Mr. Robert Brown reports

FINLAY MINERALS REPORTS ON COMPLETION OF THE SECOND YEAR PIL PROPERTY OPTION TERMS BY CASCADIA MINERALS LTD.

Finlay Minerals Ltd. has noted that Cascadia Minerals Ltd. (formerly ATAC Resources Ltd.) has fulfilled its year 2 obligations pursuant to the PIL property option agreement dated Feb. 28, 2022 (refer to the company's news release dated March 1, 2022, on SEDAR+).

Pursuant to the option agreement, Cascadia may exercise the option to acquire a 70-per-cent interest in the property by making aggregate cash payments of $650,000, share payments having an aggregate cash equivalent value of $1.25-million and incurring an aggregate of $12-million in exploration expenditures in staged amounts on or before Dec. 31, 2026. Following the exercise of the option agreement, Cascadia and Finlay would hold interests in the property of 70 per cent and 30 per cent, respectively, and a joint venture would be formed.

Results of the 2023 PIL fieldwork program will be reported by Cascadia when all results are received and duly compiled.

The PIL property is located in the heart of the Toodoggone mining district of north-central British Columbia. Multiple porphyry copper-gold and vein-related gold-silver targets have been identified on the PIL, and it is neighboured by TDG Gold Corp.'s Sable/Baker property, Canasil Resource's Brenda property, AMARC Resources/Freeport-McMoRan's joint-ventured Joy property and Skeena Resource's Sofia property. The PIL property is 25 kilometres northwest of the former Kemess South mine and property, and is 15 km east of Thesis Gold's Lawyer's project.

Qualified person

Wade Barnes, PGeo, vice-president of 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 and precious metal deposits, with two additional properties in Northern British Columbia:

• The Silver Hope property covers 213.11 square km and surrounds the past-producing Equity silver mine in the prospective Skeena Arch region of central B.C. The Silver Hope contains the Main trend, which is a more than two km copper-silver-gold (Cu-Ag-Au) mineralized trend with mineralization starting at surface. West of the Main trend is the West copper-molybdenum (Cu-Mo) porphyry, which is also mineralized starting from surface. The property hosts a network of forestry roads and trails, and has year-round access from Houston, B.C.
• The ATTY property covers 33.93 square km of subalpine terrain in the southern Toodoggone region. The Toodoggone is a northwest-trending belt of Triassic to Jurassic arc terranes that hosts numerous significant porphyry Cu-Au plus or minus Ag and associated epithermal Au-Ag deposits. The ATTY property is in between, and contiguous to, Centerra Gold's Kemess property and the joint-ventured Joy property, held by Amarc and Freeport-McMoRan. The ATTY's KEM target has similarities to the Kemess North trend, which hosts the Kemess underground and Kemess east deposits.

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