Lucky Minerals Unveils Major Corporate Restructuring and Strategic Updates

Lucky Minerals Inc. (TSXV:LKY) has announced significant corporate updates, including key changes to its board and management, amendments to the Prud'homme property option agreement, and a change in its auditor. These actions are part of the company's ongoing restructuring and reinstatement efforts, aiming to strengthen its operational and financial standing.

Leadership Shake-Up and New Appointments

Lucky Minerals is undergoing a significant leadership transition as part of its restructuring. Francois Perron has resigned from his roles as President, CEO, and interim Chairman, though he will continue to serve as an independent director.

New appointments to the leadership team include:

• Patrick Laforest: Appointed as Chief Operating Officer, President, and director. Laforest brings nearly 15 years of experience as an exploration and production geologist, with expertise in base metals, battery metals, and precious metals. He also holds an MBA from Laval University.
• Mario Bouchard: Appointed as an independent director. Bouchard has a distinguished 42-year career in the government of Québec, including roles as Assistant Deputy Minister for Strategic Industries and Major Economic Projects, and Associate Deputy Minister of Energy. He was instrumental in major business financing initiatives and the development of key economic sectors in Quebec.

Prud'homme Property Option Agreement Amended

Lucky Minerals has entered into an amending agreement for its option to acquire a 100% interest in the Prud'homme property. The key amendments to the agreement with Fire Gold Resources Inc. and Patricia Lafontaine include:

• Extended Outside Date: The deadline for a $50,000 option payment has been extended to June 30, 2025.
• Share Price Floor: A floor price of $0.10 per post-consolidated common share has been set for property shares consideration.
• Claim Renewal Payment: Lucky Minerals is required to make a $35,000 option payment to Patricia Lafontaine for property claims renewal in August 2024.
• Expenditure Commitments: The company must incur a minimum of $1,000,000 in expenditures on or before the second anniversary of the effective date, and an additional $3,000,000 by the fourth anniversary.
• Cash Payments: Clarification of cash payments to the vendors, including a $10,000 payment to Patricia LaFontaine made on March 27, 2025.

The Prud'homme property, located in Nunavik, Quebec, consists of 79 mining titles and features approximately 18 known mineralized zones rich in copper, zinc, gold, and silver.

Auditor Change

Lucky Minerals has announced a change in its auditing firm. Olayinka Oyebola & Co. has resigned as the company's auditor, effective September 10, 2024. Mao & Ying LLP, Chartered Professional Accountants, have been appointed as the successor auditor. The company confirmed there were no reportable events or reservations in the former auditor's reports.

Sources

• Lucky Minerals Announces Corporate Update, Junior Mining Network.