Mr. Francis MacDonald reports

LI-FT ANNOUNCES START OF WINTER DRILL PROGRAM, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has commenced a winter diamond drill program at the Yellowknife lithium project. This 2024 winter drilling program aims to drill just over 100 holes for 18,600 metres on six of Li-FT's pegmatite prospects to build on the 34,200 metres of drilling across 198 holes that were completed in 2023.

Francis MacDonald, chief executive officer of Li-FT, commented: "We are excited to have the drills turning again for the winter program at our Yellowknife lithium project. This winter's program will focus on resource expansion, stepping outwards from spodumene mineralization defined in our summer 2023 program. Our intent for the 2024 winter program is to systematically drill off six of the spodumene pegmatites in our portfolio to 100 metres by 100-metre centres. The planned metreage is focused in areas that we feel will add the most tonnage for the least number of drilled metres."

Big-East pegmatite

Li-FT plans to drill 2,945 m over 16 diamond drill holes to vertical depths of up to 350 m at the Big-East pegmatite. At surface, the pegmatite occurs as a 1.8-kilometre-long, northeast-trending dike swarm up to 100 m wide. At approximately 75 m below surface, the swarm merges into a single 30-metre-wide feeder dike. Drilling across this structure in 2023 returned highlight intercepts of 28 m of 1.70 per cent Li2O (lithium oxide), 26 m of 1.56 per cent Li2O and 22 m of 1.35 per cent Li2O (see attached table). The 2024 drilling will focus on extending these grades and widths 450 m to the northeast, stepping out from 2023 results derived from one or two closely spaced dikes that returned 18 m of 1.75 per cent Li2O, 23 m of 1.33 per cent Li2O and 23 m of 1.17 per cent Li2O. The program will also test below the deepest parts of the spodumene system at the southwestern end of the dike and up to 350 m below the surface, where drill holes will step out below to test beneath the previously drilled 18 m of 1.79 per cent Li2O (hole YLP-0092) and 28 m of 1.19 per cent Li2O (hole YLP-0085).

Missing image: Li-FTjan291

Echo pegmatite

Li-FT plans to drill at the Echo pegmatite 8,390 m over 54 diamond drill holes, up to vertical depths of 250 m below the surface. This pegmatite comprises a steeply dipping, northwest-trending feeder dike that splits into a fanning splay of moderate to gently dipping dikes at its northwest end. The dike complex has a total strike length of over 1.0 km with individual dikes up to 25 m wide. Highlights from 2023 drilling, all of which were collared in the northwest splay, returned 12 m of 1.52 per cent Li2O, 13 m of 1.24 per cent Li2O and 10 m of 1.41 per cent Li2O (see attached table). The 2024 drill plan will test the most northwesterly part of the splay structure along 350 m of strike as well as the feeder dike along 550 m of strike to the southeast. Proposed holes on the splay structure will step out from 2023 holes that returned 13 m of 1.48 per cent Li2O and 11 m of 1.42 per cent Li2O and test mineralization to a vertical depth of 250 m. The feeder dike has not yet been drilled by Li-FT, while historical surface work suggests that it is approximately 10 m wide and contains 25 per cent to 30 per cent spodumene.

Missing image: Li-FTjan292

Fi-Main and Fi-Southwest pegmatites

Li-FT plans to drill 3,395 m over 18 diamond drill holes to vertical depths of up to 325 m at the Fi-Main and Fi-Southwest pegmatite dikes. The Fi-Main dike is located 250 m to the northeast of Fi-Southwest and crops out over a distance of 1.5 km. The structure dips steeply to the west and consists of two or more dikes that appear to coalesce toward the north. Highlights from 2023 drilling include 27 m of 1.26 per cent Li2O, 22 m of 1.53 per cent Li2O, 30 m of 1.13 per cent Li2O and 23 m of 1.33 per cent Li2O (see attached table). Drilling is planned to extend mineralization along 1.0 km of strike length to approximately 150 m vertically below surface. A second drill at the north end of the dike will focus on extending the mineralization another 325 m to the northeast to build on 2023 intersections of 24 m of 1.12 per cent Li2O and 27 m of 1.26 per cent Li2O.

Missing image: Li-FTjan293

The Fi-SW dike outcrops over 1.1 km on surface with an average outcropping width of approximately 20 m. The dike is steeply dipping to the east and trends toward the north-northeast. Drill highlights from 2023 include 79 m of 1.13 per cent Li2O in a downdip hole as well as holes drilled broadly normal to strike that returned 39 m of 1.43 per cent Li2O, 34 m of 1.35 per cent Li2O and 33 m of 1.39 per cent Li2O (see attached table). The 2024 proposed drilling will focus on a 250 m section at the northeast end of the pegmatite where infill holes are planned to step out from near-surface mineralized intersections of 15 m at 1.03 per cent Li2O and 11 m of 1.36 per cent Li2O. The remaining holes will aim to expand the deepest parts of the spodumene system to a depth of 325 m from surface, stepping out from 10 m of 0.98 per cent Li2O and four m of 1.63 per cent Li2O.

Missing image: Li-FTjan294

Ki and Shorty pegmatites

Li-FT plans to drill 3,860 m over 21 diamond drill holes and up to vertical depths of 250 m below the surface on the Ki and Shorty pegmatite dikes. The Ki pegmatite is a north-northwest-trending corridor of dikes that extends for over 1.0 km on surface and dips steeply to the southwest. The corridor consists of between one to five dikes with a similar total pegmatite thickness of up to 25 m. Highlight holes from 2023 drilling include 21 m of 1.12 per cent Li2O, 14 m of 1.50 per cent Li2O, 12 m of 1.58 per cent Li2O and 13 m of 1.27 per cent Li2O (see attached table). The 2024 drill plan will test an additional 500 m of strike length on the corridor stepping out from some of the best 2023 drilling results, including holes YLP-0098 and YLP-0080.

Missing image: Li-FTjan295

The Shorty pegmatite, located about five kilometres south of Ki, consists of three, 20-metre-wide en echelon dikes that dip steeply to the west-northwest. They can be traced on surface for over 700 m and host spodumene mineralization to at least 250 m below the surface. Highlights from 2023 drilling include 20 m of 1.52 per cent Li2O, 16 m of 1.76 per cent Li2O and 25 m of 1.13 per cent Li2O (see attached table). Two holes are planned at the northeast end of the pegmatite to complete the last drill fence in this direction. These holes will test for mineralization down to 150 m below surface that offsets from a near-surface intercept of 10 m at 1.75 per cent Li2O. At the south end of the dike, additional holes are planned to extend near-surface intersections, The remaining hole in the far south will infill more shallow mineralization offsetting from 10 m of 1.16 per cent Li2O.

Missing image: Li-FTjan296

Quality assurance 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 in order 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 a two-millimetre (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 a 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 Dr. Ron Voordouw, PhD, PGeo, partner, director of geoscience, Equity Exploration Consultants Ltd., and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and a member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (geologist registration No.: L5245).

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. 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 Northwest Territories within the Little Nahanni pegmatite group.

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