Ms. Ilona Lindsay reports

FINLAY MINERALS ADVANCES MULTIPLE TARGETS TO DRILL-READY ON ITS PIL PROPERTY

Finlay Minerals Ltd. has released the 2025 exploration results from the Pil property have identified several drill-ready targets and new porphyry targets warranting further investigation. The property is strategically positioned within a significant porphyry corridor located in the Toodoggone district and is currently subject to an earn-in agreement with Freeport-McMoRan Mineral Properties Canada Inc.

Highlights from the 2025 exploration program include:

• Defined a buried 2,000-metre-by-1,200-metre (m) chargeability anomaly at the Reef porphyry gold plus copper target equals drill ready.
• Expanded the Pil South copper plus gold porphyry target chargeability anomaly to 1,200 m by 2,300 m equals drill ready.
• Defined a large chargeability and resistivity anomaly below the gold porphyry target equals drill ready.
• Identified a moderate chargeability halo below the large copper plus gold plus molybdenum soil geochemical anomaly at Copper Ridge.
• Mapping at the Spruce area has further advanced its potential for a significant discovery.
• Generated new regional targets from the 2025 airborne magnetic and large-scale geochemical sampling surveys.

Ilona B. Lindsay, Finlay's president and chief executive officer, states:

"Our 2025 exploration program, with Freeport's funding support, delivered on several fronts: taking three targets -- the Reef, Pil South and Gold, to the drill-ready stage, expanding two further targets and identifying multiple new regional targets. The Pil continues to be one of the gems in Finlay's property portfolio."

The 2025 exploration program targeted the Reef, Pil South, Gold, Copper Ridge, Zeus and Spruce areas of the Pil. It involved collecting 381 rock samples, 1,494 soil samples and 561 SWIR data points. In addition, 46 line kilometres of induced polarization and a 1,533-line-kilometre airborne magnetic survey across the entire property were completed. The airborne magnetic survey identified significant and multiple northwest-trending structures such as the Saunders and Pillar faults. Between these major northwest structures are dilational zones with coincident geochemical and geophysical anomalies that could represent major targets for porphyry mineralization.

Overview of 2025 exploration program targets

Reef

Fieldwork in 2025 identified key characteristics in the Reef area that are commonly found directly above mineralized porphyry centres. The 2025 surface mapping at Reef shows alteration characteristic of a lithocap which is a large alteration zone often found above gold plus copper porphyry systems.

An induced polarization (IP) survey defined a 2,000-metre-by-1,200-metre chargeability high and resistivity high anomaly that ranges between 200 m to 425 m below surface. This IP anomaly appears to trend west-southwest toward Freeport and Amarc Resources' drill hole JP25120, which intersected 33 metres assaying 0.58 gram per tonne Au, 0.22 per cent Cu and 5.4 g/t Ag from a depth of 564 metres, with the hole bottoming in mineralization. JP215120 lies 200 metres south of the Pil. The Reef target, located 500 to 2,000 metres northeast of the Aurora discovery, will be a priority for the 2026 exploration program.

Pil South

Pil South is located east of the Reef target. The 2025 IP survey defined a 1,200 m by 2,300 m chargeability-high and resistivity-low anomaly, coincident with a magnetic high anomaly and a significant copper and gold soil geochemical anomaly. Drilling in 2024 intersected porphyry mineralization but did not reach sufficient depth or effectively target the area. Historic drill holes failed to test the depths necessary for mineralization.

Gold

The gold target is on the eastern side of the Saunders fault, and in a similar setting to that seen at Aurora and Reef. The 2025 induced polarization (IP) survey identified a 900 m by 1,400 m chargeability-high and resistivity-low anomaly to the northwest and southeast. This anomaly corresponds to a 900 m by 1,800 m multielement soil geochemical signature containing copper, gold, molybdenum, selenium and bismuth, typically found above a porphyry source. Drilling in 1986 at 100 m depth encountered elevated gold and anomalous copper, silver and zinc, indicating a high-sulphidation system commonly associated with porphyry systems.

Copper Ridge

The Copper Ridge target features a significant geochemical soil anomaly for copper, gold, molybdenum and selenium, situated over the Black Lake intrusions. A 2025 IP survey identified a 340 m by 450 m chargeability anomaly, which is part of a larger halo measuring nearly 1,300 metres wide. Initial mapping has identified mineralized structures within the intrusions, and further mapping is planned to locate a potential buried porphyry that could explain the large soil anomaly.

Spruce area

Spruce North has been identified as a promising porphyry target based on mapping and sampling conducted in 2025. Previous work in the area revealed geochemical anomalies of copper, gold, molybdenum and selenium. Recent mapping has uncovered advanced argillic alteration linked to both high and low sulphidation zones, suggesting the potential for a nearby porphyry deposit. Airborne magnetics data also indicate a northwest-trending structure that may act as a dilation zone between the Black and Pillar faults, favourable for porphyry intrusions.

2026 plans

Planning for the 2026 exploration season is under way. The company plans to drill test the Reef target, following up on the 2025 mapping and IP results. Geological mapping and IP surveys will be conducted at Gold, Copper Ridge and Spruce to refine drill targets, and regional mapping and soil sampling will be conducted at other sites.

Both the Pil and Atty exploration programs are fully financed through earn-in agreements with Freeport. Freeport may earn up to an 80-per-cent interest in each property by investing $35-million in exploration and making cash payments of $4.1-million over six years. Finlay will act as the operator for both properties and receive an operator's fee.

Qualified person

Wade Barnes, PGeo, and 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.

Quality control/quality assurance program

Soil samples were sent to the ALS Canada Ltd., North Vancouver, Canada, facility for preparation and analysis. At ALS, soil samples were dried at 60 degrees Celsius and sieved to negative 180 micrometres (negative 80 mesh). The negative-80-mesh fraction for all samples were analyzed for Au at ALS by fire assay fusion of a 30-gram subsample with an ICP-AES finish. Samples were further analyzed for 48 elements using four-acid super trace analysis (ME-MS61).

Rock samples were selective in nature and ranged from mostly grab samples from outcrop and minor float samples. The rock samples were crushed to 70 per cent passing less than two millimetres size, mechanically split (riffle split) with a representative sample being pulverized to 85 per cent passing less than 75 micrometres. Samples were then analyzed for Au at ALS by fire assay fusion of a 30 g subsample with an ICP-AES finish. Samples were further analyzed for 48 elements using four-acid super trace analysis (ME-MS61). ALS is ISO/IEC 17025 accredited.

As part of a comprehensive quality assurance/quality control (QA/QC) program, Finlay control samples were inserted in each soil sample analytical batch at the rate of one standard and/or blank in 25 regular samples. The control sample results were then checked to ensure proper QA/QC.

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.

We seek Safe Harbor.