Mr. Richard Barnett reports

ICONIC ANNOUNCES AMENDMENT OF STOCK OPTIONS AND NI 43-101 TECHNICAL REPORT UPDATE

The board of directors of Iconic Minerals Ltd., subject to applicable shareholder and TSX Venture Exchange approvals, has approved the amendment of an aggregate of eight million incentive stock options previously granted to certain directors, officers and consultants of the company under the company's 2014 stock option plan. The amended options were originally granted on Sept. 7, 2022, at an exercise price of 11 cents per share and are exercisable until Sept. 7, 2025. Pursuant to the option amendments, the exercise price of the amended options has been amended to five cents per share, and there is no change to the expiry date.

Additionally, Iconic is pleased to announce the completion of updated NI 43-101 technical reports on both the Smith Creek and Grass Valley projects. The Smith Creek report has been updated to include a new MT survey that has discovered a new area of potential thick brine that led the Company to expand its claim block. Grass Valley has included a new mud rotary drill hole within its report. Both reports contain updated budgets for recommended additional geophysics, including seismic surveys, to better define drill targets. Both reports are pending NI 43-101 approval and may undergo some revisions.

About Iconic Minerals Ltd.

Iconic is a mineral exploration and development company with several quality lithium and gold exploration projects located throughout Nevada, USA.

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