FYL.V · 2017-08-02 12:00:00

Finlay Minerals Ltd. announces the closing of a non-brokered $200,000 financing

Financings

VANCOUVER

Aug. 2, 2017

/CNW/ -

Finlay Minerals Ltd. (TSXV: FYL)

(the "Company") is pleased to announce the closing of a non-brokered private

placement financing today. A total of 3,333,333 units at

$0.06

per unit were issued for gross proceeds of

$200,000

. Each unit consists of one common share and

one-half of one share purchase warrant. Each whole warrant is exercisable for the purchase of an additional common share for a term of 24 months at an exercise

price of

$0.10

per common share. The warrant term will be accelerated upon written notice from the Company, in the event that the common shares of the

Company close at a price of not less than

$0.30

per share for at least 20 consecutive trading days. Upon such notice being provided, the holders of the warrants

will have 30 days to exercise the warrants, failing which they will expire and be of no further force or effect.

The funds will be used to continue work on the PIL Property's newly discovered copper-silver alkali porphyry system and for working capital.

No finder's fees or commissions were paid in regards to this private placement financing.

The private placement shares, the warrants and any common shares acquired upon exercise of the warrants will be subject to a four-month hold period expiring

December 3, 2017

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern

British Columbia

. The Company's properties

include:

the

Silver Hope

which includes porphyry copper-molybdenum mineralization discovered in 2010, along with three silver-copper mineralized zones, in a

contiguous trend with the mined-out deposits of the former Equity Silver Mines (71 million oz. silver, 185 million lbs. copper and 508,000 oz. gold),

the

ATTY

which is contiguous to the north side of the Kemess East deposit of AuRico Metals Inc., and

the

PIL

Property.

Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture Exchange. 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

President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 the proposed used of funds from the Private Placement and the Company's intentions relating to exploration of the

PIL Property. 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: http://www.newswire.ca/en/releases/archive/August2017/02/c2038.html

%SEDAR: 00018019E

For further information:

Finlay Minerals Ltd., John Barakso, Chairman of the Board, Tel: 604-684-3099, [email protected]

CO: Finlay Minerals Ltd.

CNW 17:54e 02-AUG-17

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