VANCOUVER, April 4, 2019 /CNW/ - Finlay Minerals Ltd.
(TSXV: FYL) (the "Company") reports that Serengeti Resources
Inc. ("Serengeti") has fulfilled the first anniversary financial
requirements in regards to the option agreement of its ATTY
Property.
The option agreement, which was entered into in March, 2018
(Reference: Finlay NR 01-18 dated March 5, 2018), has an 8 year term and is now
in its second year. The Company looks forward to Serengeti's
summer program on the ATTY with a minimum of $875,000 of work to be conducted.
The results of the 2018 field work conducted by Serengeti on the
ATTY identified 4 drill targets - one of which confirmed and
expanded the drill target identified by the Company's 2007 Titan IP
geophysical survey.
The Company confirms that, per the option agreement, ownership
of the ATTY Property does not get transferred unless and until such
time as all the financial consideration of $1.85 million and work commitments of
$12 million have been met by
Serengeti.
The Company further announces the appointment of Ilona Barakso Lindsay as Vice President,
Corporate Relations. Ms. Lindsay has worked for the Company for
over 10 years and has been responsible for tenure management,
accounting, corporate administration and recently,
financings. She holds a Bachelor of Science degree in
Microbiology from the University of British
Columbia and is a director in the Barakso family
companies.
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
are:
- the Silver Hope Property 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 Mine (71 million
oz. silver, 185 million lbs. copper and 508,000 oz. gold;
Reference:
http://minfile.gov.bc.ca/Summary.aspx?minfilno=093L++001). The
Silver Hope Property surrounds the former Equity Silver
Mine;
- the ATTY Property which is contiguous to the
north side of the Kemess East deposit and adjacent to the Kemess
Underground deposit of Centerra Gold Inc. and which was recently
optioned to Serengeti Resources Inc. (Finlay NR 01-18 dated
March 5, 2018), and
- the PIL Property, which is adjacent to Sable
Resource's Baker Mine, has nine known mineralized zones including
the recently discovered and expanded Pillar East gold-silver
structural system. The Company is focused on the discovery of
copper-gold-molybdenum porphyry systems on 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, P.Eng.
President & CEO
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.
Forward-Looking Information: This news
release includes certain "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable Canadian securities
legislation. All statements in this news release that address
events or developments that we expect to occur in the future are
forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally,
although not always, identified by words such as "expect", "plan",
"anticipate", "project", "target", "potential", "schedule",
"forecast", "budget", "estimate", "intend" or "believe" and similar
expressions or their negative connotations, or that events or
conditions "will", "would", "may", "could", "should" or "might"
occur. All such forward-looking statements are based on the
opinions and estimates of management as of the date such statements
are made. Forward-looking statements in this news release include
statements regarding, among others, the exploration plans for the
ATTY Property. Although Finlay believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploration
successes, and continued availability of capital and financing and
general economic, market or business conditions. These
forward-looking statements are based on a number of assumptions
including, among other things, assumptions regarding general
business and economic conditions, the timing and receipt of
regulatory and governmental approvals, the ability of Finlay and
other parties to satisfy stock exchange and other regulatory
requirements in a timely manner, the availability of financing for
Finlay's proposed transactions and programs on reasonable terms,
and the ability of third party service providers to deliver
services in a timely manner. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Finlay does not assume any
obligation to update or revise its forward-looking statements,
whether as a result of new information, future or otherwise, except
as required by applicable law.
SOURCE Finlay Minerals Ltd.