Finlay Minerals Set to Acquire New Canadian Copper-Silver Property

Finlay Minerals has reached an agreement to acquire the SAY Property, an area rich in high-grade copper, silver, and molybdenum-copper mineralization located 140km north of Smithers in British Columbia, Canada, from Electrum Resources. The acquisition involves Finlay paying C$50,000 ($36,530) for a complete 100% ownership of the SAY Property, which spans 10,587 hectares. Currently, the property is encumbered with a 1.5% net smelter return royalty held by Electrum Resources, with Finlay retaining the option to repurchase half of this royalty for C$1.5 million. Additionally, upon completion of a feasibility study for the SAY Property, Finlay will further compensate Electrum with C$300,000.

The SAY Property is renowned for its mineral potential, particularly in copper (Cu) ± silver (Ag) and molybdenum-copper, focusing on two primary target areas: Spur and Shel. These areas are situated within the Bear Lake Corridor of the Stikine Terrane, an area characterized by volcanic redbed and sediment-hosted Cu ± Ag showings that have been historically underexplored.

Robert F. Brown, President & CEO of Finlay Minerals, expressed enthusiasm about the acquisition, stating, "Our initial rock sampling in the Spur Target Area, which has been largely unexplored until now, has revealed significant high-grade copper-silver values associated with regional geological structures and a magnetic-high trend." Brown highlighted the Spur Trend and the presence of Shel porphyry copper mineralization as key indicators of the SAY Property's potential as a prime exploration opportunity within the extensive Stikine Terrane of northern British Columbia.

Looking ahead, Brown emphasized Finlay's plans to commence an exploration program in the near future aimed at further evaluating the existing targets and identifying new exploration prospects.

The completion of this acquisition is contingent upon approval from the TSX Venture Exchange. The SAY Property's strategic location within the Stikine Terrane, positioned between the Toodoggone District and the Skeena Arch, underscores its geological significance and mineral potential in a relatively underexplored region.

Finlay, listed on TSXV, focuses on exploring base and precious metal deposits across northern British Columbia, managing multiple properties alongside the SAY Property. These include the Silver Hope Property, spanning 213.11 km² around the past-producing Equity Silver Mine in the Skeena Arch region. It features the Main Trend, a mineralized trend exceeding 2 km in copper, silver, and gold, starting from the surface, and the West Cu-Mo Porphyry, similarly mineralized. Accessible year-round from Houston, BC, the property boasts a network of forestry roads and trails.

The ATTY Property covers 33.93 km² of sub-alpine terrain in southern Toodoggone, part of a belt hosting significant porphyry copper-gold-silver and epithermal gold-silver deposits. Positioned between Centerra Gold’s Kemess Property and the Joy Property held by Amarc and Freeport-McMoRan, ATTY’s KEM target resembles Kemess North Trend, home to Kemess Underground and Kemess East deposits.

The PIL Property, sprawling over 170 km² in Toodoggone, harbors numerous porphyry copper-gold-silver targets and associated epithermal gold-silver mineralization. Cascadia Minerals Ltd. holds a 70% interest option, with Finlay retaining 30% post-option exercise, marking Year 3 of a 5-year agreement, after which a joint venture will ensue.