International Lithium Reports Results of 2018 Annual General Meeting
NEWS RELEASE
International Lithium Reports Results of 2018 Annual General Meeting
Vancouver, B.C., December 10, 2018 : International Lithium Corp. (TSX-V: ILC) (“ILC” or
the “Company”) is pleased to announce that all resolutions proposed at the Company’s annual
general and special meeting of shareholders held on December 10, 2018 were passed. All
agenda items outlined in the information circular for the meeting were approved and all director
nominees were elected, with over 85% of votes cast in favour of all the motions . The directors
elected for the ensuing year were: John Wisbey, Maurice Brooks, Nic holas Davies, Anthony
Kovacs and Ross Thompson.
The Company’s Chairman and CEO since March 2018, John Wisbey remarked:
“I would like to thank the shareholders of our Company, including our largest shareholders and
our two main mining partners Ganfeng Lithium and Pioneer Resources, for their strong support
of the new ILC leadership team.
The ILC team is now focused on val idating the opportunity of the 3,027 hectares of mineral
rights at the Company’s Raleigh Lake lithium hard rock project in Ontario and on working with
our partners Ganfeng Lithium on optimizing the value of the Mariana lithium brine project in
Argentina for which we last week released the results of a preliminary economic assessment
(PEA). We also plan on looking at new opportunities and, as previously advised, plan to raise
further capital in 2019.
It has been a challenging year for the share prices of almost all lithium companies including ILC,
partly owing to fears of future lithium oversupply which many now feel to be unfounded given
the expected high demand growth from electric vehicles and electric storage. The Company has
had its own special issues dealing with the sale in the market by our once parent company TNR
Gold Corp. (TSX-V:TNR) of over 60% of its shareholding in ILC since mid-March 2018. TNR ’s
residual holding in late November 2018 was down to 3.2 million shares.
We look forward to a good 2019 with a management team determined to create shareholder
value from its projects and to put the Company in a strong funding position to allow it to execute
well on its plans.”
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 Argentina and on the
Raleigh Lake project in Canada.
1030 West Georgia Street, Suite 1910
Vancouver, British Columbia
V6E 2Y3, Canada
T: +1-604-449-6520
www.internationallithium.com
2
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 a n 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 Ra leigh Lake, are interests in two other rare metal pegmatite properties in Ontario,
Canada known as the Mavis Lake and Forgan Lake projects, and the Avalonia 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.
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
3
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
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 limit ed 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 their en tirety 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.