Mr. Richard Kern reports

ICONIC INITIATES 2018 EXPLORATION PROGRAM AT BONNIE CLAIRE PROJECT, NEVADA AND GRANTS STOCK OPTIONS

Iconic Minerals Ltd. has initiated its 2018 exploration program at the Bonnie Claire project located in southern Nevada. The primary goals of the program are to produce a National Instrument 43-101-compliant initial resource report on the lithium-rich sediments of the basin and provide additional bulk samples for further tests utilizing St-Georges Eco-Mining's new proprietary extraction and purification technology.

Drilling permits for the project are being amended to allow some adjustment in the location of Iconic's third deep hole to increase the resource area. This hole has a proposed depth of 450 metres (1,500 feet) using mud-rotary drilling. All drill cuttings will be collected using three-metre (10-foot) sample intervals and multielement analysis done on each sample. The bulk samples will be securely stored and shipped to SX's labs as needed to advance to defining the resource at Bonnie Claire.

Additional shallow lithium brine targets

Surface sampling in the southern portion of the project area at Bonnie Claire continues to define linear lithium high anomalies thought to be associated with shallow structures that may host lithium brine. After additional work, including geophysics, several shallow drill holes will be permitted to test the interpreted faults.

If significant lithium brines are discovered they will be incorporated into St-George's continuing lithium-recovery testing program.

Grant of stock options

The company further announces the grant, pursuant to its 10-per-cent rolling stock option plan that was ratified and approved by shareholders on Feb. 16, 2017, and accepted for filing by the TSX Venture Exchange on Feb. 22, 2017, of options to certain eligible directors, officers and consultants to purchase a total of three million common shares, exercisable in whole or in part on or before Jan. 8, 2020, at an exercise price of 25 cents per share.

The Bonnie Claire lithium property characteristics: The property is located within Sarcobatus valley that is approximately 30 kilometres (19 miles) long and 20 km (12 miles) wide, the associated drainage basin covers an area of 57 square km (22 square miles). Quartz-rich volcanic rocks, that contain anomalous amounts of lithium, occur within and adjacent to the drainage basin. Geochemical analysis of the local salt flats has yielded lithium values up to 340 parts per million. The gravity low within the valley is 20 km (12 miles) long, the current estimates of the depth to bedrock range from 600 metres to 900 metres (2,000 feet to 3,000 feet). The current claim block covers the brine-bearing potion of the gravity low as defined by geophysics.

Richard Kern, certified professional geologist (No. 11494) and chief executive officer of Iconic, is the qualified person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.

We seek Safe Harbor.