Iconic Announces Final Tranche Closing of Financing for Additional Gross Proceeds of $295,000

Vancouver, British Columbia--(Newsfile Corp. - June 15, 2016) - Iconic Minerals Ltd. (TSXV: ICM) (FSE: YQG) announces that on June 14, 2016 it received conditional acceptance from the TSX Venture Exchange to close the final tranche of its $3,000,000 private placement (refer to ICM News Releases dated May 2 and June 2, 2016).

In accordance with the provisions of Subscription Agreements, on June 15, 2016 the Company issued a total of 1,475,000 Units at a price of $0.20 per Unit, each Unit being comprised of one common share and one-half share purchase warrant, each whole warrant being exercisable into one common share on or before June 14, 2018 at $0.30 per share.

A total of $17,200 cash will be paid as finders' fees in connection with this final tranche closing.

These shares, together with any shares that may be issued on exercise of the warrants and Compensation Warrants will be subject to a hold period under applicable Canadian securities laws expiring on October 16, 2016, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.

On behalf of the Board of Directors

SIGNED: "Richard Barnett"

Richard Barnett, CFO
Contact: (604) 336-8614

For further information on ICM, please visit our website at www.iconicmineralsltd.com

The Company's public documents may be accessed at www.sedar.com

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.

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

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES