Lucky Minerals Amends Agreement for Prudhomme Property Option

Lucky Minerals Inc., a company with operations in Northern Quebec, Canada, has announced a series of strategic amendments to its option agreement aimed at further strengthening its position to acquire a 100% interest in the Prudhomme Property. The amendments, effective June 30, 2026, and October 8, 2026, respectively, are part of an ongoing effort to clarify and align the terms of the agreement.

The June Amendment, effective June 30, 2026, involved the assignment of rights and interests in the Prudhomme Property. Patricia Lafontaine, along with arm’s length claim registrants, Patrick Laforest, and Critical Mineral Properties (CMP), became parties to the option agreement. Labrie, the Assignor, and the Optionors irrevocably assigned all their rights, titles, and interests in and to the Option Agreement to CMP, making CMP 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.

Under the June Amendment, CMP is to receive common shares of Lucky Minerals Inc. with an aggregate deemed value of $350,000 on the closing date, in the form of 3,500,000 common shares. Additionally, CMP will receive shares with an aggregate deemed value of $400,000, calculated based on the 20-day trading average price of the common shares of the Company on the TSX Venture Exchange, less a discount of twenty percent (20%), in quarterly installments over twelve and twenty-four months following the closing date.

The October Amendment, effective on the date of TSX Venture Exchange approval, further clarified the terms of the Option Agreement. It confirmed that Patricia Lafontaine and the arm’s length claim registrants are no longer referred to as “Optionors” or “Optionors as Vendors” under the Option Agreement. Labrie, as Assignor, and the Claims Registrants irrevocably assigned all their rights, titles, and interests in and to the Option Agreement to CMP, with CMP assuming the assignment. Labrie, as the sole director, officer, and ultimate beneficial owner of CMP, retains control over the terms of the agreement.

The October Amendment also provided that CMP, as the Vendor, may terminate the Option Agreement if the common shares of Lucky Minerals Inc. 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. 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, will terminate upon completion of the Option when Lucky Minerals Inc. earns its 100% interest in the Property.

The draft Gross Metals Royalty Agreement, which will become effective upon exercise of the Option, remains subject to prior TSXV acceptance before execution. Key terms include a 2.0% Gross Metal Return royalty, 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.

Lucky Minerals Inc. intends to use the proceeds of approximately $3,050,000 from a concurrent private placement to fund exploration expenses of the Prudhomme property, general working capital, and other necessary expenses. The private placement included the subscription of 500,000 non-FT Units by certain officers of the company, constituting a related party transaction as defined under Multilateral Instrument 61-101. The company relied on exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 for the issuance of the non-FT Units to the officers.