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ILC Critical Minerals Ltd. Extends Option to Buy Lepidico Mauritius Ltd, Which Owns 80% of the Namibian Company That Owns a 100% Interest in the Karibib Lithium, Rubidium and Cesium Project
Vancouver, British Columbia--(Newsfile Corp. - January 26, 2026) - ILC CRITICAL MINERALS LTD. (TS...
About this update from Ilc Critical Minerals Limited
[{"type":"text","content":"ILC Critical Minerals Ltd. Extends Option to Buy Lepidico Mauritius Ltd, Which Owns 80% of the Namibian Company That Owns a 100% Interest in the Karibib Lithium, Rubidium and Cesium ProjectVancouver, British Columbia--(Newsfile Corp. - January 26, 2026) - ILC CRITICAL MINERALS LTD. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH0) (\"ILC\" or the \"Company\") is pleased to announce that it has extended its option to buy 100% of Lepidico (Mauritius) Ltd. (\"Lepidico Mauritius\") from Lepidico (Canada) Inc. (\"Lepidico Canada\") until February 27, 2026.Since the option and the related loan agreement were first announced on September 9, 2025, Lepidico Chemicals Namibia (Pty) Ltd. (\"LCN\" or \"Lepidico Namibia\") has received, as announced on December 29, 2025, an adverse arbitration determination from the Singapore based SIAC in respect of LCN's dispute about an offtake agreement concluded with Jiangxi Jinhui Lithium Co. Ltd. in China. Despite the original offtake agreement in 2018 being under Ontario Law, and the arbitration being in Singapore, the arbitration tribunal consisted of two Chinese professors resident and working in China, and one Singaporean. There have been and remain some quite complicated legal questions to address, and also there is the need to obtain exchange and/or regulatory approval in Canada and Namibia. So an option extension was necessary. In return for receiving that option extension, ILC has agreed to provide to Lepidico additional working capital payments totaling a further CAD$145,000. Should the option to buy Lepidico Mauritius be exercised these payments will be without recourse to Lepidico Canada. Should the option not be exercised, these payments will be added to the secured loan and interest owed by Lepidico Canada.About ILC Critical Minerals Ltd.ILC Critical Minerals Ltd., formerly International Lithium Corp., has exploration activities in Ontario, Canada, with intentions to expand into Southern Africa. It has projects at various stages, ranging from Definitive Feasibility Study at Karibib in Namibia (note that ILC currently has an option only and is treating this as historic information at this point and not a current resource for ILC) to 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 proje...