Mr. John Wisbey reports

EARLY WARNING NEWS RELEASE

This news release is issued by John Wisbey pursuant to National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, and National Instrument 62-104, Take-Over Bids and Issuer Bids, with respect to the acquisition of common shares in the capital of ILC Critical Minerals Ltd. (the issuer). The shares are listed on the TSX Venture Exchange. The head office of the issuer is located at 789 West Pender St., Suite 1120, Vancouver, B.C., V6C 1H2, and its registered office address is located at Bentall 5, 550 Burrard St., Suite 2501, Vancouver, B.C., V6C 2B5.

On June 23, 2026, the issuer closed a non-brokered private placement offering of 19,125,000 shares at two cents per share for gross proceeds of $382,500. Mr. Wisbey, the chairman and chief executive officer of the issuer, participated in the transaction and acquired 10,766,900 shares for total consideration of $215,338.

Immediately prior to the transaction, Mr. Wisbey beneficially and directly owned and controlled 70,245,841 shares, comprising: (i) 29,038,678 shares held directly; (ii) 37,357,163 shares registered to Killik Trustees re John Wisbey; (iii) 430,000 shares registered indirectly to Mr. Wisbey through Swiss Alternative Financing AG; and (iv) 3.42 million stock options held directly, each of which is exercisable into one share at a price of 12 cents per share until Nov. 4, 2026. Immediately prior to the transaction, these shares represented approximately 24.53 per cent of the issuer's issued and outstanding shares on a non-diluted basis and approximately 25.47 per cent on a partially diluted basis, partially meaning the scenario that Mr. Wisbey exercises all his options but no one else exercises any.

Immediately subsequent to the transaction, Mr. Wisbey beneficially and directly owned and controlled 81,012,741 shares, comprising: (i) 39,805,578 shares held directly; (ii) 37,357,163 shares registered to Killik Trustees re John Wisbey; (iii) 430,000 shares registered indirectly to Mr. Wisbey through Swiss Alternative Financing; and (iv) 3.42 million options as detailed above. Immediately subsequent to the transaction, these shares represented approximately 26.62 per cent of the issuer's issued and outstanding shares on a non-diluted basis and approximately 27.47 per cent on a partially diluted basis, partially meaning the scenario that Mr. Wisbey exercises all his options but no one else exercises any.

The shares were acquired for investment purposes. Mr. Wisbey may, in the future, acquire or dispose of securities of the issuer, through the market, privately or otherwise, as circumstances or market conditions warrant.

Mr. Wisbey is a control person of the issuer pursuant to the policies of the TSX-V. The shareholders of the issuer approved the creation of Mr. Wisbey as a control person of the issuer at the annual general and special meeting held on Dec. 10, 2018.

For further information, please refer to the early warning report, a copy of which is available under the company's profile on the company's website or on SEDAR+, or contact Mr. Wisbey by e-mail at johnwisbey@ilccm.com.