International Lithium Corp. announced assay results for Phase 1 of the diamond drilling program at the Raleigh Lake Lithium project near Ignace, Ontario, Canada. Further to Company news releases dated February 9, March 21, and May 17, 2022; ILC is conducting a minimum of 5,000 metres core drilling at the Raleigh Lake project in two phases.

Phase 1 ran during the winter months of March and April 2022 where ten (10) holes were drilled for a total of 2,053 metres. Eight holes targeted Pegmatite 1 in Zone 1 and two holes targeted Pegmatite 2 in Zone 2. All drill holes in Zone 1 encountered spodumene bearing pegmatites. Phase 1 Drilling: All eight holes from the 2021 maiden drilling campaign were cored in Zone 1 and tested the up-dip and eastern extent of Pegmatites 1 and 3. Zone 1 is a stacked set of shallow dipping pegmatite dykes that make up the main target of the Raleigh Lake project.

Eight holes from Phase 1 were cored into Zone 1 and all eight intersected spodumene-bearing pegmatites with holes DDH22-09 and DDH22-10 intersecting 8.5 metres and 13 metres true thicknesses of spodumene-bearing pegmatite respectively; at an approximated vertical depth of less than 100 metres. Zone 1 pegmatites have been defined by drilling and surface exposures in an area exceeding 600 metres x 400 metres for Pegmatite 1. The Phase 1 drill holes were drilled interstitially to historic drill holes at step outs of 50 metres or more (if possible) to provide quantifiable data that can be used in a maiden resource calculation. The first holes to be drilled at Zone 2 were targeting the down dip extension of Pegmatite 2, a small surface exposure of spodumene bearing pegmatite approximately 750 metres northwest of Pegmatite 1 with a similar structural orientation.

Drilling locations were limited by topography resulting in a large step-out relative to the Pegmatite 2 outcrop. Encouragingly both holes DDH 22-17 and DDH 22-18, separated by a strike length of approximately 125 metres, intersected multiple metre and sub-metre scale pegmatite veins including a one metre scale vein (interpreted to be Pegmatite 2) containing moderate, patchy spodumene. Phase 2 Drilling: As reported on May 17, 2022 The focus for Phase 2 was to test numerous lithogeochemical anomalies and alteration corridors identified in Zones 2, 3, 5 and 6 while continuing to test the extents of Pegmatite 1 and 3 in Zone 1. The Company is experiencing longer than anticipated wait times for the drilling permit to test targets defined in Zones 3, 5, and 6. As a result, drilling has remained within Zone 1 and 2. At writing, the program has surpassed its targeted 5000 metres of drilling and will likely pause drilling for a few weeks while the permit process runs its course.

The Company has re-prioritized drilling in the Zone 1 area where the high grade-spodumene and rubidium core can be traced closer to surface between the large gaps in the historic drilling. This will provide a much clearer picture of the mineralized zones to be used in an upcoming maiden resource estimate scheduled for later in 2022.