Mr. John Wisbey reports

INTERNATIONAL LITHIUM CLOSES $1,200,000 FIRST TRANCHE OF PRIVATE PLACEMENT

International Lithium Corp. has closed the first tranche of its non-brokered private placement of units for proceeds of $1.2-million. On closing, the company issued 24 million shares and 12 million warrants. The securities were issued pursuant to a private placement of up to 50 million units at a price of five cents per unit to raise gross proceeds up to $2.5-million. Each unit consists of one common share of the company and one-half of a transferable common share purchase warrant. Each warrant is exercisable into one common share in the capital of the company at an exercise price of 10 cents per share for two years from issue.

Four non-arm's-length parties participated in the private placement for total subscriptions of $650,000: chief executive officer and director John Wisbey; chief financial officer and director Maurice Brooks; and directors Anthony Kovacs and Ross Thompson.

The proceeds of the private placement will be used for exploration and the company's Raleigh and Mariana projects and for general working capital purposes. All private placement securities will be restricted from trading for a period of four months plus one day from the date of closing.

The issuance of private placement securities to non-arm's-length parties constitutes related party transactions 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 as the details of the participation of insiders of the company had not been confirmed at that time.

About International Lithium Corp.

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

The company's primary strategic focus is now on the Mariana project in Argentina and on the Raleigh Lake project in Canada.

We seek Safe Harbor.