ILC Critical Minerals Ltd. Announces Extension of Private Placement

Executive Summary

• ILC Critical Minerals Ltd. is extending the closing of its non-brokered private placement financing to June 26, 2026.
• The offering will issue up to 50,000,000 common shares at CAD$0.02 per share, targeting gross proceeds of up to CAD$1,000,000.
• Proceeds will be allocated primarily to exploration programs at the Raleigh Lake and Wolf Ridge projects, with additional funds designated for working capital and management/director fees.

Key Details

• Offering Extension: Closing date extended to June 26, 2026 (originally announced April 8, 2026).
• Security & Pricing: Up to 50,000,000 common shares at a price of CAD$0.02 per share.
• Gross Proceeds: Up to CAD$1,000,000.
• Use of Proceeds: $500,000 (50%) for exploration at Raleigh Lake and Wolf Ridge Projects; $275,000 (27.5%) for general working capital; $225,000 (22.5%) for management and director fees.
• Investor Relations Fees: Expected to be less than 10% of gross proceeds; all engagements will be filed with the TSX Venture Exchange in accordance with their policies.
• Regulatory & Compliance Conditions: Closing is subject to TSXV acceptance; all issued securities carry a four-month hold period under applicable Canadian securities laws; the Company may pay finder's fees as permitted by TSXV policies.
• Insider & Related Party Transactions: Directors and insiders are expected to participate in the offering. This constitutes a "related party transaction" under Multilateral Instrument 61-101. The Company is exempt from formal valuation and minority shareholder approval requirements as the fair market value of shares issued to insiders does not exceed 25% of the Company's market capitalization.
• Advertising Campaign Extension: Announced a one-year extension of its advertising and investor awareness campaign with Dig Media Inc. (Investing News Network) for a total cost of $25,000, payable in quarterly installments of $6,250. INN currently holds no securities in the Company.
• Project & Market Context: Raleigh Lake PEA (Dec 2023) indicated a Post-tax NPV of CAD$342.9 million and IRR of 44.3% p.a. based on a spodumene price of US$2,325/t. As of May 2026, the spot spodumene price is approximately 10% higher than the PEA assumption. The Company notes its current market capitalization is less than 2% of the Raleigh Lake NPV.