ILC Critical Minerals Announces Private Placement

About this update from Ilc Critical Minerals Limited

Vancouver, British Columbia--(Newsfile Corp. - April 8, 2026) - ILC Critical Minerals Ltd. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH0) ("ILC" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") of up to 50,000,000 common shares at CAD$0.02 per share to raise gross proceeds of up to CAD$1,000,000. There are no warrants attached to this placement. The Company anticipates that $500,000 or 50% of the Offering proceeds will be used for exploration program on the Raleigh Lake and Wolf Ridge Projects, $275,000 or 27.5% for general working capital purposes, and $225,000 or 22.5% for management and director fees. Payments, if any, to persons conducting Investor Relations activities are expected to be appreciably less than 10% of the gross proceeds of the Offering. Any such Investor Relations engagements will be filed with the TSX Venture Exchange ("TSXV"), in accordance with their policies. Closing of the Offering is subject to acceptance by the TSXV. All securities issued in connection with the Offering will be subject to a four-month hold period from the date of issuance under applicable Canadian securities laws. The Company may pay finders fees on a portion of the placement, as permitted by TSXV policies and applicable securities laws. It is anticipated that some directors and insiders will participate in this Offering. The issue of shares (to the extent subscribed for by insiders) constitute "related party transactions" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), as the subscribers include directors of the Company. The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the shares in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the shares to be issued to directors and insiders does not exceed 25% of the Company's market capitalization. The Company is withdrawing the C$2,500,000 private placement of shares announced on February 3, 2026. A large part of that placement was allocated for the expected option exercise by February 27, 2026, to buy from Lepidico (Canada) Inc. 100% of Lepidico (Mauritius) Ltd. ("the Lepidico Option"). This company in turn controlled 80% of the Karibib project in Nami...

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