$1,000,000 Private Placement with MineralFields Group Closes

    VANCOUVER, April 12 /CNW/ - The Board of Directors of Finlay Minerals
Ltd. ("The Company") is pleased to announce the closing of a non-brokered
private placement of $1,000,000 through the sale of 4,347,824 flow-through
units at $0.23 per unit with the MineralFields Group. Each flow-through unit
consists of 1 flow-through common share, and one non-flow-through share
purchase warrant (with a term of 24 months, and an exercise price of $0.35
until April 10, 2008 and $0.50 until April 10, 2009.
    Limited Market Dealer Inc. will be paid a finder's fee in the amount of
4% in the form of 173,913 non-flow through shares and an Agent's Option
consisting of 347,826 Units exercisable for two years at $0.20 per Unit with
each Unit consisting of 347,826 non flow-through shares and 347,826 warrants
with each warrant exercisable to acquire one non flow-through share in yr 1 at
$0.35 and at $0.50 in year 2.
    The Units and the finder's shares will have a hold period expiring
August 12, 2007.
    We are very pleased to be entering into this relationship with the
MineralFields Group. This is an important milestone in the growth of the
Company and we look foward to working with the MineralFields Group as we
develop the Silver Hope and Pil North properties, B.C.

                       About MineralFields and Pathway

    MineralFields Group (a division of Pathway Asset Management) is a
Toronto-based mining fund with significant assets under administration that
offers its tax-advantaged super flow-through limited partnerships to investors
throughout Canada during most of the calendar year, as well as hard-dollar
resource limited partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution of
structured products and mutual funds. Information about the MineralField Group
is available at www.mineralfields.com

    Finlay Minerals Ltd. trades under the symbol "FYL" on the TSX Venture
Exchange. Warner Gruenwald, a Qualified Person as defined by National
Instrument 43-101, is supervising the exploration program.
    For further information and details please visit the Company website at

    On behalf of the Board of Directors,

    John Barakso

    John Barakso, Director

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or the accuracy of this release.

For further information:

For further information: 912 - 510 West Hastings St, Vancouver, B.C.,
Canada, V6C 3B6, Telephone: (604) 684-3099; Fax: (604) 684-3098

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890