Mr. John Wisbey reports

INTERNATIONAL LITHIUM CLOSES SECOND TRANCHE OF CAD$1,800,000 PRIVATE PLACEMENT

International Lithium Corp. has closed the second tranche of its previously announced $1.8-million non-brokered private placement of secured convertible debentures to raise proceeds of $900,000. This brings the total funds raised for this private placement to $1,175,000. The company expects a further final tranche closing.

The debentures will mature on June 30, 2019, and bear interest at a rate of 15 per cent per year (payable quarterly). The debentureholders may convert, at any time, all or a portion of the convertible loan principal into common shares of the company at a price of 8.5 cents per common share.

The debenture will be secured by a general security agreement against the company's assets. All private placement securities will be restricted from trading for a period of four months and one day from closing. The company has the right to give notice of repayment of the convertible debenture at any time after three months from the date of advance. Although, in this event, the debentureholder has the right to convert into shares rather than receiving repayment.

John Wisbey, chief executive officer, commented: "The board's and my first priority when I took over as CEO on March 14, was to bring ILC's accounts payable and commitments up to date. This was achieved with issuance of the $1.18-million 2018 Series 1 convertible debentures and with the first closing of $275,000 of the 2018 Series 2 convertible debentures. Now we have closed a further $900,000 and, in addition, we already have further commitments for $235,000 of the final tranche, which, if honoured, will bring the total in the Series 2 convertible debenture to $1.41-million out of $1.8-million. This achieves my short-term goal of getting ILC ahead of the funding curve and, of course, the aim now is to stay there. We hope that the confidence that new investors have had in the company will be rewarded in due course thanks to this improved position."

Directors and officers of the company participated in the private placement. The issuance of private placement securities to non-arm's-length parties constitutes a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Because the company's shares trade only on the TSX Venture Exchange, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101, and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Section 5.7(b). The company did not file a material change report 21 days prior to the closing of the private placement because the company wished to complete the private placement in a timely manner.

About International Lithium Corp.

International Lithium has a significant portfolio of projects, strong management, and a strategic partner and keystone investor, Jiangxi Ganfeng Lithium Co. Ltd., a leading China-based lithium product manufacturer.

The company's primary focus is the 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.

We seek Safe Harbor.