Finlay Minerals Announces Fully Funded 2026 Exploration Programs at PIL and ATTY - Freeport to Fund Priority Drilling at PIL and Continued Work at ATTY
VANCOUVER, BC, May 13, 2026 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce a fully funded $4.3 million 2026 exploration program for its PIL and ATTY properties in the Toodoggone District pursuant to its earn-in agreements with Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport"). (1) Building on a highly successful 2025 field season that generated multiple priority targets, the 2026 program is designed to advance drilling at PIL and continue systematic fieldwork at ATTY, underscoring the scale and discovery potential of both properties.
The 2026 program at PIL will focus on drilling the highest-priority targets generated in 2025, particularly Reef, PIL South and Gold. At ATTY, planned work will continue to refine targets through induced polarization ("IP") surveying, mapping and surface sampling.
At Reef, drilling will test an IP anomaly that appears to trend west-southwest toward Freeport and Amarc Resources Ltd.'s ("Amarc") drill hole JP25120, which intersected 33 meters ("m") grading 0.58 g/t Au, 0.22% Cu and 5.4 g/t Ag from 564 meters depth(2), with the hole ending in mineralization. JP25120 is located 200 m south of the PIL boundary. Situated 500 to 2,000 m northeast of the AuRORA discovery, Reef ranks among the Company's highest-priority targets for 2026.
PIL South, located east of Reef, represents another significant target. The 2025 IP survey outlined a 1,200 m by 2,300 m chargeability-high and resistivity-low anomaly coincident with a magnetic high and a strong copper-gold geochemical anomaly. While 2024 drilling intersected porphyry mineralization, the target was not tested at sufficient depth.
The Gold target, located east of the Saunders Fault in a setting comparable to AuRORA and Reef, further supports the broader discovery potential at PIL. An IP survey identified a 900 m by 1,400 m chargeability-high and resistivity-low anomaly coincident with a 900 m by 1,800 m multi-element soil geochemical signature containing copper, gold, molybdenum, selenium and bismuth, suggesting a possible porphyry source. Historic shallow drilling also returned elevated gold and anomalous copper, silver and zinc.
2026 PIL Program Highlights:
- 2,800 meters of diamond drilling planned to test the high-priority Reef, PIL South and Gold targets generated by the 2025 program.
- Continued fieldwork and mapping across secondary targets identified in 2025, including Copper Ridge, Silver Ridge, NW, Central and Spruce, to build an even stronger target pipeline.
- Finlay continues to act as Operator on PIL and will earn an Operator's Fee.
- Total approved 2026 PIL budget of $3.5 million.
2026 ATTY Program Highlights:
- Up to 16 km of IP surveys planned across the Wrich, Valley, and Pyramid East & West Zones to define and prioritize drill-ready targets
- Continued mapping and surface sampling aimed at refining drill targets across Wrich, Wrich Hill, Pyramid East & West and Valley Zones.
- Finlay continues to act as Operator on ATTY and will earn an Operator's Fee.
- Total approved 2026 ATTY budget of $800,000, including $300,000 of unspent residual from the 2025 ATTY exploration budget.
The Company further reports receipt of all Year 1 cash payments and completion of all Year 2 expenditures by Freeport. Both the PIL and ATTY Earn-In Agreements remain in good standing and are now in Year 2 of their 6-year terms, providing Finlay with a strong foundation for continued advancement of these highly prospective assets.
PIL Area of Interest Adds Strategic Upside:
Freeport may acquire an 80% interest in the PIL Property from the Company upon completion of the 6-year PIL Earn-In Agreement.(1) Freeport is also party to a joint venture agreement with Amarc on the neighbouring and contiguous JOY Project, underscoring PIL's strategic position within an active and emerging discovery corridor. Refer to the PIL Property Map.
Approximately 32% (42.34 km2) of the PIL Property mineral claims area lie within an Area of Interest ("AOI") under the Freeport-Amarc Agreement. Amarc has exercised its right to bring the AOI into the JOY Joint Venture held through Aurora Minerals Ltd., in which Freeport holds a 60% interest and Amarc holds a 40% interest. Freeport is responsible for funding expenditures required under the PIL Property Earn-In Agreement with Finlay, and expenditures incurred within the AOI will also be credited toward the JOY Joint Venture Agreement with Amarc. If Freeport completes its earn-in on PIL and acquires its 80% interest, Amarc could hold up to a 24% interest in the AOI portion of the PIL Property under the Freeport-Amarc joint venture.
Freeport's Earn-In Agreements with Finlay are in Year 2 of their 6-year terms.
References:
- Finlay news releases NR 03-25 dated April 17, 2025, titled: "Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties" and NR 05-25 dated May 2, 2025 and entitled: "Finlay Minerals Receives TSX Venture Exchange Approval for PIL Earn-In Agreement."
- Amarc Resources Ltd. news release dated January 23, 2026 titled: "Amarc and Freeport Continue Expanding High Grade Aurora Copper-Gold-Silver Deposit".
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-listed mineral exploration company advancing a portfolio of copper-gold porphyry and gold-silver epithermal projects in northern and central British Columbia, including ATTY, PIL, JJB, SAY and Silver Hope. The Company's properties are located in highly prospective mineral districts marked by recent exploration success, infrastructure development and strong potential for new discoveries.
Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information, please visit the Company's website at www.finlayminerals.com.
On behalf of the Board of Directors,
Robert F. Brown,
Executive Chairman of the Board
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 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 PIL & ATTY Properties. 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, and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. 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.
For further information, contact: Finlay Minerals Ltd., Ilona Lindsay, President, CEO & Director, Tel: 604-684-3099, [email protected]
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