International Lithium Corp. announced a maiden Mineral Resource Estimate for the Raleigh Lake Lithium Project, located approximately 25 km west of Ignace, Ontario, Canada. This MRE will be published in a related NI 43-101 Technical Report within 45 days of the release of this press release.

The Project includes MREs for both lithium and rubidium. The two MREs are closely related due to their spatial relationships, but their respective resource estimates are considered separate and unique. Lithium within the Raleigh Lake deposit is hosted within spodumene laths that are generally green in colour and range in size from less than 1 cm to greater than 8 cm.

Pegmatites within the Deposit are weakly zoned and spodumene mineralization is relatively homogenous throughout. The open pit and underground MREs are constrained via optimized pit shell and minable shape wireframes, respectively. An independent MRE has been calculated for the rubidium contained within microcline zones of the LCT pegmatites.

Rubidium also occurs throughout the LCT pegmatites within the lithium-bearing spodumene at a lower cutoff but is not included in this rubidium MRE. Rubidium reaches grades greater than 4,000 ppm are attributed to pockets of high modal abundance of microcline (potassic feldspar). Rubidium has thus been constrained to a higher cutoff to separate it from the lithium resource, allowing rubidium and lithium to be mined and presented separately.

The open pit and underground MREs are constrained via optimized pit shell and minable shape wireframes, respectively. The Project is located within the Wabigoon Subprovince of the Canadian Shield's Archean Superior Province. The LCT pegmatites within the Property occur in a zone striking south-southeast and are approximately 1.5 km wide and at least 4 km in length.

Pegmatites within the Deposit are members of the albite-spodumene sub-type of rare metal pegmatites. Underlying host rock of the Deposit are Archean supracrustal rocks of mafic metavolcanics and their metasedimentary equivalents, and bordering the pegmatites is the Revell Lake Batholith. Micaceous phases of the intrusives are interpreted to be the parent of the rare element bearing pegmatites of the Raleigh Lake pegmatite field.

The two dominant pegmatites within the Project are referred to as pegmatite #1 and #3, both of which outcrop on surface and are exposed at 200 m and 50 m in strike length, respectively. Diamond drilling has proven lateral continuity of approximately 800 m and ranging in width from 3.9 m to 8.0 m for Pegmatite #1 and approximately 700 m with an average thickness of 1.2 m for Pegmatite #3. Figure 3 below shows the modelling of the pegmatites within the Raleigh Lake pegmatite field based on a grade cutoff of 500 ppm lithium in drillhole assays. Pegmatites form shallowly to moderately dipping, north-northeasterly trending, undeformed sheets with significant potential for additional lateral continuity.

The pegmatites are strongly fractionated and display overall weak zonation, suggesting that strongly enriched rare-metal zonation may exist within extensions and untested areas of the main pegmatites. Crude zonation is evident in wider pegmatites with albite- rich bounding zones and 'core' zones of albite-quartz-muscovite or spodumene-potassium feldspar- albite. "Pockets" of a high modal abundance of microcline exist within Pegmatite #1 and which correspond to high grade rubidium concentration.

Occurrences of holmquistite (lithium-bearing mica) have also been noted within Pegmatite #2. ILC has retained Nordmin Engineering Ltd., based in Thunder Bay, Ontario, to prepare an independent lithium (spodumene-hosted) and rubidium (microcline-hosted) MRE for the Project and to prepare a Technical Report consistent with the standards and guidelines set out by the Canadian Institute of Mining, Metallurgy and Petroleum and in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. In preparation of the MRE and Report, Nordmin applied processes that were appropriate for lithium pegmatite-style deposits.