File: '\\swfile\EmailIn\20260716 173032 Attachment 20260716 ICON NR - Cancelled Shares for Debt.docx'

Iconic Gold Cancels Shares-for-Debt Transaction

VANCOUVER, BC, July 16, 2026 - International Iconic Gold Exploration Corp. ("Iconic Gold" or the "Company") (TSXV: ICON) announces that, following consideration by management and the Board of Directors, it will not be proceeding with the shares-for-debt transaction, as previously announced on June 8, 2026, involving the proposed issuance of 5,075,000 common shares to certain creditors in settlement of outstanding accounts payable and loans totaling CAD$355,250.

On behalf of the Company,

Shashank Bhatt

President & CEO

(236) 266-5174

Contact Information:

Email: info@iconicgold.com

Website: www.iconicgold.com

For further information regarding International Iconic Gold Exploration Corp., please refer to the Company's filings available on SEDAR+ (www.sedarplus.ca) or at Iconic Gold's Website (www.iconicgold.com).

ABOUT INTERNATIONAL ICONIC GOLD EXPLORATION CORP.

International Iconic Gold Exploration Corp. (TSXV: ICON) is a Canadian precious metals exploration company focused on the acquisition, exploration, and development of gold and silver assets. The Company is managed by an experienced team of mining and capital markets professionals committed to creating shareholder value through disciplined asset selection, responsible exploration, and transparent corporate governance. For more information, please visit www.iconicgold.com or contact the Company at info@iconicgold.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. Forward-looking statements are often, but not always, identified by the use of words such as "anticipates", "plans", "expects", "intends", "believes", "will", "may", "should", "could", "would", "estimates", "targets", or similar expressions. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release and the Company undertakes no obligation to update or revise publicly any forward-looking statements except as required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.