Vancouver, BC — May 21, 2013 — Finlay Minerals Ltd. (TSXV:FYL) (the “Company”) is pleased to announce a flow-through non-brokered private placement of up to $100,000 (the “FT Financing”). The FT Financing will consist of 1,250,000 units. Each flow-through unit would consist of 1 common share at $0.08 and one-half (1/2) of one non-flow-through share purchase warrant (with a term of 24 months, and an exercise price of $0.15); the warrant term will reduce to 30 days on notice that FYL has closed at not less than $0.65 cents for at least 20 consecutive trading days. The flow-through shares would entitle holders to a 100% CEE deduction, as well as 15% federal tax credit, and BC 20% tax credit for grass roots exploration.
The flow-through funds will be used for ground survey work of the Silver Hope property and specifically, the three new ZTEM-identified targets; non-flow through funds will be used for working capital.
The 2012 ZTEM airborne survey of the Silver Hope Property was the first property-wide survey conducted. The next logical exploration step is a ground survey of the entire property which can then be overlaid on the ZTEM survey data helping to define and hone the next set of drill targets.
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