Mr. Francis MacDonald reports

LIFT INTERSECTS 19 M AT 1.31 per cent LI2O AT ITS FI SOUTHWEST PEGMATITE & 23 M AT 1.03 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 Fi Southwest, BIG West, Nite and Echo 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-0200: 19 metres (m) at 1.31 per cent lithium oxide (Li2O) (Fi Southwest);
• YLP-0203: 13 m at 1.24 per cent Li2O (Echo):
  • And one m at 0.51 per cent Li2O;
• YLP-0205: eight m at 1.39 per cent Li2O (Echo):
  • And seven m at 0.96 per cent Li2O;
  • And eight m at 0.73 per cent Li2O;
• YLP-0198: three m at 1.13 per cent Li2O (Nite):
  • And 10 m at 0.72 per cent Li2O;
  • Including three m at 1.20 per cent Li2O;
• YLP-0188: one m at 1.02 per cent Li2O (BIG West).

Discussion of results

This news release provides results for eight holes drilled for 1,116 m as part of the 2024 and 2023 exploration programs. These results include holes drilled on the Fi Southwest, Nite, Echo and BIG West pegmatite complexes. A table of composite calculations, general comments related to this discussion and a table of collar headers are provided in this news release.

Dave Smithson, senior vice-president, geology, of Li-FT comments: "The Fi Southwest continues to return robust intercepts of mineralization with hole 203 drilling 19 m at 1.31 per cent Li2O. Drilling on the Fi Southwest has defined 900 m of shallow mineralization to date, so we are very excited to continue to step out from these numbers to depth. Drilling at the northwest end of Echo also continued to return grade and width this week with hole 200 returning an impressive 13 m of 1.2 per cent Li2O, 350 m from 13 m of 1.24 per cent Li2O, 13 m of 1.48 per cent Li2O and 11 m of 1.42 per cent Li2O drilled in 2023."

The Fi SW dike strikes over at least 1.1 kilometre (km) on surface with an average outcropping width of approximately 20 m. The dike dips between 60 degrees to 80 degrees to the east-southeast and trends toward the north-northeast. Drilling of Fi SW show that it ranges from a single 20-metre-wide to 40-metre-wide dike to two to three dikes of similar cumulative width within a 50-metre-wide to 70-metre-wide corridor.

YLP-0200 tested the Fi SW pegmatite approximately 250 m from its northern mapped extent and 50 m below the surface and in between sections located 50 m north and 50 m south that, from 2023 drilling, returned intersections of 1.0 to 1.5 per cent Li2O over 20 to 25 m to approximately 200 m depth. New drilling intersected a single 26 m pegmatite that returned 1.31 per cent Li2O over 19 m.

Echo pegmatite

The Echo pegmatite complex 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 one km with individual dikes up to 25 m wide. The holes described below were collared on the fanning splay part of the complex that consists of several subparallel moderate to shallow dipping dikes.

YLP-0202 tested the northwestern fanning splay of the Echo complex, within 100 m of its mapped extent, less than 25 m below the surface, as well as 50 and 100 m along strike from YLP-0203 and 0205 respectively (see below) and 200 m along strike from previously released YLP-0128 (1.24 per cent Li2O over 10 m and 0.69 per cent Li2O over 12 m). Drilling intersected a 10-metre dike flanked by one-metre-wide to three-metre-wide dikes for cumulative 14 m pegmatite over 25 m of core. Assays returned composites of 0.90 per cent Li2O over three m and 0.50 per cent Li2O over seven m, the latter including a two-metre interval that returned 1.32 per cent Li2O.

YLP-0203 was collared 50 m east of YLP-0202 to test the same dike system at 25 to 50 m below the surface. Drilling intersected a 15-metre dike and a 10-metre dike separated by 16 m of country rock, with the upper and thickest dike returning an assay composite of 1.24 per cent Li2O over 13 m. The lower dike returned a wall-to-wall composite of 0.21 per cent Li2O over 10 m that includes one metre of 0.51 per cent Li2O.

YLP-0205 was collared halfway between YLP-0202 and YLP-0128 to test the Echo dike fan at 50 m beneath the surface. Drilling intersected two clusters of dikes that are separated by approximately 20 m of country rock; the upper group consists of four dikes between two to eight m in width for cumulative 25 m of pegmatite in 56 m of core whereas the lower group consists of two dikes that are each two metres wide and separated by six m of country rock. Assays from the upper group of dikes returned composites of 1.39 per cent Li2O over 8 m, 0.96 per cent Li2O over seven m and 0.73 per cent Li2O over eight m for a combined 23 m of pegmatite at 1.03 per cent Li2O. The lower group returned negligible grades.

Nite pegmatite

The Nite pegmatite complex comprises a north-northeast-trending corridor of parallel-trending dikes that is exposed for at least 1.4 km of strike length and dips approximately 50 degrees to 70 degrees to the east. The northern part of this complex consists of a main dike flanked by one or more thinner dikes whereas the southern part comprises a fanning splay of five to 10 thinner dikes that is up to 200 m wide.

YLP-0193 explored the Nite pegmatite approximately 700 m from its northern end and 150 m beneath the surface, as well as 100 m downdip of previously released YLP-0138 (1.51 per cent Li2O over 12 m) and 100 m updip of YLP-0195 (1 per cent Li2O over 15 m). Drilling intersected two groups of dikes separated by 30 m of country rock; an upper group of two dikes summing to six m of pegmatite over nine m of core and a lower group of five dikes totalling 24 m of pegmatite over 44 m. Notable assays were returned for three of five dikes in the lower group, including 1.01 per cent Li2O over eight m, 0.72 per cent Li2O over one m and 0.56 per cent Li2O over one m.

YLP-0196 was drilled on a section 100 m north of YLP-0193 to test the Nite pegmatite 50 m beneath the surface and 100 m updip of YLP-0198 (described below). Drilling intersected three dikes between five to 10 m in width for cumulative 21 m of pegmatite over 40 m of drill core. The uppermost and widest of these dikes returned 0.51 per cent Li2O over 10 m that includes two higher-grade intervals of 1.0 to 1.1 per cent Li2O over 2 m. The two lower dikes returned 0.70 per cent Li2O over six m (including 1.12 per cent Li2O over 3 m) and 0.59 per cent Li2O over one m.

YLP-0198 was drilled 100 m downdip of YLP-0196 (see above) and intersected three two-metre-wide to 10-metre-wide dikes spaced eight to 11 m apart for cumulative 22 m of pegmatite over 38 m of core. The two lower dikes each returned composites of 0.4 to 0.7 per cent Li2O over 10 m that also each includes a three-metre interval of 1.1 to 1.2 per cent Li2O.

BIG West pegmatite

The BIG West pegmatite complex comprises a northeast-trending corridor of parallel-trending dikes that is exposed for at least 1.5 km along strike and is steeply west dipping to subvertical. The complex is bound by two relatively continuous dike structures that are 50 to 100 m apart in the northern half of the corridor and 150 m apart in the south. These dikes are here referred to as the east-bounding (EB) and west-bounding (WB) dikes. Three of the holes reported here are the most northerly drilled on this complex.

YLP-0188 was collared on the transition between more widely and closely spaced EB and WB dikes, approximately 600 m from the southern mapped extent of the BIG West complex. Drilling was designed to test the BIG West corridor at 50 to 100 m beneath the surface and intersected three groups of one-metre-wide to nine-metre-wide pegmatite spaced 29 to 36 m apart. Assay results are generally negligible except a sample from one of the middle group dikes that returned 1.02 per cent Li2O over one m.

General statements

All eight 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. A collar header table is provided in this news release.

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 (quality assurance/quality control) and 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 the company'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 the company's mineral properties has been reviewed and approved by Ron Voordouw, PhD, PGeo, partner, director geoscience, Equity Exploration Consultants Ltd., 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. 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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