Vancouver, British Columbia--(Newsfile Corp. - April 11, 2017) - International Lithium Corp. (TSXV: ILC) (the "Company"
or "ILC") is pleased to announce that it has closed the first tranche of its non-brokered private placement (the "Private
Placement") of convertible securities for proceeds of $100,000. The securities were issued pursuant to a convertible loan
bearing interest at the rate of 15% per annum, payable quarterly, with a maturity date of one year from the date of advance. The
lenders may convert at any time, all or a portion of the convertible loan principal into common shares of the Company at a price of
$0.14 per common share. The Company has the right to repay the convertible loan, at any time after three months from the date of
advance.
The proceeds of the private placement will be used for general working capital purposes. All private placement securities will
be restricted from trading for a period of four months and one day from closing. The convertible loan will be secured by a general
security agreement against the Company's assets.
Two insiders of the Company participated in the private placement and subscribed for a face value of $100,000 in convertible
securities. Participation by the two insiders constitutes a related party transaction as defined under Multilateral Instrument
61-101 - Protection of Minority Security Holders in Special Transactions. The Company did not file a material change report
21 days prior to the closing of the private placement as the details of the participation of insiders of the Company had not been
confirmed at that time.
About International Lithium Corp.
International Lithium Corp. has a significant portfolio of projects, strong management, robust financial support, and a
strategic partner and keystone investor, Ganfeng Lithium Co. Ltd., a leading China-based lithium product manufacturer.
The Company's primary focus is the strategic stake in the Mariana lithium-potash brine project located within the renowned South
American "Lithium Belt" that is the host to the vast majority of global lithium resources, reserves and production. The Mariana
project, strategically encompasses an entire mineral rich evaporite basin, totalling 160 square kilometres, that ranks as one of
the more prospective salars or 'salt lakes' in the region. Current ownership of the project is through a joint venture company,
Litio Minera Argentina S. A., a private company registered in Argentina, owned 80% by Ganfeng Lithium Co. Ltd. ("GFL"), and 20% by
ILC. In addition, ILC has an option to acquire 10% in the Mariana project through a back-in right.
Complementing the Company's lithium brine project are three rare metals pegmatite properties in Canada known as the Mavis,
Raleigh, and Forgan projects, and the Avalonia project in Ireland, which encompasses an extensive 50km-long pegmatite belt. The
Avalonia project is under option to strategic partner GFL, that currently owns 55% of the project. The Mavis and Raleigh projects
are under option to strategic partner Pioneer Resources Limited pursuant to which Pioneer can acquire up to a 51% interest in the
projects.
The Mavis, Raleigh and Forgan projects together form the basis of the Company's newly created Upper Canada Lithium Pool
designated to focus on acquiring numerous prospects with previously reported high concentrations of lithium in close proximity to
existing infrastructure.
With the increasing demand for high tech rechargeable batteries used in vehicle propulsion technologies and portable
electronics, lithium is paramount to tomorrow's "green-tech", sustainable economy. By positioning itself with solid strategic
partners and acquiring high quality assets for the Energy Revolution supply chain, ILC aims to be the partner of choice for
investors in green-tech and to continue to build value for its shareholders.
On behalf of the Board of Directors,
Kirill Klip
Executive Chairman
For further information concerning this news release please contact +1 604-700-8912
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "will", "could" and other similar words, or statements that certain events or
conditions "may" or "could" occur. Such forward-looking information is based on a number of assumptions and subject to a variety of
risks and uncertainties, including but not limited to those discussed in the sections entitled "Forward-Looking Statements" in the
interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While our management believes that the assumptions made are reasonable, should one or
more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may
vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written
and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly
qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update
forward-looking information should circumstances or management's estimates or opinions change.