Sale Completion of Non-Core Irish Assets for CAD$ 2.5 million
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the 'Company' or 'ILC') is pleased to announce that it has completed the sale of all its interest in the Avalonia Project in Ireland and in Blackstairs Lithium Ltd, the company that owns that project.
As announced on September 17, 2024, the Company's interest in the Avalonia Project was sold then to GFL International Co., Limited ('GFL'), a subsidiary of Ganfeng Lithium Group Co., Ltd. ('Ganfeng'), for a consideration of CAD$ 2.2 million plus a 2% Net Smelter Royalty. The Company reports that it has now sold its shareholding in Blackstairs Lithium to GFL for an additional CAD$ 0.3 million. The final CAD$ 1.0 million of the consideration for the CAD$ 2.2 million Avalonia Project is payable by GFL in October 2025.
John Wisbey, Chairman and CEO of ILC, commented:
'We are pleased to have completed the sale of our interest in the Avalonia Project to GFL who was our partner in Ireland. This divestment allows us to focus on our wholly owned or majority-owned projects in Canada and on progressing identified opportunities in Southern Africa. We have a strong 11-year relationship with Ganfeng, and we will welcome working with Ganfeng again on future projects when there is a mutual interest in doing so.'
About International Lithium Corp.
International Lithium Corp. has exploration activities in Ontario, Canada, with intentions to expand into Southern Africa. It has projects at various stages, ranging from Preliminary Economic Assessment at Raleigh Lake to Pre-Drilling at Wolf Ridge. The primary target metals in Canada are lithium, rubidium and copper. There are three projects (two in Ontario and now one in Ireland) in which ILC has sold its share but where we stand to receive future payments from either a resource milestone being achieved or from a Net Smelter Royalty.
While the world's politicians are currently divided on the future of the energy market's historic dependence on oil and gas and on 'Net Zero', there seems to be a clear and unstoppable momentum towards electric vehicles, solar power and electric battery storage, all of which contribute to rising demand for lithium. Rubidium is increasingly seen as a valuable critical metal that is strategic for high-precision clocks and for space technology. Copper has many historical uses, but demand is projected to be sharply higher as more data centres are required for AI. We have seen the clear and increasingly urgent wish by the USA, Canada, and other major economies to safeguard their supplies of critical metals and to become more self-sufficient. Our Canadian projects, which contain lithium, rubidium and copper, are strategic in that respect.
Our key mission for the next decade is to generate revenue for our shareholders from lithium and other battery metals, as well as rare metals, while also contributing to the creation of a greener, cleaner planet and less polluted cities.
This includes optimizing the value of our existing projects in Canada as well as finding, exploring and developing projects that have the potential to become world-class deposits. We have separately announced that we regard Southern Africa as a key strategic target market for ILC and that we have applied for and hope to receive EPOs in Zimbabwe. We hope to make further announcements on the portfolio developments over the next few weeks and months.
The Company's interests in various projects now consist of the following, and in addition, the Company continues to seek other opportunities:
The Company's primary strategic focus at this point is on the Raleigh Lake Project, comprising lithium and rubidium, and the Firesteel copper project in Canada, as well as obtaining EPOs and mineral claims in Zimbabwe.
The Raleigh Lake Project now encompasses 32,900 hectares (329 square kilometres) of mineral claims in Ontario and represents ILC's most significant project in Canada. To date, drilling has occurred on less than 1,000 hectares of our claims. A Preliminary Economic Assessment was published for ILC's lithium at Raleigh Lake in December 2023, with a detailed economic analysis of ILC's separate rubidium resource still pending. Raleigh Lake is 100% owned by ILC, free from any encumbrances and royalties. The Raleigh Lake Project boasts excellent access to roads, rail, and utilities.
A continuing goal has been to remain a well-funded company to turn our aspirations into reality. Following the disposal of the Mariana project in Argentina in 2021, the Mavis Lake project in Canada in 2022, and now the Avalonia project, ILC continues to achieve sufficient inward cash flow to be able to make progress with its exploration projects.
With the increasing demand for high-tech rechargeable batteries used in electric vehicles, electrical storage, and portable electronics, lithium has been designated 'the new oil' and is a key part of a green energy, sustainable economy. By positioning itself with projects that have significant resource potential and solid strategic partners, ILC aims to be one of the preferred lithium and rare metals resource developers for investors and to continue building value for its shareholders for the rest of the 2020s, the decade of battery metals.
On behalf of the Company,
John Wisbey
Chairman and CEO
www.internationallithium.ca
For further information concerning this news release, please contact +1 604-449-6520 or [email protected] or [email protected].
Neither 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.
Cautionary Statement Regarding Forward-Looking InformationTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/257488
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To view an enhanced version of this graphic, please visit: This announcement has been approved for release by the Board of Benz Mining Corp. For more information please contact:Mark Lynch-StauntonChief Executive OfficerBenz Mining Corp.E: mstaunton@ +61 8 6143 6702 About Benz Mining Corp. Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) is a pure-play gold exploration company dual-listed on the TSX Venture Exchange and Australian Securities Exchange. The Company owns the Eastmain Gold Project in Quebec, and the recently acquired Glenburgh and Mt Egerton Gold Projects in Western Australia. Benz's key point of difference lies in its team's deep geological expertise and the use of advanced geological techniques, particularly in high-metamorphic terrane exploration. The Company aims to rapidly grow its global resource base and solidify its position as a leading gold explorer across two of the world's most prolific gold regions. 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To view an enhanced version of this graphic, please visit: For more information, please visit: Qualified Person's Statement (NI 43-101) The disclosure of scientific or technical information in this news release is based on, and fairly represents, information compiled by Mr Mark Lynch-Staunton, who is a Qualified Person as defined by NI 43-101 and a Member of Australian Institute of Geoscientists (AIG) (Membership ID: 6918). Mr Lynch-Staunton has reviewed and approved the technical information in this news release. Mr Lynch-Staunton owns securities in Benz Mining Corp. Historical Mineral Resource Estimates All mineral resource estimates in respect of the Glenburgh Gold Project in this news release are considered to be "historical estimates" as defined under NI 43-101. These historical estimates are not considered to be current and are not being treated as such. These estimates have been prepared in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC Code) and have not been reported in accordance with NI 43-101. A qualified person (as defined in NI 43-101) (Qualified Person) has not done sufficient work to classify the historical estimates as current mineral resources. A Qualified Person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical data in order to verify the historical estimates as current mineral resources. Forward-Looking Statements Statements contained in this news release that are not historical facts are "forward-looking information" or "forward looking statements" (collectively Forward-Looking Information) as such term is used in applicable Canadian securities laws. Forward-Looking Information includes, but is not limited to, disclosure regarding the exploration potential of the Glenburgh Gold Project and the anticipated benefits thereof, planned exploration and related activities on the Glenburgh Gold Project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipates", "complete", "become", "expects", "next steps", "commitments" and "potential", in relation to certain actions, events or results "could", "may", "will", "would", be achieved. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the accuracy and reliability of the Company's exploration thesis in respect of additional drilling at the Glenburgh Gold Project will be consistent with the Company's expectations based on available information; the Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Company's Projects (including Glenburgh and Mt Egerton Gold Projects) can be achieved; and the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the early stage nature of the Company's exploration of the Glenburgh Gold Project, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at and Accordingly, readers should not place undue reliance on Forward-Looking Information. The Forward-looking information in this news release is based on plans, expectations, and estimates of management at the date the information is provided and the Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. 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 ACCURACY OR ADEQUACY OF THIS RELEASE. Appendix 1: Collar Table. Coordinates system: GDA94/MGA Zone 50 Hole number Easting Northing Elevation (m) End Depth (m) Dip Azimuth 25GLR_064 409586.94 7191507.83 293 366 58 158 25GLR_062 409603.42 7191477.59 293 420 63 161 25GLR_060 409621.68 7191475.74 292 216 63 161 25GLR_036 409701.46 7191553.84 293 402 60 170 25GLR_034 409498.66 7191542.61 292 530 61 164 25GLR_032 409580.42 7191568.88 292 432 59 163 Appendix 2: Significant Intercepts Tables. Higher Grade Intercepts: A nominal 0.9g/t Au lower cut off has been applied to results, with no maximum internal dilution included unless otherwise stated. Hole ID From (m) To (m) Length (m) Au (ppm) 25GLR_064 108 146 38 1.1 25GLR_064 178 185 7 1.7 25GLR_064 203 210 7 1.5 25GLR_062 84 88 4 1.4 25GLR_062 94 210 116 1.3 25GLR_060 69 71 2 2.0 25GLR_060 85 99 14 1.2 25GLR_060 135 179 44 2.2 25GLR_036 164 166 2 1.2 25GLR_036 202 204 2 1.2 25GLR_036 208 227 19 0.9 25GLR_036 352 395 43 0.9 25GLR_034 7 11 4 2.5 25GLR_034 175 179 4 2.0 25GLR_034 231 270 39 1.3 25GLR_034 309 311 2 1.3 25GLR_034 315 317 2 1.4 25GLR_034 494 504 10 2.8 25GLR_033 426 512 86 1.1 25GLR_032 175 216 41 1.6 25GLR_032 282 285 3 2.0 25GLR_032 341 343 2 1.3 Bulk potential intercepts reported with a nominal 0.3g/t Au lower cut off with no maximum internal dilution length applied. Hold ID From (m) To (m) Length (m) Au (ppm) Comment 25GLR_064 107 224 117 0.7 Ending in mineralisation 25GLR_062 76 230 154 1.1 Ending in mineralisation 25GLR_060 66 200 134 1.0 Ending in mineralisation 25GLR_036 163 166 3 1.0 Ending in mineralisation 25GLR_036 194 400 206 0.5 Ending in mineralisation 25GLR_034 4 37 33 0.4 Ending in mineralisation 25GLR_034 149 179 30 0.3 Ending in mineralisation 25GLR_034 222 528 306 0.4 Ending in mineralisation 25GLR_032 157 429 272 0.5 Ending in mineralisation Appendix 3: JORC TablesJORC Code, 2012 Edition - Table 1 report template Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria Commentary Sampling techniques Results are part of BNZ's RC drilling campaign at the recently acquired Glenburgh Gold Project situated ~285 km east of Carnarvon via Gascoyne Junction, WA. RC drilling samples were collected as 1m single samples. Each sample collected represents each one (1) metre drilled collected from the rig-mounted cone splitter into individual calico bags (~3kg) and stored in labelled sequential polyweave bags for long-term storage. The rig mounted cyclone/cone splitter was levelled at the start of each hole to aid an even fall of the sample through the cyclone into the cone splitter. RC drilling sample submissions include the use of certified standards (CRMs), and field duplicates were added to the submitted sample sequence to test laboratory equipment calibrations. Standards selected are matched to the analytical method of photon assaying at ALS labs in Perth (~500g units). No composites were taken. Based on statistical analysis of these results, there is no evidence to suggest the samples are not representative. Drilling techniques The RC drill rig was a Schramm C685 Rig type with the capability to reach >400m depths with a rig-mounted cyclone/cone splitter using a face sample hammer bit of 5 1⁄2 - 6" size. The booster was used to apply air to keep drill holes dry and reach deeper depths. Drill sample recovery RC sample recovery is visually assessed and recorded where significantly reduced. Negligible sample loss has been recorded. RC samples were visually checked for recovery, moisture and contamination. A cyclone and cone splitter were used to provide a uniform sample, and these were routinely cleaned. RC Sample recoveries are generally high. No significant sample loss has been recorded. Logging RC chip samples have been geologically logged on a per 1 metre process recording lithology, mineralisation, veining, alteration, and weathering. Geological logging is considered appropriate for this style of deposit (metamorphosed orogenic gold). The entire length of all holes has been geologically logged. RC drill logging was completed by Galt Mining Solutions staff and data entered into BNZ's MXDeposit digital data collection platform provided by Expedio. All drill chips were collected into 20 compartment-trays for future reference and stored at Galt's warehouse in West Leederville at the time of reporting. Sub-sampling techniques and sample preparation RC chips were cone split at the rig. Samples were generally dry. A sample size of between 3 and 5 kg was collected. This size is considered appropriate, and representative of the material being sampled given the width and continuity of the intersections, and the grain size of the material being collected. For the 1 metre samples, certified analytical standards (appropriate for photon assaying) and field duplicates were inserted at appropriate intervals at a rate equal to 1 in 20 and sent for analysis with the samples. Sample preparation was undertaken at ALS Laboratory - Perth. Gold analysis utilised the photon assaying methodology where original samples are crushed to 2mm with a sub-set 500g separated for non-destructive analysis. Any sample reporting as having elevated > 1µSv readings during the preparation for photon assaying at ALS labs were flagged and were submitted for fire assay (Au-AA26) methodology at ALS labs in Perth as a quantifying check against the Photon assays. Quality of assay data and laboratory tests Preliminary pXRF and Labspec ASD analysis was conducted by Galt Mining Solutions personnel utilising Geotek's Boxscan automated system. The scanning of sieved RC drilling fines sample material utilised an Olympus Vanta M Series portable XRF in Geochem mode (3 beam) and a 20-second read time for each beam (Instrument_Serial = 840951). The ASD data reader on Boxscan has a 3 nm VNIR, 6 nm SWIR spectral resolution of the LabSpec 4 Hi-Res analytical instrument (Electronics serial number: 28191). The pXRF and ASD are incorporated into Geotek's Boxscan machine to facilitate an automated data collection process. This includes periodic calibration and QAQC scans on Geotek-supplied pucks and colour strips. The QAQC scans are verified and checked on Boxscan's internal program datasheet against expected results to ensure the analysers are conforming to Boxscan's expected operating parameters. A review of the pXRF and ASD sample results provided an acceptable level of analysis and the data is appropriate for reporting the geochemistry results in the context of its use for screening areas for indications of elevations in concentrations with elements of interest. pXRF and ASD results should never be considered a proxy or substitute for laboratory analysis, which is required to determine robust and accurate potential for mineralisation and associated elements. The reporting of pXRF and ASD results should not be described as an "assay" result, as these are not of the same level of accuracy or precision as that obtained from a certified laboratory workflow. The use of "preliminary indicative field data" is a more appropriate term when referring to pXRF and ASD results. The pXRF data is exploratory in nature and is used predominantly as an internal workflow to assist in target prioritisation through an early phase of exploration investigation. No previous comparisons of pXRF and ASD data with laboratory data at the project have been undertaken to date. The analysis involved direct point counting on the raw surfaces of the supplied drill fines. The fines are transferred from geochem packets to purpose-made scanning pucks, with the analysis taken from the middle of these pucks. The sample material was dry and collected and analysed in ambient temperatures within the processing warehouse. Monitoring of workstation area and apparatus temperatures occur during the shift with cooling actions being implemented when required. This provides only semi-quantitative information and is reported as raw data without significant corrections, which is best interpreted as an abundant/present/absent classification for most elements. This information provides useful trend analyses at an exploration target scale. Verification of sampling and assaying Significant drill intersections are checked by the supervising personnel. The intersections are compared to recorded geology and neighbouring data and reviewed in Leapfrog and QGIS software. No twinned holes have been drilled to date by Benz Mining, but, planned holes have tested the interpreted mineralised trends, verifying the geometry of the mineralised targets. All logs were validated by the Project Geologist prior to being sent to the Database Administrator for import. No adjustments have been made to assay data apart from values below the detection limit which are assigned a value of half the detection limit (positive number). Location of data points Hole collar coordinates including RLs have been located by handheld GPS in the field during initial drill site preparation. Actual hole collars were collected by a DGPS system at the Glenburgh Gold Project. The grid system used for the location of all drill holes is GDA94_MGA _Zone 50s. Planned hole coordinates and final GPS coordinates are compared in QGIS and Leapfrog project files to ensure all targets have been tested as intended. The drill string path is monitored as drilling progresses using downhole Axis Champ Gyro tool and compared against the planned drill path, adjustment to the drilling technique is requested as required to ensure the intended path is followed. Readings were recorded at 30m intervals from surface to end of hole after Benz reviewed single shot verses EOH continuous surveying of the Axis Champ Gyro tool and noted >3 degrees variance in azimuth with hole depth. The single shots produce less variability and are used for hole trace reporting in the database. Historical drill hole surveys and methods will be reviewed in preparation for any updates to MRE in the future. Data spacing and distribution BNZ's Glenburgh RC drilling has been designed as a test on mineralisation extension at a planned spacing of 60m between pierce points on the projected mineralised feature. Holes were generally angled ~ -65 dip towards ~ 145 degrees GDA94_MGA _Zone 51 Grid orientation. Fifteen (15) holes were drilled into Zone 126 prospect on a rough grid pattern to obtain adequate spacing for testing mineralisation continuity and geological host features. The mineralised domains established for pre-BNZ MREs have sufficient continuity in both geology and grade to be considered appropriate for the Mineral Resource and Ore Reserve estimation procedures and classification applied under the 2012 JORC Code. Ongoing drilling will be sufficiently spaced for a reinterpretation based on BNZ's structural model. No sample compositing of material from drilling has been applied during this drilling campaign. Orientation of data in relation to geological structure Drilling has primarily been undertaken perpendicular to the interpreted mineralised structures as stated above. No orientation-based sampling bias has been identified - observed intercepts to date indicate the interpreted geology hosting mineralisation is robust. Sample security All samples were prepared in the field by Galt staff and delivered by contracted couriers from the field site to the ALS laboratory in Perth directly. Individual pre-numbered calco sample bags are placed in polywoven plastic bags (5 per bag) secured at the top with a cable tie. These bags are annotated with the company name and sample numbers, the bags are placed in larger bulker bags for transport to ALS labs in Perth, also labelled with corresponding company name, drill hole and sample identifiers. Sample pulps are stored in a dry, secure location at Galt's warehouse in West Leederville. Audits or reviews Data is validated by Benz staff and Expedio consultants as it is entered into MXDeposit. Errors are returned to field staff for validation. All drilled hole collars have been located with a DGPS. There have been no audits undertaken. Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria Commentary Mineral tenement and land tenure status Glenburgh Gold Project is a group of 10 tenements and 2 applications. The majority of known gold deposits are located on Mining Lease M09/148. The tenement is 100% owned by Benz Mining Limited. The tenements are in good standing and no known impediments exist. Exploration done by other parties Since Helix Resources in 1994 and subsequent work by Gascoyne Resources, about 159149 soil samples, 1349 vacuum holes and 2285 auger holes have been completed at Glenburgh. 9 diamond holes, 398 RC holes, 6 air-core holes and 462 RAB holes have been drilled in the Glenburgh area to identify the distribution and evaluate the potential of the deposit. Drilling to date has identified 10 high potential deposits in the Glenburgh area which are: Tuxedo, Icon, Apollo, Mustang, Shelby, Hurricane, Zone 102, Zone 126, NE3 and NE4 deposits. Geology Gold mineralisation at the Glenburgh deposit is hosted in Paleoproterozoic upper-amphibolite to granulite facies siliciclastic rocks of the Glenburgh Terrane, in the southern Gascoyne Province of Western Australia. Gold was first discovered at the Glenburgh deposit in 1994 by Helix Resources during follow-up drilling of soil geochemical anomalies. Mineralisation occurs in shears within quartz + feldspar + biotite ± garnet gneiss, which contains discontinuous blocks or lenses of amphibolite and occasional thin magnetite-bearing metamorphics, probably derived from chemical sediments. Higher-grade mineralisation appears to be directly related to silica flooding in the gneiss. This silica flooding may give rise to quartz 'veins' up to several metres thick, although scales of several centimetres to tens of centimetres are the norm. Neither the higher-grade silica lodes nor the more pervasive lower-grade mineralisation exhibits sharp or well-defined lithological contacts. Drill hole Information For this announcement, 6 Reverse Circulation (RC) drill holes are being reported. Collar details have been provided in Appendix 1. For earlier released results, see previous announcements by Gascoyne Resources and Spartan Resources. Data aggregation methods No material information has been excluded. Higher grade: A nominal 0.9 ppm Au lower cut off has been applied to the results, with no maximum internal dilution applied. Bulk potential reported with a nominal 0.3 ppm Au lower cut off with no maximum internal dilution length applied Higher grade Au intervals lying within broader zones of Au mineralisation are reported as included intervals. No top cuts have been applied to reported intercepts. No metal equivalent values have been used. All reported assays have been length weighted if appropriate. Relationship between mineralisation widths and intercept lengths Drilling is generally oriented perpendicular to the interpreted strike of mineralisation, and intercepts are reported as downhole lengths unless otherwise stated. To improve understanding of true widths, a subset of holes in this program were drilled from the opposite azimuth to previous drilling to test structural geometry, with initial results indicating that earlier intercepts are likely to approximate true width. Ongoing drilling and geological modelling are required to confirm the true orientation and extent of mineralised lenses. Diagrams Relevant diagrams are included in the report. Balanced reporting All meaningful data relating to the Exploration program has been included and reported to the market as assays are received. Other substantive exploration data See body of announcement. Further work Assays for the remainder of the programme will be reported once received and validated. Detailed field mapping has commenced to refine targets for the next round of drilling. Geophysical techniques are being investigated to reduce the search space of high-grade lenses away from defined resource areas and/or high-grade drill intercepts. 1 Indicated: 13.5Mt at 1.0g/t Au for 430.7koz; Inferred: 2.8Mt at 0.9g/t Au for 79.4koz. See Historical Mineral Resource Estimates, above2 Indicated: 1.3Mt at 9.0g/t Au for 384koz; Inferred: 3.8Mt at 5.1g/t Au for 621koz To view the source version of this press release, please visit Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
