Mr. Francis MacDonald reports

LIFT INTERSECTS 21 M AT 1.40% LI2O AT THE BIG EAST PEGMATITE AND 19 M AT 1.16% LI2O AT THE SHORTY PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has released assays from five drill holes completed at the BIG East, Shorty, Ki and Fi Southwest 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:

• YLP-0093: 21 metres at 1.40 per cent Li2O (lithium oxide) (BIG East);
  • Seven m at 1.99 per cent Li2O;
• YLP-0073: 19 m at 1.16 per cent Li2O (Shorty);
• YLP-0072: 17 m at 0.79 per cent Li2O (Ki);
  • Including six m at 1.11 per cent Li2O;
  • Including five m at 1.03 per cent Li2O;
• YLP-0079: 10 m at 1.36 per cent Li2O (Shorty);
  • Four m at 1.07 per cent Li2O;
  • One m at 1.42 per cent Li2O;
• YLP-0075: 10 m at 1.33 per cent Li2O (Fi Southwest);
  • Four m at 1.29 per cent Li2O.

Discussion of results

This week's drill results are for five holes from four different pegmatite dikes, including BIG East (YLP-0093), Shorty (YLP-0073, 79), Ki (YLP-0072) and Fi Southwest (YLP-0075).

BIG East pegmatite

The BIG East pegmatite swarm comprises a 35 to 80 m wide corridor of parallel-trending dikes that dips around 55 degrees to 75 degrees west and extends for at least 1,100 m along surface and 200 m down dip.

YLP-0093 was designed to test the BIG East swarm approximately 500 m from its northern end and 150 vertical m beneath the surface. Drilling intersected two pegmatite dikes over 38 m of core length that are, respectively, seven m and 25 m in width. Assays returned 1.99 per cent Li2O over seven m from the upper dike and 1.40 per cent Li2O over 21 m from the lower one.

Shorty pegmatite

The Shorty pegmatite is one of several dikes within a broader north-of-northeast-striking corridor. The Shorty pegmatite itself is a braided zone of dikes that dips 50 degrees to 70 degrees to the west-northwest and extends for at least 700 m on surface and 200 m down dip. Li-FT drilling shows that Shorty may comprise a single dike up to 25 m wide or two to four dikes, mostly one to 15 m wide, over 30 to 40 m of core length.

YLP-0073 was designed to test the Shorty dike approximately 350 m from its southern end and 50 m vertically beneath the surface. Drilling intersected a single, 25 m wide, pegmatite dike that returned an assay composite of 1.16 per cent Li2O over 19 m.

YLP-0079 was collared 100 m due west of YLP-0073 to test the Shorty pegmatite approximately 300 m from its southern end and 125 m vertically beneath the surface. Drilling intersected four pegmatite dikes over 39 m of core length, comprising a central 18 m wide pegmatite flanked by three two to five m wide dikes. The central pegmatite returned an assay composite of 1.36 per cent Li2O over 10 m whereas the two lower-flanking dikes returned 1.42 per cent Li2O over one m and 1.07 per cent Li2O over four m. The upper-flanking dike returned negligible grade.

Ki pegmatite

The Ki pegmatite is one of several dikes occurring within a broader north-of-northwest-striking corridor. The Ki dike itself extends for approximately 1,000 m on surface and at least 100 m down dip, is around 20 m thick, and dips between 65 degrees and 80 degrees to the southwest. Typically, the so-called main dike is flanked by one or more narrower (one to five m wide) dikes.

YLP-0072 was drilled to test the Ki dike approximately 250 m from its northern end and 25 vertical m below the surface. The main Ki dike extends from 11 to 30 m core depth and is split by a five m panel consisting mostly of wall rock. Thinner (one to four m wide) pegmatite intervals occur within this panel, immediately above the main dike, and 90 m farther down the drill hole. Assays from the main dike returned 0.79 per cent Li2O over 17 m and include subintervals of 1.03 per cent Li2O over five m and 1.11 per cent Li2O over six m. All the one to four m intervals returned negligible grades.

Fi Southwest pegmatite

The Fi Southwest (SW) pegmatite is one of several occurring within a broader north-of-northeast-striking dike corridor. The Fi SW dike itself is 25 to 30 m wide, dips 60 degrees to 80 degrees to the east-southeast, and extends for at least 1,100 m on surface and 200 m down dip.

YLP-0075 was drilled to test the Fi SW pegmatite just 50 m from its northern end and 150 m vertically below the surface. Drilling intersected 11 m and 13 m wide pegmatite dikes separated from each other by a 21 m interval that includes a three m wide pegmatite intercept. Assay composites include 1.29 per cent Li2O over four m for the uppermost dike and 1.33 per cent Li2O over 10 m for the lowermost, with the three m wide central dike returning negligible grade.

Drilling progress update

Currently, Li-FT has reported results from 77 diamond drill holes (13,570 m). To date, 198 diamond drill holes have been completed (34,238 m).

General statements

All five holes described in this news release were drilled broadly perpendicular to the dike orientation so that the true thickness of reported intercepts will range somewhere between 65 and 100 per cent of the drilled widths.

Mineralogical characterization for the YLP pegmatites 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.

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 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 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, 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 and member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (geologist registration No. L5245).

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.

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