schedule B of the Option Agreement and the June Amendment pertaining to Property description are deleted and replaced with Schedule A, Description of the Property, and Schedule B, Form of Gross Metals Royalty Agreement, attached to the October Amendment;
(xii) the Claims Registrants agreed to relinquish all of their rights, titles and interests in favour of CMP, in respect of the claims of which the Claims Registrants are the registered holder;
(xiii) pending the registration by the Mineral Title Registry, CMP shall hold full beneficial and equitable interest in the Property. The Claims Registrants shall hold their registered interest as bare trustee for the sole benefit of CMP;
(xiv) CMP agrees to perform the obligations of the Vendor under the Option Agreement in respect of such claims; and
(xv) the Company accepts the assignment, and the replacement of the Assignor as the recipient of all economic benefits under the Option Agreement and agrees to make all present and future payments, share issuances, pay the GMR and any other consideration arising under the Option Agreement directly to CMP.
The draft Gross Metals Royalty Agreement will become effective upon exercise of the Option and remains subject to prior TSXV acceptance before execution, with key terms including a 2.0% GMR, a $2,000,000 buy-down right for 1%, and a first-ranking Quebec Deed of Hypothec.
All other terms of the Option Agreement remain unchanged and can be found in the Company’s press releases dated December 20, 2023, February 23, 2024, June 13, 2025, February 10, 2026 and June 9, 2026.
The Company intends to use the proceeds of approximately $3,050,000 from the concurrent Private Placement previously announced, as follows: $191,100 in finder’s fees thereunder, $1,620,000 in G&A and liability obligations, $600,000 in exploration expenses of the Prudhomme property located in Northern Quebec, Canada, and the remaining amount for general working capital. Certain officers of the Company, subscribed for an aggregate 500,000 non-FT Units in such Private Placement. Participation by insiders constitutes a related party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (” MI 61-101 ”). The Company relied upon exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 contained in sections 5.5(a) and 5.7(1)(a), respectively, with respect to the issuance of the non-FT Units to the officers. A further news release will follow on the closing of such Private Placement.
For further details, please refer to the press releases of the Company dated December 20, 2023, February 23, 2024, June 13, 2025, February 10, 2026, June 9, 2026 , and September 8, 2026 available on SEDAR+ at www.sedarplus.ca.
About Lucky Minerals Inc.
Lucky is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits.
ON BEHALF OF THE BOARD
“ Patrick Laforest ”
President, CEO and Chief Operating Officer
Further information on Lucky can be found on the Company’s website at www.luckyminerals.com and at www.sedarplus.ca, or 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 Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements in this news release include, but are not limited to, statements regarding: completion of the Private Placement, the shares for debt transaction, the Prudhomme property acquisition and the Goldmindex disposition; the anticipated use of proceeds of the Private Placement; the Company’s expectation of reinstatement for trading on the TSX Venture Exchange (the “TSXV”); the Company’s ability to satisfy the continued listing requirements of the TSXV; the anticipated improvement of the Company’s financial position and working capital; the completion and timing of required regulatory approvals, including acceptance by the TSXV; and the Company’s future exploration and development plans.
Forward-looking statements are typically identified by words such as “anticipate”, “expect”, “intend”, “plan”, “believe”, “estimate”, “will” and similar expressions, or statements that certain events or conditions “may”, “could”, “would” or “will” occur. These statements are based on a number of assumptions considered reasonable by management at the date such statements are made, including, without limitation: that the Company will be able to complete the Private Placement, the shares for debt transaction, the Prudhomme property acquisition and the Goldmindex disposition on the terms presently contemplated or at all; that the Company will obtain all required regulatory approvals, including TSXV acceptance, in a timely manner; that financing will be available on acceptable terms; and that general business and economic conditions will not change in a materially adverse manner.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: the risk that the transactions described in this news release will not be completed on the terms described or at all; the risk that required regulatory approvals, including TSXV acceptance, will not be obtained; the risk that the Company will not be able to satisfy the continued listing requirements of the TSXV or be reinstated for trading; the risk that the Company’s financial position and working capital may not improve as anticipated; risks related to the Company’s ability to raise additional capital; risks inherent in mineral exploration and development activities; commodity price fluctuations; operational risks; and changes in general economic, market, regulatory and political conditions.
Readers are cautioned that the foregoing list of assumptions and risk factors is not exhaustive. Additional information on these and other risks and uncertainties that could affect the Company’s business, operations and financial results is included in the Company’s continuous disclosure filings available under the Company’s profile on SEDAR+.
Forward-looking statements contained in this news release are made as of the date of this news release and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking statements.
Copyright (c) 2026 TheNewswire – All rights reserved.
