Vancouver, British Columbia--(Newsfile Corp. - January 26, 2021) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the "Company") would like to make a correction regarding the details of the closing of its non-brokered private placement (the "Private Placement") issuing 10,000,000 units (the "Units") at CAD$0.10 per Unit for gross proceeds of CAD$1,000,000. The Company's press release dated as of the date hereof, stated the price per unit of CAD$0.01, in error. The correct price per Unit is CAD$0.10.

Each Unit is comprised of one common share of the Company (a "Share") and one half-warrant, with each whole warrant (the "Warrant"), exercisable to purchase one common share of the Company (a "Warrant Share") for a period of one (1) year from the date of closing of the Private Placement at a price of $0.15 per Warrant Share in the 12 month period.

All securities issued will be subject to a four month hold period pursuant to securities laws in Canada.

The Company intends to use the proceeds from the Private Placement for exploration work, corporate development and general working capital.

The Company paid finder's fees of $21,000 and 105,000 finder's warrants (the "Finder's Warrants") to Leedes Jones Gable and Raymond James Ltd. The Finder's Warrants are exercisable at $0.15 per common share for a period of one (1) year.

ON BEHALF OF THE BOARD

"Richard Barnett"

Richard Barnett, CFO

Contact: Keturah Nathe,
VP Corporate Development (604) 336-8614

For further information on ICM, please visit our website at . The Company's public documents may be accessed at

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

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