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Iconic Announces Geophysical Results Show Interpreted Brine Horizon and Permit to Drill Filed at Bonnie Claire Project

(June 20, 2016) – Iconic Minerals Ltd. (TSX‑V: ICM / FSE: YQG) 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

ICONIC MINERALS LTD.

Suite 303, 595 Howe Street

Vancouver, B.C.  V6C 2T5

Phone: (604) 336-8614              Fax: (604) 718-2808

www.iconicmineralsltd.com

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.