Mr. John Wisbey reports

SALE COMPLETION OF NON-CORE IRISH ASSETS FOR CAD$ 2.5 MILLION

International Lithium Corp. has completed the sale of all its interest in the Avalonia project in Ireland and in Blackstairs Lithium Ltd., the company that owns that project.

As announced on Sept. 17, 2024, the company's interest in the Avalonia project was sold then to GFL International Co. Ltd., a subsidiary of Ganfeng Lithium Group Co. Ltd., for a consideration of $2.2-million plus a 2-per-cent net smelter royalty. The company reports that it has now sold its shareholding in Blackstairs Lithium to GFL for an additional $300,000. The final $1-million of the consideration for the $2.2-million Avalonia project is payable by GFL in October, 2025.

John Wisbey, chairman and chief executive officer of International Lithium, commented: "We are pleased to have completed the sale of our interest in the Avalonia project to GFL, who was our partner in Ireland. This divestment allows us to focus on our wholly owned or majority-owned projects in Canada and on progressing identified opportunities in Southern Africa. We have a strong 11-year relationship with Ganfeng, and we will welcome working with Ganfeng again on future projects when there is a mutual interest in doing so."

About International Lithium Corp.

While the world's politicians are currently divided on the future of the energy market's historic dependence on oil and gas and on net zero, there seems to be a clear and unstoppable momentum toward electric vehicles and electric battery storage. The company has also 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. The company'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 playing its part in creating a greener, cleaner planet and less polluted cities. This includes optimizing the value of the company'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 (exclusive prospecting orders) 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 consists 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 now consists of 32,900 hectares (329 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 the company'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. 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 (sale not completed yet), International Lithium has achieved sufficient inward cash flow to be able to make progress with its exploration projects.

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 metals 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.