VANCOUVER, BC, July 16,
2024 /CNW/ - Finlay Minerals Ltd.
(TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the
"Company") is pleased to announce that Cascadia Minerals
Ltd., the Company's partner and operator on its PIL Property in the
Toodooggone region of British
Columbia, has commenced drilling on the PIL.
Robert Brown, President and
Chief Executive Officer of Finlay, states:
"Finlay is excited that Cascadia has commenced
drilling on the compelling PIL South copper-gold porphyry system,
as well as expanding exploration work on the new Spruce porphyry
target. We look forward to the results of this field season's
work. Finlay has been involved in porphyry copper-gold
exploration in the Toodoggone for the past 25 years at both its PIL
and ATTY projects."
For further information and details on the PIL Property drilling
and exploration program and to reference the image above (*), refer
to Cascadia Mineral's news release dated July 15, 2024 entitled "Cascadia commences
drilling at the PIL Property, Toodoggone Region, BC" available on
Cascadia Mineral's profile on www.sedarplus.ca
Qualified Person:
Wade Barnes, P. Geo. and Vice
President, Exploration for Finlay and a qualified person as defined
by National Instrument 43-101, has reviewed and 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:
- The SAY Property covers 10,587 hectares (ha)
within a relatively underexplored corridor of the Stikine
Terrane. The SAY has a 4.3 km high-grade Cu-Ag mineralized
trend encompassing the Spur showing and a Mo-Cu porphyry target at
the Spur.
- The Silver Hope Property covers 21,691 ha and
surrounds the past-producing Equity Silver Mine in the prospective
Skeena Arch region of central B.C. The Silver Hope contains the
Main Trend which is a >2 km Cu-Ag-Au mineralized trend with
mineralization starting at surface. West of the Main Trend is
the West Cu-Mo Porphyry which is also mineralized starting from
surface. The Property hosts a network of forestry roads and trails
and has all-year access from Houston,
BC.
- The ATTY Property covers 4,498 ha of sub-alpine
terrain in the southern Toodoggone region. The Toodoggone is a
northwest-trending belt of Triassic to Jurassic arc terranes that
hosts numerous significant porphyry Cu-Au ± Ag and associated
epithermal Au-Ag deposits. The ATTY Property is in between and
contiguous to Centerra Gold's Kemess Property and the
joint-ventured Joy Property held by Amarc and Freeport-McMoRan. The
ATTY's KEM target has similarities to the Kemess North Trend, which
hosts the Kemess Underground and Kemess East deposits.
- The PIL Property, which covers 13,965 ha in
the heart of the Toodoggone region, has numerous porphyry Cu-Au ±
Ag targets and associated epithermal Au-Ag mineralization. The
property is in Year 3 of a 5-year option to Cascadia Minerals Ltd.,
on completion of which Cascadia would acquire a 70% interest in the
PIL. Following the exercise of the option, Cascadia and
Finlay would hold interests in the Property of 70% and 30%,
respectively, and a joint venture would be formed.
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
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information: This news
release includes certain "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable Canadian
securities legislation. All statements in this news release that
address events or developments that we expect to occur in the
future are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are
generally, although not always, identified by words such as
"expect", "plan", "anticipate", "project", "target", "potential",
"schedule", "forecast", "budget", "estimate", "intend" or "believe"
and similar expressions or their negative connotations, or that
events or conditions "will", "would", "may", "could", "should" or
"might" occur. Forward-looking statements in this news release
include the exploration plans on the PIL Property. All such
forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made. Although
Finlay believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market
prices, exploration results, availability of capital and financing
and general economic, market or business conditions, and the other
risk factors described in Finlay's filings with Canadian securities
regulators on SEDAR+ at www.sedarplus.ca. These forward-looking
statements are based on a number of assumptions including, among
other things, assumptions regarding general business and economic
conditions, the timing and receipt of regulatory and governmental
approvals, the ability of Finlay and other parties to satisfy stock
exchange and other regulatory requirements in a timely manner, the
availability of financing for Finlay's proposed transactions and
programs on reasonable terms, and the ability of third-party
service providers to deliver services in a timely manner. Investors
are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Finlay does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information,
future or otherwise, except as required by applicable law.
SOURCE Finlay Minerals Ltd.