Mr. Francis MacDonald reports

LIFT ANNOUNCES A STRATEGIC $21.3 MILLION PRIVATE PLACEMENT

Li-FT Power Ltd. has arranged a non-brokered private placement consisting of: (i) 2,694,895 common shares of the company that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) at a price of $5.6575; and (ii) 1,645,000 common shares of the company at a price of $3.65 per hard-dollar share, for aggregate gross proceeds of approximately $21,250,618.

A single purchaser is expected to ultimately purchase all of common shares to be issued under the offering as a strategic investment. The purchaser currently holds 363,918 common shares of the company. Upon closing of the strategic investment, the purchaser will own 4,703,813 common shares of the company, representing 9.99 per cent of the issued and outstanding common shares on a non-diluted basis.

In connection with the strategic investment, the company and the purchaser will negotiate an investor rights agreement containing customary terms.

The gross proceed from the issue of the hard-dollar shares will be used to advance the company's Canadian assets as well as for general corporate purposes. The gross proceeds from the issue of the flow-through shares will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical-mineral mining expenditures, as such terms are defined in the Income Tax Act (Canada), related to the company's projects located in the Northwest Territories, Canada, on or before Dec. 31, 2025. All qualifying expenditures will be renounced in favour of the subscribers effective Dec. 31, 2024.

The closing of the offering is expected to occur on or before Nov. 12, 2024, and is subject to the satisfaction of certain conditions, including execution of definitive agreements, including the investor rights agreement with the proposed purchaser, and the receipt of acceptance by the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.

Canaccord Genuity acted as financial adviser to Li-FT in connection with the strategic investment.

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 the 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 the Northwest Territories, within the Little Nahanni pegmatite group.

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