Finlay Minerals closes $210K private placement

Finlay Minerals Ltd.



News Release

Finlay Minerals Ltd. Announces the Closing of the Non-Brokered Financings

Vancouver, BC – December 19, 2017 – Finlay Minerals Ltd. (TSXV: FYL) (the “Company”) announces the closing of the non-brokered flow-through (“FT Financing”) and non-flow-through (“NFT Financing”) private placement financings today.

A total of 1,275,000 flow-through units at $0.11 per unit were issued for gross proceeds of $140,250 for the FT Financing. Each unit consists of one common share and one-half of one share purchase warrant.

A total of 778,000 non-flow-through units at $0.09 per unit were issued for gross proceeds of $70,020 for the NFT Financing. Each unit consists of one common share and one full share purchase warrant.

Each whole common share purchase warrant (a “Warrant”) is exercisable for the purchase of an additional common share on a non-flow-through basis for a term of 48 months at an exercise price of $0.20 per common share. The warrant term will be accelerated upon written notice from the Company, in the event that the common shares of the Company close at a price of not less than $0.30 per share for at least 20 consecutive trading day at any time beginning April 20, 2018. Upon such notice being provided, the holders of the warrants will have 30 days to exercise the warrants, failing which they will expire and be of no further force or effect.

The funds will be used to conduct deep induced polarization (IP) geophysics, deep drilling on its Silver Hope property and for general working capital purposes.

Finder’s fees totalling $5,296.20 were paid in regards to these FT and NFT Financings; the finder’s fees were paid to PI Financial Corp. and Haywood Securities.

The private placement shares, the warrants and any common shares acquired upon exercise of the warrants will be subject to a four-month hold period expiring April 20, 2018.

About Finlay Minerals Ltd.

Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia. The Company’s properties include:

the Silver Hope which includes porphyry copper-molybdenum mineralization discovered in 2010, along with three silver-copper mineralized zones, in a contiguous trend with the mined-out deposits of the former Equity Silver Mines (71 million oz. silver, 185 million lbs. copper and 508,000 oz. gold),

the ATTY which is contiguous to the north side of the Kemess East deposit of AuRico Metals Inc., and

the PIL Property.

Finlay Minerals Ltd. trades under the symbol “FYL” on the TSX Venture Exchange. For further information and details please visit the Company’s website at www.finlayminerals.com.

On behalf of the Board of Directors,

Robert F. Brown,
President & CEO

For further information, contact:

Finlay Minerals Ltd.
John Barakso, Chairman of the Board
Tel: 604-684-3099
jbarakso@finlayminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.