The Company is Engaged in Competitively Acquiring Claims in the Historic Castaño Viejo Mining District of Argentina and in Fielding Work for Assessing Gold Drilling Targets

Vancouver, B.C., Dec. 01, 2021 (GLOBE NEWSWIRE) -- International Iconic Gold Exploration Corporation ("Iconic Gold" or the "Company") (TSXV:ICON) (OTC:MFMLF) announces its current greenfield gold exploration focus is on the Castaño Viejo mining district located in the eastern front of the Andes Cordillera at moderate altitudes of 2,000 to 3,000 meters in San Juan Province, a top mining friendly jurisdiction in Argentina. It is accessible by roads 4 hours' drive from the provincial capital city of San Juan.

To date, Iconic Gold has acquired 3,946 hectares of mining claims and has applications pending for another 1,380 hectares. Of the acquired claims, 108 hectares are Minas, or mining concessions, and 3,838 hectares are Cateos, or exclusive mineral exploration rights.

The Castaño Viejo mining district was a noted lead-silver and zinc producer in the 1950s, that historically displayed numerous lead-zinc-silver and also copper-gold vein prospects with small diggings and abandoned mines on many of them. The Company holds an exploration model wherein these veins are thought to be symptomatic of hydrothermal metals zoning peripheral to nearby igneous intrusive hosted gold-copper prospects, as they lie within a geologically mapped north trending structural (deep seated faults) belt of hydrothermally altered intrusives (granodiorite and quartz-monzonite porphyries) and associated hydrothermal breccias commonly showing geochemically anomalous gold and copper. This structurally controlled mineral belt exceeds 100 kilometers in length.

"There has been extensive exploration done in this region in the last 20 years, which led us to acquire our land positions," stated Iconic Gold President and CEO, Robert Abenante.

"In particular, a regional cross structural intersection identified several decades ago, exposed hydrothermal alteration in appropriate host rocks that our team has identified to warrant further detailed work and drill-testing," continued Mr. Abenante.

A reconnaissance field examination by Iconic Gold's geologists confirmed this prospective zone to be a component of the northeast trending complex of prospective hydrothermally altered intrusives and volcanic breccias.

There is intense revitalized industry interest in the Castaño mineral belt. It is a frenzy of activity now crowded with mining claims. Numerous junior mining companies have competed for and acquired claim positions in the district, notably Sable Resources Ltd. in joint venture partnership with mining investment giant South 32 Ltd. of Australia. Another is Canadian junior Turmalina Metals Corporation ("Turmalina"), which company recently announced a high grade copper-gold discovery within the Castaño mineral belt just 10 kilometers north of Iconic Gold's mining claims.¹ Shown on Turmalina's website, their discovery is based on 47 drill holes that penetrate a circular tourmaline (a crystalline boron silicate mineral) breccia pipe about 100 meters in diameter hosting heavy sulfide mineralization that is likely rooted in a kilometer deep igneous intrusion of porphyry copper nature.

Iconic Gold has a substantial technical database generated by former explorers of the Castaño Viejo mining district as well as its own preliminary geological field investigation there. From this, it has identified numerous and various types (sediment, soil, regolith and outcrop) of geochemical gold anomalies as well as tourmaline breccia pipes on the mine rights it holds and/or has applied for. The Company is currently fielding a consulting geological contractor with a mission to verify those gold anomalies and to continue and expand its investigative geochemical sampling of its mining claims.

Iconic Gold's management is optimistic specific gold exploration drilling targets on its mining claims can be identified for tourmaline breccia pipes and/or large intrusive (porphyry) and volcanic breccia hosted deposits containing various manifestations of gold mineralization.

QUALIFIED PERSON

The technical information disclosed within this document has been prepared by Richard R. Walters, Executive Vice President of International Iconic Gold Exploration Corp. Mr. Walters is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), and is the person under whose direction the San Roque, Argentina project is being carried out. Mr. Walters is a certified Professional Geologist by the American Institute of Professional Geologists (AIPG) and holds a Legion of Honor Membership in the Society for Mining, Metallurgy and Exploration (SME). Historical information contained in this news release cannot be relied upon as Mr. Walters, the Company's Qualified Person as defined under NI 43-101, has not prepared nor verified the historical information.

ON BEHALF OF INTERNATIONAL ICONIC GOLD EXPLORATION CORP.
 "Rob Abenante"
Robert Abenante, President & CEO

Contact Information:

Email:info@iconicgold.com
Website: www.iconicgold.com

For further information regarding International Iconic Gold Exploration Corp., please refer to the Company's filings available on SEDAR () or at ICON's Website ()

Disclaimer for Adjacent Property Disclosure

This news release also includes references with respect to Turmalina's discovery in the Castaño mineral belt, which is located near the Company's Minas and Cateos in the Castaño Viejo mining district. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on adjacent properties such as the Turmalina property and any promising results thereof are not necessarily indicative of the mineralization of, or located on the Company's Minas and Cateos, or the Company's ability to commercially exploit such Minas and Cateos or to locate any commercially exploitable deposits therefrom.

Neither 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.

¹ See Turmalina's news releases filed under the company's profile on SEDAR.

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