DGAP-News

International Lithium Corp. Options Mavis Lithium Project and Forms Strategic Alliance with Australian Company, Pioneer Resources Limited

DGAP-News: International Lithium Corp. / Key word(s): Miscellaneous
International Lithium Corp. Options Mavis Lithium Project and Forms
Strategic Alliance with Australian Company, Pioneer Resources Limited

14.03.2016 / 13:50
The issuer is solely responsible for the content of this announcement.

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Vancouver, British Columbia--(Newsfile Corp. - March 14, 2016) -
International Lithium Corp. (the 'Company' or 'ILC') (TSX Venture: ILC.V)
is pleased to announce it has entered into an Option Agreement and
Strategic Alliance with Australian Stock Exchange-listed Pioneer Resources
Limited ('Pioneer') (ASX:PIO). Under the terms of the Agreement Pioneer can
earn up to an 80% interest in ILC's 100% owned Mavis Lake property, which
includes the Fairservice patented mining leases (the 'Mavis Lithium
Project'), located near Dryden, Ontario, Canada.

Benefits to the Strategic Alliance

This agreement enables the new alliance to test multiple undrilled
pegmatite targets within the project area. It also allows for further
acquisitions that builds the alliance's ability to engage emerging lithium
market opportunities.

The Option Agreement, which is subject to a three month exclusivity and due
diligence period, provides Pioneer with:

- Immediate, direct exposure to the lithium sector through equity in the
advancing Mavis Lithium Project, which have known lithium bearing
pegmatites;
- The ability to increase the project portfolio through further
acquisitions and staking opportunities;
- An offtake strategy through ILC.

Under the terms of the Agreement, Pioneer will manage the exploration
program on the Mavis Lithium Project utilizing ILC's technical team, who
are currently advancing the Avalonia lithium pegmatite project in Ireland
and the Mariana lithium brine project in Argentina.

The Agreement provides ILC with the first stage of their North American
strategy to join with Strategic Partners and to advance lithium
opportunities with them that have no infrastructure constraints,
consequently making potential mining projects less capital intensive.

Pioneer brings a management team of individuals having over 30 years of
corporate and technical experience in mineral exploration, finance, a good
track record of discoveries and mine development.

Mr. Gary Schellenberg, CEO, International Lithium Corp. stated, 'This is
the first step of our new strategy developed for North America. We see an
escalating demand for lithium in North America, especially in the
automotive sector with new sources being either many years away, or with
logistic and metallurgical challenges. Our strategy for the Upper Canada