Iconic Minerals Reports Positive near Surface Gold and Silver Results in First Assays of 2026 Drill Program at New Pass Gold Property, Nevada

Vancouver, British Columbia--(Newsfile Corp. - August 13, 2026) - Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: ICMFF) (FSE: YQG) (the "Company" or "Iconic") announces that the first assay results have been received for the New Pass gold property ("New Pass" or the "Property") in Churchill County, Nevada. Results include gold, silver, and multi-element assays from the first six drill holes completed during the 2026 exploration program. The program was designed to test the up-dip extensions of known mineralization while infilling selected deeper sections. The initial assay results confirm significant near-surface intervals of gold and silver mineralization that are not included in the current resource. The 2,140-hectare property is located along a prospective Carlin-type gold trend approximately 150 miles (240 km) east of Reno.

The 10 foot (3 m) sample intervals were submitted to ALS Reno with standards, blank, and repeat samples. Five of the six holes returned continuous mineralized intervals ranging from 70 to 150 feet (21 to 46 m) of leachable-grade gold and silver mineralization (approximately 0.01 oz/ton gold). For context, cut-off gold grades for the oxidized portion of the Carlin style gold mines Barrick operates are as low as 0.21 g/t (0.006 oz/ton) as of March, 2025. https://minedocs.com/28/Carlin-TR-12312024.pdf Hole NP2604 was terminated before reaching the target horizon and therefore did not intersect the mineralized zone. The results are shown in the table below. All holes were drilled at a 45-degree dip to best capture the true thickness of the perpendicularly dipping mineralization.

Iconic Minerals' President and CEO, Richard Kern stated; "These initial assay results meet our expectations for both gold and silver grade and intercept thickness. Drilling the up-dip extensions of mineralization along the current 0.8 mile (1.25 km) strike length has the potential to significantly expand the existing resource. All mineralized shallow holes intercepted more than 70 feet (21m) of gold and silver mineralization beginning within the first 50 feet (15m) of drilling."

New Pass Drilling Exploration Summary
15 core holes have been drilled and Phase 1 drilling has been completed. A second batch of drill core has been submitted to ALS for analysis, with the final batch currently being cut and sampled. Initial metallurgical testing will then be undertaken to confirm the leachability of the mineralized intervals. Because all of the holes are relatively shallow leachable recoveries are expected to be good. The multi-element results will be examined for critical elements that might be recoverable. The results will be incorporated into updated geological interpretations to estimate the potential size and grade of the mineralized extensions. If warranted, additional drilling may be recommended.

About the New Pass Gold Property
The New Pass Gold Property is located within Nevada's Basin and Range Province along the highly prospective Sulfur-Lovelock-Austin structural gold trend, a region recognized for hosting Carlin-type gold systems.

The Property was initially explored in 1980, when a stream sediment arsenic anomaly led to the discovery of a gold-bearing jasperoid system. Since that time, more than 131,000 feet (40,000 m) of drilling across 329 drill holes have identified significant intervals of Carlin-type gold and silver mineralization, leading to the delineation of the New Pass Au-Ag deposit.

The New Pass Au-Ag deposit represents a classic Carlin-type system, with mineralization hosted primarily within silicified rocks and jasperoid developed in decalcified limestone of the Triassic Lower Augusta Mountain Formation. A major north-northwest to south-southeast trending, west-dipping structure separates Triassic calcareous rocks from younger Tertiary volcanic rocks and acted as a major conduit for hydrothermal circulation, alteration, and gold and silver deposition.

The deposit outcrops at surface and has been drilled along approximately 0.8 miles (1.25 km) of strike length, with the deepest pierce point reaching a vertical depth of approximately 1,000 feet (295 m). The shallowly west-dipping tabular deposit remains open along strike in both directions and at depth, providing significant exploration potential.

Inferred Resource Summary (Paul D. Noland, CPG, September 3, 2010)

• Total Short Tons: 15,515,488
• Average Grade AuEq: 0.022 oz/ton (0.75 g/t)
• Contained AuEq Ounces: 341,750
• Average Silver Grade: 0.202 oz/ton (6.93 g/t)
• Contained Silver Ounces: 3,139,054
• Average Gold Grade: 0.018 oz/ton (0.62 g/t)
• Contained Gold Ounces: 282,986

The New Pass deposit hosts a historical inferred mineral resource that demonstrates the scale and continuity of the mineralized system identified to date. Historical NI 43-101 reporting outlines an inferred resource containing both gold and silver mineralization within a near-surface, oxide-dominant system. This existing resource provides a technical foundation for continued exploration, with mineralization remaining open along strike and at depth. The combination of a defined resource and multiple untested targets supports the potential for meaningful resource growth through continued exploration.

Qualified Person
Richard Kern, Certified Professional Geologist, a qualified person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Kern is not independent of the Company as he is the Chief Executive Officer of Iconic.

About Iconic Minerals Ltd.
Iconic Minerals Ltd. is a Nevada-focused gold exploration company advancing high-potential assets in proven mining jurisdictions. The Company's flagship New Pass Gold Property hosts a defined resource with significant expansion potential. Iconic is committed to disciplined exploration, technical advancement, and unlocking long-term shareholder value through systematic project development.

On behalf of the Board of Directors
"Richard Kern"
Richard Kern, President and CEO

For further information, please visit www.iconicminerals.com or contact the number above.

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 news 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 including, without limitation, statements with respect to future operations on the Property, the completion of the Exploration Program, results of the Joint Venture, and the future business plans and exploration activities of the Company, 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: "will", "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "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, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals, and the future development of the Property in a timely manner.

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 future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Property, requirements for additional capital, future prices of lithium and gold, changes in general economic conditions, changes in the financial 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 completion of development or construction activities, risks relating to epidemics or pandemics, including the impact of such epidemics or pandemics on the business, financial 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 permits, consents, approvals or authorizations, including acceptance of the TSX Venture Exchange, 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 latest Management's Discussion and Analysis and filed with the Canadian Securities Authorities. All of the Company's Canadian public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309354

Source: Iconic Minerals Ltd.