Mr. Francis MacDonald reports

RELEASE CONDITIONS FOR RENARD OPTION SATISFIED

Further to Li-FT Power Ltd.'s news releases dated June 24, 2026, and July 14, 2026, authorization has been received from the Ministere des Ressources naturelles et des Forets (MRNF) for the postponement of rehabilitation and restoration work at the Renard mining site until June 23, 2028. The MRNF authorization was the sole remaining condition for the release of a $12-million fee in cash paid pursuant to the binding call option agreement dated June 23, 2026, with Stornoway Diamonds (Canada) Inc., 11272420 Canada Inc. and Deloitte Restructuring Inc. (the monitor), in its capacity as monitor in the CCAA (Companies' Creditors Arrangement Act) proceedings. The monitor will now release the option fee to secured creditors in accordance with the order issued by the Superior Court of Quebec, which approved the option agreement.

As previously announced, pursuant to the option agreement, Li-FT is granted the sole and exclusive call option to acquire, at its election, the assets comprising the Renard diamond mine, processing facility and associated infrastructure or all of the issued shares in the capital of Stornoway (the 100-per-cent owner of Renard) or 1127 Canada (the 100-per-cent owner of Stornoway). A summary of the terms of the transaction follows.

Transaction terms:

• Li-FT may exercise the option for $1 at any time during a two-year period ending June 23, 2028, unless extended by the parties.
• The option period will be used to confirm the technical, economic, environmental and social feasibility of repurposing Renard for lithium processing, to determine the optimal transaction structure, and to negotiate definitive acquisition agreements.
• During the option period, Li-FT is solely responsible for care and maintenance (C&M) costs to maintain the Renard mine site in good order (estimated at $18-million annually), and, should Li-FT decide to exercise the Option, Li-FT will assume full responsibility for closure and remediation of the Renard mine site. In connection with the satisfaction of the release condition resulting from the MRNF authorization, Li-FT has advanced $18-million to the monitor, which will administer and disburse such funds in accordance with a care and maintenance budget reviewed by Li-FT.

Should Li-FT determine to exercise the option, the acquisition of Renard remains subject to negotiation and execution of an acquisition agreement as outlined in the option agreement, court approval of the acquisition agreement and receipt by Li-FT of all required regulatory approvals associated with the transaction, including that prior approval of the TSX Venture Exchange is required for any material changes to the proposed acquisition agreement terms from those outlined in the option agreement.

Li-FT engages i2i Marketing Group LLC

The company further announces that it has engaged i2i Marketing Group to provide corporate marketing and investor awareness services, including content creation management, author sourcing, project management and media/print distribution. Under the agreement, Li-FT will provide a minimum initial creation and media budget of $1.4-million (U.S.), payable in cash and non-refundable upon execution in several installments for a term commencing on Oct. 5, 2026, until the budget has been fully expended. The agreement permits either party to terminate on 10 days of written notice. The services under the i2i agreement will be provided on behalf of i2i by Kailyn White and Joseph Grubb.

i2i and its principals are arm's length to the company and do not have any direct or indirect interest in the company, or its securities, or any right or intent to acquire such an interest. The agreement with i2i is subject to the approval of the TSX Venture Exchange.

About Renard

Renard is a mining and processing site located in the Eeyou Istchee James Bay region of Quebec, approximately 60 kilometres south of the Adina lithium project and approximately 400 kilometres north of a national railway connection at Chibougamau. Chibougamau is connected by road and rail to the critical mineral and EV (electric vehicle) battery supply chain hub in Becancour. Renard first produced diamonds in 2016 and its infrastructure includes a fully covered 2.2-million-tonne-per-annump rocessing facility, the on-site Clarence and Abel Swallow Airport, a 16-megawatt, liquefied-natural-gas-fired power station, tailings and water management infrastructure, a maintenance shop, a 330-bed camp, and permanent all-season road access to Chibougamau and onward connections to the St. Lawrence Seaway and major ports.

About Stornoway Diamonds (Canada) Inc.

Stornoway is a Canadian diamond production, exploration and development company whose principal mineral property is its 100-per-cent-owned Renard diamond mine and processing facility. On Oct. 27, 2023, Stornoway announced that Renard was being placed into care and maintenance pending a recovery in diamond prices and that restructuring proceedings (the CCAA proceedings) under the Companies' Creditors Arrangement Act ("CCAA") before the court had commenced. The stay of proceedings has been extended from time to time and the CCAA proceedings are continuing.

About Li-FT Power Ltd.

Li-FT is focused on developing a portfolio of hard-rock lithium assets in Canada, with core development assets in both Quebec and the Northwest Territories. The company owns the Adina lithium project in the Eeyou Istchee James Bay region of Quebec and the Yellowknife lithium project in the Northwest Territories. Li-FT also holds early-stage exploration properties in both jurisdictions.

We seek Safe Harbor.