Mr. John Barakso reports

REPORT OF ACQUISITION OF COMMON SHARES OF FINLAY MINERALS LTD.

Following John Andrew Barakso's acquisition of 100,000 common shares of Finlay Minerals Ltd. on the TSX Venture Exchange on July 14, 2022, at eight cents per common share for total consideration of $8,000, Mr. Barakso had acquired deemed beneficial ownership of 3,421,692 common shares of Finlay.

Immediately prior to the transaction, Mr. Barakso had deemed beneficial ownership of 3,321,692 common shares representing 2.60 per cent of the then deemed issued and outstanding common shares. The 3,321,692 common shares, together with 9,395,500 common shares owned by a deemed joint actor under applicable securities legislation, totalled 12,717,192 common shares representing 9.97 per cent of the then deemed issued and outstanding common shares.

Immediately after the transaction, Mr. Barakso had deemed beneficial ownership of 3,421,692 common shares representing 2.68 per cent of the then deemed issued and outstanding common shares. These common shares, together with the common shares owned by the deemed joint actor, totalled 12,817,192 common shares representing 10.05 per cent of the then deemed issued and outstanding common shares, an increase of 0.08 per cent in respect of the aggregate beneficial ownership of common shares.

Mr. Barakso acquired the common shares for investment purposes. Mr. Barakso may, from time to time and at any time, acquire additional common shares and/or other equity, debt or other securities or instruments of Finlay in the open market or otherwise, and reserves the right to dispose of any or all securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business and prospects of Finlay and other relevant factors.

A copy of the related early warning report filed under applicable securities laws is available under Finlay's profile on SEDAR or from Mr. Barakso at 604-684-3099.