Option Agreement Entered On Rare Metals Forgan Lake Project 

VANCOUVER, BC - International Lithium Corp. has entered into an option agreement with Metron Capital Corp. on the Company's 100% owned Forgan Lake property located 125km northeast of Thunder Bay, Ontario.

Under the terms of the Agreement, Metron can acquire an undivided 60% interest in the Property by incurring a total of $1,000,000 in exploration expenditures on the Property as follows: a minimum $350,000 in expenditures on the Property to be incurred by the first year following the date of execution of the Agreement, a minimum $200,000 in expenditures by the second year, a minimum $250,000 in expenditures by the third year, and a minimum $200,000 in expenditures by the fourth year. In addition, Metron must make $300,000 in aggregate cash payments to ILC of $25,000 on the date of Exchange acceptance of the Agreement, $50,000 on the anniversary of the first year following the date of execution of the Agreement, $75,000 on the second year and $150,000 on the third year as well as issue 600,000 shares of Metron in aggregate issuances to ILC of 50,000 shares on Exchange Acceptance, 100,000 shares by the anniversary of the first year following the date of execution of the Agreement, 150,000 shares by the second year following the date of execution of the Agreement and 300,000 shares by the third year following the date of execution of the Agreement.

Completion of any and all transactions contemplated by the Agreement is subject to, among other things, acceptance by the Exchange and all other necessary regulatory approvals.

The Forgan Lake Property, comprised of one 232 hectare claim block (16 units), is located 125 km northeast of Thunder Bay, Ontario. The Property is host to six known rare-metal pegmatites and is part of the Georgia Lake Pegmatite Field (GPF), an area witness to considerable lithium and other rare-metals exploration since its discovery in the mid-1950s. Of the six previously identified pegmatites, four known as the No. 1, No. 2, No.3 and No. 4 pegmatite, were explored on surface and subsequently drilled in 1955 by Lun-Echo. Channel sample results reported by Lun-Echo include: 2.57% Li2O over 6.4 metres, 4.23% Li2O over 7.5 metres and 1.98% Li2O over 7.6 metres from the No. 1 Pegmatite.

Recent exploration on the Property performed by the previous operator in 2009 and 2010 entailed the collection of 137 channel and grab samples from pegmatite surface exposures and 900 soil samples covering 27.7 kilometres of grid.

The channel samples confirmed grades and widths comparable to the ones reported by Lun Echo with significant values reported in five of the six known pegmatite bodies. The soil samples delineated anomalous patterns of beryllium, cesium, lithium, tantalum and tin with several highly anomalous zones located in areas of previously unidentified pegmatites.

The primary objectives for the next proposed phase of exploration is to perform a preliminary drill program to confirm the historic lithium grades at depth, determine the rare metal potential and test the new targets identified on the Property.

The company's address is Suite 620 - 650 West Georgia Street, Vancouver, BC V6B 4N9, email: [email protected].