Finlay Reports on the ATTY Property Option by Serengeti Resources Inc. and the Appointment of a Vice President, Corporate Relations
Finlay Reports on the ATTY Property Option
by Serengeti Resources Inc. and the
Appointment of a Vice President, Corporate
Relations
VANCOUVER
,
April 4, 2019
/CNW/ -
Finlay Minerals Ltd. (TSXV: FYL)
(the "Company") reports
that Serengeti Resources Inc. ("Serengeti") has fulfilled the first anniversary financial requirements in
regards to the option agreement of its ATTY Property.
The option agreement, which was entered into in March, 2018 (
Reference:
Finlay NR 01-18 dated
March 5, 2018
), has an 8 year term and is now in its second year. The Company looks forward to
Serengeti's summer program on the ATTY with a minimum of
$875,000
of work to be conducted.
The results of the 2018 field work conducted by Serengeti on the ATTY identified 4 drill targets - one
of which confirmed and expanded the drill target identified by the Company's 2007 Titan IP
geophysical survey.
The Company confirms that, per the option agreement, ownership of the ATTY Property does not
get transferred unless and until such time as all the financial consideration of
$1.85 million
and work
commitments of
$12 million
have been met by Serengeti.
The Company further announces the appointment of
Ilona Barakso Lindsay
as Vice President,
Corporate Relations. Ms. Lindsay has worked for the Company for over 10 years and has been
responsible for tenure management, accounting, corporate administration and recently, financings.
She holds a Bachelor of Science degree in Microbiology from the
University of British Columbia
and
is a director in the Barakso family companies.
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 are:
the
Silver Hope
Property 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 Mine (71 million oz. silver, 185 million lbs.
copper and 508,000 oz. gold;
Reference:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001
).
The Silver Hope Property
surrounds the former Equity Silver Mine;
the
ATTY
Property which is contiguous to the north side of the Kemess East deposit and
adjacent to the Kemess Underground deposit of Centerra Gold Inc. and which was recently
optioned to Serengeti Resources Inc. (
Finlay NR 01-18 dated
March 5, 2018
), and
the
PIL
Property, which is adjacent to Sable Resource's Baker Mine, has nine known
mineralized zones including the recently discovered and expanded Pillar East gold-silver
structural system. The Company is focused on the discovery of copper-gold-molybdenum
porphyry systems on 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
, P.Eng.
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, 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/April2019/04/c9353.html
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For further information:
Finlay Minerals Ltd., John Barakso, Chairman of the Board, Tel: 604-684-
3099, [email protected]
CO: Finlay Minerals Ltd.
CNW 08:30e 04-APR-19