Mr. John Wisbey reports

INTERNATIONAL LITHIUM ANNOUNCES PRIVATE PLACEMENT

International Lithium Corp. has arranged a non-brokered private placement of up to 66,666,667 common shares at 1.5 cents per share to raise gross proceeds of up to $1-million. The company may pay finders' fees on a portion of the placement.

Proceeds of the private placement will be used partly to allow the company to invest in growing its southern African and Canadian operations, and partly for general working capital purposes. Payments to persons conducting investor relations activities are expected not to exceed 10 per cent of the proceeds.

Closing of the offering is subject to acceptance by the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a four-month hold period from the date of issuance under applicable Canadian securities laws.

It is anticipated that some directors and insiders will participate in this offering. The issue of shares (to the extent subscribed for by insiders) constitute related party transactions pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as the subscribers include directors of the company. The company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the shares in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the shares does not exceed 25 per cent of the company's market capitalization.

The company has now closed its non-brokered private placement originally announced on Feb. 5, 2025. Under the terms of the private placement, the company on March 31, 2025, issued 23,666,666 common shares at 1.5 cents per share, raising gross proceeds of $355,000. Closing of the private placement is subject to acceptance by the TSX Venture Exchange. No fees were payable on the transaction and the payments to persons conducting investor relations activities were not more than 10 per cent of the proceeds. The proposed payments from the proceeds included $183,600 to pay outstanding fees to non-arm's-length creditors.

About International Lithium Corp.

International Lithium has exploration activities in Ontario, Canada, with intentions to expand into southern Africa. It has projects at various stages, ranging from preliminary economic assessment at Raleigh Lake to predrilling at Wolf Ridge. The primary target metals in Canada are lithium, rubidium and copper. There are three projects (two in Ontario and one in Ireland) in which International Lithium has sold its share but where it stands to receive future payments from either a resource milestone being achieved or from a net smelter royalty.

While the world's politicians are currently divided on the future of the energy market's historical dependence on oil and gas and on net zero, there seems to be a clear and unstoppable momentum toward electric vehicles, solar power and electric battery storage, all of which contribute to rising demand for lithium. Rubidium is increasingly seen as a valuable critical metal that is strategic for high-precision clocks and for space technology. Copper has many historical uses, but demand is projected to be sharply higher as more data centres are required for AI (artificial intelligence). International Lithium has seen the clear and increasingly urgent wish by the United States, 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 for the next decade is to generate revenue for its shareholders from lithium and other battery metals, as well as rare metals, while also contributing to the creation of 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 separately announced that it regards southern Africa as a key strategic target market for the company, and that it has applied for and hope to receive EPOs (exclusive prospecting orders) in Zimbabwe. International Lithium hopes to make further announcements on the portfolio developments over the next few weeks and months.

The company's interests in various projects are detailed in the attached table, and in addition, the company continues to seek other opportunities.

The company's primary strategic focus at this point is on the Raleigh Lake project, comprising lithium and rubidium, and the Firesteel copper project in Canada, as well as obtaining EPOs and mineral claims in Zimbabwe.

The Raleigh Lake project now encompasses 32,900 hectares (329 square kilometres) of mineral claims in Ontario and represents International Lithium's most significant project in Canada. To date, drilling has occurred on less than 1,000 hectares of International Lithium's claims. A preliminary economic assessment was published for International Lithium's lithium at Raleigh Lake in December, 2023, with a detailed economic analysis of International Lithium's separate rubidium resource still pending. Raleigh Lake is 100 per cent owned by International Lithium, free from any encumbrances and royalties. The Raleigh Lake project boasts 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 2022 and the Avalonia project in 2024, International Lithium continues to achieve sufficient inward cash flow to be able to make progress with its exploration projects.

With the increasing demand for high-tech rechargeable batteries used in electric vehicles, electrical storage and 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 that have significant resource potential and solid strategic partners, International Lithium aims to be one of the preferred lithium and rare metals resource developers for investors, and to continue building value for its shareholders for the rest of the 2020s, the decade of battery metals.

We seek Safe Harbor.