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Iconic Minerals Acquires Option in Yellow Lake Property, Quebec

Iconic Minerals Ltd. (ICM.V) has entered into a Property Option Agreement with two arms' length optionors to acquire up to an 85% exclusive right and interest in and to certain surface and mineral rights comprising 1,784.59 hectares, in the James Bay area, Quebec, known as the Yellow Lake Property.

Pursuant to the agreement, Iconic may earn an initial 50% interest in the property by paying the optionors a total of $50,000 cash, issuing a total of 1,500,000 common shares in stages over 24 months, and expending $500,000 for exploration work over a 24 month period.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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