Mr. Francis MacDonald reports

LIFT INTERSECTS 34 M AT 1.35% LI2O AT THE FI SOUTHWEST PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT

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

Highlights:

• YLP0038: 34 metres (m) at 1.35 per cent lithium oxide (Li2O), including 27 m at 1.53 per cent Li2O (Fi Southwest);
• YLP0036: 12 m at 1.19 per cent Li2O, including nine m at 1.46 per cent Li2O (Shorty);
• YLP0039: 13 m at 1.05 per cent Li2O and (BIG East) 11 m at 1.28 per cent Li2O;
• YLP0045: 12 m at 1.05 per cent Li2O, including eight m at 1.51 per cent Li2O (BIG East):
  • And 13 m at 0.71 per cent Li2O, including four m at 1.59 per cent Li2O;
  • And 16 m at 0.92 per cent Li2O, including 13 m at 1.10 per cent Li2O.

Francis MacDonald, chief executive officer of Li-FT, comments: "Fi Southwest and Shorty pegmatites continue to produce excellent drill results with demonstrable quantities of spodumene. The surprise for us is that BIG East has more spodumene pegmatite material than expected, based on outcropping surface expression. Although grade is partially diluted by internal sections of wallrock, the overall amount of pegmatite dike material at BIG East could add more tonnage than expected."

Discussion of drill results

Drill hole YLP0036 tested 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 was drilled into mid-section of the dike where it splays into three branches with intercepts ranging from four metres to 12 metres. The thicker middle dike intercepted 12 metres of 1.19 per cent Li2O from 59 metres down the hole with a nine-metre interval from 62 metres averaging 1.46 per cent Li2O.

Drill holes YLP0038 and YLP0041 were drilled in the Fi Southwest dike. Hole YLP0038 intercepted 34 metres of 1.35 per cent Li2O from 67 metres, including 27 metres of 1.53 per cent Li2O from 72 metres. Hole YLP0041 drilled at the south end of the dike intercepted a 31-metre interval of pegmatite from 66 metres, which was essentially barren.

Drill holes YLP0039 and YLP0045 tested the BIG East dike swarm which is exposed over 1,300 metres as a 120 metre-wide corridor of parallel-trending dikes. The holes were drilled 50 metres apart under the central section of the dike swarm to 90 metres below surface. Hole YLP0039 intercepted two dikes, the upper one with 13 metres averaging 1.05 per cent Li2O from 66 metres and the lower one 30 metres averaging 0.87 per cent Li2O from 92 metres, including 11 metres averaging 1.28 per cent Li2O from 111 metres. Hole YLP0045 is also interpreted to have intercepted two dikes. The intercept in the upper dike was very similar to that in YLP0039, averaging 1.05 per cent Li2O over 12 metres from 66 metres, including eight metres averaging 1.51 per cent Li2O from 67 metres. The lower dike is interpreted to have intercepted 33 m of pegmatite with a four-metre inclusion of metasediments in the middle. The upper section of that dike averages 13 metres of 0.71 per cent Li2O from 96 metres, including four metres of 1.59 per cent Li2O from 104 metres; the lower section averages 0.92 per cent Li2O for 16 metres from 113 metres, including 13 metres of 1.10 per cent Li2O from 115 metres. Spodumene is the primary lithium mineral constituent of the dike swarm occurring with varying amounts of quartz, feldspar and muscovite.

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

All drill core samples were collected under the supervision of LIFT 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 the 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 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-micron (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 screening 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).

About Li-FT Power Ltd.

Li-FT is a mineral exploration company engaged in the acquisition, exploration and development of lithium pegmatite projects located in Canada.

We seek Safe Harbor.