Mr. Francis MacDonald reports

LIFT INTERSECTS 35 M AT 1.32% LI2O AT ITS SHORTY PEGMATITE, YELLOWKNIFE LITHIUM PROJECT, NWT

Li-FT Power Ltd. has released assays from 12 drill holes completed at the Shorty, Big East, Echo, Fi Main and Ki 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-0283: 35 m at 1.32 per cent Li 2 O, (Shorty)
• YLP-0274: 11 m at 1.16 per cent Li 2 O, (Ki)
• including: 6 m at 1.87 per cent Li2O
• YLP-0263: 12 m at 0.82 per cent Li 2 O, (Echo)
• Including: 6 m at 1.29 per cent Li2O

Discussion of Results

This news release provides results for 12 drill holes (1,918 m) from Li-FT's 2024 winter drilling program. Holes are reported from five different pegmatite complexes that include Shorty, Ki, Echo, BIG East, and Fi Main. 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, "Shorty continues to deliver near-surface high grade spodumene mineralization this week, with YLP-0283 returning an impressive 35 m of 1.32 per cent Li2O only 50 m from surface. The intercept extends strong shallow mineralization drilled 100 m to the southwest in holes YLP091 & YLP097 (17 m of 1.28 per cent Li2O, 16 m of 1.01 per cent Li2O, and 23 m of 1.03 per cent Li2O) from 2023. This new information extends high grade mineralization for a total of 400 m on surface at Shorty emphasising the dike's potential to deliver significant high-grade tonnes from surface."

Shorty Pegmatite

The Shorty pegmatite is formed by several sub-parallel dikes that, together, define a pegmatite-bearing corridor that is at least 1.4 km long, up to 100 m wide, north-northeast striking, and dips 50degree-70degree to the west. The corridor itself consists of both country rock and pegmatite, with pegmatite occurring as either a single 10-40 m wide dike or as 2-4 dikes with a similar cumulative width spread over 50-100 m of core length.

YLP-0283 was collared within a few metres of the lease boundary to test the Shorty corridor at approximately 50 to 100 m below the surface and 50 m north of a section with previously released YLP-0089 (1.55 per cent Li2O over 15 m from 2 intervals, 5 m apart). Drilling intersected a 35 m dike centered at approximately 50 m below the surface that returned a wall-to-wall composite of 1.32 per cent Li2O. This intersection is the northeastern-most hole drilled on Shorty corridor to date with mineralization open at depth and along strike to the north-northeast where it extends off Li-FT's claims (Table 1 & 2, Figures 2 & 3).

Ki Pegmatite

The Ki pegmatite complex comprises a north-northwest trending corridor of dikes that extends for at least 1.3 km on surface and dips steeply to the southwest. The southern part of the corridor consists mostly of one large dike and several narrower flanking dikes that sum to a constant pegmatite width of around 25 m. The northern part consists of two relatively thick dikes that are between 50-150 m apart, with the western dike comprising the northern extension of the Ki dike and the more eastern dike referred to as Perlis.

YLP-0274 was drilled at the northern end of the Ki dike where it overlaps with the southern end of the Perlis dike. The hole was designed to test both dikes at depths of approximately 10 and 75 m below the surface. Drilling intersected the Ki dike, with a width of 11 m, as well four 1 to 4 m wide dikes spread over 86 m of core further down the hole, the deepest of which is possibly Perlis. The Ki dike returned a wall-to-wall composite of 1.16 per cent Li2O that includes 6 m of 1.87 per cent Li2O and is open at depth and to the north. The other dikes returned negligible grade (Table 1 & 2, Figures 4 & 5).

YLP-0261 was collared 150 m southeast of YLP-0274 to test the Ki corridor from approximately 5 to 75 m below the surface and 50 m north of previously released YLP-0072 (0.79 per cent Li2O over 17 m). New drilling intersected a dike cluster just below overburden and another centered at 75 m depth, with the shallower cluster returning a composite of 0.56 per cent Li2O over 3 m (Table 1 & 2, Figure 4).

Echo Pegmatite

The Echo pegmatite complex comprises a steeply dipping, northwest-trending, feeder dike ("Echo feeder") that splits into a fanning splay of moderate to gently dipping dikes for 0.5 km to the northwest ("Echo splay"). 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. All six of the holes reported here were drilled on the feeder dike and are described below from northern to southernmost.

YLP-0263 tested the Echo feeder dike near where it merges with the Echo splay, approximately 75 m below the surface and 50 m downdip of previously released YLP-0226 (1.45 per cent Li2O over 13 m). New drilling intersected 6 and 12 m wide dikes separated by 7 m of country rock, with the thicker dike returning a wall-to-wall composite of 0.82 per cent Li2O that includes 6 m of 1.29 per cent Li2O. High grade spodumene mineralization is cut out by a mafic dike but is open at depth and along strike to the north (Table 1 & 2, Figures 6 & 7).

YLP-0253 was drilled on a section 275 m south of the section with YLP-0226/0263 to test the Echo feeder at 125-150 m below the surface and 100 metres downdip of previously released YLP-0248 (0.92 per cent Li2O over 11 m). New drilling intersected a nine-metre-wide feeder dike that returned a composite of 0.50 per cent Li2O over 6 m (Table 1 & 2, Figure 6).

YLP-0256 was drilled on a section 50 m south of the section with YLP-0248/0253 to test the Echo feeder approximately 25-50 m below the surface. Drilling intersected a 26 m wide corridor with 10 m of pegmatite spread over three dikes, one of which returned a composite of 0.57 per cent Li2O over 3 m (Table 1 & 2, Figure 6).

YLP-0252 was drilled on a section an additional 50 m south to test the Echo feeder at 25-50 m below the surface and 100 m up-dip of YLP-0254 (1.23 per cent Li2O over 6 m). New drilling intersected a 29 m wide corridor with 10 m of pegmatite spread over two dikes, neither of which returned assays over 0.1 per cent Li2O (Table 1 & 2, Figure 6).

YLP-0257 was drilled on a section 100 m south of the previously described hole (YLP-0252) to test the Echo feeder at approximately 100 m below the surface and 75 m downdip of previously released YLP-0236 (0.79 per cent Li2O over 7 m). New drilling intersected several 1 to 3 m wide flanking dikes at shallower depth and then a 7 m wide pegmatite interpreted as the feeder. No significant assays were returned (Table 1 & 2, Figure 6).

YLP-0244 was drilled on a section an additional 100 m south of the previously described hole to test the Echo feeder approximately 100 m from its mapped southern extent, 100 m below the surface, and 75 m downdip of previously released YLP-0245 (0.62 per cent Li2O over 7 m). Drilling intersected a 22 m wide corridor with 11 m of pegmatite spread over two dikes, neither of which returned assays over 0.1 per cent Li2O (Table 1 & 2, Figure 6).

BIG East Pegmatite

The BIG East pegmatite complex comprises a north-northeast trending corridor of parallel-trending dikes that is exposed for at least 1.8 km of strike length, ranges from 10-100 m wide, and dips approximately 55degree-75degree degrees to the west.

YLP-0267 is the northern-most hole reported from the BIG East complex to date and was drilled to test the corridor at 25-125 m below the surface on a section located 50 m north of previously released hole YLP-0262 (1.22 per cent Li2O over 11 m). Drilling intersected a 25 m wide dike centered at approximately 100 m below the surface and flanked by one or more 2 to 9 m wide dikes on either side. Assays returned composites of 0.46 per cent Li2O over 3 m and 0.46 per cent Li2O over 8 m from the thick dike as well as 0.57 per cent Li2O over 1 m from one of the flanking dikes (Table 1 & 2, Figures 8 & 9).

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 or more dikes. The two holes reported here were both drilled at the north end of the complex.

YLP-0250 was drilled to test the Fi Main corridor at approximately 10-125 m below the surface and 100 m due north of previously released YLP-0233 (no significant result). Over a 159 m interval, drilling intersected 11 pegmatite dikes with widths between 1 to 9 m that total to a cumulative pegmatite width of 46 m. Assays all returned <=0.3 per cent Li2O (Table 1 & 2, Figure 10).

YLP-0255 was drilled 50 m north of YLP-0250 to provide a similar test of the Fi Main corridor between 10-100 m below the surface. Drilling intersected 35 m of pegmatite spread over eight dikes and 101 m of drill core, with all assays returning <=0.2 per cent Li2O (Table 1 & 2, Figure 10).

Missing image: Li-FTmay22

Drilling Progress Update

Currently, Li-FT has reported results from 257 diamond drill holes (44,512 m). The company concluded its winter drill program at the Yellowknife Lithium Project with a combined total of 286 diamond drill holes (49,548 m) completed between the summer and winter programs.

General Statements

All 12 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 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 & 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.

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