Mr. John Wisbey reports

INTERNATIONAL LITHIUM INTERSECTS 4.7 METRES OF SPODUMENE PEGMATITE AT THE JOHNSON PEGMATITE, RALEIGH LAKE PROJECT, ONTARIO, CANADA

A drilling program currently under way at International Lithium Corp.'s Raleigh Lake lithium and rubidium project near Ignace, Ont., has intersected new spodumene pegmatite occurrences in the project's zone 4 region which includes the historic Johnson pegmatite.

International Lithium began an exploration drill program on Aug. 3, 2023, to test targets defined by surface geological, geochemical and geophysical interpretations near zone 1 and the recently defined mineral resource estimate area (see news release dated April 13, 2023). To date six drill holes have been completed (RL23-65 to RJ23-70) with two drill holes drilled immediately north of the zone 1 mineral resource (RL23-65 and 66) and four drill holes farther north, down dip and along strike of the outcropping Johnson pegmatite (now referred to as zone 4).

All drill holes except for RL23-69 intersected spodumene-bearing pegmatites.

The drilling within zone 4 has intersected pegmatites over a strike length greater than 300 metres with true thicknesses approaching five metres. The pegmatites correlate well with historic mapping of the Johnson pegmatite and historic drilling where the only hole drilled at the Johnson target intercepted a three-metre interval of microcline pegmatite grading up to 0.466 per cent Rb2O (rubidium oxide) over 1.12 metres starting at 45.3 metres down-hole depth. Several other samples from this historic hole returned highly anomalous rubidium assays. The company believes that the Johnson pegmatite has the potential to become an additional rubidium resource as the microcline mineralization bears a close resemblance to that at pegmatite 1. The presence of spodumene also indicates that additional lithium resources might be delineated in zone 4. Zone 4 was also historically targeted for tantalum mineralization and some columbite is thought to be observed in the recent drilling. The company intends to follow up with some additional down-dip drilling at zone 4 before moving on to other targets defined at depth in zone 1 and possibly zone 3.

Executive comment

John Wisbey, chairman and chief executive officer of International Lithium, commented:

"While we await the PEA results later this year on our work to date at zone 1 following the declaration of our maiden resource estimates at Raleigh Lake in March, 2023, for lithium and separately for rubidium, it is very encouraging to have confirmed the likelihood that there is further rubidium and lithium in zone 4. We will continue to update the market as soon as there is meaningful extra news."

About International Lithium Corp.

International Lithium believes that the world faces a significant turning point in the energy market's dependence on oil and gas and in the governmental and public view of climate change. In addition, it has seen the clear and increasingly urgent wish by the United States and Canada to safeguard their supplies of critical battery metals and to become more self-sufficient. The company's Canadian projects are strategic in that respect.

The company's primary strategic focus at this point is on the Raleigh Lake lithium and rubidium project in Canada and on identifying additional properties in Canada and Zimbabwe.

Patrick McLaughlin, PGeo, a qualified person as defined by National Instrument 43-101, has verified the disclosed technical information and has reviewed and approved the contents of this news release.

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