International Lithium Corp. AGM Chairman's Statement
International Lithium Corp. AGM Chairman's
Statement
Vancouver, British Columbia--(Newsfile Corp. - December 22, 2025) - International Lithium
Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "
Company
" or "
ILC
") will hold its 2025 Annual
General Meeting today, December 22, at 9.30 a.m. Pacific Time. At that meeting, John Wisbey,
Chairman and CEO, will make the following statement:
"Good morning, and welcome to the 2025 Annual General Meeting of International Lithium Corp.
("ILC" or the "Company"). I would like to share a few comments on the year-to-date and the outlook
ahead before proceeding with formalities.
"In summary, 2025 has been a successful year for ILC, improved further by a major turnround
in the lithium market from June onwards. The Company completed the sale of its Avalonia
property in Ireland, and made a major advance in Southern Africa through obtaining an option
to acquire an 80% interest in the company owning the important Karibib project in Namibia. It is
important to note that ILC has become much more than a lithium company, and the expansion
into other critical minerals will be especially notable if ILC exercises its option in Namibia. As
well as lithium, the Karibib project contains the largest declared rubidium resource in Africa, and
also enough cesium that, when refined, would meet a year of global demand. Rubidium and
cesium are both valuable critical metals with multiple commercial uses.
"The year for the lithium market has been one of two halves. In H1 2025, the lithium price, and that of
related minerals such as spodumene, continued to be very weak, reaching a low in June of circa 10%
of the 2023 highs. This, combined with the resultant impact on share prices, was painful for every
company in the lithium sector, including ILC. However, in H2 2025, the position has seen a
considerable improvement.
"While much of the commodity market's focus has been on gold, silver and platinum, the rebound in
lithium prices has not been widely reported and has been largely overlooked. Yet in H2 2025, the
spodumene price has risen by more than 100%, outperforming all precious metals. Most of that gain
has come in Q4 2025. The main benchmark lithium carbonate price Li
2
CO
3
has risen by around 65%
from its June 2025 lows. If this trend continues, it will be very positive for the lithium sector.
"The Company's flagship Raleigh Lake project in Ontario, Canada is again, at today's prices for
spodumene, an economically viable project even if ILC were to focus solely on lithium. Moreover, it
also carries a significant rubidium resource, and one of ILC's goals in 2026 is to put a formal
economic value on that rubidium resource, as we did in the PEA for lithium two years ago.
"In September 2025, ILC announced that it had acquired an option to buy Lepidico's 100% interest in
Lepidico Mauritius for C$975,000. This brings with it an 80% interest in the Namibian company that
owns 100% of the Karibib Lithium, Rubidium and Cesium project. As announced at the time, this is a
major project that has received substantial investment and, indeed, reached the Definitive Feasibility
Study stage under JORC in 2020. If the option is exercised, ILC will have a major stake in the largest
declared rubidium resource in Africa and one of the largest in the world. There is also enough cesium
at Karibib that, when refined, could meet a year of world demand. We are still waiting for the outcome
of an arbitration case that Lepidico is engaged in and will decide whether or not to exercise the option
shortly after receiving that result.
Lepidico's 80% ownership of Karibib resulted from its 2019 acquisition of TSXV-listed Desert Lion
Energy in exchange for shares and other securities valued at that time at AUD$ 22.9 million
(approximately CAD$20.7 million). Since acquiring the company in 2019, Lepidico invested a further
AUD$ 12.1 million (approximately CAD$ 10.9 million) in the Karibib project, excluding central group
overheads, with a significant portion directed towards drilling, an environmental study and
subsequently a Definitive Feasibility Study and a further Resource Estimate.
This project could become highly important to ILC in 2026, and the Company's Southern Africa
strategy will hopefully also be supplemented by progress on the announced Zimbabwe EPO
applications.
"The Company completed the sale of the Avalonia project in Ireland to a subsidiary of its partner,
Ganfeng Lithium, whereby ILC also retains a 2% Net Smelter Royalty. The total of C$2.5m generated
from this was used to advance the investment in the Namibian project and other ongoing initiatives.
Outlook
"The good work done in 2025, and the upturn in the lithium market, gives a strong possibility of 2026
being a successful period for ILC. As well as extra work at the flagship Raleigh Lake project
in
Canada, if ILC exercises its option to buy Lepidico Mauritius, it will, at Karibib in Namibia, have a
project that could otherwise have taken several years and tens of millions of dollars to bring a similar
greenfield project to the same stage, let alone the time to identify such a project. Karibib would bring
ILC not only lithium, but also a world-class resource in rubidium and one of the larger cesium deposits
not controlled by a Chinese company.
"Lithium and spodumene prices are now back up to the level where mine development is
economically viable at Canadian prices. If their rise continues, this will be positive for ILC and the
lithium industry overall. ILC's additional focus on rubidium and cesium gives further strings to its bow
that could turn ILC into a much larger company.
"In closing, I would like to take this opportunity to wish all of our valued shareholders, advisors and
other stakeholders a Merry Christmas and a happy, healthy and prosperous New Year."
On behalf of the Company,
John Wisbey
Chairman and CEO
www.internationallithium.ca
For further information concerning this news release, please contact +1 604-449-6520 or
or
.
_______________________________________________________________________________________
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 or other releases contain certain "forward-
looking information" within the meaning of applicable securities law. Forward-looking information or
forward-looking statements in this or other news releases may include: the timing of completion of any
offering and the amount to be raised, the likelihood or otherwise of the Company exercising its option
on Lepidico Mauritius, the outcome of arbitration involving Lepidico Namibia, the effect of results of
anticipated production rates, the timing and/or anticipated results of drilling on the Karibib or Raleigh
Lake or Firesteel or Wolf Ridge projects, the expectation of resource estimates, preliminary economic
assessments, feasibility studies, lithium or rubidium or copper recoveries, modeling of capital and
operating costs, results of studies utilizing various technologies at the company's projects, the
Company's budgeted expenditures, future plans for expansion in Southern Africa and planned
exploration work on its projects, increased value of shareholder investments in the Company, the
potential from the Company's third party earn-out or royalty arrangements, the future demand for
lithium, rubidium, cesium and copper, and assumptions about ethical behaviour by our joint venture
partners or third party operators of projects or royalty partners. Such forward-looking information is
based on 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.sedarplus.ca
. 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 expectations, 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, legislative,
and competitive uncertainties and contingencies. These 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/278761