Mr. Francis MacDonald reports

LIFT INTERSECTS 24 M AT 1.33% LI2O AT ITS ECHO PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has released assays from 17 drill holes completed at the Echo, Fi Main and Fi Southwest pegmatites within the Yellowknife lithium project, located outside the city of Yellowknife, NWT. Drilling intersected significant intervals of spodumene mineralization, with the following highlights:

Highlights:

• YLP-0259: 43 m at 0.85 per cent Li2O, (Echo)
  • including: 24 m at 1.33 per cent Li2O
• YLP-0212: 16 m at 1.29 per cent Li2O, (Echo)
  • and: 5 m at 1.36 per cent Li2O
  • and: 5 m at 1.19 per cent Li2O
  • and: 1 m at 0.68 per cent Li2O
• YLP-0237: 16 m at 1.31 per cent Li2O, (Fi Main)
• YLP-0234: 13 m at 1.32 per cent Li2O, (Echo)
• YLP-0228: 10 m at 1.36 per cent Li2O, (Echo)
• YLP-0235: 10 m at 1.25 per cent Li2O, (Echo)
• YLP-0229: 9 m at 1.28 per cent Li2O, (Fi Main)
  • and: 12 m at 0.54 per cent Li2O

Discussion of Results

This news release provides results for 17 drill holes (3,729 m) from Li-FT's ongoing 2024 winter drilling program. Seven holes are reported from the Echo pegmatite complex, eight holes from Fi Main, and two from Fi Southwest (Fi-SW). 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.

Dave Smithson, SVP, Geology of Li-FT comments, "The Echo Pegmatite System continues to deliver impressive grades and widths close to surface this week. Hole 259 is particularly significant as it extends spodumene mineralization another 100 m down-dip from 10 m of 1.29 per cent Li2O and 16 m of 1.26 per cent Li2O drilled in hole 216, last summer. Here, the dikes merge into a single 43 m-wide dike averaging 0.85 per cent Li2O (Inc. 24 m of 1.33 per cent Li2O), only 75 m from the surface. This new information confirms for the first time the low-angle nature of mineralization, emphasising the potential for Echo to deliver accessible tonnes and grades close to surface. We are very excited to see what happens next as we mobilise our drill rigs to test outward and downward from these first outstanding results."

Echo Pegmatite System

The Echo pegmatite complex comprises a fanning splay of moderate to gently dipping dikes for 0.5 km to the northwest ("Echo splay"). In addition, the Echo Splay is connected to a steeply dipping, northwest-trending, feeder dike ("Echo feeder"). The dike complex has a total strike length of over 1.0 km. The feeder dike is 10-15 m wide whereas the gently dipping dikes in the splay are thicker, ranging from 10-25 m.

Three (YLP-0259, 0212, 0220) holes were drilled on the Echo splay. YLP-0259 tested between the northeastern part of the splay approximately 150-200 m from where it merges, between 35-75 m below the surface, and stepped back 100 m and 150 m, respectively, from previously released drill holes YLP-0216 (1.35 per cent Li2O over 36 m from 3 intervals in 78 m) and YLP-0128 (0.94 per cent Li2O over 22 m from 2 intervals in 51 m). New drilling intersected a 43 m wide pegmatite that returned a wall-to-wall grade of 0.85 per cent Li2O that includes 24 m of 1.33 per cent Li2O. There is no drilling along strike to the northwest of this intersection (Table 1 & 2, Figures 2 & 3).

YLP-0212 was drilled to test the Echo splay approximately 250-300 m from its merge zone with the feeder, <25 m to 100 m below the surface, and stepped back of 50 m from previously released YLP-0205 (1.03 per cent Li2O over 23 m from 3 intervals in 56 m). Drilling cut a 141 m interval with 45 m of pegmatite spread over seven dikes ranging between 1-21 m in width. Four of the thicker (6-21 m) dikes returned spodumene-bearing intercepts that form a combined composite of 1.26 per cent Li2O over 27 m (Table 1 & 2, Figures 2 & 4).

Four of the seven holes reported here were drilled on the Echo feeder, with YLP-0228 designed to test the Echo feeder dike approximately 50 m southeast of where it merges with the splay, 25-50 m below the surface, as well as along strike and 50 m southeast of previously released YLP-0226 (1.45 per cent Li2O over 13 m). New drilling intersected a 14 m wide feeder dike that returned a composite of 1.36 per cent Li2O over 10 m (Table 1 & 2, Figures 2 & 5).

YLP-0234 was drilled along strike and 50 m southeast of holes YLP-0228/0230 to test the feeder at 25-50 m below the surface. New drilling intersected a 14 m wide pegmatite that returned a composite of 1.32 per cent Li2O over 13 m (Table 1 & 2, Figures 2 & 6).

YLP-0235 tested the Echo feeder dike another 50 m along strike and southeast of YLP-0234 with new drilling intersecting a 10 m wide pegmatite dike that returned a wall-to-wall composite of 1.25 per cent Li2O (Table 1 & 2, Figures 2 & 7).

YLP-0220 was collared in the area where the splay merges with the feeder dike and stepped forward 100 m from previous released YLP-0099 (0.62 per cent Li2O over 11 m). New drilling intersected a 124 m interval with 20 m of pegmatite spread over eight dikes between 1-9 m in depth. The thickest dike (9 m) occurs just below overburden and returned a wall-to-wall composite of 0.96 per cent Li2O with 5 m of 1.52 per cent Li2O (Table 1 & 2, Figure 2). YLP-0230 was drilled on the same section as YLP-0228 to test the Echo feeder at 75-100 m below the surface and 50 m downdip of YLP-0228 (see above). Drilling intersected mostly mafic dike where the feeder dike was expected in addition to a new pegmatite further down the hole, for 17 m of pegmatite within a 35 m interval. Assays returned no significant grades (Table 1 & 2, Figure 2).

Fi Main Pegmatite

The Fi Main pegmatite complex crops out over at least 1.5 km of strike length within a north-south striking corridor that dips between 70degree-85degree to the west. The central 800-900 m of the complex can be split into a northern part where most pegmatite occurs in a single 25-30 m thick dike and a southern part where this dike splits into upper and lower pegmatites that then remerge 450 m further south. The width of the Fi Main corridor ranges from 25-75 m where it is dominated by a single dike and between 75-150 m where it is split into two. Two (YLP-0237, 0214) holes were drilled where the Fi Main dike is split into an upper and lower zone, with YLP-0237 drilled to test the upper and lower pegmatites at 25 m and 100 m below the surface, respectively. This hole was collared along strike and 50 m south of previously released YLP-0013 (0.65 per cent Li2O over 14 m) and 50 m north of YLP-0018 (0.81 per cent Li2O over 19 m from two intervals, 59 m apart). New drilling intersected 13 pegmatite dikes over 199 m of drill core, with dikes ranging from 1-17 m in width and spaced between 5-20 m apart. The thickest of these correlates with the upper zone and returned a composite of 1.31 per cent Li2O over 16 m (Table 1 & 2, Figures 8 & 9).

YLP-0229 was drilled on a section located 50 m south of the section with YLP-0224. Drilling intersected a 109 m wide corridor with 46 m of pegmatite spread over seven dikes between 2-17 m in width. The two thickest dikes (9 m and 17 m) likely represent the remerging upper and lower pegmatites and returned a combined composite of 0.86 per cent Li2O over 21 m. Mineralization in this area is open at depth and to the south (Table 1 & 2, Figures 8 & 10).

Figure 10 - Cross-section illustrating YLP-0229 with results as shown in the Fi Main pegmatite dike with a 9 m interval of 1.28 per cent Li2O.

YLP-0214 was collared on a section 50 m north of YLP-0237 to test the upper and lower pegmatites at approximately 100-200 m beneath the surface. Previously released drilling on the same section returned 0.65 per cent Li2O over 14 m (YLP-0013) from 50 m below the surface but negligible results at 250 m depth (YLP-0022). New drilling aimed for an intermediate depth between these two holes, intersecting three swarms of pegmatite dikes each about 50-100 m apart and including an 83 m corridor with 31 m of pegmatite and a 29 m corridor with 25 m of pegmatite. All assays, however, returned negligible Li2O (Table 1 & 2, Figure 8).

YLP-0218 was collared near where the single thick Fi Main dike splits into the upper and lower pegmatites and on a section 100 m north of YLP-0214. Drilling was designed to test the Fi Main dike at 150 m beneath the surface as well as 75 m downdip of previously released YLP-0015 (1.00 per cent Li2O over 27 m) and 125 m downdip of YLP-0009 (0.49 per cent Li2O over 12 m). New drilling intersected a 23 m wide pegmatite at 150 m vertically beneath the surface but failed to return significant Li2O assays. A 3 m wide dike intersected 125 m outboard of the main dike returned 0.81 per cent Li2O over 1 m (Table 1 & 2, Figure 8).

Two (YLP-0224, 0229) of eight holes on the southern part of the split and upper and lower pegmatites, near where they merge back into a single narrower corridor. YLP-0224 was designed to test this corridor at 125-250 m below the surface and 75-100 m downdip of previously released YLP-0010 (0.72 per cent Li2O over 32 m from two intervals, 48 m apart). New drilling intersected three corridors of pegmatite dikes separated by 30-75 m of country rock, with the uppermost of these corridors comprising 16 m of pegmatite within a 23 m interval that returned a composite of 0.89 per cent Li2O over 10 m including 1.48 per cent Li2O over 4 m. The two lower corridors, which include the lower zone, include 9 m and 17 m of pegmatite that both average <0.1 per cent Li2O (Table 1 & 2, Figure 8).

Drill holes YLP-0225, 0227, and 0231 were all drilled at the north end of the Fi Main pegmatite complex where a single thick dike splits into several thinner dikes spread over a broader corridor ("north splay"). YLP-0225 was drilled on a section located 50 m north of previously released YLP-0024 (1.12 per cent Li2O over 24 m) to test the north splay at 25-75 m beneath the surface. Drilling intersected a 62 m corridor with 46 m of pegmatite spread over eight dikes that are each between 1-15 m in width. Six of these dikes returned wall-to-wall average grades between 0.1-0.3 per cent Li2O that, in the two thickest dikes, include one metre intervals of 0.5-0.6 per cent Li2O (Table 1 & 2, Figure 8).

YLP-0227 and 0231 were drilled on a section 50 m north of YLP-0225 to test the north splay at 75 m and 150 m beneath the surface, respectively. YLP-0227 intersected a 112 m wide corridor with 48 m of pegmatite spread over seven dikes between 1-23 m in width. Six of these dikes returned average grades of <=0.1 per cent Li2O whereas the thickest dike returned an average wall-to-wall grade of 0.2 per cent Li2O that includes 1 m of 0.51 per cent Li2O (Table 1 & 2, Figure 8).

YLP-0231 was drilled 50 m downdip of YLP-0227 and intersected a 69 m wide corridor with 56 m of pegmatite, most of which occurs in two pegmatite dikes that are 22 m and 32 m wide. The 22 m wide dike has an average wall-to-wall grade of 0.34 per cent Li2O that includes 10 m of 0.57 per cent Li2O. These results indicate that mineralization in the Fi Main pegmatite remains open towards the north and at depth (Table 1 & 2, Figure 8).

Fi Southwest Pegmatite

The Fi Southwest (Fi-SW) pegmatite complex is exposed over at least 1.1 km on surface and occurs within a broader corridor that is 50-100 m wide and dips between 60degree-80degree to the east. The complex is cored by a 20-40 m wide main dike that is continuous for at least 800 m along strike, with numerous sub-parallel subsidiary dikes between 1-5 m in width. At its northern and southern ends, the main dike splays out into a broader corridor with more dikes that have narrower widths. Holes YLP-0210 and YLP-0215 were both drilled as part of a 400 m long drill fence that tests the broad corridor stretching from the north tip of the Fi-SW dike to the Fi Main corridor located 350-400 m to the east. Previously released drilling on this fence returned 1.05 per cent Li2O over 11 m (YLP-0057) and barren pegmatite (YLP-0201). New drilling intersected four pegmatite corridors in YLP-0210 and five corridors in YLP-0215, each ranging from 1-50 m in width and containing between 1-20 m of pegmatite. All assays returned negligible Li2O (Table 1 & 2, Figure 11).

General Statements

All 17 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 through hyperspectral core scanning and X-ray diffraction work shows that a very high proportion of Li2O reports to spodumene, consistent with the strong correlation between Li2O per cent and abundance of hyper spectral spodumene.

QA/QC & 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 ("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 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 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 Li-FT'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).

About Li-FT

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.

We seek Safe Harbor.