Vancouver, British Columbia--(Newsfile Corp. - June 20, 2016) - Iconic Minerals Ltd. (TSXV: ICM) (FSE: YQGB) is pleased
to announce it has received a report by Frank Fritz of Fritz Geophysics, Fort Collins, Colorado on the MagnetoTelluric (MT)
geophysical survey at the Bonnie Claire Project (the "Property"). The survey identified a widespread conductor interpreted to be a
brine horizon with an average thickness of over 300 meters (985 feet). A typical line along with the Fritz Geophysics
interpretation can be found on the Company's website http://iconicmineralsltd.com/ .
The survey, conducted by Zonge International Inc. of Reno, Nevada, consisted of six east-west lines covering a north-south
target area 8 km (5 miles) in length. A total of 145 MT soundings were recorded at 73 receiver stations, with station spacing being
200 metres (656 feet). The results show a well-defined, very low resistivity layer starting approximately 200 metres (656 feet)
below the surface and getting deeper to the east (see interpreted section on website). Resistivities are remarkably low, often
being below 0.5 ohm metres. The low resistivity layer is interpreted to be a brine filled reservoir unit. Evaporitic material
sampled on surface, was interpreted to be derived from a brine which when analyzed was found to contain lithium. (See News Release
April 6, 2016).
Because the potential brine horizon extends beyond the original survey, an additional MT survey has been initiated to determine
its extent. Results are expected within two weeks.
Iconic has filed a Notice of Intent (NOI) with the Bureau of Land Management (BLM) to drill 8 wells at Bonnie Claire. All
requirements for the NOI, including an archeology survey, have been completed and filed. Granting of this drilling permit is
expected shortly. Drilling is currently planned to begin around the end of June.
The following is a brief summary on the Property:
The Property is a lithium brine target comprising 18,420 acres. It is located within a valley that is over +20 miles (+30 km)
long and 12 miles (20 km) wide into which streams from an +800 mi2 (2,070 km2) drainage basin empty. The
source rocks are quartz-rich volcanics that contain anomalous amounts of lithium. Sampling of salt flats within the basin has found
lithium values in salt samples ranging from 50 to 340 ppm. The deeper part of a gravity low within the valley is 12 miles (20 km)
long and initial estimates are the depth to bedrock ranges from 1,500 to 2,000 feet (460-610 m) within this low. The current claim
block covers the gravity low and associated mud flats that could be used for evaporation ponds if significant lithium brines are
discovered in drilling.
Richard Kern, Certified Professional Geologist (#11494) and CEO of Iconic is the Qualified Person who has prepared and reviewed
this press release in accordance with NI 43-101 reporting standards.
On behalf of the Board of Directors
SIGNED: "Richard Kern"
Richard Kern, President and CEO
Contact: (604) 336-8614
For further information on ICM, please visit our website at www.iconicmineralsltd.com. The Company's public documents may be accessed at www.sedar.com
Forward Statement: This news release includes certain forward-looking statements or information. All
statements other than statements of historical fact included in this release are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements. Iconic expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities legislation.
Neither the 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.
