Mr. Robert Brown reports

FINLAY MINERALS REPORTS COMPLETION OF THE 2023 FIELD WORK AT ITS PIL PROPERTY BY CASCADIA MINERALS INCLUDING SAMPLE RESULTS OF 9.01% COPPER, 0.26 G/T GOLD, AND 212 G/T SILVER, AND PLANS FOR DRILLING IN 2024

Cascadia Minerals Ltd. (formerly Atac Resources Ltd.), the optionor of Finlay Minerals Ltd.'s PIL property, has released results of its year 2 surface exploration work on the PIL property, located in the heart of the prolific Toodoggone porphyry copper-gold and epithermal precious metal district of Northern British Columbia. Work in 2023 included a Titan deep induced polarization (IP) geophysical survey at the PIL South target as well as prospecting and mapping focused primarily in the underexplored northeastern portion of the property at the Spruce target.

Cascadia's news release dated Jan. 9, 2024, with the exploration result details, was filed on the SEDAR+ profile of Cascadia and may be referenced on SEDAR+.

Some PIL 2023 exploration highlights:

• Deep IP survey at the PIL South target identified a classic porphyry signature below shallow historical drilling that intersected typical high-level pyrite mineralization and alteration;
• The IP survey signature underlies a 2.5-kilometre-by-2.0-kilometre gold-copper-plus-or-minus molybdenum soil and rock sample anomaly at surface;
• Prospecting at the Spruce target identified significant copper, silver and molybdenum samples along a 2.6-kilometre trend;
• Spruce rock sample highlights include 9.01 per cent copper with 212 grams per tonne silver and 0.26 gram per tonne gold in float and 3.75 per cent copper with 101 parts per million molybdenum in outcrop;
• Planning is under way for 2024 exploration, including diamond drilling at PIL South in 2024 to test the porphyry target at depth and geophysics and mapping to prepare Spruce for drilling.

Robert F. Brown, president and chief executive officer of Finlay Minerals, stated: "I am absolutely delighted that the PIL project has been advanced to a planned 2024 drill program on the PIL South porphyry target. The Spruce surface work, to be enhanced with further rock sampling, mapping and IP surveys in 2024, has defined a large, 2.6-kilometre-long trend of mineralization indicative of a possible high-level porphyry system. Cascadia has easily exceeded its second-year option requirements and we look forward to further successful efforts. Finlay is pleased with the robust results and large target sizes."

Pursuant to the option agreement, Cascadia may exercise the option and acquire a 70-per-cent interest in the PIL property for consideration totalling $1.9-million and $12-million of work in staged amounts on or before Dec. 31, 2026. Following the exercise of the option, Cascadia and Finlay will hold interests in the property of 70 per cent and 30 per cent, respectively, and a joint venture will be formed (reference: Finlay news release dated March 1, 2022).

The PIL property is in the Toodoggone mining district of British Columbia and contains several mineralization types, including epithermal gold/silver, porphyry copper/gold/molybdenum and skarn gold. The PIL property is neighboured by TDG Gold Corp.'s Baker-Shasta property, Canasil Resources' Brenda property, Amarc Resources' Joy property and Skeena Resources' Sofia property. The PIL property is also 25 kilometres northwest of Centerra Gold's Kemess project and 15 kilometres east of Thesis Gold's Lawyer's project.

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 but has not verified the technical data from the Cascadia Minerals news release dated Jan. 9, 2024. Adam Coulter, MSc, PGeo, vice-president, exploration, for Cascadia and a qualified person for the purposes of NI 43-101, approved the technical content for the Cascadia Minerals news release, which Finlay used to draft this release.

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company also focused on exploration for base metal and precious metal deposits on two other properties in Northern British Columbia:

• The Silver Hope property covers 213.11 square kilometres and surrounds the past-producing Equity silver mine in the prospective Skeena Arch region of central British Columbia. The Silver Hope property contains the Main trend, which is a greater-than-two-kilometre copper-silver-gold-mineralized trend with mineralization starting at surface. West of the Main trend is the West copper-molybdenum porphyry, which is also mineralized starting from surface. The property hosts a network of forestry roads and trails and has all-year access from Houston, B.C.
• The Atty property covers 33.93 square kilometres of subalpine terrain in the southern Toodoggone region. The Toodoggone region is a northwest-trending belt of Triassic to Jurassic arc terranes that hosts numerous significant porphyry copper/gold plus or minus silver and associated epithermal gold-silver 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 property's KEM target has similarities to the Kemess North trend, which hosts the Kemess Underground and Kemess East deposits.

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

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