Lucky Minerals Provides Updates on Option Agreement
Vancouver, British Columbia — February 11, 2026 — Leads & Copy —
Lucky Minerals Inc. (TSXV:LKY, OTC:LKMNF, FRA:LKY) announced updates to its option agreement. This follows previous announcements made on December 20, 2023, June 13, 2025, and December 19, 2025.
According to the April 28, 2025, amending agreement, parties agreed to extend the transaction’s outside date from April 30, 2025, to June 30, 2025, and to clarify the Option Agreement and all amending agreements.
Under the June 27, 2025, amending agreement, the parties agreed to extend the Outside Date from June 30, 2025, to August 31, 2025, and clarify the Option Agreement and all amending agreements.
The August 29, 2025, amending agreement further extended the Outside Date from August 31, 2025, to October 31, 2025, and clarified the Option Agreement and all amending agreements. On November 1, 2025, the Option Agreement was further extended, confirming all payments, work expenditures, and remaining obligations.
Lucky Minerals and the vendors, Fire Gold Resources Inc. and Patricia Lafontaine, entered into a transfer acknowledgment agreement. Fire Gold Resources Inc. transferred its mineral claims (approximately 135 claims) to Patricia Lafontaine, and approximately 46 claims were allowed to lapse. Effective April 28, 2025, Patricia Lafontaine is the sole holder of the transferred claims under the Option Agreement, as amended, and the current number of claims is approximately 135.
All other terms of the Option Agreement, as amended, remain unchanged and can be found in the Company’s press releases dated December 20, 2023, and June 13, 2025.
To date, Lucky Minerals has made the following payments under the Option Agreement, as amended:
Cash payments include:
- $50,000 for the additional payment to the Vendors for entering into the first amending agreement.
- $35,000 for the renewal fees for the Prudhomme Property claims maturing on August 14, 2024.
- $10,000 for the additional payment to Patricia Lafontaine for entering into the fourth amending agreement dated January 28, 2025.
Work expenditures completed include:
- $20,000 for work expenditures completed prior to June 30, 2025.
- $15,000 for work expenditures completed prior to October 31, 2025.
These expenditures form part of the cumulative exploration obligation defined under the Option Agreement, as amended.
Under the terms of the Option Agreement, as amended, Lucky Minerals is required to issue to the vendor a maximum of 7,500,000 shares at a floor price of $0.10, pay $750,000, and incur $4,000,000 in expenditures to complete the acquisition of the Property. The company is also required to pay the vendor milestone cash payments:
- An aggregate of $500,000 within six months of the Company filing on SEDAR+ a Bankable Feasibility Study.
- An aggregate of $1,000,000 within 30 days of the board of directors approving to proceed with commercial production.
- An aggregate of $4,000,000 within 30 days of the Company commencing commercial production.
A 2.0% gross metal royalty (“GMR”) over the Property is granted to the vendor, and Lucky Minerals has the right to purchase 1% of the GMR for cancellation for $2,000,000.
The completion of the transactions is subject to the receipt of all required regulatory approvals.
As detailed in a news release issued December 19, 2025, Lucky Minerals is completing a private placement for aggregate gross proceeds of $1,080,000. Approximately $800,000 will be used for working capital and debt reduction over the next six months, and $200,000 in flow-through funds for the property.
Lucky Minerals Inc. is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits.
“Patrick Laforest,” President, CEO and Chief Operating Officer
Further information on Lucky can be found on the Company’s website and at www.sedarplus.ca, or by email at investors@luckyminerals.com or by telephone at (866) 924 6484.
Source: Lucky Minerals Inc.
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