Iconic Reports No Material Change and Provides Updates on its 2018 Lithium Exploration Program at Bonnie Claire Project, Nevada

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 Reports No Material Change and Provides

Updates on its 2018 Lithium Exploration Program at Bonnie Claire Project, Nevada

(January 19, 2018) – Iconic Minerals Ltd. (the “Company” or “Iconic”) (TSX-V: ICM) (OTC:

BVTEF) (FSE: YQGB) Iconic wishes to confirm that there is no material change in the

Company's operations that would account for the recent market activity.

The Compan y has initiated environmental permitting of an expanded drilling program at the

Bonnie Claire Project (the “Property”) located in southern Nevada. The expanded permit will

allow drilling of a 450 -600 meter (1,500 -2,000 foot) deep hole to sample lithium bearing

sediments (the “Drilling Program”).

Using this deep target drill hole, including the two deep target holes previously drilled on the

Property, approximately 2.4 kilometers (1.5 miles) apart, will allow Iconic to produce a NI 43-

101 compliant resource estimate (the “Resource Estimate”) on the lithium -rich sediments of the

basin. It will also provide additional bulk samples for further metallurgical testing through St -

Georges Eco Mining (“SX”) independent labs to test the commercial viability of SX’s technology

for recovery of lithium and additional by-products on the Property.

Further testing through SX’s test program initiative will be incorporated into a Preliminary

Economic Assessment report. In addition to the planned deep drill hole, several shallow (less than

100 meters or 325 feet) drill holes are planned to test shallow lithium brine targets.

Geophysics Completed on Additional Shallow Lithium Brine Targets

A proprietary geophysical survey has been completed over linear surface lithium geochemical

anomalies identified by wide-spaced surface salt sampling. The geophysical survey is specifically

designed to identify near -surface faults. Results of the survey are being processed and an

interpretation is expected soon. The Company plans to drill several of the linear lithium

anomalies concurrently with its deep target Drilling Program.

The above exploration program should be completed in the first quarter of 2018.

The Bonnie Claire Lithium Property Characteristics:

The Property is located within Sarcobatus Valley that is approximately 30 km (19 miles) long and

20 km (12 miles) wide, the associated drainage basin covers an are a of 57 square km (22 sq mi).

Quartz-rich volcanic rocks, that contain anomalous amounts of lithium, occur within and adjacent

to the drainage basin. Geochemical analysis of the local salt flats has yielded lithium values up to

340 ppm. The gravity low within the valley is 20 km (12 miles) long, the current estimates of the

depth to bedrock range from 600 to 900 meters (2,000 to 3,000 feet). The current claim block

covers the brine bearing potion of the gravity low as defined by geophysics.

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Richard Kern, Certified Professional Geologist (#11494) and CEO of Iconic is the Qualified

Person who has prepared and reviewed this press release in accordance with NI 43 -101 reporting

standards.

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 ICM, please visit our website at www.iconicmineralsltd.com. The Company’s

public documents may be accessed at www.sedar.com

Forward Statement: This news release includes certain forward -looking statements or information. All

statements other than statements of historical fact included in this release are forward-looking statements that

involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate

and actual results and future events could differ materially from those anticipated in such statements. Iconic

expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a

result of new information, future events or otherwise except as otherwise required by applicable securities

legislation.

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.