Iconic Closes Second Equity Financing for $500,000

ICONIC MINERALS LTD.

Suite 303, 595 Howe Street Vancouver, B.C. V6C 2T5 Phone: (604) 336-8614 Fax: (604) 718-2808 www.iconicmineralsltd.com

NEWS RELEASE

Iconic Closes Second Equity Financing for $500,000

(March 28, 2016) – Iconic Minerals Ltd. (TSX-V: ICM / FSE: YQG) announces that on March 23, 2016 it received acceptance from the TSX Venture Exchange (“TSX-V”) to close its second equity financing for gross proceeds of $500,000 (refer to March 18, 2016 News Release).

In accordance with the provisions of Subscription Agreements, on March 28, 2016 the Company issued a total of 10,000,000 common shares at a price of $0.05 per share, which shares are subject to a hold period under applicable Canadian securities laws expiring on July 29, 2016, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.

No warrants or finders’ fees were issued in connection with this financing.

Proceeds will be used toward the first year Expenditures on the Company’s Bonnie Claire Lithium Property in Nevada, and for general working capital purposes.

On behalf of the Board of Directors

SIGNED: “Richard Barnett”

Richard Barnett, CFO

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

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.