Mr. Robert Brown reports

FINLAY MINERALS ANNOUNCES THE COMMENCEMENT OF ITS 2023 REGIONAL EXPLORATION PROGRAM ON THE SILVER HOPE PROPERTY

Finlay Minerals Ltd. has engaged ALS GoldSpot Discoveries to undertake a machine-learning data review of the Silver Hope property to delineate and refine future drill targets. The ALS GoldSpot data review will merge all data on the Silver Hope property to develop a prospectivity report aiming to identify similar signatures to the known mineralized trends and to further enhance other prospective targets for future drilling.

A lidar survey is also expected to commence shortly. The survey will consist of 80.3 line kilometres, which will cover 180 square kilometres of the property, including the Main trend and the Equity East, Allin and Sam zones. The survey will result in the generation of a detailed digital elevation model, which will be used to further refine targets. Additional fieldwork is being planned and set to begin in late spring 2023.

ALS GoldSpot Discoveries leverages machine learning to reduce capital risk, and simultaneously increase efficiencies and success rates in resource exploration. The ALS GoldSpot team will merge all available geophysical, surface geology/geochemistry and drilling data on the Silver Hope property to develop a prospectivity report and targets. ALS GoldSpot will develop signatures that exist at the known mineralized trends (the Main trend and the West trend) and the past-producing Equity silver mine and outline potentially similar signatures on the property but also outline other targets having different mineralization potential.

Robert Brown, PEng, president and chief executive officer of the company, stated: "The data review by ALS GoldSpot, will go a long way towards enhancing the various targets previously generated by drilling, soil geochemistry, ground IP [induced polarization], airborne magnetic and ZTEM [Z-axis tipper electromagnetic] geophysical surveys, in addition to developing new targets. The West, Main and East trends encompass an area of two kilometres by two kilometres while the Equity East and Allin zones encompass an area of 2.5 kilometres by 3.0 kilometres -- both are large areas with known mineralization and potential for further discoveries."

Only 38 kilometres southeast of Houston, situated in British Columbia's Nechako plateau, the strategic location of the Silver Hope property is in an area with numerous past-producing deposits, including the Equity silver mine and the Silver Queen, Bell-Granisle, Huckleberry and Endako mines, and offers significant potential for new discoveries.

Finlay's drilling has successfully discovered low-sulphidation copper-silver-plus-or-minus-gold mineralization along the Main trend toward the south of the Equity Main zone. Through this targeted drilling, the Hope, Superstition and Gaul zones have been identified with a west-dipping mineralized trend that extends for two kilometres along strike.

Qualified person

Wade Barnes, PGeo, 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 TSX Venture Exchange company focused on exploration for base metal and precious metal deposits in Northern British Columbia.

Finlay trades under the symbol FYL on the TSX-V and under the symbol FYMNF on the OTCQB.

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