Mr. Francis MacDonald reports

LIFT INTERSECTS 13 M AT 1.24 per cent LI2O AT ITS ECHO PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has released assays from eight drill holes completed at the Echo, Shorty, Fi-SW, Ki and Big East 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-0107: 13 m at 1.24 per cent Li2O, (Echo)
  • and: 5 m at 0.62 per cent Li2O
  • and: 2 m at 0.76 per cent Li2O
• YLP-0101: 13 m at 1.28 per cent Li2O, (Big East)
  • and: 5 m at 1.30 per cent Li2O
  • and: 2 m at 0.59 per cent Li2O
• YLP-0098: 13 m at 1.27 per cent Li2O, (Ki)
  • and: 5 m at 0.63 per cent Li2O
  • including: 2 m at 1.25 per cent Li2O
• YLP-0094: 11 m at 1.38 per cent Li2O, (Shorty)

Francis MacDonald, CEO of LIFT comments, "The first drill results from our Echo target have been a positive surprise. Our model at the time indicated that the pegmatites were steeply dipping. What we discovered after drilling the first hole was that there are three separate pegmatite bodies that are shallowly dipping at depth. This geometry is very favorable for mining. We look forward to releasing additional drill results from Echo and to continue drill-testing this target in the upcoming drill program which is scheduled to start in January 2024."

Discussion of Results

This week's drill results include the first two holes drilled on the Echo pegmatite (YLP-0099, 107) as well as six holes split among the Shorty (YLP-0094, 103), Ki (YLP-0098), Big East (YLP-0100, YLP-0101), and Fi Southwest (YLP-0105) pegmatites. A table of composite calculations, general comments related to this discussion, and a table of collar headers are provided towards the end of this section.

Echo Pegmatite

The Echo pegmatite complex, located in the "Further Afield Group" in the map above (Figure 1) is broadly north-of-northwest to northwest trending and ranges from a single dike in the southeastern end to multiple dikes over a 400 m wide corridor in the northwest. Individual dikes range from gently to steeply east dipping and are up to 25 m wide.

YLP-0099 tested the eastern-most Echo pegmatite approximately 200 m from its northern mapped extent and 25 m vertically beneath the surface. Drilling intersected two pegmatites, the first spanning 13 m starting at 4 m core depth as well as a 1 m wide dike 17 m further down the hole. Assay composites for the upper dike returned 0.62 per cent Li2O over 11 m with two subintervals of ~1.0 per cent Li2O over 2-4 m core lengths. The lower dike returned negligible grade.

YLP-0107 was drilled on a different part of the Echo swarm from YLP-0099, testing a dike approximately 200 m from its northwestern mapped extent and 50 m vertically below the surface. Drilling intersected four, 1-16 m wide, pegmatites, with the two uppermost dikes comprising a cumulative 24 m of pegmatite over 51 m of core. Assays returned composites of 1.24 per cent Li2O over 13 m for the lower of these two dikes as well as 0.62 per cent Li2O over 5 m for the upper one. The two deeper dikes are 1-2 m wide, occur at least 40 m downhole of the upper two, and returned up to 0.76 per cent Li2O over 2 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 show 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-0094 tested the Shorty pegmatite just 100 m from its northern mapped extent and 50 vertical metres below the surface, as well as 50 and 150 m up-dip, respectively, from previously released YLP-0091 (1.01 per cent Li2O over 16 m) and YLP-0097 (1.69 per cent Li2O over 11 m). Drilling intersected 13 m of pegmatite from 51-64 m core depth that includes a composite of 1.38 per cent Li2O over 11 m. A 1 m wide dike intersected ~37 m higher up in the hole returned negligible grade.

YLP-0103 was designed to test the Shorty pegmatite approximately 200 m from its northern mapped extent, 150 m vertically below the surface, and 100 m downdip of previously released YLP-0033 (1.50 per cent Li2O over 16 m). Drilling intersected a 28 m wide interval comprising five 2-9 m wide pegmatite segments split by 1-3 m wide panels of country rock. Assays returned 0.67 per cent Li2O over 18 m with subintervals of 1.1-1.3 per cent Li2O over 3-4 m (Table 1 and 2, Figure 4).

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 mostly comprise of a thick "main" dike flanked by one or more narrower (1-5 m wide) dikes although, in places, it comprises 2-6 dikes of similar cumulative thickness spread over up to 80 m of core length. The Ki dike is visible for at least 1,000 m on surface and dips between 65degree-80degree to the southwest. YLP-0098 tested the Ki pegmatite approximately 150 m from its known northwestern end, 50 m vertically beneath the surface, and 50 m downdip of previously reported YLP-0080 (1.50 per cent Li2O over 14 m). Drilling intersected six, 1-16 m wide, dikes over 80 m of core length, for cumulative pegmatite thickness of 28 m. The two widest dikes returned assay composites of 1.27 per cent Li2O over 13 m and 1.25 per cent Li2O over 2 m whereas the remaining two dikes are each 1-2 m wide and returned negligible grade (Table 1 and 2, Figures 5 & 6).

Big East Pegmatite

The Big East pegmatite swarm comprises a 35-90 m wide corridor of parallel-trending dikes that dips around 55degree-75degree degrees west and extends for at least 1,300 m along surface and 200 m downdip.

YLP-0100 was designed to test the Big East swarm approximately 500 m from its northern end and 300 m vertically beneath the surface, as well as 300, 250, and 150 m downdip, respectively, of YLP-0052 (1.27 per cent Li2O over 15 m), YLP-0032 (1.04 per cent Li2O over 18 m), and YLP-0093 (1.40 per cent Li2O over 21 m). Drilling intersected two pegmatite dikes over 44 m of core length with a cumulative pegmatite width of 40 m. Assays are mostly negligible, however, with the best interval returning 1.17 per cent Li2O over 1 m.

YLP-0101 tested the Big East swarm approximately 500 m from its southern end, 100 m vertically below the surface, and 50-100 m downdip of YLP-0068 drilled along the same azimuth (1.02 per cent Li2O over 26 m). Drilling intersected five, 1-14 m wide, pegmatites over 65 m of core length, for cumulative pegmatite width of 25 m. The central dike is thickest and returned 1.28 per cent Li2O over 13 m, the upper-most dike returned 1.30 per cent Li2O over 5 m, and the second deepest dike assayed 0.59 per cent Li2O over 2 m. The two remaining dikes returned negligible grade (Table 1 and 2, Figures 7 & 8).

Fi Southwest

The Fi Southwest (SW) pegmatite is one of several dikes occurring within a north-of-northeast striking dike corridor. Drilling at 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, with drilling date showing at least 150 m of downdip continuity along 550 m of strike.

YLP-0105 tested the Fi SW pegmatite approximately 500 m from its southern end and 250 m vertically below the surface, as well as 100 m and 200 m downdip, respectively, of YLP-0002 (0.34 per cent Li2O over 34 m) and YLP-0003 (1.43 per cent Li2O over 39 m). Drilling intersected seven, 3-13 m wide, pegmatites over 86 m of core length, for cumulative pegmatite total of 50 m, in addition to two more dikes scattered further up the hole. All nine dikes returned negligible grade (Table 1 and 2, Figure 9).

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 108 out of 198 diamond drill holes (19,034 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 rifle 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 Launches YouTube Channel

LIFT announces that it has launched its very own YouTube channel. The channel will act as a hub for all LIFT video content from interviews to project footage. Shareholders can keep up to date with everything LIFT related on the Company website or this channel.

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.

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