Iconic Minerals Ltd. (TSX-V: ICM) (OTCQB: ICMFF) (FSE: YQG)  announces that the first assay results have been received for the New Pass gold property in Churchill County, Nevada. Results include gold, silver, and multi-element assays from the first six drill holes completed during the 2026 exploration program. The program was designed to test the up-dip extensions of known mineralization while infilling selected deeper sections. The initial assay results confirm significant near-surface intervals of gold and silver mineralization that are not included in the current resource. The 2,140-hectare property is located along a prospective Carlin-type gold trend approximately 150 miles (240 km) east of Reno.

The 10 foot (3 m) sample intervals were submitted to ALS Reno with standards, blank, and repeat samples. Five of the six holes returned continuous mineralized intervals ranging from 70 to 150 feet (21 to 46 m) of leachable-grade gold and silver mineralization (approximately 0.01 oz/ton gold). For context, cut-off gold grades for the oxidized portion of the Carlin style gold mines Barrick operates are as low as 0.21 g/t (0.006 oz/ton) as of March, 2025. https://minedocs.com/28/Carlin-TR-12312024.pdf Hole NP2604 was terminated before reaching the target horizon and therefore did not intersect the mineralized zone. The results are shown in the table below. All holes were drilled at a 45-degree dip to best capture the true thickness of the perpendicularly dipping mineralization.

Iconic Minerals’ President and CEO, Richard Kern stated; “These initial assay results meet our expectations for both gold and silver grade and intercept thickness. Drilling the up-dip extensions of mineralization along the current 0.8 mile (1.25 km) strike length has the potential to significantly expand the existing resource. All mineralized shallow holes intercepted more than 70 feet (21m) of gold and silver mineralization beginning within the first 50 feet (15m) of drilling.”

New Pass Drilling Exploration Summary

15 core holes have been drilled and Phase 1 drilling has been completed. A second batch of drill core has been submitted to ALS for analysis, with the final batch currently being cut and sampled. Initial metallurgical testing will then be undertaken to confirm the leachability of the mineralized intervals. Because all of the holes are relatively shallow leachable recoveries are expected to be good. The multi-element results will be examined for critical elements that might be recoverable. The results will be incorporated into updated geological interpretations to estimate the potential size and grade of the mineralized extensions. If warranted, additional drilling may be recommended.

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 m) of drilling across 329 drill holes have identified significant intervals of Carlin-type gold and silver mineralization, leading to the delineation of the New Pass Au-Ag 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 and silver deposition.

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

Inferred Resource Summary (Paul D. Noland, CPG, September 3, 2010)

• Total Short Tons: 15,515,488
  • Average Grade AuEq: 0.022 oz/ton (0.75 g/t)
  • Contained AuEq Ounces: 341,750
  • Average Silver Grade: 0.202 oz/ton (6.93 g/t)
  • Contained Silver Ounces: 3,139,054
  • Average Gold Grade: 0.018 oz/ton (0.62 g/t)
  • Contained Gold Ounces: 282,986

The New Pass deposit hosts a historical inferred mineral resource that demonstrates the scale and continuity of the mineralized system identified to date. Historical NI 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 Ltd. 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.