Mr. Robert Brown reports

FINLAY MINERALS ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND NON-FLOW-THROUGH UNITS

Finlay Minerals Ltd. has closed its non-brokered private placement, previously announced on May 26, 2025, and June 4, 2025, consisting of the issuance of: (i) 11,206,088 common shares of the company issued on a flow-through basis under the Income Tax Act (Canada) at a price of 11 cents per FT share; and (ii) 4.4 million non-flow-through units of the company at a price of 10 cents per NFT unit, for aggregate gross proceeds to the company of $1,672,670.

Each NFT unit was composed of one non-flow-through common share of the company and one non-flow-through common share purchase warrant. Each warrant is exercisable by the holder thereof to acquire one NFT share at an exercise price of 20 cents per NFT share until June 9, 2027, subject to acceleration as described in the company's press release dated June 4, 2025.

The company intends to use the gross proceeds of the private placement for exploration of the company's SAY, JJB and Silver Hope properties and for general working capital purposes, as more particularly described in the amended and restated offering document in respect of the private placement filed on SEDAR+ under the company's profile. The company will use the gross proceeds from the issuance of FT shares to incur Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, as such terms are defined in the Income Tax Act (Canada).

The private placement was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) and in reliance on the co-ordinated blanket order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The securities issued to purchasers in the private placement are not subject to a hold period under applicable Canadian securities laws. The securities issued to certain insiders of the company that participated in the private placement are subject to a hold period expiring on Oct. 10, 2025, in accordance with the policies of the TSX Venture Exchange. The private placement is subject to the final approval of the TSX-V.

The company paid aggregate cash finders' fees of $89,196 and granted 829,145 non-transferable finder warrants to arm's-length finders of the company, as compensation for locating purchasers in the private placement. Each finder warrant entitles the holder thereof to purchase one non-flow-through common share of the company at an exercise price of 20 cents per share until June 9, 2027. The finder warrants and the common shares issued on exercise thereof are subject to a hold period expiring on Oct. 10, 2025, in accordance with applicable securities laws.

Gordon Steblin, the chief financial officer of the company, participated in the private placement by subscribing for 200,000 FT shares, which constitutes a related-party transaction pursuant to Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). There has not been a material change in the percentage of the outstanding securities of the company that are owned by Mr. Steblin as a result of his participation in the private placement. The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the insider in the private placement in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25 per cent of the company's market capitalization as determined in accordance with MI 61-101. The company obtained approval by the board of directors of the company to the private placement. No materially contrary view or abstention was expressed or made by any director of the company in relation thereto. The company did not file a material change report fewer than 21 days before the expected closing date of the private placement as the insider participation was not settled until shortly prior to closing and the company wished to close on an expedited basis for sound business reasons.

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits through the advancement of its ATTY, PIL, JJB, SAY and Silver Hope properties. These properties host copper-gold porphyry and gold-silver epithermal targets within different porphyry districts of Northern and central British Columbia. Each property is located in areas of recent development and porphyry discoveries with the advantage of hosting the potential for new discoveries.

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

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