Mr. Richard Barnett reports

ICONIC MINERALS LTD. CLOSES NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $3,750,000

Iconic Minerals Ltd. has filed for final acceptance from TSX Venture Exchange its previously announced non-brokered private placement (see news release dated Jan. 5, 2026) which consisted of offering up to 30 million units at a price of 12.5 cents per unit for aggregate proceeds of up to $3.75-million. Each unit consisted of one common share and one 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.

Certain eligible finders will be paid in connection with the financing in accordance with policies of the TSX-V to a total of $57,881 payable in cash and a total of 463,000 finder warrants. Each finder warrant is exercisable to acquire one common share of the company at 40 cents per share for a period of two years from the date of issuance and shall include the warrant acceleration clause terms.

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.