Mr. Francis MacDonald reports

LI-FT ANNOUNCES SIZING OF OVERNIGHT MARKETED PUBLIC OFFERING

Li-FT Power Ltd. has provided an update on the sizing of its previously announced overnight marketed public offering. Pursuant to the offering, the company will issue 1.25 million flow-through (FT) common shares of the company that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) at a price of $8.65 per flow-through share for aggregate gross proceeds of $10,812,500.

The offering is being conducted through a syndicate of agents led by Canaccord Genuity Corp. (collectively, the agents).

The company has granted the agents an option to sell up to such number of additional flow-through shares as is equal to 15 per cent of the number of flow-through shares sold pursuant to the offering, at the offering price, which agents' option is exercisable, in whole or in part, at the sole discretion of the agents at any time up to 24 hours prior to the closing date (as defined herein).

The offering will be conducted pursuant to the company's Canadian base shelf prospectus dated Sept. 21, 2023. A prospectus supplement relating to the offering will be filed in each of the provinces of Canada, except Quebec, and may be offered in the United States on a private placement basis, pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws, and certain other jurisdictions outside of Canada and the United States. The base shelf prospectus is available and the prospectus supplement will be available under the company's profile on SEDAR+.

The gross proceeds of the offering will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures, as such terms are defined in the Income Tax Act (Canada), related to the company's Yellowknife lithium project located in the Northwest Territories, Canada, on or before Dec. 31, 2024. All qualifying expenditures will be renounced in favour of the subscribers effective Dec. 31, 2023.

It is anticipated that closing of the offering will occur on or about Nov. 17, 2023, or such other date or dates as the company and the agents may agree. The offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange.

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 the 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 the Northwest Territories within the Little Nahanni pegmatite group.

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