Finlay Minerals Ltd. announced that Cascadia Minerals Ltd. (formerly ATAC Resources Ltd.), the optionor of the PIL Property, has announced results of their Year 2 surface exploration work on the PIL Property, located in the heart of the prolific Toodoggone porphyry copper-gold and epithermal precious metals district of northern British Columbia. Work in 2023 included a TITAN deep induced polarization ("IP") geophysical survey at the PIL South target, as well as prospecting and mapping focused primarily in the underexplored northeastern portion of the property, at the Spruce target. Pursuant to the option agreement, Cascadia may exercise the option and acquire a 70% interest in the PIL Property for consideration totaling $1.9 million and $12 million of work in staged amounts on or before December 31, 2026.

Following the exercise of the option, Cascadia and Finlay will hold interests in the Property of 70% and 30%, respectively, and a joint venture will be formed. The PIL Property is in the Toodoggone Mining District of British Columbia and contains several mineralization types including epithermal gold-silver, porphyry copper-gold-molybdenum and skarn gold. The PIL is neighboured by TDG Gold Corporation's Baker-Shasta Property, Canasil Resource's Brenda Property, AMARC Resource's Joy Property and Skeena Resource's Sofia Property.

The PIL Property is also 25 km northwest of Centerra Gold's Kemess project[GD1] and 15 km east of Thesis Gold's Lawyer's Project.