Iconic Minerals Reports Further Positive Near Surface Gold and Silver Results in Second Batch of Assays from 2026 Drilling Program at New Pass Gold Property, Nevada
Vancouver, British Columbia – September 17, 2026
Iconic Minerals Ltd. (the “Company” or “Iconic”) (TSX‐V: ICM) (OTCQB: ICMFF) (FSE: YQG) announces that it has received the second batch of assay results for the New Pass gold property (“New Pass” or the “Property”) in Churchill County, Nevada. Results include gold, silver, and multi‐element assays from six additional drill holes completed during the 2026 exploration program. The program was designed to test the up‐dip extensions of known mineralization while infilling selected deeper sections. The assay results confirm significant near‐surface intervals of gold and silver mineralization that are not included in the historic resource. The 2,140‐hectare property is located along a prospective Carlin‐type gold trend approximately 150 miles (240 km) east of Reno.
The 10 foot (3 meter) sample intervals were submitted to ALS Reno with standards, blanks, and repeat samples. Five of the six holes returned continuous mineralized intervals at or near surface ranging from 30 to 180 feet (9 to 55 m) of gold and silver mineralization (approximately 0.35 g/t gold, 0.01 oz/t gold). The sixth hole encountered 30 feet (9 meters) of gold mineralization significantly deeper but did not reach the favorable rock unit it was targeting. In addition, silver grades as high as 42.7 g/t (1.506 oz/t) were encountered, with four of the approximately 10 foot (3 meter) intervals assaying over 20 g/t (0.705 oz/t) silver (see silver table below gold).
For context, cut‐off gold grades for the oxidized portion of the Carlin style gold mines Barrick operates are as low as 0.21 g/t (0.006 oz/ton) as of March 2025. https://minedocs.com/28/Carlin‐TR‐ 12312024.pdf The results are shown in the table below. Reported intervals represent downhole lengths. True widths have not yet been determined, but all holes were drilled at ‐45 degrees, approximately perpendicular to the dip of the mineralized limestone host unit.
| Hole ID | Start (ft) | End (ft) | Start (m) | End (m) | Intercept Width (ft) | Intercept Width (m) | Au (g/t) | Ag (g/t) | Au (oz/t) | Ag (oz/t) |
|---|---|---|---|---|---|---|---|---|---|---|
| NP2605 | 320 | 350 | 98 | 107 | 30 | 9 | 0.33 | 4.83 | 0.012 | 0.170 |
| NP2612 | 0 | 100 | 0 | 30 | 100 | 30 | 0.40 | 4.89 | 0.014 | 0.172 |
| NP2613 | 0 | 180 | 0 | 55 | 180 | 55 | 0.44 | 3.21 | 0.016 | 0.113 |
| Including | 110 | 160 | 34 | 49 | 50 | 15 | 0.95 | 3.32 | 0.034 | 0.117 |
| NP2614 | 0 | 160 | 0 | 49 | 160 | 49 | 0.37 | 5.49 | 0.013 | 0.194 |
| NP2615 | 0 | 30 | 0 | 9 | 30 | 9 | 0.38 | 4.03 | 0.013 | 0.142 |
| NP2618 | 0 | 140 | 0 | 43 | 140 | 43 | 0.30 | 6.49 | 0.011 | 0.229 |
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| Hole ID | Start (ft) | End (ft) | Start (m) | End (m) | Ag (g/t) | Ag (Oz/Ton) |
|---|---|---|---|---|---|---|
| NP2614 | 60 | 70 | 18 | 21 | 20.40 | 0.720 |
| NP2614 | 190 | 202 | 58 | 62 | 30.30 | 1.069 |
| NP2618 | 130 | 140 | 40 | 43 | 42.70 | 1.506 |
| NP2618 | 150 | 160 | 46 | 49 | 20.00 | 0.705 |
Significant Antimony Intersected, New Data from Previously Reported Drill Hole
In one of two holes targeting deeper mineralization in this exploration program (NP2601), multi‐element assay analysis revealed a notable antimony intercept. From 79 to 85 meters (260 to 280 feet), exceeded the analytical upper detection limit of 1% Sb, with the previous 10 feet (3 meters) assaying 0.26% Sb. The same interval with over‐limit antimony assay values returned an average of 1.80 g/t (0.053 oz/ton) Au and 11.9 g/t (0.335 oz/ton) Ag. This hole’s overall gold and silver assay values were previously reported. Antimony is a U.S. critical mineral and, therefore, future drilling will likely include further testing for Sb.
Iconic Minerals’ President and CEO, Richard Kern, stated: "The new gold and silver assay results follow the trend from the previous batch of assays. The drill program continues to show us the near‐surface gold and silver mineralization potential initially targeted is a reality.”
New Pass Drilling Exploration Summary
Fifteen core holes have been drilled and the 2026 drill program has been completed. The final batch of samples has been submitted to ALS for analysis and will constitute the final gold and silver assays of the 2026 drill program. Initial metallurgical testing will then be undertaken to confirm the leachability of the mineralized intervals. Because all of the holes are relatively shallow, metallurgical recoveries are expected to be favorable. The multi‐element results will also be examined for potentially recoverable critical elements . The results will be incorporated into updated geological interpretations to estimate the potential size and grade of the mineralized extensions. If warranted, additional drilling may be recommended.
About the New Pass Gold Property
The New Pass Gold Property is located within Nevada’s Basin and Range Province along the highly prospective Sulfur–Lovelock–Austin structural gold trend, a region recognized for hosting Carlin‐type gold systems.
The Property was initially explored in 1980, when a stream sediment arsenic anomaly led to the discovery of a gold‐bearing jasperoid system. Since that time, more than 131,000 feet (40,000 m) of drilling across 329 drill holes have identified significant intervals of Carlin‐type gold and silver mineralization, leading to the delineation of the New Pass Au‐Ag deposit.
The New Pass Au‐Ag deposit represents a classic Carlin‐type system, with mineralization hosted primarily within silicified rocks and jasperoid developed in decalcified limestone of the Triassic Lower Augusta Mountain Formation. A major north‐northwest to south‐southeast trending, west‐dipping structure separates Triassic calcareous rocks from younger Tertiary volcanic rocks and acted as a major conduit for hydrothermal circulation, alteration, and gold and silver deposition.
The deposit outcrops at surface and has been drilled along approximately 0.8 miles (1.25 km) of strike length, with the deepest pierce point reaching a vertical depth of approximately 1,000 feet (295 m). The ‐ 3 -
shallowly west‐dipping tabular deposit remains open along strike in both directions and at depth, providing significant exploration potential.
Historic Inferred Resource Summary (Paul D. Noland, CPG, September 3, 2010)
- Total Short Tons: 15,515,488
- Average Grade AuEq: 0.022 oz/ton (0.75 g/t)
- Contained AuEq Ounces: 341,750
- Average Silver Grade: 0.202 oz/ton (6.93 g/t)
- Contained Silver Ounces: 3,139,054
- Average Gold Grade: 0.018 oz/ton (0.62 g/t)
- Contained Gold Ounces: 282,986
The New Pass deposit hosts a historical inferred mineral resource that demonstrates the scale and continuity of the mineralized system identified to date. This historical inferred resource contains both gold and silver mineralization within a near‐surface, oxide‐dominant system. This historical resource provides a technical foundation for continued exploration, with mineralization remaining open along strike and at depth.
Historical estimate from NI 43‐101 Technical Report 2010, Paul Noland. The historical resource report was done by a Certified Professional Geologist in compliance with NI 43‐101 guidelines. The compliant Mineral Resource estimate is based on a total of 266 out of 329 drill holes completed between 1982 and 2008 and used VULCAN 3‐D modeling software to digitize the mineral polygons, triangulate them into 3‐D solids, and calculate volumes and weighted average grades. The terms “historical mineral resource” and “historical inferred mineral resource”, have the meanings ascribed to those terms by the Canadian Institute of Mining, Metallurgy and Petroleum, as the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM Council. There are no more recent estimates of data available to the Company. To upgrade or verify the historical estimate as current mineral resources or mineral reserves additional drilling, assaying and resource assessment must be completed. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and the issuer is not treating the historical estimate as current mineral resources or mineral reserves.
Qualified Person
Richard Kern, Certified Professional Geologist, a qualified person as defined by NI 43‐101, has reviewed and approved the technical information contained in this news release. Mr. Kern is not independent of the Company as he is the Chief Executive Officer of Iconic.
About Iconic Minerals Ltd.
Iconic Minerals Ltd. is a Nevada‐focused gold exploration company advancing high‐potential assets in proven mining jurisdictions. The Company’s flagship New Pass Gold Property hosts a historical inferred resource with significant expansion potential. Iconic is committed to disciplined exploration, technical advancement, and unlocking long‐term shareholder value through systematic project development.
On behalf of the Board of Directors
"Richard Kern"
Richard Kern, President and CEO
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Contact:
Keturah Nathe, VP Corporate Development +1‐604‐336‐8614
For further information, please visit www.iconicminerals.com or contact the number above.
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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. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to future operations on the Property, the completion of the Exploration Program, results of the Joint Venture, 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 expressions, which, by their nature, refer 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 market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals, and the future development of the Property 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 expressed 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, including on the 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, including the impact of such epidemics or pandemics 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 acceptance of the TSX Venture Exchange, 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 Management's Discussion and Analysis and filed with the Canadian securities regulatory authorities. All of the Company's Canadian public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials.
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