Finlay Minerals receives Multi-Year Exploration Permit for the ATTY and Grants Stock Options
Finlay Minerals receives Multi-Year
Exploration Permit for the ATTY and Grants
Stock Options
VANCOUVER, BC
,
Aug. 22, 2023
/CNW/ -
Finlay Minerals Ltd.
(TSXV: FYL) (OTCQB:
FYMNF) ("
Finlay
" or the "
Company
") is pleased to announce that it has received a multi-year
exploration permit for its ATTY property from the Ministry of Energy, Mines and Low Carbon
Innovation.
The ATTY property permit is for a term of three (3) years, and includes provisions for geophysical,
geological, and core drilling programs.
The ATTY property is being explored for copper-gold-silver porphyry deposits (KEM and Wrich
Zones), as well as associated precious and base metal-rich (Attycelley Zone) veins. The ATTY is
well situated in the Toodoggone area of northern
British Columbia
, contiguous to and between
Centerra Gold's Kemess Property (Kemess Underground and Kemess East copper-gold porphyry
deposits) to the south, and Amarc Resources – Freeport McMoRan joint ventured Joy property
(Pine copper-gold porphyry) to the north.
The Company further announces that, pursuant to the Company's 10% Rolling Stock Option Plan
(the "
Plan
") as most recently re-approved by its shareholders on
June 23, 2023
and approved by
the TSX Venture Exchange on
July 20, 2023
, the Company has granted stock options exercisable
for the issuance of up to 5,050,000 common shares of the Company (the "
Stock Options
") on
August 21, 2023
. The Stock Options are exercisable at a price of
$0.05
per share for a period of
five years, expiring on
August 21, 2028
. The Stock Options are subject to the terms of the Plan.
The Stock Options were granted to the six directors of the Company, as elected at the Company's
Annual General Meeting on
June 23, 2023
, and two officers. The Company does not compensate
directors other than by incentive stock options.
The above-noted stock option grant brings the total number of the Company's issued and
outstanding stock options to 10,400,000. As of the date of this news release, the Company has
138,111,232 common shares issued and outstanding, and is therefore authorized to issue a
maximum of 13,811,123 options under the Plan.
The Stock Options vest as of the date of the grant. The Stock Options and any common shares of
the Company issued upon exercise of the Stock Options will be subject to a four-month resale
restriction from the date of grant of the Stock Options.
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 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
, 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. 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 ATTY 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.
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http://www.newswire.ca/en/releases/archive/August2023/22/c5341.html
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For further information:
Finlay Minerals Ltd., Ilona Lindsay, Vice President, Corporate Relations,
Tel: 604-684-3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:30e 22-AUG-23