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International Lithium Corp. options Wolf Ridge lithium prospect near Thunder Bay

Apr 26, 2022

International Lithium Corp. (TSXV: ILC) (the "Company" or "ILC") is pleased to announce the signing of an option agreement to acquire a 100% interest in 275 claim units (approximately 5,700 hectares) located 20 kilometres southwest of the town of Upsala, and 125 kilometres northwest of Thunder Bay.

The property, now known as the Wolf Ridge property, is a grass roots lithium prospect recently highlighted in the "Ontario Geological Survey Resident Geologist Program Recommendations for Exploration 2021-2022." The report highlights lithium potential in the Bedivere-Lac des Mille Lacs Lakes Area based on results from a lake sediment geochemical survey. An excerpt from page 54 of the report states:

"The Ontario Geological Survey (OGS) completed a lake sediment geochemical survey covering the Atikokan area (Dyer 1999a). A cluster of lake sediment lithium anomalies located on the north arm of Bedivere Lake returned the 6 highest lithium values, and the 9th highest value in the survey. These high lithium values range from 20.806 to 27.728 ppm Li," (see Figure 1).

S. Hamilton, OGS Senior Science Leader Geochemistry, provides a commentary on page 57 that suggests the lithium responses are underrepresented, and from local bedrock sources:

"The response observed in the Bedivere Lake area would if anything, be an under-representation of the actual lithium content in the sediments. Sometimes limnological or lake morphology-related overprints can cause sediment response in some elements (arsenic, for example) but I am not aware of any that affect lithium. Therefore, the response is very likely to originate from local bedrock sources."

The conclusions on page 57 provide justification for further lithium exploration: 

"There is very little to no known exploration for LCT pegmatites in the Bedivere-Lac des Mille Lacs lakes area. Exploration for LCT pegmatites in the Bedivere Lake area is recommended based on the cluster of lake sediment lithium anomalies located along a regional fault system and the occurrences of biotite granitic pegmatites mapped nearby. On a regional scale, the lake sediment lithium anomalies at Bedivere Lake are located approximately 10 km from a biotite granite intrusion and are situated near the Wabigoon-Quetico subprovince boundary."

The project is located only a few kilometres from the Trans-Canada Highway (Highway 17) and is easily accessible through a network of forest service roads. Like the Raleigh Lake project approximately 125 kilometres to the northwest, the Wolf Ridge project is host to excellent infrastructure with electrical power, road and rail networks and mining friendly communities all nearby.

The Company intends to conduct prospecting, mapping and geochemical surveys during the summer of 2022 as a first stage of exploration on the prospect.

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