Bonnie Claire

Located in southern Nevada just north of the town of Beatty, the property is in a playa approximately 30 km (19 miles) long and 20 km (12 miles) wide. The associated drainage basin covers an area of 57 square km (22 sq. mi). Quartz-rich, tuffaceous volcanic rocks, that contain anomalous amounts of lithium, occur within and adjacent to the drainage basin. Geochemical analysis of the local salt flats has yielded lithium values up to 340 ppm. The gravity low within the valley is 20 km (12 miles) long and the current estimates of the depth to bedrock range from 600 to 900 meters (2,000 to 3,000 feet). The current claim block, consisting of 695 placer claims totaling 13,900 acres, covers the brine bearing potion of the gravity low as defined by geophysics. The claims are owned by Great Basin Resources Inc. and optioned to Iconic Minerals Ltd.

Iconic has done surface geochemical sampling, geophysics including several lines of MT, drilled two deep holes and one shallow test. The deep holes have lithium in sediment values over 1,000 ppm from just below the surface to final depth (304 and 457 meters) [1,000 and 1,500 feet]. Iconic is preparing to drill a third deep hole which will allow the calculation of a NI 43-101 approved resource. Drill testing of shallow lithium brine targets is also planned.