ILC International Lithium Corp

VANCOUVER, British Columbia, Feb. 21, 2012 /CNW/ - International Lithium Corp. ("ILC" or the "Company") is pleased to announce the results from the Company's recent drill program on the lithium and rare metals pegmatite field spanning the Company's contiguous Mavis Lake and Fairservice claim blocks near Dryden Ontario. http://www.pitchengine.com/Brand/PreviewPitch?brandid=e9405d8c-816e-4c27-b7ee-c08bc7e5e88b&pitchid=99245f9f-c62d-433d-808f-82328adce9e1 Key Highlights: -- Recent discovery of 78m pegmatite intersection in hole MF11-12 reveals multi-rare metal mineralization; 1,924 ppm Rb2O over the entire 78 metres in conjunction with 1.86% Li2O over 26.25m and 1.22% Li2O over 28.45m; -- Additional 31 metre pegmatite intersected in hole MF11-12 returns 1,779 ppm Rb2O; -- Tantalum highlights include 165 ppm Ta2O5 over 23.0m and 182 ppm Ta2O5 over 10.8m; -- Tantalum and Rubidium are more widely distributed on the property than previously thought; and -- Caesium highlights include 2.15m averaging 571 ppm Cs2O. "The preliminary drill results revealed more extensive pegmatite intersections and more widely distributed multi-element rare metal mineralization than anticipated, highlighted by the discovery of a lithium, rubidium and tantalum enriched 78 meter interval situated outside of the area of past exploration," states Mike Sieb, President of the Company. "These new results provide strong evidence for a highly evolved and prospective pegmatite field on the Property." Recent Drill ProgramThe 20-hole, 1,753 metre drill program carried out on the Fairservice / Mavis Lake project in August-September 2011 revealed more extensive pegmatite intersections than anticipated, a previously unknown near-surface pegmatite and lithium grades on par with or exceeding historical lithium results (see news release dated January 10, 2012). Another objective of the program was to determine the distribution of rare metal mineralization within the pegmatites since their presence can improve the prospectivity of the property and form an important part of an economic assessment. The drilling revealed that several elements, including Be, Cs, Rb, Sn and Ta, exhibit systematic zonation in and around the pegmatites on the Mavis-Fairservice property. The presence of significant quantities of these elements contributes to the advancement of exploration on the Property, both as potential commodities and by providing geochemical zonation in and adjacent to targeted lithium mineralization. Two wide pegmatite intervals (30.7 and 78.0 metres in hole MF11-12) exhibit distinctive geochemical characteristics typical of highly evolved pegmatites. Highly evolved pegmatites, similar to those found at multi-commodity pegmatite mines in Canada and Australia, are the Company's primary exploration target. The upper 30.7 meter pegmatite interval is enriched in tantalum and rubidium while the lower 78.0 metre pegmatite interval has significant lithium mineralization including 1.86% Li2O over 26.25m and 1.22% Li2O over 28.45 and the entire 78.0 metres grades 1,924 ppm Rb2O including 23.3m grading 2,853 ppm Rb2O. Hole MF11-11 returned 4.10m averaging 3,030 g/t Rb2O. Rubidium (Rb) and Tantalum (Ta) highlights are reported separately in the following tables. When lithium, tantalum, rubidium or caesium are anomalous for all or part of the selected intersections they are noted in the "Other metals" column: Highlighted Rubidium Intersections Hole From (m) To (m) Length* (m) Rb2O ppm Other metals MF11-03 71.8 77.0 5.2 1784 MF11-06 55.0 59.0 4.0 1896 MF11-09 10.0 13.0 3.0 2885 Ta and 18.9 26.7 7.8 1880 Li, Cs, Ta MF11-11 2.0 6.1 4.1 3030 Li, Cs, Ta MF11-12 27.3 58.0 30.7 1779 Ta incl. 48.0 58.0 10.0 2221 Ta and 101.0 179.0 78.0 1924 Li, Cs, Ta incl. 119.5 142.8 23.3 2853 Li, Cs, Ta MF11-13 8.0 29.1 21.1 1864 Li, Cs, Ta MF11-16 89.4 100.2 10.8 2191 Li, Cs, Ta MF11-18 17.0 24.5 7.5 2611 Cs MF11-19 19.3 26.0 6.7 1920 Cs Highlighted Tantalum Intersections 150 ppm Ta2O5 Hole From (m) To (m) Length* (m) Ta2O5 ppm Other MF11-08 25.0 28.0 3.0 164 Rb, Cs MF11-09 8.1 13.7 5.6 181 Rb MF11-11 3.0 5.0 2.0 171 Rb, Cs MF11-12 30.0 53.0 23.0 165 Rb, Cs Incl. 34.8 42.0 7.2 200 Rb, Cs and 106.2 117.0 10.8 182 Rb, Cs MF-11-13 25.80 29.10 3.30 193 Rb, Cs * All widths reported are drill core widths and have not been converted into true width. Caesium (Cs) highlights include 2.15m averaging 571 ppm Cs2O (MF11-12 from 112.0m to 114.15m), 2.0m averaging 201 ppm Cs2O (MF11-09 from 22.0m to 24.0m) and 1.0m averaging 657 ppm Cs2O (MF11-08 from 25.0 to 26.0m). Caesium enrichment is more sporadically distributed than lithium or rubidium and tends to have highest values immediately adjacent to the pegmatites in the metavolcanic wall rock. The vast majority of the drill holes were oriented perpendicular to the surface trace of mapped pegmatites and parallel to historical drilling in order to confirm historic grades and widths. Most pegmatite targets were scissored by drilling from both north and south directions to provide a valuable structural interpretation for future exploration programs. Holes MF11-01 through MF11-16 were drilled on the Fairservice claim block primarily covering a 650 metre long trend defined by the outcrops historically identified as Pegmatite #1 and Pegmatites #3 to #6. Holes MF11-17 through MF11-20 were drilled on the Mavis Lake claim block with holes MF11-17 through MF11-19 drilled 2kms to the northeast in the vicinity of Pegmatite #18 and hole MF11-20 drilled 600m to the southeast of the Fairservice drill holes. The limited drilling has not provided the Company with sufficient information to determine the true thickness, shape and orientation of the intersected pegmatites. Hole MF11-12 was noteworthy due to its long pegmatite intersections and the identification of a previously unknown pegmatite body lower in the hole. The two major pegmatite intersections contain geochemically different characteristics and indicate two potentially distinct pegmatite populations. The upper intersection is enriched in Rb+Ta+Cs and Li poor compared to the lower intersection enriched in Li+Rb+Ta+Cs. Laboratory work was conducted by Activation Laboratories Ltd of Ancaster, Ontario with the samples being submitted by Company staff to their Dryden prep facilities. Activation Laboratories is an accredited laboratory with ISO 17025:2005 and CAN-P-1579 certification. Analysis was conducted using sodium peroxide fusion followed by ICP-MS. The Company uses industry recognized practices to ensure quality control. Mavis Lake - Fairservice Property Area - GeneralThe Mavis Lake – Fairservice property is located 15 km Northeast of Dryden, Ontario. The property is easily accessed via the Trans-Canada Highway and a series of logging roads. The claim blocks comprise a total of 2,624 hectares and straddle a continuous pegmatite field exhibiting high-grade, well-evolved, lithium and tantalum zonation as well as significant levels of cesium and rubidium. Regional pegmatite mineralization is directly associated with the strongly peraluminous Ghost Lake Pluton and related pegmatitic granite dykes. Rare metal mineralization in the Mavis Lake area occurs in zoned pegmatites hosted by mafic metavolcanic rocks. Rare metal mineralization occurs in four zones: internal beryl zone within the parent of the Ghost Lake pluton that evolves to the east within the Fairservice and Mavis Lake claim blocks into external zones of beryl-columbite, spodumene-beryl-tantalite and albite-type pegmatites. John Harrop, P.Geo, is the company's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release. For more information on the Mavis Lake - Fairservice Project, please refer to the Company's press release dated October 11, 2011 and visit International Lithium Corp.'s website at www.internationallithium.com. About Rare Metals Tantalum is predominantly utilized in high-temperature processes and electronic devices. Due to its resistance to corrosion it is often applied to parts of boilers, capacitors, chemical processes, electrodes in neon lights, and even rockets. In conjunction, the metal's high bio-inert nature is an important quality for its many medical applications such as surgical implants and tools. There is increasing demand from end users that manufacturers use rare metal suppliers operating in jurisdictions such as Canada that enforce regulations in environmental and other ethical areas. Rubidium is an alkali metal (similar in chemistry to potassium and caesium). Applications for rubidium chemicals include biomedicine, electronics, specialty glass and pyrotechnics. Rubidium can also be used as a lower cost substitute for some caesium applications. Caesium is also an alkali metal. Applications for caesium include formate brines, biomedicine, pyrotechnics and electronics. Formate brines are specialized high pressure / high temperature / high density fluids used in oil and gas drilling. Caesium is also used in atomic clocks which play an important role in global positioning systems, Internet, cell phone transmissions and aircraft guidance systems. ABOUT INTERNATIONAL LITHIUM CORP International Lithium Corp. is a rare metals mineral 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' centered 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, limited assaying for rare metals, clear potential for additional exploration to add project value and development potential 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, Mike SiebPresident – 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. Stock Symbol: ILC:TSXVShares CUSIP: #459820 10 6Warrants Symbol: ILC.WTWarrant CUSIP: #459820 11 4 620 - 650 West Georgia StreetVancouver, British ColumbiaV6B 4N9, Canada Voice: (604) 687-7551Fax: (604) 687-4670 1-800-667-4470E-mail: info@internationallithium.com Website: http://www.internationallithium.com SOURCE International Lithium Corp. International Lithium Corp. CONTACT: http://internationallithium.com

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