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175m @ 2.5% Copper from 7.6m, Gap Ends in 4.46% Copper & Open at Depth Danvers Drilling Delivers a Globally Important Copper Intersection

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May 6, 2025
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175m @ 2.5% Copper from 7.6m, Gap Ends in 4.46% Copper & Open at Depth Danvers Drilling Delivers a Globally Important Copper Intersection
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Finlay Minerals Ltd. logo (CNW Group/Finlay Minerals Ltd.)

Pursuant to the PIL Earn-In Settlement, Freeport could purchase an 80% curiosity within the PIL Property by making mixture money funds of CAD $3,000,000 to Finlay and finishing an mixture of $25,000,000 of exploration expenditures on the PIL Property over a 6-year interval.  Pursuant to the ATTY Earn-In Settlement, Freeport could purchase an 80% curiosity within the ATTY Property by making mixture money funds of CAD $1,100,000 to Finlay and finishing an mixture of $10,000,000 of exploration expenditures on the ATTY Property over a 6-year interval.  The earn-in in respect of every of the Properties could also be exercised individually, and the total particulars of the train necessities for every earn-in are set out within the desk beneath.  Following the completion of the earn-in on both of the Properties, Freeport and Finlay will respectively maintain pursuits of 80% and 20% in such Property, and a three way partnership firm will likely be shaped for additional exploration and growth.  Within the occasion {that a} celebration doesn’t fund their portion of additional three way partnership applications, their pursuits within the three way partnership firm will dilute. Any celebration that dilutes to beneath a ten% curiosity within the three way partnership firm will alternate its three way partnership firm curiosity for a web smelter returns (” NSR “) royalty of 1% on the relevant Property, which is topic to a 0.5% buyback for USD $2,000,000 .

Desk 1 . Staged money and expenditure phrases for the PIL and ATTY earn-in agreements.

PIL

ATTY

Money

Work

Money

Work

12 months 1

$ 550,000

$    750,000

$    150,000

$      500,000

12 months 2

$ 350,000

$ 1,000,000

$    100,000

$   1,000,000

12 months 3

$ 375,000

$ 3,000,000

$    125,000

$   1,500,000

12 months 4

$ 400,000

$ 5,250,000

$    150,000

$   2,000,000

12 months 5

$ 500,000

$ 5,500,000

$    275,000

$   2,000,000

12 months 6

$ 825,000

$ 9,500,000

$    300,000

$   3,000,000

Complete (CAD)

$3,000,000

$25,000,000

$1,100,000

$10,000,000

These earn-in necessities could be accelerated by Freeport at its discretion. Through the earn-in interval, Finlay would be the operator on the Properties, amassing an operator’s price, underneath the route of a joint technical committee that may approve work applications and budgets throughout the earn-in interval.

The PIL & ATTY Properties are every topic to a 3.0% NSR royalty held by Electrum Useful resource Company (” Electrum “), a personal firm, the excellent voting shares of that are held by Firm administrators John A. Barakso and Ilona B. Lindsay . The Firm has a present proper to purchase again ½ of the royalty (1.5%) on every property for an mixture cost of $2,000,000 and $1,500,000 respectively.  Finlay and Electrum have entered into amended and restated royalty agreements (the ” A&R Royalty Agreements “) relating to every of the PIL and ATTY Properties, pursuant to which upon and topic to the train of the earn-in in respect of every Property by Freeport , the buy-back proper will likely be amended to supply for a 2.0% royalty buy-back for every Property, in consideration for an elevated buy-back cost that will likely be sole-funded by Freeport with out three way partnership dilution to Finlay, and will likely be divided equally between Finlay and Electrum. For the PIL Property, the elevated buy-back will likely be:

    1. USD$10,000,000 if the buy-back is exercised on or earlier than the date that’s 60 days following the report of an preliminary Pre-Feasibility Examine (as outlined in Nationwide Instrument 43-101 – Disclosure Requirements for Mineral Initiatives (” NI 43-101 “)) on the PIL Property;
    2. USD$15,000,000 if the buy-back is exercised on or earlier than the date that’s 60 days following the report date of an preliminary Feasibility Examine (as outlined in NI 43-101) on the PIL Property; or
    3. USD$20,000,0000 if the buy-back is exercised on or after business manufacturing.

For the ATTY Property, the elevated buy-back will likely be:

    1. USD$5,000,000 if the buy-back is exercised on or earlier than the date that’s 60 days following the report of an preliminary Pre-Feasibility Examine on the ATTY Property;
    2. USD$7,500,000 if the buy-back is exercised on or earlier than the date that’s 60 days following the report date of an preliminary Feasibility Examine on the ATTY Property; or
    3. USD$10,000,0000 if the buy-back is exercised on or after business manufacturing.

Beneath the A&R Royalty Agreements, Finlay and Electrum have additionally agreed, topic to the train of the relevant Freeport earn-in, to extinguish share issuance obligations of 1,000,000 frequent shares and 500,000 frequent shares owing to Electrum previous to or on a manufacturing resolution on the PIL and ATTY Properties respectively.

Freeport-McMoRan (FCX) is a number one worldwide metals firm targeted on copper, with main operations within the Americas and Indonesia and important reserves of copper, gold, and molybdenum.

In regards to the PIL Property:

The 100% owned PIL Property covers 13,374 hectares of extremely potential floor within the prolific Toodoggone mining district of north-central British Columbia. The core PIL claims have been staked over 30 years in the past by the founders of the Firm. Over the a long time, quite a few Cu-Au-Mo porphyry and porphyry-related Au-Ag epithermal targets have been recognized at PIL. The recognized targets are central to a broader 70 km porphyry hall pattern, which incorporates: Centerra Gold’s previous producing Kemess South Cu-Au porphyry mine and Kemess Underground Cu-Au-Ag porphyry useful resource, Thesis Gold’s Legal professionals-Ranch Au-Ag epithermal useful resource, and the newly found Amarc Sources and Freeport AuRORA Cu-Au-Ag porphyry.  Readers are cautioned that mineralization on the foregoing regional properties will not be essentially indicative of mineralization on the PIL Property. The PIL Property is street accessible and permitted for the 2025 season.

In regards to the ATTY Property:

The 100% owned ATTY Property covers 3,875 hectares within the prolific Toodoggone mining district of north-central British Columbia. The ATTY Property adjoins Centerra Gold’s Kemess Undertaking and Amarc Sources and Freeport’s JOY property. A number of epithermal-style Ag ± Au ± Cu ± base-metal veins are uncovered on the ATTY Property, and geochemical and geophysical work have outlined at the very least two promising porphyry targets, together with the drill-ready KEM Goal. The ATTY Property is street accessible and permitted for the 2025 season.

Certified Particular person:

Wade Barnes , P. Geo. and Vice President, Exploration for Finlay and a professional individual as outlined by Nationwide Instrument 43-101, has reviewed and authorised the technical content material of this information launch.

About finlay minerals ltd.

Finlay is a TSXV firm targeted on exploration for base and treasured steel deposits with 5 100% owned properties in northern British Columbia : the PIL and ATTY properties within the Toodoggone, the Silver Hope Cu-Ag Property (21,322 ha) and the SAY Cu-Ag Property (26,202 ha) and JJB Property (15,423 ha) within the Bear Lake Hall of BC.

Finlay Minerals is advancing the ATTY, PIL, JJB, SAY and Silver Hope Properties that host copper-gold porphyry and gold-silver epithermal targets inside totally different porphyry districts of northern and central BC. Every property is situated in areas of latest growth and porphyry discoveries with the benefit of internet hosting the potential for brand spanking new discoveries.

Finlay trades underneath the image “FYL” on the TSXV and underneath the image “FYMNF” on the OTCQB. For additional info and particulars, please go to the Firm’s web site at www.finlayminerals.com

On behalf of the Board of Administrators,

Robert F. Brown
President, CEO & Director

Neither the TSXV nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSXV) accepts duty for the adequacy or accuracy of this launch.

Ahead-Trying Info: This information launch contains sure “forward-looking info” and “forward-looking statements” (collectively, “forward-looking statements”) throughout the which means of relevant Canadian securities laws. All statements on this information launch that tackle occasions or developments that we anticipate to happen sooner or later are forward-looking statements.  Ahead-looking statements are statements that aren’t historic details and are usually, though not at all times, recognized by phrases corresponding to “anticipate”, “plan”, “anticipate”, “mission”, “goal”, “potential”, “schedule”, “forecast”, “funds”, “estimate”, “intend” or “imagine” and related expressions or their unfavorable connotations, or that occasions or circumstances “will”, “would”, “could”, “may”, “ought to” or “may” happen. All such forward-looking statements are primarily based on the opinions and estimates of administration as of the date such statements are made. Ahead-looking statements on this information launch embrace statements concerning, amongst others, the exploration plans for the Properties and the potential train of Freeport’s choice to amass an curiosity within the Properties. Though Finlay believes the expectations expressed in such forward-looking statements are primarily based on cheap assumptions, such statements aren’t ensures of future efficiency and precise outcomes or developments could differ materially from these forward-looking statements. Elements that would trigger precise outcomes to vary materially from these in forward-looking statements embrace market costs, exploration successes, and continued availability of capital and financing and basic financial, market or enterprise circumstances. These forward-looking statements are primarily based on a variety of assumptions together with, amongst different issues, assumptions concerning basic enterprise and financial circumstances, the timing and receipt of regulatory and governmental approvals, the power of Finlay and different events to fulfill inventory alternate and different regulatory necessities in a well timed method, the supply of financing for Finlay’s proposed transactions and applications on cheap phrases, and the power of third-party service suppliers to ship companies in a well timed method. Buyers are cautioned that any such statements aren’t ensures of future efficiency and precise outcomes or developments could differ materially from these projected within the forward-looking statements,   and accordingly undue reliance shouldn’t be placed on such statements because of the inherent uncertainty therein. Finlay doesn’t assume any obligation to replace or revise its forward-looking statements, whether or not because of new info, future or in any other case, besides as required by relevant regulation.

SOURCE finlay minerals ltd.

Cision View unique content material to obtain multimedia: http://www.newswire.ca/en/releases/archive/May2025/02/c5071.html





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