Early Warning Report for John Barakso Filed Pursuant to National Instrument 62-103

VANCOUVER, Oct. 18, 2018 /CNW/ - John Barakso announced today that he has acquired, indirectly through Baril Developments Ltd. ("Baril"), 2,857,143 common shares ("Shares") of Finlay Minerals Ltd. ("Finlay") at a price of $0.05 per Common Share through the exercise of 2,857,143 previously issued common share purchase warrants (the "Warrants") of Finlay.

Immediately prior to the exercise of the Warrants, (a) Mr. Barakso held, directly and indirectly, 35,761,110 Common Shares, representing approximately 48.22% of the total issued and outstanding Common Shares on a non-diluted basis; and (b) assuming the exercise in full of all of the convertible securities of Finlay held directly or indirectly by Mr. Barakso, Mr. Barakso would have held, directly and indirectly, 40,626,585 Common Shares, representing approximately 48.46% of the total issued and outstanding Common Shares of Finlay on a fully-diluted basis.

Immediately following the exercise of the Warrants, (a) Mr. Barakso holds, directly and indirectly, 38,618,253 Common Shares, representing approximately 50.14% of the total issued and outstanding Common Shares on a non-diluted basis; and (b) assuming the exercise in full of all of the convertible securities of Finlay held directly or indirectly by Mr. Barakso, Mr. Barakso would hold, directly and indirectly, 40,626,585 Common Shares, representing approximately 48.46% of the total issued and outstanding Common Shares of Finlay on a fully-diluted basis.  Accordingly, the exercise of the Warrants resulted in no change in Mr. Barakso's securityholding percentage in Finlay on a fully-diluted basis.

The Common Shares were acquired by Mr. Barakso for investment purposes. In the future, Mr. Barakso may, directly or indirectly, acquire additional Common Shares of Finlay or dispose of such shares subject to a number of factors, including, without limitation, general market and economic conditions and other investment and business opportunities available.

SOURCE John J. Barakso

A copy of the Early Warning Report to which this press release relates can be obtained from Ilona Lindsay at 604-684-5133 or on the SEDAR profile of Finlay Minerals Ltd. at www.sedar.com.