Mr. Richard Barnett reports

ICONIC ANNOUNCES AMENDED FINANCING TERMS

Iconic Minerals Ltd. will proceed with its previously announced non-brokered private placement (see news release dated Oct. 17, 2025) on amended terms. Under the amended terms, the non-brokered private placement will consist of up to 30 million units at a price of 12.5 cents per unit for gross proceeds of up to $3.75-million. Each unit will consist of one common share and one full common share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share at an exercise price of 17 cents per share for a period of two years from the date of issuance. In the event that the company's common shares trade at a closing price of 35 cents per common share or greater for a minimum period of 10 non-consecutive trading dates commencing four months from the closing of the financing, then the company may accelerate the expiry date of the warrants by providing notice to the holders thereof, and, in such case, the warrants will expire on the 30th day after the date on which such notice is given by the company.

Proceeds raised will be used toward expenditures required for drilling and advancement of the company's exploration program on its New Pass gold property in Nevada, and for general working capital purposes.

The company may pay finders' fees in connection with the financing in accordance with the rules and policies of the TSX Venture Exchange, and all securities issued in the financing are subject to a four-month-and-a-day hold period in Canada. Closing of the financing will be subject to the approval of the TSX-V.

We seek Safe Harbor.