Mr. John Wisbey reports
INTERNATIONAL LITHIUM CORP. REPORTS RESULTS OF 2024 ANNUAL GENERAL MEETING
All resolutions proposed at International Lithium Corp.'s annual general meeting of shareholders held on Sept. 16, 2024, were passed. All agenda items outlined in the information circular for the meeting were approved and all director nominees were elected, with over 99 per cent of votes cast in favour of all the motions. The directors elected for the ensuing year are John Wisbey, Maurice Brooks, Anthony Kovacs, Ross Thompson and Geoffrey Baker.
About International Lithium Corp.
The world has seen a significant governmental and public drive to move away from the energy market's historic dependence on oil and gas. In addition, International Lithium has seen the clear and increasingly urgent wish by the United States and Canada and other major economies to safeguard their supplies of critical metals and to become more self-sufficient. International Lithium's Canadian projects, which contain lithium, rubidium and copper, are strategic in that respect.
International Lithium's key mission in the next decade is to make money for its shareholders from lithium and other battery metals and rare metals while at the same time helping to create a greener, cleaner planet and less polluted cities. This includes optimizing the value of International Lithium's existing projects in Canada as well as finding, exploring and developing projects that have the potential to become world-class deposits. International Lithium has announced separately that the company regards Zimbabwe as an important strategic target market for International Lithium and that the company has applied for and hopes to receive EPOs there. International Lithium hopes to be able to make announcements over the next few weeks and months.
The company's interests in various projects now consist of the following, and, in addition, the company continues to seek other opportunities.
The company's primary strategic focus at this point is on the Raleigh Lake lithium and rubidium project and the Firesteel copper project in Canada and on obtaining EPOs and mineral claims in Zimbabwe.
The Raleigh Lake project consists of 48,500 hectares (485 square kilometres) of mineral claims in Ontario and is International Lithium's most significant project in Canada. Drilling has so far been on less than 1,000 hectares of International Lithium's claims. A preliminary economic assessment (PEA) was published for International Lithium's lithium at Raleigh Lake in December, 2023, with detailed economic analysis of International Lithium's separate rubidium resource still to come. Raleigh Lake is 100 per cent owned by International Lithium, is not subject to any encumbrances and is royalty-free. The project has excellent access to roads, rail and utilities.
A continuing goal has been to remain a well-financed company to turn International Lithium's aspirations into reality, and, following the disposal of the Mariana project in Argentina in 2021, the Mavis Lake project in Canada in January, 2022, and the Avalonia project in 2024, International Lithium has achieved sufficient inward cash flow to be able to make progress with its exploration projects, even before any fundraising.
With the increasing demand for high-technology rechargeable batteries used in electric vehicles and electrical storage as well as portable electronics, lithium has been designated the new oil, and is a key part of a green energy sustainable economy. By positioning itself with projects with significant resource potential and with solid strategic partners, International Lithium aims to be one of the lithium and rare metal resource developers of choice for investors and to continue to build value for its shareholders in the 2020s, the decade of battery metals.
We seek Safe Harbor.
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