Mr. Francis MacDonald reports

LIFT INTERSECTS 22 M AT 1.46% LI2O AT THE FI SOUTHWEST, 24 M AT 1.12% LI2O AT THE FI MAIN, AND REPORTS FIRST RESULTS FROM BIG EAST AND SHORTY PEGMATITES, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has released assays from 12 drill holes completed at the Fi Southwest, Fi Main, Shorty and BIG East pegmatites within the Yellowknife lithium project (YLP) located outside the city of Yellowknife, NWT, and also confirms DTC eligibility status. Drilling has intersected significant intervals of spodumene mineralization, with the following highlights.

Highlights:

• YLP0031: 22 metres (m) at 1.46 per cent lithium oxide (Li2O), including 19 m at 1.63 per cent Li2O (Fi Southwest);
• YLP0024: 24 m at 1.12 per cent Li2O, including 15 m at 1.47 per cent Li2O (Fi Main);
• YLP0033: 25 m at 1.13 per cent Li2O, including 16 m at 1.50 per cent Li2O (Shorty);
• YLP0035: 19 m at 1.01 per cent Li2O, including 14 m at 1.25 per cent Li2O (BIG East):
  • And 16 m at 1.13 per cent Li2O, including six m at 1.69 per cent Li2O (BIG East).

Francis MacDonald, chief executive officer of Li-FT, comments: "We are excited to showcase high-grade spodumene over significant widths at each of the first four pegmatites which have been drilled thus far. With 35 holes now reported, we have 82 holes still to report, including holes from two further pegmatites, Echo and Ki. In the recent days, the city of Yellowknife, the Yellowknives Dene First Nation and the government of the Northwest Territories have announced a re-entry plan for residents of Yellowknife, Ndilo and Dettah who have been evacuated due to wildfires. We would like to commend the workers and volunteers who have done a tremendous job to secure Yellowknife, Ndilo and Dettah. We look forward giving a further update on operations once staff have been mobilized back to the project and drilling has commenced again.

"Furthermore, we are pleased to have received DTC eligibility recently and as part of our core goals to growing the company profile. Following a number of U.S. inquiries, we are confident that receiving DTC eligibility is another significant step forwards as we provide enhanced access and liquidity to our growing U.S. investor base."

Discussion of drill results

Hole YLP0024 continued testing the north end of a 700-metre-long segment of the Fi Main dike. The hole was targeted to intercept the downdip extension of spodumene mineralization exposed in surfaces trenches. The hole intercepted several parallel dikes, with the main one returning 24 metres averaging 1.12 per cent Li2O from 71 metres.

Holes YLP0025 to YLP0031 and YLP0034 continued testing a 690-metre-long section of the Fi Southwest dikes. Drilling confirmed the downdip extension of spodumene mineralization exposed at surface in most holes. Hole YLP0031 intercepted 22 metres averaging 1.46 per cent Li2O from 154 metres, including 19 m averaging 1.63 per cent Li2O from 155 metres.

To date, the Fi Southwest and Fi Main drill holes have collectively tested 1,750 metres of strike length within the Fi dike complex, confirming continuity of the spodumene mineralization to a maximum depth to date of approximately 100 metres. Spodumene is the primary lithium mineral constituent of the dike, along with varying amounts of quartz, feldspar and muscovite.

Drill hole YLP0033 was the first hole of the drill program to test the Shorty pegmatite. The pegmatite is a moderately dipping dike that trends for over 800 metres on surface with an average width of 25 metres. The hole drilled into the central portion of a 400-metre-long segment of the dike below historical trenching averaging 21 metres of 1.1 per cent Li2O. The hole confirmed better grade and width of spodumene mineralization at 50 metres below the surface trenches, with an intercept of 25 metres averaging 1.13 per cent Li2O from 42 metes, including 16 metres averaging 1.50 per cent Li2O from 50 metres.

Drill holes YLP0032 and YLP0035 are the first holes testing the BIG East dike swarm which is exposed over 1,300 metres as a 120 metre-wide corridor of parallel-trending dykes (Figure 8). The holes were drilled 150 metres apart under a 350 metre-long central section of the dike swarm to 75 metres below surface. Hole YLP0032 intercepted two dikes, one with 15 metres averaging 0.75 per cent Li2O from 58 metres, including eight m averaging 1.04 per cent Li2O from 60 metres and the other 18 metres averaging 1.04 per cent Li2O from 86 metres. Hole YLP0035 intercepted three dikes. The intercept in the upper dike averaged 1.01 per cent Li2O over 19 metres from 11 metres, including 14 metres averaging 1.25 per cent Li2O from 13 metres. The middle dike intercepted 16 metres of 1.13 per cent Li2O from 39 metres. Spodumene is the primary lithium mineral constituent of the dike swarm occurring with varying amounts of quartz, feldspar and muscovite.

DTC eligibility

The Depository Trust Company (DTC) has made the company's common shares eligible for electronic deposit at the DTC. The company believes being DTC eligible will make trading in its common shares on the OTCQX Best Market more accessible to the United States investment community. The company's common shares will continue to trade on the OTCQX Best Market under the ticker symbol LIFFF.

DTC is a subsidiary of the Depository Trust & Clearing Corp. and manages the electronic clearing and settlement of publicly traded companies. Securities which are eligible to be electronically cleared and settled through the DTC are considered DTC eligible. Having DTC eligibility enables the the company's common shares to be distributed, settled and serviced through DTC's automated processes. This allows for a more streamlined process of trading of its common shares in the United States while enhancing the liquidity of the common shares in the OTC capital markets.

QA/QC (quality assurance/quality control) and core sampling protocols

All drill core samples were collected under the supervision of the company's employees and contractors. Drill core was transported from the drill platform to the logging facility where it was logged, photographed and split by diamond saw prior to being sampled. Samples were then bagged and blanks and certified reference materials were inserted at regular intervals. Field duplicates consisting of quarter-cut core samples were also included in the sample runs. Groups of samples were placed in large bags, sealed with numbered tags in order to maintain a chain of custody and transported from the company's core logging facility to ALS Labs laboratory in Yellowknife, NWT.

Sample preparation and analytical work for this drill program were carried out by ALS. Samples were prepared for analysis according to ALS method CRU31: individual samples were crushed to 70 per cent passing through two millimetres (mm) (10 mesh) screen; a 1,000-gram subsample was riffle split (SPL-21) and then pulverized (PUL-32) such that 85 per cent passed through 75-micrometre (200 mesh) screen. A 0.2-gram subsample of the pulverized material was then dissolved in a sodium peroxide solution and analyzed for lithium according to ALS method ME-ICP82b. Another 0.2-gram subsample of the pulverized material was analyzed for 53 elements according to ALS method ME-MS89L. All results passed the QA/QC screenning at the lab, all inserted standards and blanks returned results that were within acceptable limits.

Qualified person

The disclosure in this news release of scientific and technical information regarding the company's mineral properties has been reviewed and approved by Carl Verley, PGeo, vice-president, exploration, of Li-FT Power and a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects). No QA/QC review is available in relation to historical sampling and drilling on the Yellowknife project and results have not been verified by a qualified person as defined by NI 43-101. Past sampling and drilling results are not necessarily indicative of future results or performance from the Yellowknife property.

About Li-FT Power Ltd.

Li-FT Power is a mineral exploration company engaged in the acquisition, exploration and development of lithium pegmatite projects located in Canada. The company's flagship project is the Yellowknife lithium project located in Northwest Territories, Canada.

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