"International Lithium has demonstrated very impressive exploration success this year, our team is extremely pleased with the advance of our projects to date, resultantly I would like to provide a more comprehensive update to our shareholders" - Kirill Klip, President of ILC.
• Extensive 78 meter Mineralized Pegmatite with Extensive Lithium and Tantalum Zonation at Mavis Lake - Fairservice Lithium and Rare Metals Project, Ontario, Canada
• High-Grade Lithium Boulder Field Discovery Significantly Extends Moylisha - Blackstairs Project, Ireland
• Discovered Extensive Sand Layers Hosting Lithium - Boron and Highest Potash Grades in an Argentine Salar, - Mariana Brine Project, Argentina
• Strengthened Strategic Partnership with Ganfeng Lithium"
May 4, 2012
VANCOUVER, British Columbia, May 4, 2012 (GlobeNewswire via COMTEX) -- internationallithium.com/s/NR_2012-05-04.asp
As a follow-up to our corporate update and commitment to our advancement, International Lithium ("ILC" the Company) is pleased to announce we are entering in a Market Making Contract with Venture Liquidity Providers Inc.
International Lithium Corp. has retained Venture Liquidity Providers Inc. ("VLP") to initiate its Market Making Service to provide assistance in maintaining an orderly trading market for the Company's common shares. The Market Making Service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Limited, in compliance with the guidelines of the TSX Venture Exchange. VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX Venture Exchange-listed issuers. In consideration for their services, ILC has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement may be terminated at any time by ILC or VLP. ILC and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in ILC or its securities. The agreement is subject to regulatory approval.
ABOUT INTERNATIONAL LITHIUM CORP
International Lithium Corp. is an exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner and keystone investor Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.
ILC currently has 9 active rare metals projects, well balanced between lithium-potash brines in Argentina, Nevada and hard-rock pegmatites in Canada and Ireland. The Company's primary focus is the Mariana lithium-potash brine project, a salar or 'salt lake', covering an expansive 160 square kilometres and strategically encompassing the entire basin. Mariana is located in the renowned South American 'Lithium Belt' centred on the junction of Argentina, Bolivia and Chile that is host to the vast majority of global lithium resources, reserves and production. The Mariana lithium-potash brine project ranks as one of the more prospective salars in the region.
Complementing the Company's lithium brine projects are the rare metals pegmatite properties. The key characteristics shared by the hard-rock rare metals projects are their limited past exploration, excellent accessibility and limited assaying for rare metals. All of which imply a clear potential for additional exploration and development as well as added project value to meet the global technological growth in demand for the rare metals suite of elements.
International Lithium Corp.'s mandate is to increase shareholder value through aggressive advancement of its core projects and to source joint venture partners to expand the scope and diversify risk of its exploration effort.
On behalf of the Board of Directors,
President International Lithium Corp.
Neither the 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. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Contact: 620 - 650 West Georgia Street Vancouver, British Columbia V6B 4N9, Canada Voice: (604) 687-7551 Fax: (604) 687-4670 1-800-667-4470 E-mail: email@example.com
Stock Symbol: ILC:TSXV Shares CUSIP: #459820 10 6 Warrants Symbol: ILC.WT Warrant CUSIP: #459820 11
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This news release was distributed by GlobeNewswire, globenewswire.com
SOURCE: International Lithium Corp
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