Iconic Files Amended Preliminary Economic Assessment Report ON Bonnie Claire Project
LC373118-1
ICONIC FILES AMENDED PRELIMINARY ECONOMIC ASSESSMENT
REPORT ON BONNIE CLAIRE PROJECT
Vancouver, British Columbia – November 18, 202 2 – Iconic Minerals Ltd.
(the "Company" or "Iconic") (TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB) reports
that it has filed an amended National Instrument 43 -101 Standards of Disclosure for
Mineral Projects ("NI 43-101") preliminary economic assessment technical report for the
Bonnie Claire project (the "Bonnie Claire Property") located 48 km (30 miles) north of
Beatty, Nevada.
The NI 43-101 technical report is entitled "Preliminary Economic Assessment NI 43 -101
Technical Report, Bonnie Claire Lithium Project , Nye County, Nevada " (the "Amended
PEA Technical Report ") and is dated effective August 20, 2021 with a revised and
amended date of November 11, 2022 . The Amended PEA Technical Report was
prepared pursuant to NI 43 -101 by Global Resource Engineering Ltd. of Denver ,
Colorado. The Amended PEA Technical Report is available on the Company' s SEDAR
profile at www.sedar.com and on the Company's website at www.iconicminerals.com.
Bonnie Claire Property
The Bonnie Claire Property is located within Sarcobatus Valley, which is approximately
30 km (19 miles) long and 20 km (12 miles) wide. Quartz-rich volcanic tuffs containing
anomalous amounts of lithium occur within and adjacent to the valley. Drill results from
the salt flat have included lithium values as high as 2550 ppm Li and a 1560 foot
(roughly 475 meter) vertical intercept that averaged 1153 ppm Li. The current 43 -101
resource from the Amended PEA Technical Report for the borehole mineable portion of
the resource is 3,407 million tonnes (inferred) grading 1,013 ppm Li or 18,372 million
kilograms of lithium carbonate equivalent . The gravity low within the valley is 20 km
(12 miles) long, and the current estimates of depth to basement rocks range from 600 to
1,200 meters (2,000 to 4,000 feet). The current claim block covers an area of 74 km 2
(28.6 mi2) with potential for brine systems and further sediment resources.
Qualified Persons
Richard Kern, Certified Professional Geologist, a qualified person as defined by
NI 43-101, has reviewed and approved the scientific and technical information contained
in this news release. Mr. Kern is not independent of the Company as he is the Chief
Executive Officer of Iconic.
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LC373118-1
On behalf of the Board of Directors
SIGNED: "Richard Kern"
Richard Kern, President and CEO
For further informatio n on Iconic, please visit our website at www.iconicminerals.com,
or contact: Keturah Nathe, VP Corporate Development (604) 336-8614.
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 Canadian and U.S. securities legislation.
All statements, other than statements of historical fact, included herein are forward-looking statements.
Although the Company believes that such statements 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: "believes", "exp ects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will",
"potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their
nature, refer to future events or results that may, could, wo uld, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to differ materially from any futur e
results, performance or achievements expressed or implied by the forward looking information. Such risks
and other factors include, among others, statements as to the anticipated business plans and timing of
future activities of the Company, the ability of the Company to obtain sufficient financing to fund its
business activities and plans, delays in obtaining governmental and regulatory approvals (including of the
TSX Venture Exchange), permits or financing, changes in laws, regulations and policies affe cting mining
operations, currency fluctuations, title disputes or claims, environmental issues and liabilities, risks
relating to epidemics or pandemics such as COVID –19, including the im pact of COVID –19 on the
Company's business, financial condition and r esults of operations, changes in laws, regulations and
policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary
permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation,
environmental issues and liabilities, and risks related to joint venture operations, and other risks and
uncertainties disclosed in the Company 's continuous disclosure documents. All of the Company' s Canadian
public disclosure filings may be a ccessed via www.sedar.com and readers are urged to review these
materials.
Readers are cautioned not to place undue reliance on forward -looking statements. The Company does not
undertake any obligation to update any of the forward -looking statements in th is news release or
incorporated by reference herein, except as otherwise required by law.