Mr. Robert Brown reports

FINLAY MINERALS ANNOUNCES AN APPLICATION TO EXTEND WARRANTS

Finlay Minerals Ltd. is applying to the TSX Venture Exchange to extend the term of 13,125,000 warrants with an exercise price of 20 cents and expiring on Dec. 18, 2023, issued under its private placement completed on Dec. 18, 2019. See the company's press release dated Dec. 18, 2019 (available on SEDAR+), for more information regarding the private placement.

The company is applying to amend the warrants to extend the expiry date from Dec. 18, 2023, to Dec. 18, 2024. The foregoing amendments are subject to regulatory acceptance by the exchange. The exercise price of 20 cents and all other terms of the warrants will remain unchanged for the extended exercise period.

The company further reports that 13,093,750 of the 13,125,000 warrants are held by a control person of the company. As such, the extension of such warrants constitutes, to that extent, a related party transaction within the meaning of exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Shareholders. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 (and exchange Policy 5.9), as the fair market value of the warrants held by the control person does not exceed 25 per cent of the market capitalization of the company.

About Finlay Minerals Ltd.

Finlay is a TSX-V company focused on exploration for base and precious metal deposits in Northern British Columbia.

We seek Safe Harbor.