LUCKY MINERALS INC. ANNOUNCES CLOSING OF C$2,875,000 BOUGHT DEAL

LUCKY MINERALS INC. ANNOUNCES CLOSING OF C$2,875,000 BOUGHT DEAL

Vancouver, Canada – October 4, 2018 – Lucky Minerals Inc. (TSXV: LKY) (the “Company”) announces that it has completed the bought deal offering of units of the Company (the “Units”) underwritten by Clarus Securities Inc. (the “Underwriter”), previously announced in the Company’s press release dated August 20, 2018, for aggregate gross proceeds of C$2,500,000 (the “Offering”). The Underwriter also exercised the over-allotment option in full and purchased an additional 375 Units to cover over-allotments, for additional gross proceeds to the Company of C$375,000 resulting in total gross proceeds of C$2,875,000 for the Offering.

Each Unit issued pursuant to the Offering consists of: (i) $1,000 principal amount of 12% three year convertible unsecured unsubordinated debentures (each, a “Debenture”) and convertible at a price of $0.15 per common share; and (ii) 2,500 common share purchase warrants of the Company (the “Warrants”). Each Warrant entitles the holder thereof to purchase one common share in the capital of the Company at an exercise price of $0.22 for a period of 24 months following the closing date.

The net proceeds of the Offering are expected to be used by the Company towards its Emigrant Creek Project, Fortuna Project, general corporate purposes and as general working capital.

More information about the Units and the Offering can be found in the short form prospectus of the Company dated September 25, 2018, that qualified the Units for distribution in the provinces of British Columbia, Alberta, Ontario and Manitoba.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of Lucky Minerals Inc. in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available.

About Lucky Minerals

Lucky Minerals is a venture stage exploration company that is targeting a large-scale porphyry coppergold-molybdenum system in southern Montana that could potentially host a multi-million ounce gold deposit. The company is focused on its Emigrant Creek Project, which covers a 15 square kilometer area (6 square miles) located in the core of the mineralized and intensely altered Emigrant Mining District. To date, ten highly mineralized breccia-pipes and two porphyry targets exist within the company’s property boundary. These targets have been variously explored by drilling, induced polarization geophysical surveys, rock chip sampling and geologic & alteration mapping. The company’s properties are comprised of nine patented claims and eight unpatented claims, with an additional 117 claims staked, covering a total area of approximately 1,035 hectares (2,530 acres). Lucky Minerals resumed exploration in July, 2017 and 2 LEGAL_29870482.1 has slated numerous activities to commence over the summer and into the fall, including further diamond drilling, geophysical work, geological mapping and ongoing sampling.

Furthermore, the Company has entered into a definitive agreement with Monterra Resources S.A. a private company from Panama for the acquisition of all of the issued and outstanding shares of Goldmindex S.A, a private Ecuadorian company that holds rights to the twelve mining claims comprising the Fortuna Property. The Company has received final approval from the TSX Venture Exchange on the contemplated transaction and intends to close it in the coming weeks.

Additional information relating to the Company is also available on SEDAR at www.sedar.com .

Contact Information

Robert Rosner
Chief Financial Officer
Lucky Minerals Inc.
info@luckyminerals.com

Forward-looking Statements This press release contains certain forward-looking statements within the meaning of applicable securities laws, including statements regarding the Offering. Words such as “expects”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Lucky Minerals’s current projections and expectations about future events and other factors management believes are appropriate. Although Lucky Minerals believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that the Offering and the closing thereof will be consistent with these forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond Lucky Minerals’s control. Additional risks and uncertainties regarding Lucky Minerals are described in its publicly-available disclosure documents, filed by Lucky Minerals on SEDAR (www.sedar.com) except as updated herein. The forward-looking statements contained in this news release represent Lucky Minerals’ expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Lucky Minerals undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.