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“International Lithium’s Raleigh Lake Project: Unparalleled Results with a 44.3% P.A. After-Tax IRR and CAD$342.9 million NPV!”

International Lithium Corp. (“ILC” or the “Company”) (TSXV: ILC) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) of its Raleigh Lake Lithium Project (“Raleigh” or the “Project”), located in Hardin County, Tennessee, USA.

The PEA, conducted by AGP Mining Limited (“AGP”), demonstrates that the Raleigh Lithium Project has a highly favourable and robust economics under the assumed set of conditions. Total indicative Capital Expenditure (“CAPEX”) of CAD$170.0 million (including contingency each of 15%) to be incurred in construction and 3 years operations for the project is economically viable.

The PEA shows an After-Tax Net Present Value (“NPV”) of CAD$342.9 million (8% discount rate, including owner’s cost) and an After-Tax Internal Rate of Return (“IRR”) of 44.3% at a long-term lithium price of US$9100/t and average Exchange Rate CAD/USD of 0.73.

The PEA contemplates conventional underground mining and a two-stage heap leach process to recover lithium from geologically defined mineralization. The mine plan is designed for an initial 10-year life with potential for life extension to 20 years. Mine pre-production starts in year 3 and produces the first lithium carbonate product in year 5, with commercial operations commencing in year 6.

The PEA study forecasts annual production of 18,500 tonnes per annum of lithium carbonate for 10 years. Average life of mine lithium carbonate recovery grade of 4.3% is calculated based on average head grades of 0.53% Li during the first 5 years of operations and 0.40% Li during the rest of the life.

Overall, the PEA project economics results for Raleigh are very promising and indicate that the project can generate commercial returns. With a favourable macro environment for the lithium space, ILC’s Raleigh Lake Lithium Project is a highly attractive asset to investors.

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