International Lithium Corp. announced the National Instrument 43-101 - Standards of Disclosure for Mineral Projects technical report for the Preliminary Economic Assessment ("PEA") for a proposed lithium mining operation to produce spodumene concentrate at Raleigh Lake. Total production for LoM is 414,904 tonnes of 6% Li2O spodumene concentrate ("SC6").

The above Inferred Mineral Resources are subject to potential upgrade to Indicated and Measured Mineral Resources with continued drilling. The Canadian Pacific Railway, natural gas pipelines, and Hydro One power transmission lines (115 and 230 kV) are just a few kilometres from the Project. Mining Methods.

The primary mining production will be executed using hydraulic excavators, front shovels, and/or wheel loaders as appropriate to the terrain and depending on the major production equipment available for the project. Total pre-production capital costs will be CAD 111.9 million, which include capitalized operating costs incurred before the open pit mine moves into the production phase. Pre-production Capital Costs.

Cost Centre, Description, Cost (CAD$ million), Direct CAPEX Costs, 1000, Open Pit Mining, 18.2, 3000, Mineral Processing, 38.5, 4000, Power, Electrical and Instrumentation, 3.8, 5000, Site Infrastructure and Support Services, 11.5, 6000, Water Management Systems, 2.0, 7000, Tailings and Mine Waste Management Facilities, 1.8, Total Direct CAPEX Costs, 75.8, Owner and Indirect CAPEX Cost Summary, 8000, Reclamation and Closure, 10.0, 9000, Indirect and Owner Costs, 18.6, Total Indirect CAPEX Costs, 28.6, 9600, Contingency, 7.6, Total Pre-Production CAPEX Costs, 111.9. Total sustaining capital costs over the mine production phase will be CAD 17.5 million. Mineral costs over the mine production phase is CAD 17.5 million (Table 10). Product costs - Production Phase, Mining, CAD 3.55,/t, mined, Mining including Waste (Strip Ratio = 13.2:1), CAD 40.98,/t mill, Mining, CAD 28.53,/t mill, feed, G&A, CAD 17.74, /t mill, feed, Concentrate transportation, CAD 7.13, /t mill, feed., Total, CAD 94.38,/t mill, feed.

Overall Project Costs, Total Mining Cost, CAD 179, million, Total, CAD 94.38.13, /t mill the feed, Total, CAD 94.38, /t mill, Feed, Project Operating and Sustaining Capital Costs, Total operating costs, Total operating costs, CAD 94.38, /t mill.