Iconic Initiates First Phase of Exploration Program at New Pass Gold Property, Nevada

Iconic Minerals Ltd. has commenced Phase One of an exploration drilling program at its New Pass Gold Property in Churchill County, Nevada, marking a significant milestone in the development of this Carlin-type gold system. The company has mobilized American Drilling Corporation equipment to the site for an extensive HQ core drilling campaign that will operate 24 hours per day over a three-month period. The program will drill more than 20 holes ranging from 200 to 600 feet at 45-degree angles, specifically targeting up-dip extensions of a mineralized zone that spans 3,000 feet in length and remains open-ended.

The New Pass property hosts a substantial inferred mineral resource containing 341,750 ounces of gold equivalent and 3.14 million ounces of silver across 15.5 million short tons of material. This resource is hosted within a classic Carlin-type system located along Nevada's prospective Sulfur-Lovelock-Austin structural gold trend, approximately 150 miles east of Reno. The deposit represents a near-surface, oxide-dominant system with mineralization hosted primarily within silicified rocks and jasperoid developed in decalcified limestone formations.

The exploration program operates under a joint venture agreement with McEwen Mining Inc., with Iconic serving as operator. The strategic approach focuses on expanding the known mineralization and demonstrating potential for a materially larger resource. Historical exploration dating back to 1980 has completed over 40,000 metres of drilling across 329 holes, establishing the foundation for this expansion effort. The deposit remains open along strike in both directions and at depth, providing significant exploration upside potential.

This drilling campaign represents a critical phase in advancing the New Pass project toward potential resource expansion and enhanced project value. The use of core drilling rather than reverse circulation methods will provide superior material for metallurgical testing, supporting future development scenarios. The combination of an established resource base, proven geological system, and systematic exploration approach positions this program as a key value catalyst for both joint venture partners and shareholders in Nevada's established gold mining jurisdiction.