International Lithium Files Positive PEA of Mariana Lithium Brine Project, Salta, Argentina
NEWS RELEASE
International Lithium Files Positive PEA of Mariana Lithium
Brine Project, Salta, Argentina
Vancouver, B.C. January 22, 201 9: International Lithium Corp. (the “ Company” or “ ILC”)
(TSXV: ILC) is pleased to announce th at the technical report “ Preliminary Economic
Assessment of the Mariana Lithium Brine Project,“ or “PEA” with an effective date of November
15, 2018, (see the Company’s news release dated December 6, 2018 for further details) is now
filed under the Company’s profile on SEDAR.
PEA Highlights:
25-year mine life producing 10,000 tonnes per year ( “TPY”) Lithium Carbonate
Equivalent (“LCE”) plus 84,000 TPY Sulphate of Potash (“SOP”).
The estimated CAPEX and OPEX are for a conventional brine extraction facility, solar
evaporation ponds and SOP processing with a level of accuracy of -30/+50%.
CAPEX estimated at US $243 million for 25-year mine life.
NPV = US $192 million after-tax at 10% discount rate, IRR = 20% post-tax.
Project results remain positive, even with important negative variations on the driver
variables, indicating project strength and resilience; thus, the PEA study indicates
Mariana’s proposed 10,000 TPY LCE concentrated brine and 84,000 TPY SOP fertilizer
operation has the potential to generate strong economic returns.
The PEA was prepared by Advisian, a division of the WorleyParsons Group, for Mariana Lithium
Corp. to provide a PEA of its Mariana Lithium Brine Project in accordance with National
Instrument 43 -101 – Standards of Disclosure for Mineral Projects (“NI 43 -101”). The PEA
technical report assesses the potential economic viability of developing the 14 exploration
licenses (Minas), that cover the Salar de Llullaillaco (the Salar) and surrounding area (23,560
hectares), for the purpose of extraction of lithium brine resources and processing of two
products - Lithium Carbonate Equivalent and Sulphate of Potash. All figures are quoted in US
dollars. It should be noted that the Comapny did not play any significant part in the production of
the PEA report, and that the conclusions are therefore those of the consultants.
Current ownership of the Mariana Project is through a joint venture company, Litio Minera
Argentina S. A., a private company registered in Argentina, owned 82.754% by Ganfeng Lithium
through its wholly-owned subsidiary, Mariana Litihium Corp. and 17.246% by ILC . In addition,
ILC has an option to acquire another 10% in the Mariana Project through a back-in right.
1030 West Georgia Street, Suite 1910
Vancouver, British Columbia
V6E 2Y3, Canada
T: +1-604-449-6520
www.internationallithium.com
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Cautionary Note:
The preliminary economic assessment (PEA) is preliminary in nature, and it includes inferred
mineral resources that are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be categorized as mineral reserves,
and there is no certainty that the preliminary economic assessment will be realized . The PEA
includes the results of an economic analysis of mineral resources, and mineral resources that
are not mineral reserves do not have demonstrated economic viability.
The information contained in this news release relating to the PEA has been compiled by
Advisian Americas, a division of the WorleyParsons Group. The information has been reviewed
and approved by Stanislaw Kotowski, P.Eng., M.Sc., of Advisian. Mr. Kotowski is a "Qualified
Person" as the term is defined in NI 43-101 and is independent of ILC. WorleyParsons has
reviewed and approved the presentation of the PEA information in this news release.
Afzaal Pirzada, P. Geo., a Qualified Person as defined by NI 43-101 and a consultant to the
Company, has reviewed and approved the technical content in this news release.
About International Lithium Corp.
International Lithium Corp. has a significant portfolio of projects, strong management, and a
strategic partner and key investor, Jiangxi Ganfeng Lithium Co. Ltd., (“ Ganfeng Lithium ”) a
leading China-based lithium product manufacturer.
The Company’s primary strategic focus is now on the Mariana project in Arg entina and on the
Raleigh Lake project in Canada.
The Company has a 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, tota lling 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, Litio Minera Argentina S. A., a private company registered in Argentina,
owned 82.754% by Ganfeng Lithium and 17.246% by ILC . In addition, ILC has an option to
acquire 10% in the Mariana project through a back-in right.
The Raleigh Lake project, now consisting of 3,027 hectares of adjoining mineral claims in
Ontario, is now regarded by ILC management as ILC’s most significant project in Canada. It
is 100% owned by ILC, is not subject to any encumbrances, and is royalty free.
Complementing the Company’s lithium brine project at Mariana and rare metal pegmatite
property at Raleigh Lake, are interests in two other rare metal pegmatite properties in Ontario,
Canada known as the Mavis Lake and Forgan Lake projects, and the Av alonia project in
Ireland, which encompasses an extensive 50-km-long pegmatite belt.
The ownership of the Mavis Lake project is now 51% Pioneer Resources Limited (ASX:PIO,
“Pioneer”) and 49% ILC. In addition, ILC owns a 1.5% NSR on Mavis Lake. Pioneer has an
option to earn an additional 29% by sole -funding a further CAD $8.5 million expenditures of
exploration activities, at which time the ownership will be 80% Pioneer and 20% ILC.
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The Forgan Lake project will, upon Ultra Lithium meeting its contractual requirements
pursuant to its agreement with ILC, become 100% owned by Ultra Lithium (TSXV: ULI), and
ILC will retain a 1.5% NSR on Forgan Lake.
The ownership of the Avalonia project is currently 55% Ganfeng Lithum and 45% ILC.
Ganfeng Lithium has an option to earn an additional 24% by either incurring CAD $10
million expenditures on exploration activities or delivering a positive feasibility study on the
project, at which time the ownership will be 79% Ganfeng Lithum and 21% ILC.
With the inc reasing demand for high tech rechargeable batteries used in electric vehicles
and electrical storage as well as portable electronics, lithium has been designated “the new
oil”, and is a key part of a “green tech”, sustainable economy. By positioning itself with solid
strategic partners and projects with significant resource potential, ILC aims to be one of the
lithium and battery metals resource developers of choice for investors and to continue to
build value for its shareholders.
International Lithium Co rp.’s mission is to find, explore and develop projects that have the
potential to become world class lithium, potash and rare metal deposits. A key goal is to
become a well funded company to turn that aspiration into reality.
On behalf of the Company,
John Wisbey
Chairman and CEO
www.internationallithium.com
For further information concerning this news release please contact +1 604-449-6520
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 or other news releases may include: the effect of results of
the preliminary economic assessment of the Mariana Joint Venture Project, timing of publication
of the PEA technical report, anticipated production rates, the timing and/or anticipated results of
drilling on the Raleigh Lake or Mavis Lake projects, 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 J oint Venture, satisfactory completion of the sale of mineral rights at Forgan Lake ,
satisfactory completion of the purchase of additional mineral rights at Raleigh Lake , increased
value of shareholder investments, and continued agreement between the Company and Jiangxi
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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 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
and competitive uncertainties and contingencies. These estimates and assumptions may prove
to be incorrect and are expressly qualified in th eir 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.