Mr. Francis MacDonald reports

LIFT INTERSECTS 27 M AT 1.26% LI2O AND 22 M AT 1.53% LI2O AT ITS FI MAIN PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has released assays from eight drill holes completed at the Big West, Nite and Fi Main pegmatites within the Yellowknife lithium project (YLP) located outside the city of Yellowknife, NWT. Drilling intersected significant intervals of spodumene mineralization, with the following highlights:

Highlights:

• YLP-0141: 27 m at 1.26% Li 2 O, (Fi Main)
• YLP-0147: 22 m at 1.53% Li 2 O, (Fi Main)
• YLP-0142: 10 m at 1.47% Li 2 O, (Nite)
• YLP-0140: 5 m at 1.14% Li 2 O, (BIG-West)

David Smithson, SVP, Geology of LIFT comments, "The impressive near-surface high grade intercepts at Fi-Main confirm for the first time that grades and widths are improving to the North on the Fi-Main structure - We are very excited to get the drills back to this structure in the upcoming 2024 winter drill program to confirm how far, and to what depths these grades extend. The first holes into the southwest end of Nite have been equally impressive and are also very important as they show us that the grades and widths are also improving on the Nite structure as we move to the south - last summer we identified numerous dikes trending outward in this direction and so we are very excited to test these new zones for more grade and even better widths in 2024."

Discussion of Results

This week's drill results are for eight holes drilled on three different pegmatite complexes, including Fi Main (YLP-0141, 0147), Nite (YLP-0142), and BIG West (YLP-0140, 0143, 0144, 0146, 0156). 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.

Fi Main Pegmatite

The Fi Main pegmatite comprises a 10-100 m wide corridor of 1-5 dikes that dip between 70degree-85degree to the west-northwest and extends for at least 1,500 m on surface.

YLP-0141 tested the Fi Main pegmatite approximately 400 m from its northern mapped extent and 50 m vertically beneath the surface. Drilling at this site intersected a single 30 m wide pegmatite dike that returned an assay composite of 1.26% Li2O over 27 m.

YLP-0147 was collared 200 m north of YLP-0141 to test the Fi Main pegmatite approximately 200 m from its mapped northern extent and 50 m vertically beneath the surface. Drilling intersected five pegmatite dikes over 83 m of core length, including a 28 m wide dike and four 1-3 m wide dikes for a cumulative pegmatite width of 36 m. The thick dike returned an assay composite of 1.53% Li2O over 22 m whereas the four thin dikes returned negligible grade (Table 1 and 2, Figures 2, 3 & 4).

Nite Pegmatite

The Nite pegmatite complex comprises a north-northeast trending corridor of parallel-trending dikes that is exposed for at least 1,400 m of strike length, ranges from 10-200 m wide, and dips approximately 50degree-70degree degrees to the east.

YLP-0142 was designed to test the Nite pegmatite approximately 650 m from its southern mapped extent at 50 m vertically beneath the surface. Drilling intersected seven pegmatite dikes over 83 m of core length, comprising a 12 m wide dike in addition to six 1-5 m wide dikes for cumulative pegmatite width of 29 m. The wider dike returned an assay composite of 1.47% Li2O over 10 m whereas all six thinner dikes returned negligible grade (Table 1 & 2, Figures 5 & 6).

BIG West Pegmatite

The BIG West pegmatite complex comprises a northeast-trending corridor of parallel-trending dikes that is exposed for at least 1,500 m along strike and is steeply west dipping to subvertical. The complex is bound by two relatively continuous dikes that are approximately 50-100 m apart in the northern part of the complex and just under 150 m apart in the southern part. To facilitate description for drilling in the southern part of the complex, these dikes are referred to as the east bounding (EB) and west bounding (WB) dikes.

YLP-0140 tested the BIG West pegmatite (both EB and WB) approximately 450 m from its northern mapped extent and 25-50 m vertically below the surface. Drilling intersected five pegmatite dikes over 64 m of drill core, including a 16 m thick dike and four 1-7 m wide dikes for cumulative pegmatite width of 31 m. One 7 m wide dike returned a composite of 1.14% Li2O over 5 m whereas the other four, including the 16 m thick dike, returned wall-to-wall composites averaging 0.1-0.2% Li2O.

YLP-0143 was designed to test the EB dike approximately 100 m from its southern mapped extent and 50 m vertically beneath the surface. Drilling intersected a single 5 m wide pegmatite that returned negligible grade.

YLP-0146 was collared 50 m north of YLP-043 to test the EB dike approximately 150 m from its southern mapped extent and 50 m vertically beneath the surface. Drilling intersected a 13 m wide pegmatite that returned an assay composite of 0.52% Li2O over 12 m, including 0.85% Li2O over 3 m.

YLP-0144 was drilled to test the WB dike approximately 250 m from its southern mapped extent as well as 50 m vertically beneath the surface. The hole was abandoned 40 m above its target depth and so no pegmatite was intersected, and no samples were taken.

YLP-0156 was collared 100 m north of YLP-0144 to test the WB dike approximately 350 m from its southern mapped extent and 50 m vertically beneath the surface. Drilling intersected four dikes over 44 m of core length, with all four ranging between 2-8 m in width for cumulative total of 20 m. Two of these dikes returned assay composites of 0.52% Li2O over 3 m and 0.61% Li2O over 3 m; the other two returned average grades of 0.1-0.2% Li2O (Table 1 and 2, Figure 7).

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 148 out of 198 diamond drill holes (26,083 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% 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.

QA/QC & Core Sampling Protocols

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% 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% 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 Receives Approval to Amend Land Use Permit & Water Licenses for the Yellowknife Lithium Project

LIFT is pleased to announce that it received approval for amendments to its Land Use Permit and Water licenses for the Yellowknife Lithium Project on December 12, 2023. The amendments allow LIFT to build a winter road from the Echo area to the all-season road that connects to Yellowknife, effectively creating an option for a road-based link between Echo to the global market. The amendment also allows LIFT to use additional water sources, enabling the Company to drill on all the leases associated with its Yellowknife Lithium Project.

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.