Iconic Minerals Initiates Drilling at New Pass Gold Property, Nevada

Iconic Minerals Ltd. has initiated a significant drilling campaign at its New Pass Gold Property in Churchill County, Nevada, marking a key advancement in the company's exploration strategy. The 2,140-hectare property is strategically located along the highly prospective Carlin-type gold trend, approximately 150 miles east of Reno, positioning it within one of the world's premier mining jurisdictions. American Drilling Corporation has commenced HQ core drilling to test extensions of the known mineralized zone, which spans over 3,000 feet of strike length and remains open both along strike and at depth.

The property operates under a joint venture agreement with McEwen Mining Inc., with Iconic serving as operator of the exploration program. The New Pass deposit represents a classic Carlin-type gold system, with mineralization hosted primarily within silicified rocks and jasperoid developed in decalcified limestone. The current drilling program has identified promising geological characteristics including decalcified and silicified limonite-stained sections that appear analogous to other successful Carlin-type systems in Nevada.

The property hosts an established inferred resource of 15.5 million short tons averaging 0.022 oz/ton gold equivalent, containing 341,750 oz AuEq including 282,986 oz of gold and 3.14 million oz of silver. This resource provides a solid technical foundation for potential expansion through the current drilling campaign. The near-surface, oxide-dominant nature of the system enhances its development potential.

The drilling program represents a strategic effort to significantly expand the known mineralized system and create additional shareholder value. With excellent core recovery reported and multiple drill sites prepared, the campaign is well-positioned to test the substantial exploration upside potential of this Carlin-type system. The combination of proven mineralization, favorable geology, and expansion potential positions New Pass as a compelling gold exploration opportunity in Nevada's established mining environment.