LUCKY MINERALS : ANNOUNCES STRATEGIC PARTNERSHIP WITH HUBBARD DRILLING SERVICES AND PRIVATE PLACEMENT

Vancouver, British Columbia January 6, 2022 -Lucky Minerals Inc.(TSXV: LKY, OTC: LKMNF, FRA: LKY) ("Lucky" or the "Company") is pleased to announce it has entered into a strategic partnership with Hubbard Drilling Services, ("Hubbard Drilling") and also announces a non-brokered private placement of up to $2,011,795.

Non-Binding Letter of Intent: Drilling Contract and Shares for Services Agreement

The Company, has received a non-binding letter of intent ("Letter of Intent") for a proposed drilling services contract from the Ecuadorian subsidiary of Hubbard Drilling whereby, subject to TSX Venture Exchange approval, Hubbard Drilling will be paid in shares for the drilling services provided.

Commitments Received: Non-Brokered Private Placement

In addition to the Letter of Intent, the Company announces it has received commitments from individuals, including a strategic partner related to Hubbard Drilling, to enter into non-brokered private placement agreements ("Private Placement") for gross proceeds of up to CDN $ 2,011,795. The private placement will consist of 22,353,278 units of the Company at CDN $0.09 per unit, with each unit consisting of one common share and one full two year common share purchase warrant, exercisable at a price of CDN $0.20 per common share. The Company expects to close in the coming days.

The Company may pay finders' fees on a portion of the proposed Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

This Private Placement is subject to TSX Venture Exchange approval.

The net proceeds of the Private Placement will be used to complete the first drill program on the Company's Fortuna Project in Ecuador and for general working capital purposes.

François Perron President and CEO states "This initiative places Lucky on solid ground ahead of our upcoming drilling program. Our treasury will be bolstered by these additional investors and combined with the shares for drilling services agreement will allow the drilling to continue beyond our initial proposed program of 3,000 metres. Our work in the field continues to advance and we now expect to begin drilling at Wayka in the first quarter of 2022"

ON BEHALF OF THE BOARD

"François Perron"
Chief Executive Officer

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.