REPORT OF ACQUISITION OF COMMON SHARES OF FINLAY MINERALS LTD.

VANCOUVER, BC, Aug. 2, 2023 /CNW/ - John Andrew Barakso ("Barakso") reports that following the acquisition of 100,000 common shares (the "Common Shares") of Finlay Minerals Ltd. ("Finlay") on the TSX Venture Exchange on July 14, 2022 at $0.08 per Common Share for total consideration of $8,000 (the "Transaction"), Barakso had acquired deemed beneficial ownership of 3,421,692 Common Shares of Finlay.

Immediately prior to the Transaction, Barakso had deemed beneficial ownership of 3,321,692 Common Shares representing 2.60% of the then deemed issued and outstanding Common Shares. The 3,321,692 Common Shares, together with 9,395,500 Common Shares owned by a deemed joint actor under applicable securities legislation, totaled 12,717,192 Common Shares representing 9.97% of the then deemed issued and outstanding Common Shares.

Immediately after the Transaction, Barakso had deemed beneficial ownership of 3,421,692 Common Shares representing 2.68% of the then deemed issued and outstanding Common Shares. These Common Shares, together with the Common Shares owned by the deemed joint actor, totaled 12,817,192 Common Shares representing 10.05% of the then deemed issued and outstanding Common Shares, an increase of 0.08% in respect of the aggregate beneficial ownership of Common Shares.

Barakso acquired the Common Shares for investment purposes.  Barakso may, from time to time and at any time, acquire additional Common Shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of Finlay in the open market or otherwise, and reserves the right to dispose of any or all Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Finlay and other relevant factors.

A copy of the related early warning report filed under applicable securities laws is available under Finlay's profile on SEDAR (www.sedarplus.ca) or from Barakso at [phone].

"John Andrew Barakso"

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John Andrew Barakso

SOURCE Finlay Minerals Ltd.

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