Finlay Minerals successfully secures $200,000 from Warrant Exercise by a Key Insider
Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF) has received $200,000 from the exercise of 2,000,000 warrants by insider Ilona Barakso Lindsay at $0.10 per warrant. The company recently completed a CSAMT survey on the Silver Hope Property, identifying potential expansion zones and new drill targets. At the SAY Project, exploration revealed the AG Zone with significant copper-silver mineralization, including samples of 0.94% Cu and 18.1 g/t Ag over 9.5 meters. The company has expanded the SAY property by 44% (4,665 hectares) and plans a systematic exploration program for 2025.
Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF) ha ricevuto $200.000 dall'esercizio di 2.000.000 di warrant da parte dell'insider Ilona Barakso Lindsay a $0,10 ciascuno. L'azienda ha recentemente completato un'indagine CSAMT sulla Silver Hope Property, identificando potenziali zone di espansione e nuovi obiettivi di perforazione. Nel SAY Project, l'esplorazione ha rivelato la AG Zone con significativa mineralizzazione di rame-argento, inclusi campioni di 0,94% Cu e 18,1 g/t Ag su 9,5 metri. L'azienda ha ampliato la proprietà SAY del 44% (4.665 ettari) e prevede un programma di esplorazione sistematica per il 2025.
Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF) ha recibido $200,000 de la ejecución de 2,000,000 de garantías por parte de la interna Ilona Barakso Lindsay a $0.10 cada una. La compañía recientemente completó un estudio CSAMT en la Silver Hope Property, identificando zonas potenciales de expansión y nuevos objetivos de perforación. En el SAY Project, la exploración reveló la AG Zone con significativa mineralización de cobre-plata, incluyendo muestras de 0.94% Cu y 18.1 g/t Ag a lo largo de 9.5 metros. La empresa ha ampliado la propiedad SAY en un 44% (4,665 hectáreas) y planea un programa de exploración sistemática para 2025.
Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF)는 내부자인 Ilona Barakso Lindsay가 1웰당 $0.10에 2,000,000개의 워런트를 행사하여 $200,000을 받았습니다. 회사는 최근 Silver Hope Property에서 CSAMT 조사를 완료하고 잠재적인 확장 지역과 새로운 시추 목표를 확인했습니다. SAY Project에서 탐사는 9.5미터 구간에서 0.94% Cu와 18.1 g/t Ag 샘플을 포함하여 중요한 구리-은 광맥이 있는 AG Zone을 발견했습니다. 회사는 SAY 자산을 44% (4,665 헥타르) 확장하고 2025년을 위한 체계적인 탐사 프로그램을 계획하고 있습니다.
Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF) a reçu 200 000 $ de l'exercice de 2 000 000 de bons de souscription par l'insider Ilona Barakso Lindsay à 0,10 $ chacun. L'entreprise a récemment achevé une enquête CSAMT sur la Silver Hope Property, identifiant des zones d'expansion potentielles et de nouveaux objectifs de forage. Dans le SAY Project, l'exploration a révélé la zone AG avec une minéralisation significative de cuivre-argent, y compris des échantillons de 0,94 % Cu et 18,1 g/t Ag sur 9,5 mètres. L'entreprise a élargi la propriété SAY de 44 % (4 665 hectares) et prévoit un programme d'exploration systématique pour 2025.
Finlay Minerals (TSXV: FYL) (OTCQB: FYMNF) hat $200.000 aus der Ausübung von 2.000.000 Warrants durch die Insiderin Ilona Barakso Lindsay zu je $0,10 erhalten. Das Unternehmen hat kürzlich eine CSAMT-Untersuchung auf der Silver Hope Property abgeschlossen und potenzielle Expansionsgebiete sowie neue Bohrziele identifiziert. Im SAY Project enthüllte die Erkundung die AG Zone mit signifikanter Kupfer-Silber-Mineralisierung, einschließlich Proben von 0,94% Cu und 18,1 g/t Ag über 9,5 Meter. Das Unternehmen hat das SAY-Eigentum um 44% (4.665 Hektar) erweitert und plant ein systematisches Explorationsprogramm für 2025.
- Secured $200,000 in funding through warrant exercise above market price
- Discovery of AG Zone with high-grade mineralization (0.94% Cu, 18.1 g/t Ag over 9.5m)
- 44% expansion of SAY property (4,665 hectares)
- Insider investment demonstrates management confidence
- Current market price is below warrant exercise price of $0.10
- Additional exploration funding may be needed for 2025 program
An insider of the Company, Ilona Barakso Lindsay, exercised the Warrants, which were acquired through a private placement transaction completed in 2023, with an exercise price of
Ms. Lindsay acquired these securities for investment purposes and may choose to exercise the remaining warrants in the warrant series at her discretion.
No new insiders or control persons were created with this warrant exercise.
"I am very pleased to continue supporting Finlay despite the challenging market conditions. Our recent exploration success on the SAY Project demonstrates our commitment to creating shareholder value," stated Ms. Lindsay.
"In 2024, we completed a Controlled Source Audio-frequency Magnetotellurics (CSAMT) survey on the Silver Hope Property, which indicates the potential expansion of the Main and West Cu-Mo porphyry mineralized zones. This survey also identified East Trends 1 & 2 and Dina East as viable new drill targets.* Additionally, we acquired the highly prospective copper and silver SAY Project in northern
A recently completed program on the SAY Project discovered the AG Zone - a 200-meter by 200-meter zone characterized by multi-directional copper-silver (Cu-Ag) mineralized brittle fracturing. Notably, a 9.5-meter chip sample assayed at
Due to these highly encouraging results, the Company staked an additional 4,665 hectares (ha), increasing the size of the property by
References:
* Reference Finlay News Release NR10-24 dated July 30, 2024 entitled: "Finlay Minerals confirms Targets on the Silver Hope from completed CSAMT Geophysical Survey."
** Reference Finlay News Release NR13-24 dated November 20, 2024 entitled: "Finlay Minerals samples
Qualified Person:
Wade Barnes, P. Geo. 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.
About Finlay Minerals Ltd.
Finlay is a TSXV company focused on exploration for base and precious metal deposits with four properties in northern British Columbia. In addition to the SAY, the Company has two Toodoggone Properties and the Silver Hope Property surrounding the past-producing Equity Silver Mine.
Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. 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 & Director
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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, including all statements regarding future exploration plans at the Company's mineral properties, 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. 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, continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on several assumptions, including, among other things, assumptions regarding general business and financial 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.
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SOURCE Finlay Minerals Ltd.
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