Mr. Francis MacDonald reports

LIFT INTERSECTS 26 M AT 1.14% LI2O AT THE FI SOUTHWEST PEGMATITE AND 20 M AT 1.52% LI2O AT THE SHORTY PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has released assays from eight drill holes completed at the Ki, Shorty and Fi-SW 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-0102: 26 m at 1.14 per cent Li 2 O, (Fi SW)

including: 12 m at 1.33 per cent Li2O

and including: 7 m at 1.42 per cent Li2O

YLP-0097: 23 m at 1.03 per cent Li 2 O, (Shorty)

including: 11 m at 1.69 per cent Li2O

and: 10 m at 0.84 per cent Li2O

including: 3 m at 1.73 per cent Li2O YLP-0088: 20 m at 1.52 per cent Li 2 O, (Shorty)

and: 6 m at 1.04 per cent Li2O

YLP-0104: 12 m at 1.58 per cent Li 2 O, (Ki) YLP-0096: 12 m at 1.38 per cent Li 2 O, (Ki)

and: 1 m at 1.13 per cent Li2O YLP-0110: 10 m at 1.13 per cent Li 2 O, (Ki)

including: 5 m at 1.51 per cent Li2O

and: 7 m at 1.00 per cent Li2O YLP-0065: 10 m at 1.16 per cent Li 2 O, (Shorty)

including: 6 m at 1.64 per cent Li2O

YLP-0095: 10 m at 0.92 per cent Li 2 O, (Fi SW)

Including: 4 m at 1.63 per cent Li2O

Discussion of Results This week's drill results are for eight holes from three different pegmatites, including Shorty (YLP-0065, 88, 97), Fi Southwest (YLP-0095, 102), and Ki (YLP-0096, 104, 110). A table of composite calculations, general comments related to these results, and a table of collar headers are provided towards the end of this section.

Figure 1 - Location of LIFT's Yellowknife Lithium Project. Drilling has been thus far focused on the Road Access Group of pegmatites which are located to the east of the city of Yellowknife along a government-maintained paved highway, as well as the Echo target in the Further Afield Group. Fi Southwest The Fi Southwest (SW) pegmatite is one of several dikes occurring within a north-of-northeast striking dike corridor. Drilling of Fi SW shows that it ranges from a single 20-40 m wide dike to 2-3 dikes of similar cumulative width within a 50-70 m wide corridor. The Fi SW dikes are visible for at least 1,100 m on surface and dips 60degree-80degree to the east-southeast. YLP-0095 was designed to test Fi SW just north of its mapped extent and 175 m vertically below the surface. Drilling intersected two 1-7 m wide dikes between 160 to 175 m hole depth followed by a 10 m wide dike starting at 225 m depth. The lower-most dike returned 0.92 per cent Li2O over 10 m, including 1.63 per cent Li2O over 4 m, whereas the upper two dikes returned negligible grade. These composites lie 50 m and 150 m downdip, respectively, of correlative dikes in YLP-0090 that returned negligible grade. YLP-0102 was collared 250 m south of YLP-0095 to test Fi SW pegmatite approximately 250 m from its northern end, 150 m vertically below the surface, and 100 m downdip of YLP-0042 (1.36 per cent Li2O over 11 m). Drilling intersected a single 29 m wide dike that returned a composite of 1.14 per cent Li2O over 26 m that includes an upper subinterval of 1.42 per cent Li2O over 7 m and a lower one of 1.33 per cent Li2O over 12 m (Table 1 & 2, Figures 2 & 3).

Shorty Pegmatite

The Shorty pegmatite is one of several dikes occurring within a broader north-of-northeast striking corridor. Drill intercepts of Shorty shows that it comprises a single 10-25 m wide dike or 2-4 dikes with a similar cumulative width spread over 40-95 m of core length. The pegmatite is visible for at least 700 m on surface and dips 50degree-70degree to the west-northwest.

YLP-0065 tested the Shorty pegmatite approximately 150 m from its southern end and 50 m vertically below the surface. Drilling intersected three pegmatites over 54 m of core length, comprising a 5 m wide upper dike, 11 m central one, and 1 m wide lower dike. Assay composites for the central dike returned 1.16 per cent Li2O over 10 m, including 1.64 per cent Li2O over 6 m, whereas the upper and lower dikes returned negligible grade.

YLP-0088 was designed to test Shorty approximately 150 m from its northern end, 50 m vertically beneath the surface, and 25 m downdip of previously reported YLP-0082 (1.07 per cent Li2O over 15 m). Drilling intersected three pegmatite dikes over 79 m of core length, comprising relatively wide upper (12 m) and lower (24 m) dikes separated by a 43 m interval of mostly country rock cut by a single 2 m wide pegmatite. Assays returned 1.52 per cent Li2O over 20 m for the lower dike, 1.04 per cent Li2O over 6 m for the upper one, and negligible results for the central 2 m wide dike.

YLP-0097 tested the Shorty pegmatite100 m from its northern mapped extent and 150 m vertically below the surface. Drilling intersected an upper dike that is 10 m wide and a lower one of 28 m that are separated by 56 m of country rock. Assay composites for the upper dike returned 0.84 per cent Li2O over 10 m, which includes 1.73 per cent Li2O over 3 m, whereas the lower dike returned 1.03 per cent Li2O over 23 m including 1.69 per cent Li2O over 11 m. These composites each lie 75-100 m downdip of two dikes intersected in previously released YLP-0091 (1.28 per cent Li2O over 17 m and 1.01 per cent Li2O over 16 m) (Table 1 and 2, Figures 4 & 5).

Ki pegmatite

The Ki pegmatite is one of several subparallel dikes that occur within a longer north-of-northwest trending corridor. Drill intercepts of Ki typically comprise a thick "main" dike flanked by one or more narrower (1-5 m wide) dikes. The Ki dike is visible for at least 1,000 m on surface and dips between 65degree-80degree to the southwest.

YLP-0096 tested Ki pegmatite approximately 300 m from its southeastern end, 50 m vertically beneath the surface, and 50 m downdip of previously reported YLP-0069 (0.96 per cent Li2O over 10 m). Drilling intersected a 19 m wide pegmatite dike flanked by two <3 m wide dikes on its' western side. The thick dike returned an assay composite of 1.38 per cent Li2O over 12 m whereas the nearest flanking dikes assayed 1.13 per cent Li2O over 1 m. The more distal flanking dike returned negligible grade.

YLP-0104 was designed to test the Ki pegmatite approximately 350 m from its northwestern mapped extent and 50 m vertically beneath the surface. Drilling intersected a 17 m wide main dike flanked by several 1-2 m wide pegmatites on either side. The main dike returned 1.58 per cent Li2O over 12 m whereas flanking dikes returned negligible grade.

YLP-0110 was collared 50 m southeast of YLP-0104 to test the Ki pegmatite about 400 m from its northwestern end and 50 m vertically beneath the surface. Drilling intersected 8 and 10 m wide pegmatite dikes separated by 6 m of country rock as well as a 1 m wide flanking dike. Assays returned 1.00 per cent Li2O over 7 m for the upper dike and 1.13 per cent Li2O over 10 m for the lower one, with the latter including 1.51 per cent Li2O over 5 m. The 1 m wide dike returned negligible grade (Table 1 and 2, Figures 6, 7 & 8).

 
  Table 1 - Assay highlights for drill holes reported in this press release.
 
 Hole No. From (m) To (m) Interval (m) Li2O per cent Dyke  
YLP0065     61      71        10      1.16  Shorty
     inc    62      68        6       1.64  Shorty
YLP0088     5       11        6       1.04  Shorty
     and    63      83        20      1.52  Shorty
YLP0095    225     235        10      0.92  Fi SW 
     inc   228     232        4       1.63  Fi SW 
YLP0096     43      44        1       1.13  Ki    
     and    70      82        12      1.38  Ki    
YLP0097    126     136        10      0.84  Shorty
     inc   129     132        3       1.73  Shorty
     and   193     216        23      1.03  Shorty
     inc   203     214        11      1.69  Shorty
YLP0102    170     196        26      1.14  Fi SW 
     inc   171     178        7       1.42  Fi SW 
 and inc   184     196        12      1.33  Fi SW 
YLP0104     57      69        12      1.58  Ki    
YLP0110     45      52        7       1.00  Ki    
     and    58      68        10      1.13  Ki    
     inc    58      63        5       1.51  Ki    


  

Drilling Progress Update

The Company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238 m completed. Currently, LIFT has reported results from 100 out of 198 diamond drill holes (17,624 m).

General Statements

All eight 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 65-100 per cent of the drilled widths. A collar header table is provided below.

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.

QAQC

All drill core samples were collected under the supervision of LIFT 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 LIFT's core logging facility to ALS Labs ("ALS") laboratory in Yellowknife, Northwest Territories.

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 2 mm (10 mesh) screen; a 1,000-gram sub-sample 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 sub-sample of the pulverized material was then dissolved in a sodium peroxide solution and analysed for lithium according to ALS method ME-ICP82b. Another 0.2-gram sub-sample of the pulverized material was analysed 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 LIFT's mineral properties has been reviewed and approved by Ron Voordouw, Ph.D., P.Geo., Partner, Director Geoscience, Equity Exploration Consultants Ltd., and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (Geologist Registration number: L5245).

LIFT Engages Ptolemy Capital Limited

LIFT announces that it has engaged Ptolemy Capital Limited ("PCL"), trading as Crux Investor ("Crux"), to provide distribution and dissemination of video content for the Company, as defined in accordance with the policies of the TSX Venture Exchange ("TSXV") and applicable securities laws. Pursuant to the agreement entered into with Crux, which is effective as of June 01, 2023 (the "Crux Agreement"), Crux will receive consideration of US$6,500/month, payable quarterly in advance, for an initial 6-month term which may be extended for additional 3-month periods.

Crux, a company based in London, United Kingdom, provides content distribution via videos, podcasts, social media and written articles. This includes dissemination and syndication across private and public investor platforms and services. To the best of LIFT's knowledge, neither Ptolemy, Crux, nor any of its principals hold any securities of Li-FT Power Ltd. The Crux Agreement is subject to the approval of the TSX Venture Exchange.

About LIFT

LIFT 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. LIFT 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.