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The Record, “NI 43-101 TECHNICAL REPORT AND MINERAL RESOURCE ESTIMATE FOR THE RALEIGH LAKE LITHIUM PROJECT, IGNACE, ONTARIO” is to be had on SEDAR.

The result of the technical record point out that the Undertaking has technical advantage in keeping with result of the MRE. The Corporate plans on progressing its drill methods to construct off effects from its not too long ago finished drill methods with objectives to additional delineate financial assets downdip and alongside strike of the present MRE and improve inferred assets to indicated. As well as, the Corporate seeks to additional outline the worth that may be learned from the rubidium useful resource via marketplace research.

Government Remark

John Wisbey, Chairman and CEO of ILC commented: “We’re proud of this maiden useful resource estimate, coming because it does after lower than 14,000 metres of drilling and on best 600 hectares of our 48,500 hectares at Raleigh Lake. We also are more than happy that we’ve got been in a position to claim a separate useful resource estimate for rubidium in addition to lithium. That is vital as a result of rubidium is (like lithium) at the U.S. vital minerals listing, and additionally has a marketplace worth in keeping with kg as at as of late of round 50x that of lithium. The rubidium marketplace, like that for caesium, is a slightly opaque one. We and our experts might be doing a find out about over the following couple of months of the actual marketplace possible of rubidium merchandise.”

Anthony Kovacs, COO of ILC commented: “With the maiden MRE in hand we will be able to start to examine the viability of an financial mining state of affairs at Raleigh Lake. The best price addition we’ve prior to our eyes is the superb infrastructure these days to be had, and servicing the venture space. The fee to copy this infrastructure in additional far flung spaces can be unfathomable making an allowance for that the Trans-Canada Freeway runs adjoining to the venture as do the trans-continental CP Rail tracks, electric energy traces and herbal gasoline pipelines. The Township of Ignace these days serves as a base camp for our operations and should even be integrated as a internet receive advantages to the venture’s viability.

The present MRE was once accomplished with lower than 14,000 metres drilling. There may be possible to construct the useful resource down-dip and alongside strike. Long term exploration methods will examine the potential of useful resource enlargement within the instant neighborhood of the MRE and all through the greater than 48,000 hectares of mineral claims making up the Raleigh Lake venture. We can additionally start the initial financial tests. If a small-scale mining operation will also be justified, then increasing the useful resource as soon as manufacturing is underway can be much less capital extensive and would additionally supply earnings for better scale traits inside the Raleigh Lake declare staff and different initiatives.”

The next highlights taken from the Record, and set out under, will have to be regarded as within the context of the detailed data given there.

Lithium MRE Abstract

The Lithium MRE for Lithium-Caesium-Tantalum (“LCT”) pegmatites of the Raleigh Lake pegmatite box is gifted in Desk 1 under.

The MRE is evolved with information from diamond drill holes totaling 13,821 m.

The pit constrained mineral assets have been outlined the use of a parented block style, inside an optimized pit shell with moderate pit slope angles of 45° in rock and 30° in overburden, a 9.8 strip ratio (waste subject matter: mineralized subject matter) and a earnings issue of one.0. The pit optimization shells have been created the use of Deswik.AdvOPM instrument.

The lithium useful resource pit optimization parameters (Desk 2) come with: 5.5% Li2O spodumene listen; US$1,800 Li2O spodumene listen worth; change charge of C$1.3/US$1; listen transportation and offsite fees of C$175/t, mining price of C$6/t, processing plus basic and management price of C$41/t; and a procedure restoration of 75%. Most effective lithium price was once used to generate the useful resource optimized pit shell.

Underground constrained mineral assets have been outlined inside 5 x 5 x 5 m mineable form optimization wireframes. The mineable form optimization constraining wireframes have been created the use of Deswik.SO instrument.

The lithium useful resource underground mineable form optimization parameters (Desk 3) come with: 5.5% Li2O spodumene listen; US$1,800 Li2O spodumene listen worth; change charge of C$1.3/US$1; listen transportation and offsite fees of C$175/t, mining price of C$80/t, processing plus basic and management price of C$50/t; and a procedure restoration of 75%.

A default density of two.668 g/cm3 was once used for the mineralized zones.

Desk 1: Lithium Open Pit and Underground MRE

 

Seek advice from notes on Mineral Assets under.

Determine 1: Lithium MRE isometric segment view searching southwest with lithium grades.

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Desk 2: Parameters used to generate the pit shell for the lithium open pit useful resource.

 

Desk 3: Underground restrict research parameters (lithium useful resource)

 

Rubidium MRE Abstract

The Rubidium MRE is gifted in Desk 4 under. An impartial MRE has been calculated for the rubidium contained inside microcline zones of the LCT pegmatites. Rubidium additionally happens all through the LCT pegmatites inside the lithium-bearing spodumene at a decrease cutoff however isn’t integrated on this rubidium MRE. Rubidium reaches grades more than 4,000 ppm are attributed to wallet of top modal abundance of microcline (potassic feldspar). Rubidium has thus been constrained to the next cutoff to split it from the lithium useful resource, permitting rubidium and lithium to be mined and offered one at a time.

The rubidium open pit and underground useful resource estimate was once constrained above marketplace price because of the present restricted global marketplace. This 4,000 ppm rubidium cut-off grade was once decided on for each open pit and underground as proven in Desk 4. The open pit rubidium useful resource was once constrained the use of the lithium price optimized open pit shell (RF 1.00). The rubidium useful resource was once excluded from (neither taken under consideration nor used as a credit score for) the underground and open pit lithium useful resource.

For reference the marketplace worth of rubidium carbonate (Rb2CO3≥99%) in February 2023 is roughly USD 1,160 in keeping with kg.

Desk 4: Rubidium Open Pit and Underground MRE

 

Seek advice from notes on Mineral Assets under.

Determine 2: Rubidium MRE isometric segment view searching southwest with rubidium grades.

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Determine 3: LCT pegmatites inside the Raleigh Lake pegmatite box searching west-northwest.

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ILC has retained Nordmin Engineering Ltd. (“Nordmin”), based totally in Thunder Bay, Ontario, to organize an impartial lithium (spodumene-hosted) and rubidium (microcline-hosted) MRE for the Undertaking and to organize a Technical Record (the “Record”) in keeping with the factors and pointers set out by way of the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) and in keeping with Nationwide Tool 43-101 – Requirements of Disclosure for Mineral Initiatives.

In preparation of the MRE and Record, Nordmin carried out processes that have been suitable for lithium pegmatite-style deposits. The Record is to be had on SEDAR. The efficient date for the Record is April 13, 2023.

Notes on Mineral Assets

1. The MRE was once ready by way of Christian Ballard, P.Geo., of Nordmin, who’s the Certified Particular person (“QP”) as outlined by way of NI 43-101 and is impartial of ILC.
2. Mineral Assets, which aren’t Mineral Reserves, don’t have demonstrated financial viability. The above Inferred Mineral Assets are topic to possible improve to Indicated and Measured Mineral Assets with persisted drilling. There is not any ensure that any a part of the Mineral Assets mentioned herein might be transformed to some other class or to a Mineral Reserve one day. The estimate of Mineral Assets is also materially suffering from environmental, allowing, criminal, advertising, or different related problems.
3. The Mineral Assets on this record have been estimated the use of the Canadian Institute of Mining, Metallurgy and Petroleum requirements on Mineral Assets and reserves, definitions, and pointers ready by way of the CIM status committee on reserve definitions and followed by way of the CIM council (CIM 2014 and 2019).
4. The MRE is evolved with information from diamond drill holes totaling 13,821 m.
5. The pit constrained mineral assets have been outlined the use of a parented block style, inside an optimized pit shell with moderate pit slope angles of 45° in rock and 30° in overburden, a 9.8 strip ratio (waste subject matter: mineralized subject matter) and a earnings issue of one.0. The pit optimization shells have been created the use of Deswik.AdvOPM instrument.
6. The lithium useful resource pit optimization parameters come with: 5.5% Li₂O spodumene listen; US$1,800 Li₂O spodumene listen worth; change charge of C$1.3/US$1; listen transportation and offsite fees of C$175/t, mining price of C$6/t, processing plus basic and management price of C$41/t; and a procedure restoration of 75%. Most effective lithium price was once used to generate the useful resource optimized pit shell.
7. Underground constrained mineral assets have been outlined inside 5 x 5 x 5 m mineable form optimization wireframes. The mineable form optimization constraining wireframes have been created the use of Deswik.SO instrument.
8. The lithium useful resource underground mineable form optimization parameters come with: 5.5% Li₂O spodumene listen; US$1,800 Li₂O spodumene listen worth; change charge of C$1.3/US$1; listen transportation and offsite fees of C$175/t, mining price of C$80/t, processing plus basic and management price of C$50/t; and a procedure restoration of 75%.
9. The rubidium useful resource was once constrained above marketplace price because of the present restricted global marketplace. A 4,000 ppm rubidium cut-off grade was once decided on. The rubidium useful resource was once excluded from (i.e. neither taken under consideration nor used as a credit score for) the underground and open pit lithium useful resource.
10. A default density of two.668 g/cm3 was once used for the mineralized zones.
11. All figures are rounded to replicate the relative accuracy of the estimates; totals would possibly not upload appropriately.
12. The efficient date of the MRE is February 16, 2023 and a technical record at the Undertaking might be filed by way of the Corporate on SEDAR inside 45 days of the date of this Information Unencumber.

Infrastructure and Possession Benefits of the Raleigh Lake Undertaking (Determine 4)

The Undertaking:

• Is 100% owned by way of ILC and isn’t topic to any off-take agreements, partnerships, or royalties.
• Is composed of 48,500 hectares (485 sq. kilometres) of adjacent mineral claims.
• Is situated roughly 25 kilometers west of the Township of Ignace, Ontario.
• Distinguishes itself from different lithium initiatives in Canada by way of being really well positioned just about main public infrastructure, together with:
  • The Trans-Canada Freeway, with direct get admission to to Thunder Bay on Lake Awesome, is lower than six kilometers north of the Undertaking;
  • The Canadian Pacific Railway, herbal gasoline pipelines, and Hydro One energy transmission traces (115 and 230 kV) are only a few kilometres from the Undertaking.

Determine 4: Main public infrastructure relative to the Undertaking.

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Certified Particular person

Mr. Christian Ballard, P.Geo., of Nordmin, is the QP for this unlock and for the MRE it discloses, as outlined by way of NI 43-101, and has reviewed and licensed the technical data on this unlock.

About World Lithium Corp.

World Lithium Corp. believes that the sector faces an important turning level within the power marketplace’s dependence on oil and gasoline and within the governmental and public view of local weather exchange. As well as, we’ve noticed the transparent and an increasing number of pressing want by way of america and Canada to safeguard their provides of vital battery metals and to develop into extra self-sufficient. Our Canadian initiatives are strategic in that recognize.

Our key challenge within the subsequent decade is to earn a living for our shareholders from lithium and uncommon metals whilst on the similar time serving to to create a greener, cleaner planet and no more polluted towns. This comprises optimizing the worth of our current initiatives in Canada and Eire in addition to discovering, exploring and creating initiatives that experience the prospective to develop into global elegance lithium and uncommon steel deposits. Now we have introduced one at a time that we regard Zimbabwe as crucial strategic audience for ILC, and we are hoping so as to make bulletins over the following couple of weeks and months.

A key purpose has been to develop into a well-funded corporate to show our aspirations into fact, and following the disposal of the Mariana venture in Argentina in 2021 and the Mavis Lake venture in Canada in January 2022, the Board of the Corporate considers that ILC is now properly positioned in that recognize with a powerful internet money place.

The Corporate’s pursuits in quite a lot of initiatives now is composed of the next, and as well as the Corporate continues to hunt different alternatives:

 

The Corporate’s number one strategic center of attention at this level is at the Raleigh Lake Lithium and Rubidium Undertaking in Canada and on figuring out further houses in Canada and Zimbabwe.

The Raleigh Lake Undertaking is composed of 48,500 hectares (485 sq. kilometres) of mineral claims in Ontario and is ILC’s most important venture in Canada. Drilling has to this point been on lower than 1,000 hectares of our claims. The exploration effects there to this point, that are on best about 8% of ILC’s present claims, have proven vital amounts of rubidium within the pegmatite in addition to lithium. Raleigh Lake is 100% owned by way of ILC, isn’t topic to any encumbrances, and is royalty unfastened.

With the expanding call for for top tech rechargeable batteries utilized in electrical cars and electric garage in addition to transportable electronics, lithium has been designated “the brand new oil”, and is a key a part of a inexperienced power sustainable economic system. Via positioning itself with initiatives with vital useful resource possible and with forged strategic companions, ILC goals to be one of the most lithium and uncommon metals useful resource builders of selection for traders and to proceed to construct price for its shareholders within the ’20s, the last decade of battery metals.

On behalf of the Corporate,

John Wisbey
Chairman and CEO

www.internationallithium.ca

For additional data relating to this information unlock please touch +1 604-449-6520

Neither TSX Undertaking Change nor its Legislation Services and products Supplier (as that time period is outlined within the insurance policies of the TSX Undertaking Change) accepts accountability for the adequacy or accuracy of this unlock.

Cautionary Commentary Relating to Ahead-Having a look Data

With the exception of for statements of historic reality, this information unlock or different releases comprise sure “forward-looking data” inside the that means of acceptable securities legislation. Ahead-looking data or forward-looking statements on this or different information releases would possibly come with: the impact of result of expected manufacturing charges, the timing and/or expected result of drilling at the Raleigh Lake or Wolf Ridge or Avalonia initiatives, the expectancy of useful resource estimates, initial financial tests, feasibility research, lithium or rubidium or caesium recoveries, modeling of capital and working prices, result of research using quite a lot of applied sciences on the corporate’s initiatives, budgeted expenditures and deliberate exploration paintings at the Corporate’s initiatives, higher price of shareholder investments, and assumptions about moral behaviour by way of our three way partnership companions or 3rd birthday party operators of initiatives. Such forward-looking data is in keeping with assumptions and topic to numerous dangers and uncertainties, together with however no longer restricted to these mentioned within the sections entitled “Dangers” and “Ahead-Having a look Statements” in the intervening time and annual Control’s Dialogue and Research that are to be had at www.sedar.com. Whilst control believes that the assumptions made are affordable, there will also be no assurance that forward-looking statements will turn out to be correct. Must a number of of the dangers, uncertainties or different components materialize, or will have to underlying assumptions turn out flawed, precise effects would possibly range materially from the ones described in forward-looking data. Ahead-looking data herein, and all next written and oral forward-looking data are in keeping with expectancies, estimates and critiques of control at the dates they’re made that, whilst regarded as affordable by way of the Corporate as of the time of such statements, are topic to vital industry, financial, legislative, and aggressive uncertainties and contingencies. Those estimates and assumptions would possibly turn out to be flawed and are expressly certified of their entirety by way of this cautionary remark. With the exception of as required by way of legislation, the Corporate assumes no legal responsibility to replace forward-looking data will have to instances or control’s estimates or critiques exchange.

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