Bonnie Claire Property – Iconic Minerals Ltd.

The Bonnie Claire Lithium Property

The Bonnie Claire Property is located within Sarcobatus Valley that is approximately 30 km (19 miles) long and 20 km (12 miles) wide. Quartz-rich volcanic tuffs, that contain anomalous amounts of lithium, occur within and adjacent to the valley. 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, and the current estimates of depth to basement rocks range from 600 to 1,200 meters (2,000 to 4,000 feet). Four drill holes have identified an open ended, 43-101 compliant resource of 28.58 billion kilograms of lithium carbonate equivalent. The drilling that defined the current resource only covered an area of 3.0 km2 (1.2mi2), while previously run MT geophysics show a potentially mineralized area of 27.3 km2 (10.5mi2). Drilling to date has shown strong correlation between the MT results and the lithium mineralization. The thickness of the lithium mineralization is unknown, but drilling indicates it is greater than 600 meters (2,000 feet). The current claim block covers an area of 57.5 km2 (22.2mi2). Further drilling has been permitted and metallurgy to determine the most efficient recovery method is currently in progress.

Iconic Minerals Announces Exploration Update for Bonnie Claire Lithium Project

Vancouver, British Columbia – June 13, 2022 – Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: BVTEF) (FSE: YQGB) (the “Company” or “Iconic”) and its 50% joint venture partner in Bonnie Claire, Nevada Lithium Resources Inc. (CSE: NVLH) (FSE: 87K) (“Nevada Lithium“), are pleased to announce that drilling of the Bonnie Claire Lithium Project (the “Project” or “Property”) is underway and proceeding according to plan. The planned drill program will entail drilling from five (5) separate drill sites (See news release dated May 4, 2022), which are spaced approximately one-half mile apart and being drilled to a depth of 2,000 feet (610 meters). Both core and mud/rotary holes

Reports

Click here to view Preliminary Economic Assessment NI 43-101 Technical Report

Click here to view the NI 43-101 mineral resource estimate technical report

June 2022 Drill Program

Property Details

Drainage Basin (20 x 30 kms)	830 square miles (1 1/2 times larger than Clayton Valley)
Gravity Lows (length)	20 x 30 kms
Valley Sediment (Range)	460 – 610m (1,500 to 2,000ft)
BLM Drilling Permits	Up to 6 holes permitted for drilling
Drilling Program	4 drill holes completed (3 deep and one shallow)
Water Right Permits	Water permits pending

2019 Planned Drill Holes

Iconic has finalized plans for its 2019 drilling program( the “Drilling Program”) at Bonnie Claire. Five drill holes averaging 90 meters (300 feet) depth will be drilled in the southern portion of the project area in an area of anomalous surface lithium values and interpreted faults. Th e purpose of the Drilling Program is to define shallow lithium mineralization which the Company can utilize for bulk sampling and extend the resource to the south. If results are favorable, one or more of the shallow holes will be deepened to +600 meters (2,000 feet) to further enlarge the resource.

2018 Planned Drill Holes

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Iconic Minerals Ltd.,
303 – 595 Howe Street,
Vancouver, BC V6C 2T5, Canada
info@iconicminerals.com | Phone: +1 604 336 8614