About us

ILC Critical Minerals Ltd. (“ILC”) is a debt-free Canadian-based critical minerals exploration company.

ILC specialises in Lithium and Rubidium and also has an early stage copper exploration project. The key project at this point is the Raleigh Lake project near Ignace, Ontario, Canada. This is already at the Preliminary Economic Assessment (PEA) stage. The NPV for only the Lithium at Raleigh Lake is C$360m and the IRR 45.8% p.a. based on a SC6 spot price at end March 2026 of US$2,313 per tonne and a spot rate of USD=CAD1.3934. No PEA has yet been done for the rubidium resource at Raleigh Lake, but this work will be done. As well as Canada, Zimbabwe remains a country of interest. Exclusive Prospecting Orders (EPOs)have been applied for there.

ILC is quoted on the TSX Venture Exchange (TSX.V:ILC), in the U.S. (OTCQB:ILHMF) and in Germany (FRA:IAH0). The company’s name was previously International Lithium Corp.

Lithium is by now quite well understood as a story by institutional and retail investors. Rubidium is not as well understood, and is a smaller and more opaque market. ILC will be playing a full part in building market awareness of the uses of and economic potential for these metals.

ILC’s key metals are:

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Lithium (Li)

A close-up view of various white to light gray rocks with rough textures.

Rubidium (Rb)

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Copper (Cu)

ILC’s regions of operation are presently Canada (Ontario) and Southern Africa (Zimbabwe)

In December 2023 ILC declared a Preliminary Economic Assessment (PEA) at its Raleigh Lake Lithium and Rubidium project in Ontario.

This PEA showed an after-tax NPV of CAD$ 342.9 million, and an after-tax IRR of 44.3% p.a. based on lithium and spodumene prices and operating costs at the end of 2023. Since then lithium prices have varied considerably, falling and then recovering, but at end March 2026 spot prices for 6% spodumene concentrate in C$ are back up to slightly over the prices assumed in the PEA.

This initial PEA covered only the 600 hectare area in Zone 1 of Raleigh Lake in which drilling has taken place, and did not yet take account of the rubidium which was declared as a separate resource in the March 2023 Maiden Resource Estimate.

In Zimbabwe ILC has applied for a number of Exclusive Prospecting Orders which if granted will be a significant addition to the Company’s portfolio. 

In 2024, ILC completed the acquisition of the Firesteel Copper project in Ontario, and announced the filing of drilling permit applications there at the same time. Drilling continues to establish whether or not there are commercially interesting copper resources present there.

We are constantly looking at other opportunities, especially in our strategic regions.

Strategy

ILC Critical Minerals Ltd. (ILC), formerly International Lithium Corp., is a mineral exploration and development company focused on lithium, rubidium and other critical and rare minerals that have roles to play in the energy revolution. Projects are in Canada at present with projects planned in Southern Africa.

Uses for Lithium include a major role in electric vehicle batteries, renewable energy storage and energy storage for AI data centres.

Uses for Rubidium include precision atomic clocks and space clocks, enhancing the performance of certain solar cells and batteries, and as rubidium formate in oil drilling fluids. It is also set to play a significant role in the fast emerging technology of quantum computing.

ILC’s model is typically to maintain majority ownership and operational control of a project during the exploration stage leading to a resource estimate or feasibility study, ensuring flexibility and alignment with long-term objectives.

As projects evolve to capital-intensive development stages, ILC remains open to strategic partnerships with industry players or government bodies to support project advancement. The company maintains a prudent financial approach, prioritizing liquidity and remaining debt-free. ILC has financed itself through a combination of equity raises and selling more advanced projects to finance new strategic projects. This has allowed the company to get to the point of having its Raleigh Lake project at PEA stage and still 100% owned.

Based in Canada, ILC benefits from rich resources, political stability, and the Ontario lithium belt’s proximity to the North American auto industry in Windsor and Detroit. Internationally, Southern Africa is a strategic focus due to its significant lithium and rubidium and other critical minerals reserves and potential role in the European and North American supply chain.

While we may evaluate selective opportunities in Europe and Africa, our focus remains on high-potential core projects.

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Board and Senior Management

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John Wisbey
Chairman and CEO

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John Wisbey
Chairman and CEO

John joined the board of ILC in 2017. After a few months he became Deputy Chairman then Chairman and CEO in March 2018. He has personally invested significant funds in ILC and is now the largest shareholder. Under his leadership the company has moved from heavy debt to net cash, secured 100 percent ownership of Raleigh Lake Lithium and Rubidium project, obtained in 2025 an option on Lepidico’s interest in the Karibib Lithium, Rubidium and Cesium project in Namibia which reached the feasibility stage under JORC in 2020, sold minority stakes in three other projects, expanded claims, delivered NI 43-101 resource and PEA reports at Raleigh Lake, and added the Firesteel copper claims. John has been driving a stronger focus on Southern Africa in Namibia and Zimbabwe.

John has had a career as a banker, a financial technology entrepreneur and most recently, an entrepreneur in the critical minerals space. He holds various Chairman or Director roles in Switzerland and the UK, several with an interest in Africa. He previously founded two London AIM-listed companies: IDOX plc, which provides software for UK Local Government, and as of December 2025 has a market cap of GBP 315m, and Lombard Risk Management plc (acquired by Vermeg for GBP 52m in 2018), which specializes in software for bank risk management and regulation. When he was a banker at Kleinwort Benson, he held various roles in the UK and Asia, including a Director in the Derivatives Group, Head of Options, and corporate lending. John has acted as a public company Chairman, CEO or Director for 26 years. He is a graduate of Cambridge University.

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Maurice Brooks
Director and Chief Financial Officer

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Maurice Brooks
Director and Chief Financial Officer

Maurice joined the board of ILC in 2017. He is a licensed senior statutory auditor in the UK. Since 2000, he has been a senior partner at Johnson, Smith & Co., Chartered Accountants and Statutory Auditors in Staines, Surrey. Before that, he was senior partner at Johnsons Chartered Accountants in Ealing, London.

His commercial and investment experience includes executive directorships in manufacturing and mining exploration, and acting as investment accountant to the superannuation fund of the Western Australian state government. Earlier in his career, he worked at Ball Baker Leake and Price Waterhouse Coopers UK.

Maurice has announced his intention to retire from ILC in 2026.

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Anthony Kovacs
Director and COO

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Anthony Kovacs
Director and COO

Anthony joined ILC in 2012 as Chief Operating Officer and was appointed to the board in 2018. He was instrumental in managing the Mariana lithium brine project in Argentina until 2017 and other joint venture projects which ILC has now successfully monetized. Most recently he was the initial person to recognize the potential of the Raleigh Lake project in 2016, and after ILC bought its partner Essential Metals out in 2018, he then played the leading role in advancing it to the Maiden Resource Estimate and then PEA stage in 2023.

Anthony has over twenty-five years of experience in mineral exploration and development. Before joining ILC, he held senior management roles sourcing and advancing iron ore and industrial minerals projects, including the early-stage work at the Lac Otelnuk Iron Ore project in Quebec, Canada and the Mustavaara Vanadium Mine in Finland. Before that, Anthony worked for Anglo American, focusing on Ni-Cu-PGE and IOCG projects and was directly involved in several discoveries internationally. Anthony has significant experience with industrial minerals, ferrous metals, non-ferrous metals and precious metals projects throughout the Americas, Europe, and Africa. He completed a B.A.Sc. in Geological Engineering at the University of British Columbia.

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Ross Thompson
Non-Executive Director

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Ross Thompson
Non-Executive Director

Ross joined the board of ILC in 2017 as a NED and chairs the Audit and Compensation Committees. Ross is a speaker and expert in marketing behavioral science. In 1995, he founded Giftpoint Ltd., of which he is Chairman. Giftpoint is one of the largest specialist promotional merchandise businesses in the UK, with offices in London and Shanghai, China. Giftpoint’s clients include L’Oreal, Oracle, Ocado, Pernod Ricard and other well-known brands. For seven years, Ross was President of IGC Global Promotions, one of the world’s oldest and largest global networks of premium resellers. He is an active investor in other businesses and has a special interest and understanding of the natural resources industry.

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Geoffrey Baker
Non-Executive Director

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Geoffrey Baker
Non-Executive Director

Geoff joined the board of ILC at the end of 2022 and is a member of the Audit Committee. He has over 30 years of experience in the natural resource and finance industries. He is a director of Tim Trading Limited, a company offering consultancy services in the Oil and Gas industry. During his tenure as Manager of Insch Black Gold Funds, Geoff received the Investors' Choice Swiss Fund Manager of the Year Award. He is a Co-Founder of a digital collectible non-fungible token CryptoChronic, and of Cannastore, a pilot E-commerce website. Geoff holds a Bachelor’s degree from the University of Windsor, Ontario.

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Muhammad Memon
Corporate Secretary and Finance Controller

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Muhammad Memon
Corporate Secretary and Finance Controller

Muhammad became Corporate Secretary of ILC in 2021. He has over 15 years of experience in managing finance and compliance functions of public companies in various sectors, including mining exploration, investment management, real estate, and technology. He assists companies with debt and equity financings, cash flow management and forecasting, legal and regulatory compliance, investor communications, stakeholder engagement and risk management. He is a member of the Chartered Professional Accountants of Canada and a fellow of the Association of Chartered Certified Accountants, United Kingdom.

Committees of the Board

Name Audit Committee Compensation Committee
John Wisbey - Member
Ross Thompson Chair Chair
Geoffrey Baker Member -
Maurice Brooks Member Member
Anthony Kovacs - -

Advisors

Category Entity
Auditors MNP LLP, Vancouver
Bankers Bank of Montreal, Vancouver and Royal Bank of Canada
Lawyers Cozen O’Connor, Vancouver
Registrar Computershare, Vancouver
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Articles of Association
Articles with Advance Notice dated January 23, 2014
ILC Articles of Association Changes dated December 10, 2018

ESG

ILC Critical Minerals Ltd. (ILC) is committed to responsible exploration and development of critical energy metals—lithium, rubidium and copper.

At ILC, we believe deeply in a cleaner, greener planet and in the health benefits of achieving less polluted cities. Lithium and copper have particularly large roles to play in the energy revolution with energy demand likely to be increased sharply by AI data centres, and we are proud to play our small part in achieving that, recognizing both the environmental benefits and challenges. All that said, we urge policymakers to manage the long-term transition from fossil fuels well so as to avoid highly damaging energy shortages on the way.

The social score of our operations is going to be influenced by our respect for local communities. This includes always being mindful of the integrity of their water supplies.

Our ESG goals are:

  • Minimize land disturbance and effectively restore the land once mining activities are completed

  • To prioritize and safeguard the integrity of water supplies in our projects

  • To have a positive impact on and open dialogue with the local communities within our projects

  • Continue to have stringent health and safety protocols to protect our employees on project sites

Corporate Social Responsibility

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ILC is committed to corporate responsibility in every aspect of its business and operations worldwide.

  • We are accountable to employees, communities, and the environment, and we comply with laws and regulations.

  • Health and Safety are primary concerns. We uphold the law and respect medical freedom of staff.

  • Employees and contractors must act fairly and ethically to protect our reputation.

  • No tolerance for racial, gender, or age discrimination.

  • We aim to surpass all environmental regulations where we operate.

Explore our metals