Finlay Minerals Acquires Copper & Silver SAY Property from Electrum

Finlay Minerals Ltd. (“Finlay”) has bolstered its presence in British Columbia's burgeoning Bear Lake Corridor by successfully closing the acquisition of the SAY Property from Electrum Resource Corporation ("Electrum") This strategic move strengthens Finlay's portfolio within the underexplored region, neighboring well-established properties like American Eagle Gold's NAK and Quartz Mountain Resource's Jake. The SAY Property acquisition highlights Finlay's commitment to advancing its exploration and development efforts in this promising area.

In a definitive move to expand its mineral property holdings, Finlay secured the SAY Property through a purchase agreement. This property encompasses 18 mineral tenures spanning roughly 10,587 hectares and was acquired for a cash consideration of CDN$50,000, paid at closing. The SAY Property is subject to a 1.5% net smelter return royalty (NSR Royalty) held by Electrum. Finlay has the option to repurchase half of this NSR Royalty (0.75%) for CDN$1,500,000. Additionally, if Finlay announces or publicly files a positive feasibility study on the SAY Property, an extra cash payment of CDN$300,000 will be made to Electrum. This arrangement solidifies Finlay's commitment to the property and provides strategic financial options moving forward.

Electrum and Baril Developments Ltd., both private British Columbia companies controlled by John A. Barakso and Ilona B. Lindsay, along with a personal trust where John J. Barakso is the sole trustee and John A. Barakso and Ilona B. Lindsay are beneficiaries, collectively hold over 20% of the voting rights attached to the Company's outstanding common shares. Additionally, Ilona B. Lindsay and Dr. John A. Barakso serve as directors and/or officers of the Company and Electrum. Consequently, the Transaction qualifies as a “related party transaction” under TSX Venture Exchange (TSXV) Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (MI 61-101). The Company invoked exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101, specifically subsections 5.5(a) and 5.7(1)(a), as the fair market value of the SAY Property and the consideration for the Transaction did not exceed 25% of Finlay’s market capitalization at the time the Transaction was agreed upon, in accordance with MI 61-101.

Robert Brown, President and Chief Executive Officer of Finlay, highlighted the significant findings at the SAY project, which captured their attention through recent exploration efforts. These efforts unveiled a prominent >4.3 km trend on the Spur Target, with outcrop rock samples showing up to 15.8% Cu and 993 g/t Ag. Of the 129 rock samples collected so far, 78 yielded over 1% Cu and 59 yielded more than 100 g/t Ag along this trend. High copper-silver values discovered along a major NNW magnetic trend suggest a promising link between mineralization and geological features, making it an attractive exploration target. Blow out zones at structural junctions, noted to span up to 125 meters across, will undergo detailed sampling to assess their potential for bulk tonnage at grade-width levels.

Regarding the second SHEL target, it hosts a compelling 3 km by 2 km circular magnetic anomaly, accompanied by a surface gossanous zone and a copper-molybdenum soil geochemical anomaly. Finlay is actively planning for their inaugural exploration program scheduled for later this summer, aiming to further investigate and delineate these promising mineral targets.