Mr. Rob Abenante reports

ICONIC GOLD COMPLETES SALE OF EL CARMEN ASSET

Further to International Iconic Gold Exploration Corp.'s news release dated Jan. 31, 2023, and April 13, 2023, it has now completed the sale of its oil and gas asset, El Carmen, to BGX -- Black Gold Exploration Corp. (BGX) in exchange for securities of BGX. "This transaction aligns with our strategic vision to optimize our portfolio and focus on our gold project," commented Iconic Gold chief executive officer Robert Abenante. "The deal with BGX positions our company to participate in future growth and potential upside of the El Carmen property, without having to divert our resources away from our gold projects."

Pursuant to the terms of the agreement, the company received 100,000 common shares in the capital of BGX at a deemed price of $1.00 per share, for a deemed transaction value of $100,000. An additional two million BGX shares at a deemed price of $1.00 per share have been issued to the company and such shares are being held in escrow until certain milestones are met in connection with the property. These milestones include that: (i) one million BGX shares will be released from escrow upon the property entering production of natural gas; and (ii) one million BGX shares will be released from escrow upon the property entering production of oil.

The transaction is an arm's-length transaction and is another step for the company continuing on its path forward with a specific focus on its gold assets.

We seek Safe Harbor.