Vancouver, BC – November 28, 2024 – Finlay Minerals (TSXV: FYL | OTCQB: FYMNF) (“Finlay” or the “Company”) is pleased to announce that it has received proceeds of $200,000 pursuant to the exercise of 2,000,000 warrants (the “Warrants”) at an exercise price well above the current market price.
An insider of the Company, Ilona Barakso Lindsay, exercised the Warrants, which were acquired through a private placement transaction completed in 2023, with an exercise price of $0.10 and an expiry date of May 29, 2025.
Ms. Lindsay acquired these securities for investment purposes and may choose to exercise the remaining warrants in the warrant series at her discretion.
No new insiders or control persons were created with this warrant exercise.
“I am very pleased to continue supporting Finlay despite the challenging market conditions. Our recent exploration success on the SAY Project demonstrates our commitment to creating shareholder value,” stated Ms. Lindsay.
“In 2024, we completed a Controlled Source Audio-frequency Magnetotellurics (CSAMT) survey on the Silver Hope Property, which indicates the potential expansion of the Main and West Cu-Mo porphyry mineralized zones. This survey also identified East Trends 1 & 2 and Dina East as viable new drill targets.* Additionally, we acquired the highly prospective copper and silver SAY Project in northern British Columbia.”
A recently completed program on the SAY Project discovered the AG Zone – a 200-meter by 200-meter zone characterized by multi-directional copper-silver (Cu-Ag) mineralized brittle fracturing. Notably, a 9.5-meter chip sample assayed at 0.94% Cu and 18.1 g/t Ag, while another 4.5-meter chip sample assayed at 0.85% Cu and 35.3 g/t Ag. The AG Zone remains open to the west and south. **
Due to these highly encouraging results, the Company staked an additional 4,665 hectares (ha), increasing the size of the property by 44%. Planning is underway for a substantial and systematic exploration program in 2025 aimed at expanding the new AG Zone, identifying the source of the Cu-Ag mineralizing system, and further evaluating the Cu-Ag fracture mineralization along the 4.3 km long SPUR Trend.
References:
* Reference Finlay News Release NR10-24 dated July 30, 2024 entitled: “Finlay Minerals confirms Targets on the Silver Hope from completed CSAMT Geophysical Survey.”
** Reference Finlay News Release NR13-24 dated November 20, 2024 entitled: “Finlay Minerals samples 1.17% Cu and 103.5 g/t Ag across 21.7 meters of a Continuous Chip Sample on the SAY Property.”
Qualified Person:
Wade Barnes, P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.
About Finlay Minerals Ltd.
Finlay is a TSXV company focused on exploration for base and precious metal deposits with four properties in northern British Columbia. In addition to the SAY, the Company has two Toodoggone Properties and the Silver Hope Property surrounding the past-producing Equity Silver Mine.
Finlay trades under the symbol “FYL” on the TSXV and under the symbol “FYMNF” on the OTCQB. For further information and details, please visit the Company’s website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert F. Brown, P. Eng.
President, CEO & Director
For further information, contact:
Finlay Minerals Ltd.
Robert F. Brown, President, CEO & Director,
Tel: 604-684-3099
rbrown@finlayminerals.com
