FYL.V · 2025-07-17 12:00:00

Finlay Minerals Announces Increased Budget for PIL and ATTY Projects

Exploration Programs

Finlay Minerals Announces Increased Budget

for PIL and ATTY Projects

VANCOUVER, BC

July 17, 2025

/CNW/ -

Finlay Minerals Ltd

. (TSXV: FYL) (OTCQB: FYMNF),

the "Company", is pleased to announce that the approved budget under the Earn-In Agreements with

Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport")

for both the PIL and ATTY

Projects, has been increased to a total of

$3.6 million

Both projects are situated in the highly prospective Toodoggone District of

British Columbia

, which

continues to develop as an important copper-gold (Cu-Au) district with significant potential for further

discoveries.

Initially, the 2025 budget was set at a minimum of

$750,000

for the PIL property and

$500,000

for

the ATTY property. However, these amounts have now been revised to up to

$2.6 million

for the PIL

project and up to

$1.0 million

for the ATTY project. Both programs are fully funded under the Earn-In

Agreements with

Freeport

. According to these agreements,

Freeport

may earn an 80% interest in

each property by investing a total of

$35 million

in exploration expenditures and making cash

payments totaling

$4.1 million

over/up to six years.

Until the Finlay-Freeport Earn-In Agreements

complete, Finlay owns 100% of both properties.

The

PIL

Property

lies in the heart of the Toodoggone region and features several porphyry copper-

gold (Cu-Au) targets, along with associated epithermal gold-silver (Au-Ag) mineralization. To date,

18 porphyry Cu ± Mo ± Au and porphyry-related low- and high-sulphidation epithermal Au-

Ag occurrences have been outlined on the PIL Property. The PIL property is adjacent to Amarc

Resources and Freeport-McMoRan's JOY Project, as well as TDG Gold Corp.'s Shasta/Baker and

Sofia Properties. It is also situated 25 kilometres ("km") northwest of Centerra Gold's former

Kemess South Mine and 15 km east of Thesis Gold's Lawyers Project.

The

ATTY Property

covers 3,875 hectares of sub-alpine terrain in the southern Toodoggone region,

an area known for significant porphyry copper-gold (Cu-Au) and epithermal gold-silver (Au-Ag)

deposits. It is located between Centerra Gold's Kemess Project and the JOY Project, held by

Amarc Resources and Freeport-McMoRan. The KEM target on the ATTY Property resembles the

Kemess North Trend, which is home to the Kemess Underground and Kemess East deposits.

Exploration will focus on the Wrich target, located near the copper geochemical anomaly at the SWT

target on the JOY Property. This anomaly extends over 2 km and continues onto the ATTY Property

for an additional 1.2 km to the southeast.

The 2025 programs at the PIL and ATTY are well underway with:

Detailed property-wide, 100 metre line-spaced airborne magnetic surveys completed on both

properties;

Detailed geological and alteration mapping and expanded rock and soil sampling on up to 8

target areas on the PIL underway, with the ATTY expected to start by the end of July;

53 line-km of induced polarization ("IP") geophysical surveys planned on the PIL and 16 line-km

on the ATTY, and

Finlay acting as the Operator on both properties.

Finlay's President and CEO,

Ilona Lindsay

, states

"We are very pleased with the substantial increase in approved funding for both the PIL and the

ATTY. This additional funding will allow us to identify and prioritize as many targets as possible for

drilling in 2026."

References:

Freeport-McMoRan (FCX) is a leading international metals company focused on copper, with

major operations in the Americas and

Indonesia

and significant reserves of copper, gold, and

molybdenum.

Finlay news releases NR 03-25 dated

April 17, 2025

entitled: "

Finlay Minerals Enters into Earn-

In Agreements with

Freeport

for its PIL & ATTY Properties

" and NR 05-25 dated

May 2, 2025

and entitled: "

Finlay Minerals Receives TSX Venture Exchange Approval for PIL Earn-In

Agreement.

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 five

properties in northern

British Columbia

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

Executive Chairman of the Board

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. All such forward-looking statements are based on the opinions and estimates of

management as of the date such statements are made. Forward-looking statements in this news

release include statements regarding, among others, the exploration plans for the PIL & ATTY

Properties. 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 successes, and continued availability of

capital and financing and general economic, market or business conditions. 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.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/July2025/17/c1585.html

%SEDAR: 00018019E

For further information:

For further information, contact: Finlay Minerals Ltd., Ilona Barakso

Lindsay, President & CEO & Director, Tel: 604-684-3099, [email protected]

CO: Finlay Minerals Ltd.

CNW 08:00e 17-JUL-25

← Back to feed