Sale Completion of Non-Core Irish Assets for CAD$ 2.5 million Asset Portfolio Overview
Sale Completion of Non-Core Irish Assets for
CAD$ 2.5 million
Asset Portfolio Overview
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - International Lithium Corp. (TSXV: ILC)
(OTCQB: ILHMF) (FSE: IAH) (the "
Company
" or "
ILC
") is pleased to announce that it has completed
the sale of all its interest in the Avalonia Project in Ireland and in Blackstairs Lithium Ltd, the company
that owns that project.
As announced on September 17, 2024, the Company's interest in the Avalonia Project was sold then to
GFL International Co., Limited ("GFL"), a subsidiary of Ganfeng Lithium Group Co., Ltd. ("Ganfeng"), for
a consideration of CAD$ 2.2 million plus a 2% Net Smelter Royalty. The Company reports that it has
now sold its shareholding in Blackstairs Lithium to GFL for an additional CAD$ 0.3 million. The final
CAD$ 1.0 million of the consideration for the CAD$ 2.2 million Avalonia Project is payable by GFL in
October 2025.
John Wisbey, Chairman and CEO of ILC, commented:
"We are pleased to have completed the sale of our interest in the Avalonia Project to GFL who was our
partner in Ireland. This divestment allows us to focus on our wholly owned or majority-owned projects in
Canada and on progressing identified opportunities in Southern Africa. We have a strong 11-year
relationship with Ganfeng, and we will welcome working with Ganfeng again on future projects when
there is a mutual interest in doing so."
About International Lithium Corp.
International Lithium Corp. has exploration activities in Ontario, Canada, with intentions to expand into
Southern Africa. It has projects at various stages, ranging from Preliminary Economic Assessment at
Raleigh Lake to Pre-Drilling at Wolf Ridge. The primary target metals in Canada are lithium, rubidium
and copper. There are three projects (two in Ontario and now one in Ireland) in which ILC has sold its
share but where we stand to receive future payments from either a resource milestone being achieved or
from a Net Smelter Royalty.
While the world's politicians are currently divided on the future of the energy market's historic
dependence on oil and gas and on "Net Zero", there seems to be a clear and unstoppable momentum
towards electric vehicles, solar power and electric battery storage, all of which contribute to rising
demand for lithium. Rubidium is increasingly seen as a valuable critical metal that is strategic for high-
precision clocks and for space technology. Copper has many historical uses, but demand is projected to
be sharply higher as more data centres are required for AI. We have seen the clear and increasingly
urgent wish by the USA, Canada, and other major economies to safeguard their supplies of critical
metals and to become more self-sufficient. Our Canadian projects, which contain lithium, rubidium and
copper, are strategic in that respect.
Our key mission for the next decade is to generate revenue for our shareholders from lithium and other
battery metals, as well as rare metals, while also contributing to the creation of a greener, cleaner planet
and less polluted cities.
This includes optimizing the value of our existing projects in Canada as well as finding, exploring and
developing projects that have the potential to become world-class deposits. We have separately
announced that we regard Southern Africa as a key strategic target market for ILC and that we have
applied for and hope to receive EPOs in Zimbabwe. We hope to make further announcements on the
portfolio developments over the next few weeks and months.
The Company's interests in various projects now consist of the following, and in addition, the Company
continues to seek other opportunities:
Name
Metal
Location
Stage
Area in
Hectares
Current
Ownership
Percentage
Future Ownership
% if options
exercised and/or
residual interest
Operator or
JV Partner
Raleigh
Lake
Lithium
Rubidium
Ontario
Dec 2023: PEA
for Li completed
Apr 2023 Maiden
Resource Estimates
for Li and Rb
32,900
100%
100%
ILC
Firesteel
Copper
Cobalt
Ontario
Aeromagnetics
and Drilling
started mid 2024
6,600
90%
90%
ILC
Wolf
Ridge
Lithium
Ontario
Pre-Drilling
5,700
0%
100%
ILC
Mavis
Lake
Lithium
Ontario
May 2023
Maiden Resource
Estimate
2,600
0%
0%
(carries an extra
earn-in payment of
AUD$ 0.75 million
if resource targets
met)
Critical
Resources
Ltd
(ASX: CRR)
Avalonia
Lithium
Ireland
Drilling
29,200
0%
0%
2.0% Net Smelter
Royalty
GFL Intl Co Ltd
(owned by Ganfeng
Lithium Group
Co.Ltd)
Forgan/
Lucky Lakes
Lithium
Ontario
Drilling
< 500
0%
0%
1.5% Net Smelter
Royalty
Power
Minerals Ltd
(ASX: PNN)
The Company's primary strategic focus at this point is on the Raleigh Lake Project, comprising lithium
and rubidium, and the Firesteel copper project in Canada, as well as obtaining EPOs and mineral
claims in Zimbabwe.
The Raleigh Lake Project now encompasses 32,900 hectares (329 square kilometres) of mineral claims
in Ontario and represents ILC's most significant project in Canada. To date, drilling has occurred on less
than 1,000 hectares of our claims. A Preliminary Economic Assessment was published for ILC's lithium
at Raleigh Lake in December 2023, with a detailed economic analysis of ILC's separate rubidium
resource still pending. Raleigh Lake is 100% owned by ILC, free from any encumbrances and royalties.
The Raleigh Lake Project boasts excellent access to roads, rail, and utilities.
A continuing goal has been to remain a well-funded company to turn our aspirations into reality.
Following the disposal of the Mariana project in Argentina in 2021, the Mavis Lake project in Canada in
2022, and now the Avalonia project, ILC continues to achieve sufficient inward cash flow to be able to
make progress with its exploration projects.
With the increasing demand for high-tech rechargeable batteries used in electric vehicles, electrical
storage, and portable electronics, lithium has been designated "the new oil" and is a key part of a green
energy, sustainable economy. By positioning itself with projects that have significant resource potential
and solid strategic partners, ILC aims to be one of the preferred lithium and rare metals resource
developers for investors and to continue building value for its shareholders for the rest of the 2020s, the
decade of battery metals.
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 time when the Company will receive the remaining
consideration payable by Ganfeng for the Avalonia Project, the effect of results of anticipated
production rates, the timing and/or anticipated results of drilling on the 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 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.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, 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/257488