Mr. Francis MacDonald reports

LIFT INTERSECTS 14 M AT 1.55% LI2O AT ITS ECHO PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has released assays from eight drill holes completed at the Echo, Fi Main, Fi Southwest and Nite 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-0223 -- 14 metres at 1.55 per cent Li2O (Echo);
• YLP-0226 -- 13 metres at 1.45 per cent Li2O (Echo);
• YLP-0217 -- 10 metres at 0.93 per cent Li2O (Echo) and two metres at 0.63 per cent Li2O;
• YLP-0219 -- nine metres at 0.97 per cent Li2O (Fi Main).

Discussion of results

This news release provides results for eight drill holes (1,916 metres), six of which are from continuing 2024 winter drilling and two from the 2023 program. Three holes are reported from the Echo pegmatite, two each on Fi Southwest and Nite and one from Fi Main. A table of composite calculations and general comments related to this discussion are provided herein.

Dave Smithson, senior vice-president, geology, of Li-FT, commented: "We are pleased to see the first results from the southeast end of the Echo pegmatite system, where holes 223 and 226 intercepted strong shallow spodumene mineralization averaging 1.55 per cent Li2O over 14 metres and 1.45 per cent Li2O over 13 metres, respectively. Geological mapping at this portion of the Echo pegmatite system in 2023 reveals that there is still an additional 500 metres of strike length of spodumene-bearing pegmatite that remains untested for follow-up drilling, and so we are very excited to build these initial results by testing the remainder of the dike to the southeast, to a depth of 250 metres from surface."

Echo pegmatite system

The Echo pegmatite complex comprises a fanning splay of moderate to gently dipping dikes for 0.5 kilometre to the northwest (Echo splay), apparently sourced from a steeply dipping, northwest-trending, feeder dike (Echo feeder). The dike complex has a total strike length of over 1.0 kilometre. The feeder dike is 10 metres to 15 metres wide whereas the gently dipping dikes in the splay are thicker, ranging from 10 metres to 25 metres wide. The holes in this news release were drilled into both the Echo splay and Echo feeder dike.

YLP-0223 is the first hole reported from the Echo feeder dike and was drilled to test 250 metres from its northern mapped extent and 25 metres below the surface. Drilling intersected a single 15-metre-wide pegmatite dike that returned an assay composite of 1.55 per cent Li2O over 14 metres (see attached table).

YLP-0226 was collared 50 metres south of YLP-0223 to test the Echo feeder 300 metres from its northern mapped extent and 25 metres below the surface. Drilling intersected a 41-metre corridor with 32 metres of pegmatite, including a 19-metre-wide dike that yielded a composite of 1.45 per cent Li2O over 13 metres (see attached table).

YLP-0217 was collared 100 metres northwest of the Echo feeder to test the Echo splay about 400 metres from its northwest mapped extent, less than 25 metres to 100 metres below the surface and on section with previously released YLP-0124 (1.52 per cent Li2O over 12 metres). Drilling intersected a shallow-dipping, 79-metre-wide interval with 29 metres of pegmatite spread over a 14-metre-wide dike and five others between one metre and seven metres in width. Two of these dikes, spaced 25 metres to 30 metres apart, combine to form a composite of 0.88 per cent Li2O over 12 metres (see attached table).

Fi Main pegmatite

The Fi Main pegmatite complex crops out over at least 1.5 kilometres of strike length within a north-south-striking corridor that dips between 70 degrees to 85 degrees to the west. The central stretch of the complex consists of a 25-metre-to-30-metre-thick dike that is flanked by one or more less-than-five-metre-wide dikes within a 25-metre-to-75-metre-wide corridor. This thick dike splits to the north and south to form a wider corridor (75 metres to 150 metres) that hosts a similar volume of pegmatite spread over more and generally narrower dikes. YLP-0219 was drilled to test the southern part of the Fi Main pegmatite at 150 metres to 250 metres below the surface. Previously released drill holes that returned on-section intersections of upper pegmatite include YLP-0008 (0.89 per cent Li2O over 20 metres; 25-metre depth) and YLP-0014 (0.74 per cent Li2O over 23 metres; 50 metres). New drilling that targeted 150 metres beneath the surface intersected a 23-metre upper corridor with 17 metres of pegmatite grading 0.97 per cent Li2O over nine metres. Previous on-section intersections of lower pegmatite include 0.91 per cent Li2O over 15 metres at 75 metres depth (YLP-0008) and negligible grade at 100 metres depth (YLP-0014). New drilling intersected a 20-metre-wide lower corridor with 13 metres of pegmatite that returned negligible grade (see attached table).

Fi Southwest pegmatite

The Fi Southwest (Fi-SW) pegmatite complex is exposed over at least 1.1 kilometres on surface and occurs within a broader corridor that is 50 metres to 100 metres wide and dips between 60 degrees to 80 degrees to the east. The complex is cored by a 20-metre-to-40-metre-wide main dike that is continuous for at least 800 metres along strike, with numerous subparallel subsidiary dikes between one metre and five metres in width. At its northern and southern ends, the main dike splays out into a broader corridor with more dikes that have narrower widths. YLP-0201 and YLP-0206 both tested the northern splay.

YLP-0201 was drilled on a section 150 metres beyond the mapped northern extent of the main dike to test at 50 metres below the surface. Drilling intersected a 63-metre-wide corridor with seven metres of pegmatite spread over two dikes, neither of which returned significant grade.

YLP-0206 was collared on a section 100 metres south of YLP-0201 to test at 250 metres below the surface and just beyond the mapped northern tip of the main dike. Previously released drilling on this section returned 1.03 per cent Li2O over 24 metres from 50 metres to 100 metres depth (YLP-0051), 1.32 per cent Li2O over 14 metres from 125 metres to 150 metres (YLP-0075) and 1.06 per cent Li2O over 16 metres from 150 metres to 175 metres depth (YLP-0081). New drilling intersected a 24-metre-wide corridor with 19 metres of pegmatite that assayed negligible grade (see attached table).

Nite pegmatite

The Nite pegmatite complex is exposed along 1.4 kilometres of strike length as a swarm of parallel-trending dikes that occur within a north-northeast-striking corridor dipping approximately 50 degrees to 70 degrees to the east. The northern part of this complex consists of a five-metre-to-15-metre-thick dike flanked by one or more one-metre-to-five-metre dikes whereas the southern part comprises a fanning splay of five to 10 thin dikes within a 200-metre-wide corridor.

YLP-0194 was drilled to test the main pegmatite at 400 metres from its northern mapped extent and 200 metres to 225 metres below the surface. Previous drilling on the same section returned 1.24 per cent Li2O over five metres from 50 metres depth (YLP-0152) and 0.87 per cent Li2O over six metres from 150 metres (YLP-0192). New drilling intersected a 20-metre-wide corridor with 13 metres of pegmatite that returned negligible grade.

YLP-0197 was collared on a section 200 metres south of YLP-0194 to test the Nite main pegmatite at 250 metres below the surface. Previously released drilling on the same section returned 0.58 per cent Li2O over 17 metres from 50 metres depth (YLP-0196) and 0.81 per cent Li2O over 13 metres from 150 metres (YLP-0198). New drilling intersected a 44-metre-wide corridor with 22 metres of pegmatite that returned negligible grade (see attached table).

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 per cent to 100 per cent of the drilled widths.

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.

Quality assurance/quality control 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's 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 quality assurance/quality control screening at the lab; and 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, 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) (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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