Iconic Minerals Ltd. announced that it has initiated work at its recently acquired Smith Creek Valley lithium project ("Smith Creek"), located 140 miles (225 km) east of Reno, near Austin, Nevada. Claim staking, geologic mapping, surface geochemical sampling and gravity interpretation have been completed on Smith Creek. A map of the Smith Creek property is available on the Company's website. Iconic controls 808 placer claims totaling 25.25 square miles (65.4 km2) over a major gravity low. The enclosed Smith Creek Valley Basin covers 582 square miles (1,507 km2), which is slightly larger than Clayton Valley Basin where lithium brines are produced. Smith Creek Valley is over +40 miles (+64 km) long in a north-northeast direction and averages 9 miles (14.5 km) in width. The vast majority of rock weathering into the basin is felsic ash flow tuff, which is an excellent source of lithium.