Finlay Minerals Ltd.TSXV: FYL

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

· Issued by Finlay Minerals Ltd. via CNW

VANCOUVER, March 28 /CNW/ - Further to News Release dated March 26, 2007 the 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 $0.50 in year 2 rather than $0.40 in year 2 as earlier announced) for total gross proceeds of up to $1,000,000.

For further information and details please visit the Company website at www.finlayminerals.com

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.