Iconic Announces $2,987,800 Debt Settlement

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES

Iconic Announces $2,987,800 Debt Settlement

Vancouver, British Columbia – April 24, 2023 – Iconic Minerals Ltd. (the "Company" or

"Iconic") (TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB ) The Company announces that it has

negotiated a settlement with certain creditors (the “Debt Settlement”) for outstanding debts in the

aggregate amount of Cdn$ 2,987,800 (the “Debt”), subject t o acceptance by the T SX Venture

Exchange (“TSX-V”). In accordance with TSX -V Policies, the Debt will be settled by the

issuance of 16,482,000 common shares at a deemed price of Cdn$0.18 per share.

One (1) Insider (the “Related Parties”) will directly and/or indirectly acquire an aggregate of

4,022,000 Shares from the Debt Settlement, which will increase those Related Parties’ pro rata

shareholdings in the Company (the “Related Party Transaction”). All of the independent

directors of the Company, acting in good faith, have d etermined that the fair marke t value of the

securities being issued and the consideration paid is reasonable and is exempt from the formal

valuation and minority shareholder approval requirements of Multilateral Instrument 61-101.

On behalf of the Board of Directors

SIGNED: "Richard Barnett"

Richard Barnett, CFO

Contact: Keturah Nathe, VP Corporate Development (604) 336-8614

For further information on Iconic, please visit our website at www.iconicminerals.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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward -looking statements and forward -looking information (collectively,

"forward-looking statements") within the meaning of applicable C anadian and U.S. securities legislation,

including the United States Private Securities Lit igation Reform Act of 1995. All statements, other than

statements of historical fact, included herein including, without limitat ion, statements with respect to the

Option, the Joint Venture, the amount of the Offering, the expected use of proceeds from th e Offering and

the future business plans and exploration activities of the Company, are forward -looking statements.

Although the Company believes that such statemen ts are reasonable, it can give no assurance that such

expectations will prove to be correct. Forward-looking statements are typically identified by words such as:

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"will", "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "shoul d", "potential",

"scheduled" or variations of such words and phrases and similar expression s, which, by their nature, refer

to future events or results that may, could, would, might or will occur or be taken or achieved. In making

the forward -looking stat ements in this news release, the Company has applied several material

assumptions, including without limitation, that investor interest will be sufficient to close the Offering, that

market fundamentals will result in su stained precious metals demand and p rices, the receipt of any

necessary permits, licenses and regulatory approvals required for the Option Agreement and the future

development of the Company's projects in a timely manner.

Forward-looking statements involve known and unknown risks, uncertaint ies and other factors which may

cause the actual results, performance or achievements of th e Company to differ materially from any future

results, performance or achievements expressed or implied by the forward -looking information. Such risks

and other fa ctors include, among others, operating and technical difficulties in connection with minera l

exploration and development activities, actual results of exploration activities, including on the Smith

Creek Property, requir ements for additional capital, futur e prices of lithium and gold, changes in general

economic conditions, changes in the financ ial markets and in the demand and market price for

commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the

mining industry, delays in obtaining governmental approvals, permits or financing or in the co mpletion of

development or construction activities, risks relating to epidemics or pandemics such as COVID –19,

including the impa ct of COVID –19 on the business, fina ncial condition and exploration and development

activities of the Company, changes in laws, regulations and policies affecting mining operations, title

disputes, the inability of the Company to obtain any necessary permi ts, consents, approvals or

authorizations, including of the TSX Venture Exchange in respect of the Option Agreement and the

Offering, the timing and possible outcome of any pending litigation, environmental issues and liabilities,

and risks related to join t venture operations, and other risk s and uncertainties disclosed in the Company's

latest interim Management's Discussion and A nalysis and filed with the Canadian Securities Authorities.

All of the Company's Canadian public disclosure filings may be acces sed via www.sedar.com and readers

are urged to review these materials, including the technical reports filed with respect to th e Company's

mineral properties.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the

forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.