Mr. Francis MacDonald reports

LIFT REPORTS GRAB SAMPLES UP TO 3% LI2O WITHIN 1 KM BY 1.5 KM AREA AT THE CALI LITHIUM PROJECT, NWT, CANADA

Li-FT Power Ltd. has provided an update on surface work completed during the summer of 2023 at the Cali lithium project, Northwest Territories.

During the summer surface program in 2023, Li-FT completed a soil geochemistry survey covering the Cali property, as well as a mapping and prospecting campaign. Rock sampling and mapping indicate that the spodumene pegmatite dike swarm system is larger than had been anticipated with numerous spodumene pegmatite swarms present within an area of 1.5 kilometres by one kilometre. Out of 163 grab samples collected, 124 returned grades at greater than 1 per cent lithium oxide (Li2O).

Soil geochemistry results successfully outlined the outcropping corridors of spodumene pegmatites and additionally defined an area with very little outcrop that has a similar magnitude of anomalism, which could indicate spodumene pegmatites are located beneath soil cover.

Francis MacDonald, chief executive officer of Li-FT, comments: "We are very pleased with the surface program results from 2023. When we initiated this program, we were expecting spodumene-bearing corridors to be limited to a single 150-metre wide corridor, but the discovery of additional pegmatite corridors significantly upgrades the potential of the area. The new lithium anomaly defined by soil geochemistry adds even more upside with the potential for additional pegmatites located under cover. We see excellent potential at Cali to host a large spodumene resource."

About the Cali lithium project

The Cali lithium project (CLP) is located in the Mackenzie Mountains on the border of the Northwest Territories and Yukon, within the Little Nahanni pegmatite group (LNPG). The LNPG is a Cretaceous-age (approximately 82 million years old) rare-element pegmatite dike swarm over an area of 13 kilometres by five km that is hosted within Proterozoic Hyland group sedimentary rocks. The pegmatites are dominantly spodumene-bearing with subordinate spodumene-free (mainly lepidolite-rich) dikes.

The Cali area was originally staked in 1961 by the Canada Tungsten Mining Corporation Ltd., which reported grab samples of 1.5 per cent and 2.5 per cent Li2O. No work was completed again until 1977, when Canadian Superior Exploration Ltd. (CSEL) staked the Cali area, and completed a mapping and sampling campaign. CSEL concluded that there was excellent potential for a spodumene resource in the area. After the CSEL work, only sporadic sampling programs have been completed in the area.

Quality assurance/quality control and (QA/QC) sampling protocols

All rock and soil samples were collected under the supervision of Li-FT employees and contractors. Sample location and descriptions were recorded in the field, with samples transported to a temporary exploration camp where blanks and certified reference materials were inserted at regular intervals. Field duplicates 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 temporary exploration camp via helicopter/fixed wing to ALS Global's laboratory in Whitehorse, Yukon. Sample preparation and analytical work for this exploration program were carried out by ALS. Rock samples were prepared for analysis according to ALS method PREP-31: individual samples were crushed to 75 per cent passing through two-millimetre (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 53 elements according to ALS method ME-MS89L. Soil samples were prepared for analysis according to ALS method PREP-41: individual samples screened to 180 microns (80 mesh) (SCR-41). A 0.25 g subsample of the screened material was then dissolved in a four-acid solution and analyzed for 48 elements according to the super trace lowest detection limit ICP-MS (inductively coupled plasma mass spectrometry) ALS method ME-MS61L. 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, 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 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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