International Lithium not Affected by Argentina Glacier Law
TSX VENTURE: ILC
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2019) - International Lithium Corp. (TSXV: ILC) (OTC PINK: ILHMF) (the "Company" or "ILC") has taken note of the recent Supreme Court of Argentina decision in which the Court rejected a claim brought by Barrick Gold Corp. that the Argentina Glacier Protection Law was unconstitutional. This law, driven by environmental considerations, prohibits mining in Argentina where such mining is on or near glaciers or is on permafrost, and implementation of this law would inhibit certain projects in such areas, or might put them on hold indefinitely.
The Company's only current interest in Argentina is its part-ownership in the Mariana project joint venture with Ganfeng Lithium. The Board of Directors of the Company has sought and obtained reassurance that the location of the Mariana project is outside the scope of the Argentina Glacier Protection Law, as there are no designated glaciers in the vicinity of Salar de Llullaillaco, the site of the Mariana project. Consequently, the Board is pleased to report that the Supreme Court of Argentina decision would appear to have no effect whatsoever on the developmental viability or timescale of the Mariana project.
On behalf of the Company,
Chairman and CEO
For further information concerning this news release please contact +1 604-449-6520
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Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the effect of the Supreme Court of Argentina decision regarding the Argentina Glacier Protection Law, the viability of the Mariana Joint Venture Project, the expectation of feasibility studies, lithium recoveries, modeling of capital and operating costs, results of studies utilizing membrane technology at the Mariana Project, budgeted expenditures increased value of shareholder investments, and continued agreement between the Company and Jiangxi Ganfeng Lithium Co. Ltd. regarding the Company's percentage interest in the Mariana project. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.