Mr. Francis MacDonald reports

LIFT INTERSECTS 22 M AT 1.35% LI2O AND 22 M AT 0.82% LI2O INCLUDING 10 M AT 1.35% AT THE BIG EAST PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has released assays from five drill holes completed at the BIG East 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-0077: 22 metres (m) at 1.35 per cent lithium oxide (Li2O) (BIG East);
• YLP-0074: 22 m at 0.82 per cent Li2O (BIG East):
  • Including 10 m at 1.35 per cent Li2O;
• YLP-0108: 15 m at 1.28 per cent Li2O (BIG East):
  • And 14 m at 1.27 per cent Li2O;
• YLP-0076: five m at 1.38 per cent Li2O (BIG East):
  • And four m at 1.04 per cent Li2O;
  • And three m at 1.15 per cent Li2O;
  • And one m at 1.33 per cent Li2O;
  • And four m at 1.00 per cent Li2O;
• YLP-0081: 10 m at 0.98 per cent Li2O (Fi-Southwest):
  • And three m at 1.20 per cent Li2O;
  • And three m at 1.33 per cent Li2O.

Discussion of results

This week's drill results are for five holes from two different pegmatite dikes, including four from the BIG East swarm (YLP-0074, 76, 77, 108) and one from Fi Southwest (YLP-0081).

BIG East pegmatite

The BIG East pegmatite swarm comprises a 35-metre-wide to 90-metre-wide corridor of parallel-trending dikes that dip around 55 degrees to 75 degrees west and extend for at least 1,100 m along surface and 200 m downdip.

YLP-0074 was designed to test the BIG East swarm just 50 m south of the dike swarm's northern mapped extent and 25 m vertically beneath the surface. Drilling intersected two pegmatite dikes in 33 m of core, with first dike intercepted over four m and the second 22 m but including three one-metre-wide to two-metre-wide septa of metasedimentary country rock. Assays from the lower dike returned 0.82 per cent Li2O over 22 m, including an interval of 1.35 per cent Li2O over 10 m.

YLP-0076 was drilled 600 m south of YLP-0074 to test the BIG East swarm approximately 550 m from its southern mapped extent and 50 to 100 m vertically beneath the surface. Drilling intersected eight, two-metre-wide to eight-metre-wide pegmatite dikes that are separated by at least three m of country rock and sum up to a total 37 m of pegmatite or approximately 40 per cent of the 90-metre interval. Five of these dikes returned assay composites between 1.00 per cent to 1.38 per cent Li2O over core widths of one to five m; one returned 0.55 per cent Li2O over five m; and the two narrowest dykes, which bookend this 90 m interval, returned negligible grades.

YLP-0077 was drilled approximately halfway between YLP-0074 and YLP-0076, approximately 300 m from the northern end of the BIG East swarm and tested 150 to 200 m below the surface. Drilling intersected two dikes over 39 m of drill core, with the upper intercept approximately four m wide and the lower dike 25 m. Assay results for the lower dike returned a composite of 1.35% per cent Li2O over 22 m whereas the upper dike returned one m of 0.47 per cent Li2O and otherwise negligible results.

YLP-0108 was drilled between YLP-0076 and YLP-0077 to test the BIG East swarm approximately 550 m from its northern mapped extent and 75 m vertically below the surface. Drilling again intersected two dikes over 39 m of drill core, with the upper dike approximately 14 m wide and the lower one 17 m. Assay results for the upper dike returned a composite of 1.27 per cent Li2O over 14 m whereas the lower dike returned 1.28 per cent Li2O over 15 m.

Fi Southwest pegmatite

The Fi Southwest (SW) pegmatite is one of several dikes occurring within a longer and wider north-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 downdip.

YLP-0081 was drilled to test the Fi-SW pegmatite 50 m from its known northern end and 150 to 200 m vertically below the surface. Drilling intersected three, five-metre-wide to 14-metre-wide, pegmatite dikes over 39 m of core length, for cumulative pegmatite thickness of 22 m (or 56 per cent of this interval). Assay composites from the uppermost to lowermost dike include, respectively, 1.20 per cent Li2O over three m, 1.33 per cent Li2O over three m and 0.98 per cent Li2O over 10 m.

Drilling progress update

Currently, Li-FT has reported results from 82 diamond drill holes (14,451 m). The company concluded its initial drill program at the Yellowknife lithium project with 198 diamond drill holes 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 to 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.

QA/QC (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 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 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-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 Ron Voordouw, PhD, PGeo, partner, director geoscience, Equity Exploration Consultants, 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).

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.

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