Mr. Richard Barnett reports

ICONIC ANNOUNCES NEW OTCQB TRADING SYMBOL

Iconic Minerals Ltd. will commence trading under a new OTCQB symbol, ICMFF, on Thursday, Oct. 5, 2023.

The company is currently focused on the exploration and development of its two prospective lithium brine properties located in Nevada.

About the Grass Valley project

The Grass Valley property is a lithium exploration project consisting of 997 placer claims covering an area of 80 square kilometres (31 square miles). Located approximately 60 kilometres (36 miles) northeast of Austin, Nev., the property expresses indicators of a potential lithium brine system. The large, enclosed basin is surrounded by mountains with ample felsic volcanics and intrusives, and has active hot spring systems on three sides of the valley, and surface salt lithium assays as high as 510 parts per million lithium and an MT (magneto-telluric) survey, run by Fritz Geophysics, shows an interpreted major brine zone extending from approximately 500 metres (1,600 feet) to over 1,000 metres (3,300 feet) below the surface.

About the Smith Creek project

The Smith Creek project is located within Smith Creek Valley in Nevada, which is approximately 60 kilometres (37 miles) long and 16 kilometres (10 miles) wide. Quartz-rich volcanic tuffs containing anomalous amounts of lithium occur within and adjacent to the valley. Surface sampling around hot springs on patented ground just off the claim block assayed a maximum of 470 parts per million lithium. The gravity low within the valley is 16 kilometres (10 miles) long and the current estimates of depth to basement rocks range from 1,300 to 1,500 metres (4,200 to 5,000 feet). The current claim block covers an area of 67 square kilometres (26 square miles) with potential for brine systems as well as sediment resources.

Qualified person

Richard Kern, certified professional geologist, a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Kern is not independent of the company as he is the chief executive officer of Iconic.

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