Iconic Minerals Ltd.
TSX VENTURE : ICM
FRANKFURT : YQG

Iconic Minerals Ltd.

March 02, 2012 13:15 ET

Iconic Announces Equity Financing Up to $1,500,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2012) -

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

Iconic Minerals Ltd. (TSX VENTURE:ICM)(FRANKFURT:YQG) announces that it has negotiated, subject to acceptance by the Exchange, a private placement for gross proceeds of up to $1,500,000. These funds will be raised by the Company issuing up to 20,000,000 Units (the "Units") at a price of $0.075 per Unit, each Unit consisting of one common share and one share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of two years from the date of issuance at a price of $0.15 per share in the first year and $0.25 per share in the second year. Proceeds raised from the private placement will be used towards exploration and development of the Company's Hercules Project in Lyon County, Nevada, and for general working capital purposes.

The Company may pay finders' fees in connection with the private placement in accordance with the rules and policies of the TSX Venture Exchange.

On behalf of the Board of Directors

Richard Barnett, Chief Financial Officer

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.

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