Lucky Minerals Inc. Strengthens Prudhomme Property Option Agreement Through Strategic Amendments

Vancouver, British Columbia — October 22, 2026 — Leads & Copy — Lucky Minerals Inc. (TSXV: LKY, OTC: LKMNF, FRA: LKY) has announced significant amendments to its option agreement for the Prudhomme Property in Northern Quebec, Canada, aimed at enhancing clarity and strengthening its path to acquiring a 100% interest in the prospective mineral asset. The amendments, comprising a June 30, 2026, agreement and an October 8, 2026, agreement, refine the terms of the original option agreement dated December 18, 2023.

Under the June Amendment, critical changes were made regarding the parties involved and the structure of share issuances. Patricia Lafontaine, arm’s length claim registrants, Patrick Laforest, and Critical Mineral Properties (CMP) were recognized as “Optionors.” CMP, a company owned by Yoland Labrie, became the legal and beneficial holder of the 100% interest in the 109 mineral claims comprising the property, following an irrevocable assignment from Labrie and the Optionors. The June Amendment also accelerates the issuance of company shares to CMP, with $350,000 worth of shares to be issued at closing and an additional $400,000 in shares to be issued over the subsequent twelve and twenty-four months. These future installments are to be calculated based on the 20-day volume-weighted average price (VWAP) on the TSX Venture Exchange, less a 20% discount, with a floor price of $0.10 per share. The agreement includes a provision for termination if the company's shares are subject to a cease trade order or suspension for over 60 days. Upon acquiring a 100% interest, a Gross Metal Royalty (GMR) agreement will be entered into, subject to TSXV approval. Furthermore, a “Triggering Event,” defined as a change of control, shareholder approval of a reorganization where existing shareholders no longer hold at least 50% of the resulting company, or the disposition of substantially all of the company's assets or its interest in the property, necessitates accelerated payments and an additional 20% value consideration to CMP.

The October Amendment further clarifies the roles and interests of the parties. The Claims Registrants (formerly Patricia Lafontaine and arm’s length claim registrants) are no longer referred to as “Optionors.” Fire Gold Resources Inc. and Patricia Lafontaine have relinquished their rights and interests in the Option Agreement, though Lafontaine remains a Claims Registrant. Patrick Laforest has assigned his three mineral claims to the Assignor (Labrie), holding no further interest in them. All rights, titles, and interests in the Option Agreement, along with associated economic benefits, are irrevocably assigned to CMP by Labrie and the Claims Registrants, with CMP assuming this assignment. All payments and share issuances are to be made directly to CMP. Yoland Labrie is identified as the sole director, officer, and ultimate beneficial owner of CMP, with neither the company nor the Claims Registrants holding any interest in CMP.

CMP, as the Vendor, retains the discretion to terminate the agreement if the company's shares face a cease trade order or suspension for over 60 days. Obligations regarding keeping the property in good standing and penalties outlined in specific sections of the Option Agreement will terminate upon the company earning its 100% interest. If the company decides to let legal title to any claims lapse, it must provide the Vendor 60 days' written notice and transfer such claims to the Vendor upon request, with the Vendor covering transfer costs, subject to TSXV acceptance. A clarification confirms that the 20-day VWAP provision in the June Amendment retains the $0.10 floor price, capping the total shares issuable for the $750,000 obligation at 7,500,000. Sections related to extracted ounces calculation and property description have been replaced with new schedules. The Claims Registrants have relinquished their rights in favor of CMP, who will hold beneficial and equitable interest in the property pending registration, with the Claims Registrants acting as bare trustees. CMP will fulfill the Vendor's obligations concerning these claims, and Lucky Minerals accepts the assignment, agreeing to make all payments and issue shares directly to CMP.

The draft Gross Metals Royalty Agreement, to be effective upon option exercise and subject to TSXV acceptance, outlines a 2.0% GMR with a $2,000,000 buy-down right for 1% and a first-ranking Quebec Deed of Hypothec. Other terms of the original Option Agreement remain unchanged. The Company plans to utilize approximately $3,050,000 from a concurrent private placement for finder's fees, general and administrative expenses, liability obligations, exploration expenses for the Prudhomme property, and general working capital. Insider participation in the private placement constitutes a related party transaction, for which exemptions under MI 61-101 have been relied upon.

Source: Lucky Minerals Inc.