Mr. John Wisbey reports

INTERNATIONAL LITHIUM CLOSES FINAL TRANCHE OF $1,880,000 PRIVATE PLACEMENT

International Lithium Corp. has closed the final tranche of its non-brokered private placement of units for proceeds of $148,759. On closing, the company issued 2,975,178 units.

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. The total funds raised pursuant to this private placement are $1.88-million, or 37.6 million units. 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.

Three non-arm's-length parties participated in this tranche of the private placement: John Wisbey (chief executive officer and a director), Maurice Brooks (chief financial officer and a director) and Ross Thompson (a director).

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.

Position following closing

On closing of this private placement, the company has outstanding securities outstanding as shown in the attached table.

Common shares                                                    132,595,902
Convertible debentures                                    
240,000 British pounds at seven cents, maturing 2019               5,862,857
$280,000 at 8.5 cents, maturing 2019                               3,294,118
$2,342,000 at 6.5 cents, maturing 2020                            36,030,769
Warrants at average exercise price of 10 cents                    18,800,000
Stock options at average exercise price of nine cents              9,085,000

Commenting on financing activities, John Wisbey, chairman and chief executive officer, said: "We finally see some signs of an improvement in what has been a very difficult market for most, if not all, junior mining companies, with a recovery in several companies' share prices, including our own. We are very grateful to all those who have invested a total of $1.88-million in the most recent financing, which was very important for us.

"Since I became CEO just over a year ago, we have now raised $1.88-million of equity and a further $3.1-million equivalent in convertible debenture financing. This total of about $5-million is considerably more than the amount raised by the company in any previous year, despite the difficult market. We need to keep the momentum up, and so we are immediately moving on to our next private placement of up to $1-million, which will complete our financing requirements for the first half of 2019. In our case, we hope that, if drilling at Raleigh Lake proves successful, it could be transformational for the company and justify the confidence by our investors."

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.

New private placement at six cents per unit

The company will conduct a private placement of up to 16,666,667 units at a price of six cents per unit for gross proceeds up to $1-million, which may include directors of the company. Each unit will consist of one common share of the company and one-half of a transferable common share purchase warrant. Each warrant will be exercisable into one common share in the capital of the company at an exercise price of nine cents per share, until June 30, 2021. The proceeds of the private placement will be used for exploration on the company's Raleigh and Mariana projects and for general working capital purposes.

The proposed issuance of private placement securities to non-arm's-length parties also constitutes a related party transaction under MI 61-101. Because the company's shares trade only on the TSX-V, 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.

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 Raleigh Lake project in Canada and the Mariana project in Argentina.

Complementing the company's lithium brine project at Mariana and rare metal pegmatite property at Raleigh Lake are interests in two other rare metal pegmatite properties in Ontario, Canada, known as the Mavis Lake and Forgan Lake projects, as well as the Avalonia project in Ireland, which encompasses an extensive 50-kilometre-long pegmatite belt.

We seek Safe Harbor.