Finlay Minerals Ltd. - $1,200,000 Private Placement Initiated

    VANCOUVER, March 26 /CNW/ - The Board of Directors of Finlay Minerals
Ltd. ("The Company") is pleased to announce a flow-through private placement
of 4,347,826 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 in year 1 and $0.40 in year 2) for total gross
proceeds of up to $1,000,000. Limited Market Dealer Inc. will be paid a
finder's fee in the amount of 4% in the form of shares and non-flow-through
finder's fee warrants equal to 8% of the number of units subscribed for, at an
exercise price of $0.20 per unit, with each unit consisting of a
non-flow-through common share and a warrant on the same terms as the unit
    The Company also announces a non-flow through private placement of
1,000,000 shares at $0.20 per share for total gross proceeds of $200,000.
    Funds will be used for exploration programs on the Silver Hope and Pil
North properties, B.C.

    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, 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

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