Mr. Francis MacDonald reports

LIFT INTERSECTS 37 M AT 1.22% LI2O AT THE FI SOUTHWEST PEGMATITE AND 16 M AT 1.24% LI2O AT THE FI MAIN PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT, ANNOUNCES MANAGEMENT UPDATE

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

• YLP-0054: 37 metres at 1.22 per cent Li2O (lithium oxide) (Fi SW);
• YLP-0057: 26 m at 0.47 per cent Li2O (Fi Main);
• YLP-0058: 12 m at 1.27 per cent Li2O (BIG East);
  • 11 m at 1.06 per cent Li2O;
• YLP-0062: 16 m at 1.24 per cent Li2O (Fi Main).

Francis MacDonald, chief executive officer of Li-FT, comments: "Fi Southwest continues to deliver wide intersects with excellent grades to a vertical depth of 150 metres. BIG East has delivered another great result with the two branches of the dike system totalling greater than 20 metres of dike material at consistent grades. Fi Main has more variable grades but continues to expand in terms of overall tonnage."

Discussion of drill results

This week's drill results are from the Fi pegmatite dike complex, which includes the Fi Southwest (Fi SW) and Fi Main dikes, as well as the BIG East pegmatite dike swarms.

Fi Southwest

YLP0054 and YLP0061 both tested the Fi SW pegmatite, a 25 to 30 m wide dike that dips 70 degrees to 80 degrees to the east-southeast and extends for at least 900 metres on surface and 200 metres down dip. Both holes were drilled on the same section located approximately 250 m south of the dike's northern tip.

YLP0054 was designed to test the Fi SW dike at 150 m vertically below surface, with drilling intersecting a subsidiary dike from 157 to 158 m depth and then 37 metres of Fi SW pegmatite from 180 to 217 metres core depth. Assays returned 1.22 per cent Li2O over this 37 m interval with true thickness estimated at approximately 75 to 80 per cent of that.

YLP0061 was drilled to test the Fi SW dike at 200 m vertically beneath the surface and, from 180 to 320 m core depth, cut through a swarm of at least 10 pegmatite dikes that range from one to 10 m wide. The cumulative width of these 10 dikes (38 m) is comparable with the single dike intersected in YLP0054. No significant assays were returned.

Mineralogical characterization for the Fi Southwest pegmatite is in progress through hyperspectral core scanning and X-ray diffraction work. Visual core logging indicates that the predominant host mineral is spodumene whereas other significant non-lithium-bearing phases include quartz and feldspar.

Fi Main

YLP0057 and YLP0062 were drilled into the Fi Main pegmatite, which comprises a 10 to 100 m wide corridor of one to five dikes that dips between 70 degrees and 85 degrees to the west-northwest and extends for at least 1,500 metres on surface and 200 metres down dip.

YLP0057 was designed to test the Fi Main dike approximately 450 metres north of its southern tip and 50 vertical metres beneath the surface. Drilling returned a single interval of pegmatite, from 45 to 71 metres core depth, that assayed 0.47 per cent Li2O over 26 metres. True thickness is estimated at approximately 65 per cent of the reported width.

YLP0062 was collared 100 metres north of YLP0057 to test the Fi Main dike at 550 m north of its southern tip and 50 vertical metres below the surface. Drilling returned a single interval of pegmatite that assayed 1.24 per cent Li2O over 16 metres from 43 to 59 metres core depth. True thickness is estimated at approximately 75 to 80 per cent of the reported width.

Mineralogical characterization for the Fi Main pegmatite is in progress through hyperspectral core scanning and X-ray diffraction work. Visual core logging indicates that the predominant host mineral is spodumene whereas other significant non-lithium-bearing phases include quartz and feldspar.

BIG East

YLP0058 was drilled into the BIG East pegmatite swarm, which comprises a 35 to 80 m wide corridor of parallel-trending dikes that dips 65 degrees to 70 degrees west and extends for at least 1,000 metres along surface and 200 metres down dip.

YLP0058 was designed to test the BIG East swarm approximately 200 m from its northern end and 100 metres vertically beneath the surface. Drilling intersected five dikes over 76 m of core length, with individual dikes ranging from one to 12 m in core length and summing to a combined width of 32 metres. Assays include intervals of 1.27 per cent Li2O over 12 metres, 1.06 per cent Li2O over 11 metres and 0.78 per cent Li2O over five metres. True thickness for all dikes in this hole is estimated at 90 to 95 per cent of the core widths.

Mineralogical characterization of the BIG East dike swarm is in progress through hyperspectral core scanning and X-ray diffraction work. Visual core logging indicates that the predominant host mineral is spodumene whereas other significant non-lithium-bearing phases include quartz and feldspar.

Drilling progress update

Currently, Li-FT has reported results from 62 drill holes (10,927 metres). To date, 188 diamond drill holes have been completed (30,235 metres).

Quality assurance/quality control and core sampling protocols

All drill core samples were collected under the supervision of Li-FT employees and contractors. Drill core was transported from the drill platform to the core processing 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 Li-FT'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 a two-millimetre (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 a 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, and 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 Li-FT's mineral properties has been reviewed and approved by Dr. Ron Voordouw, PhD, PGeo, partner, director, geoscience, Equity Exploration Consultants Ltd., and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Departure of Carl Verley as vice-president, exploration

The company announces the departure of Mr. Verley, vice-president of exploration, effective immediately. The company would like to thank Mr. Verley for his leadership, dedication and commitment to Li-FT over the last year and wishes him all the best in his future endeavours.

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. The company's flagship project is the Yellowknife lithium project located in Northwest Territories, Canada. Li-FT also holds three early-stage exploration properties in Quebec, Canada, with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali project in Northwest Territories within the Little Nahanni pegmatite group.

We seek Safe Harbor.