Mr. Richard Kern reports

ICONIC MINERALS SUBMITS FIRST CORE SAMPLES FOR ANALYSIS FROM 2026 PROGRAM AT NEW PASS GOLD PROPERTY, NEVADA

Drilling continues at Iconic Minerals Ltd.'s New Pass gold property in Churchill county, Nevada, and core samples from the first six drill holes of the 2026 program have been prepared and submitted for analysis. The 2,140-hectare property is located along a prospective Carlin-type gold trend approximately 150 miles (240 kilometres) east of Reno.

To date, more than 1,900 feet (580 metres) of HQ core drilling has been completed from nine drill sites. All nine holes drilled to date have intersected the limestone unit that hosts the Carlin-type gold mineralization targeted by the program. The core correlates well with nearby historical drill logs and is being quartered to ensure material remains for future metallurgical testing. Samples from the first six drill holes have been submitted to ALS in Reno for gold and silver analysis. In addition, a few representative holes will undergo multielement analysis to provide additional geochemical information on the mineralization system.

Iconic Minerals' president and chief executive officer, Richard Kern, stated: "The drill program at New Pass continues to advance as planned. Our team has streamlined core processing and sampling to move material to the laboratory efficiently while maintaining rigorous quality standards. American Drilling has done an excellent job under challenging drilling conditions typical of Carlin-type systems. We look forward to receiving the assay results and integrating them into our understanding of the deposit."

New Pass drilling exploration summary

• Drilling has been completed at nine sites with pads constructed for an additional 11 holes. All holes are being drilled at north 70 degrees east, negative 45 degrees. The holes are designed to test the southwest-dipping mineralized zone, which is up to 250 feet (76 metres) thick. The stratigraphic section consists of rhyolite tuff overlying limestone. Gold-silver mineralization occurs primarily along the contact between the rhyolite tuff and limestone units and extends into the underlying limestone. The limestone is often altered to jasperoid and silicification of the contact zone is intense. The core is being securely transported to Reno, Nev., for logging and core cutting before being sent to ALS in Reno for fire assay as 10-foot (3.05 m) samples.

About the New Pass gold property

The New Pass gold property is located within Nevada's Basin and Range province along the highly prospective Sulfur-Lovelock-Austin structural gold trend, a region recognized for hosting Carlin-type gold systems.

The property was initially explored in 1980, when a stream sediment arsenic anomaly led to the discovery of a gold-bearing jasperoid system. Since that time, more than 131,000 feet (40,000 metres) of drilling across 329 drill holes have identified significant intervals of Carlin-type gold-silver mineralization, leading to the delineation of the New Pass Au-Ag (gold-silver) deposit.

The New Pass Au-Ag deposit represents a classic Carlin-type system, with mineralization hosted primarily within silicified rocks and jasperoid developed in decalcified limestone of the Triassic Lower Augusta Mountain formation. A major north-northwest- to south-southeast-trending, west-dipping structure separates Triassic calcareous rocks from younger Tertiary volcanic rocks and acted as a major conduit for hydrothermal circulation, alteration and gold-silver deposition.

The deposit outcrops at surface and has been drilled along approximately 0.8 mile (1.25 kilometres) of strike length, with the deepest pierce point reaching a vertical depth of approximately 1,000 feet (295 metres). The shallowly west-dipping tabular deposit remains open along strike in both directions and at depth, providing significant exploration upside.

Inferred resource summary (Paul D. Noland, CPG, Sept. 3, 2010):

• Total short tons: 15,515,488;
• Average grade AuEq (gold equivalent): 0.022 ounce/ton;
• Contained AuEq ounces: 341,750;
• Average silver grade: 0.202 oz/ton;
• Contained silver ounces: 3,139,054;
• Average gold grade: 0.018 oz/ton;
• Contained gold ounces: 282,986.

The New Pass deposit hosts an inferred mineral resource that demonstrates the scale and continuity of the mineralized system identified to date. Historical National Instrument 43-101 reporting outlines an inferred resource containing both gold and silver mineralization within a near-surface, oxide-dominant system. This existing resource provides a technical foundation for continued exploration, with mineralization remaining open along strike and at depth. The combination of a defined resource and multiple untested targets supports the potential for meaningful resource growth through continued exploration.

Qualified person

Richard Kern, certified professional geologist, a qualified person as defined by NI 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.

About Iconic Minerals Ltd.

Iconic Minerals is a Nevada-focused gold exploration company advancing high-potential assets in proven mining jurisdictions. The company's flagship New Pass gold property hosts a defined resource with significant expansion potential. Iconic is committed to disciplined exploration, technical advancement and unlocking long-term shareholder value through systematic project development.

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