Iconic Provides Corporate Update
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ICONIC PROVIDES CORPORATE UPDATE
Vancouver, British Columbia – November 18, 202 1 – Iconic Minerals Ltd.
(the "Company" or "Iconic") (TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB) is
pleased to provide a corporate update. The Company previously announced the completion
of the Preliminary Economic Assessment (the “ PEA”) which confirmed that the
Company’s flagship lithium property , the Bonnie Claire, is economically feasible using
borehole mining technique s. In the new year , the Company will further study borehole
mining, as well as other mining techniques.
Plan of Operations
With the completion of a Plan of Operation (the “PoO”) environmental study, expected to
be approved by the BLM around the end of the year, the Company will embark on a major
drilling program. The plan is to move our current resource from “Resource” (Inferred) to
“Reserve” (Indicated and Measured). The Company will also be fine tuning its metallurgy
and engineering studies in preparations for a preliminary feasibility study.
Smith Creek Valley
In September 2021, Iconic completed Phase I drilling of its 100% owned, Smith Creek
Valley lithium project, also located in Nevada. The drilling program consisted of 5 RC
holes averaging 90 meters (300 feet) in depth. The sediment and ground waters were shipped
to Western Environmental Testing and ALS Chemex in Reno, Nevada. The results are
pending, and the Company will report results once they have been released.
Gold Properties Spin Out
In 2020 the Company made the decision to spin out its gold assets into a new entity ,
NevGold Exploration Ltd., for its New Pass and Midas South gold properties. The strategy
is still an active and is intended to be completed at the appropriate time.
Joint Venture Partner
Iconic’s joint venture partner (the “JV Partners”) Nevada Lithium, successfully listed on
the Canadian Securities Exchange and is expected to earn the entirety of their 50% interest
of the Bonnie Claire Property upon final payment of USD$4,000,000 on or before the 1st
of December 2021.
Media Link
A video clip is provided here as well, a multi -media delivery of Iconic’s Company status
reporting. https://vimeo.com/marketonemediagroup/review/642054732/899c6c04f5
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Bonnie Claire Property
The Bonnie Claire Property i s 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 PEA report for borehole mineable portion of the resource is 3,407 million tonnes
grading 1,013 ppm Li or 18,372 million kilograms of lithium carbonate equivalent. (though
this is a resource, not a reserve, and has not yet proven economic viability). The gravity
low within the valley is 20 km (12 miles) long, and the current estimates of depth t o
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 mi 2) with potential for brine systems and further
sediment resources.
Smith Creek Valley Property
The Smith Creek Property is located within Smith Creek Valley, which is approximately
60 km (37 miles) long and 16 km (10 miles) wide. Quartz -rich volcanic tuffs containing
anomalous amounts of lithium occur within and adjacent to the valley. Surface sampling
around hot springs on patented ground just off the claim block assayed a maximum of 470
ppm Li. The gravity low within the valley is 16 km (10 miles) long, and the current
estimates of depth to basement rocks range from 1,300 to 1,500 meters (4,200 to 5,000
feet). The current claim block covers an area of 46 km2 (17.8 mi2 ) with potential for brine
systems and further sediment resources
On behalf of the Board of Directors
SIGNED: "Richard Kern"
Richard Kern, President and CEO
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 Canadian 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 limitation, statements with respect to the
Option, the Joint Venture, the amount of the Offering, the expected use of proceeds from the Offering 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 expression s, which, by their nature, refer
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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 investor interest will be sufficient to close the Offering , that market
fundamentals will result in sustained precious metals demand and prices, 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, 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 exp ressed 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, inc luding on the Bonnie
Claire 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 such as COVID–19, including the impact of
COVID–19 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 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 joint venture operations, and
other risks and uncertainties disclosed in the Company 's latest interim 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.sedar.com and readers are urged to review these materials, including the
technical reports filed with respect to the 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.