International Lithium Announces Strategic Goals For 2018
NEWS RELEASE
International Lithium Announces Strategic Goals For 2018
Vancouver, B.C. February 2 , 2018 : International Lithium Corp. (the “ Company” or
“ILC”) (TSX VENTURE: ILC) is pleased to announce the completion of a successful
transitional year. We are building a green energy metals company in order to provide
our shareholders with the opportunity to participate in the ongoing Energy rEVolution.
ILC currently holds highly prospective projects in the most prolific areas of the world for
lithium and rare metals. ILC's joint ventures with Jiangxi Ganfeng Lithium Co. Ltd. in
Argentina and Ireland are an entry point to a vertically integrated lithium busin ess with
the largest lithium materials producer from China.
During ILC’s transitional year, we built a team of dedicated professionals who cover all
aspects of our operations , and made further improvements to our internal controls and
operating systems.
We have succesfully activated all of our joint venture operations on the continents of
Argentina, Ireland and Canada. Our partners include global industry leaders , Jiangxi
Ganfeng Lithium Co. Ltd. of China and Pioneer Resources Limited of Australia.
Our main priority for 2018 is to continue to advance our JV operations with a focus on
establishing access to strategic source s of capital in order to advance our business
plan. ILC plans to optimize our portfolio of assets , strengthen our capital structure and
extend our shareholder base.
Mariana Lithium Joint Venture with Ganfeng Lithium
On January 8, 2018 , the Company , together with our joint venture partner , Mariana
Lithium Co. Ltd. ((“MLC”), a subsidiary of Jiangxi Ganfeng Lithium Co. Ltd. (“Ganfeng
Lithium”)), announced the adoption of a 2018 budget for continued work at the Mariana
lithium brine project (“Mariana JV”) in Salta, Argentina. Current ownership of the project
is through a joint venture company, Litio Minera Argentina S. A., a private company
registered in Argentina, ownership of which will be 82.754% by Ganfeng Lithium and
17.246% by ILC. In addition, ILC has an option to acquire 10% in the Mari ana project
through a back-in right.
1111 Melville Street, Suite 1100
Vancouver, British Columbia
V6E 3V6, Canada
T: 604-700-8912
www.internationallithium.com
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Highlights of the US $17 million budget for 2018 include:
1. continued natural evaporation studies;
2. membrane separation studies;
3. aquifer characterization studies;
4. preliminary economic assessment (“PEA”); and
5. pre-feasibility studies (“PFS”).
Avalonia Lithium Joint Venture with Ganfeng Lithium Update
The Company, together with joint venture partner GFL International Co. Ltd., a
subsidiary of Jiangxi Ganfeng Lithium Co. Ltd. (“Ganfeng Lithium” or “GFL”), have
adopted a 2018 budget for continued work at the Avalonia lithium pegmatite project
(“Avalonia JV”) in Ireland, a joint venture between the two companies. The budget calls
for Euro 705,000 (approximately CDN $1 million) to be invested in the Avalonia project.
The budget covers ongoing exploration and evaluation work, administration fees and
continigencies.
The ownership of the Avalonia project is currently 55% GFL and 45% ILC. GFL have an
option to earn an additional 24% by either incurring CDN$10 million expenditures on
exploration activities or delivering a positive feasibility study on the project, at which
time the ownership will be 79% GFL and 21% ILC.
Mavis Lithium JV Update
In conjunction with its strategic partner, Pioneer Resources Limited (“Pionee r”) (ASX:
PIO), the Company announced that drilling is underway at the Mavis Lake Lithium
Project in the province of Ontario, Canada.
The 2018 winter program will comprise up to 1,200 metres of oriented NQ diamond core
drilling and will test for extensions to spodumene-bearing pegmatites intersected by the
joint venture (the “JV”) in the 2017 drilling program targeting the Fairservice (PEG006 or
Pegmatite 6) prospect (see ILC news release dated October 17, 2017).
Change in ILC's Corporate Structure
ILC advises that the board has abolished the position of Deputy Chairman after due
consideration as the position is considered unnecessary in the context of achieving the
Company's current objectives . John Wisbey, former Deputy Chairman, continues to
serve as a director.
“The Board thank s Mr. Wisbey for his support and assistance in that role during the
Company’s significant transitional year ,” commented Kirill Klip, Executive Chairman of
ILC. “We look forward to achiev ing our strategic goals and increas ing value for all our
shareholders.”
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About International Lithium Corp.
International Lithium Corp. has a significant portfolio of projects, strong management,
robust financial support, and a strategic partner and keystone investor, Jiangxi Ganfeng
Lithium Co. Ltd., (“Ganfeng Lithium”) a leading China -based lithium product
manufacturer.
The Company’s primary focus is the strategic stake in the Mariana lithium -potash brine
project located within the renowned South American “Lithium Belt” that is the host to the
vast majority of global lithium resources, reserves and production. The Mariana project
strategically encompasses an entire mineral rich evaporite basin, totaling 160 square
kilometres that ranks as one of the more prospective salars or ‘salt lakes’ in the region.
Current ownership of the project is through a joint venture company, L itio Minera
Argentina S. A., a private company registered in Argentina, ownership of which was
revised to 82.754% by Ganfeng Lithium and 17.246% by ILC in early 2018 in order to
reflect each party’s current JV interest . In addition, ILC has an option to acquire 10% in
the Mariana project through a back-in right.
Complementing the Company’s lithium brine project are three rare metals pegmatite
properties in Canada known as the Mavis, Raleigh, and Forgan projects, and the
Avalonia project in Ireland, which encompasses an extensive 50km-long pegmatite belt.
The ownership of the Avalonia project is currently 55% GFL and 45% ILC. GFL have an
option to earn an additional 24% by either incurring CDN$10 million expenditures on
exploration activities or delivering a positive feasibility study on the project, at which
time the ownership will be 79% GFL and 21% ILC.
The Mavis and Raleigh projects are under option to strategic partner Pioneer Resources
Limited (ASX: PIO) pursuant to which Pioneer can acquire up to a 51% interest in the
projects.
The Mavis, Raleigh and Forgan projects together form the basis of the Company’s
Upper Canada Lithium Pool designated to focus on acquiring numerous prospects with
previously reported high concentrations of lithium in close p roximity to existing
infrastructure.
With the increasing demand for high tech rechargeable batteries used in vehicle
propulsion technologies and portable electronics, lithium is paramount to tomorrow’s
“green-tech”, sustainable economy. By positioning itself with solid strategic partners and
acquiring high quality assets for the Energy rEVolution supply chain, ILC aims to be the
partner of choice for investors in green -tech and to continue to build value for its
shareholders.
On behalf of the Board of Directors,
Kirill Klip
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Executive Chairman
www.internationallithium.com
For further information concerning this news release please contact +1 604-700-8912
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.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain “forward -looking
information” within the meaning of applicable securities law. Forward -looking information or
forward-looking statements in this news release may include: the timi ng and anticipated results
of drilling on the Mavis Lake Project, the expectation of feasibility studies, lithium recoveries,
modeling of capital and operating costs, results of studies utilizing membrane technology at the
Mariana Project, budgeted expenditures and planned exploration work on the Avalonia JV, and
continued agreement between the Company and Jiangxi Ganfeng Lithium Co. Ltd. regarding the
Company’s percentage interest in the Mariana project. Such forward -looking information is
based on a number of assumptions and subject to a variety of risks and uncertainties, including
but not limited to those discussed in the sections entitled “Risks” and “Forward -Looking
Statements” in the interim and annual Management’s Discussion and Analysis which are
available at www.sedar.com. While management believes that the assumptions made are
reasonable, there can be no assurance that forward -looking statements will prove to be
accurate. Should one or more of the risks, uncertainties or other factors materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from those described
in forward-looking information. Forward -looking information herein, and all subsequent written
and oral forward -looking information are based on expec tations, estimates and opinions of
management on the dates they are made that, while considered reasonable by the Company as
of the time of such statements, are subject to significant business, economic and competitive
uncertainties and contingencies. Thes e estimates and assumptions may prove to be incorrect
and are expressly qualified in their entirety by this cautionary statement. Except as required by
law, the Company assumes no obligation to update forward -looking information should
circumstances or management’s estimates or opinions change.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in the United States. The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended or any state securities
laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exempt ion
from such registration is available.