Mr. Francis MacDonald reports

LIFT ENTERS INTO AGREEMENT WITH NORTH ARROW MINERALS TO ACQUIRE 100% INTEREST IN THE DESTAFFANY, LDG & MACKAY LITHIUM PROJECTS, NWT, CANADA

Li-FT Power Ltd. has entered into a definitive agreement with North Arrow Minerals Inc. to acquire a 100-per-cent interest in the DeStaffany, LDG and Mackay lithium projects, located in the Northwest Territories, Canada.

Francis MacDonald, chief executive officer and director of Li-FT, commented: "The acquisition of North Arrow's lithium portfolio further positions Li-FT as the leading lithium exploration company in the Northwest Territories. The DeStaffany project is located close to our Bet and Echo pegmatites, which creates synergies from a logistical standpoint as well as increases the overall resource base for the eastern sector of the Yellowknife pegmatite province. The LDG and Mackay properties give Li-FT a foothold in an emerging spodumene district located near the Diavik and Ekati diamond mines and provide long-term upside for the company. We will continue to seek out accretive acquisitions within the Northwest Territories, especially around our existing resource base."

Under the terms of the agreement, Li-FT will acquire all rights, title and interest in the DeStaffany, LDG and Mackay lithium projects in exchange for an issuance of 250,000 common shares of Li-FT to North Arrow Minerals. The agreement also includes provisions for the transfer of associated reclamation bonds, ensuring responsible environmental stewardship as these projects are developed.

The transaction is subject to customary closing conditions, including regulatory approvals.

DeStaffany lithium project

The DeStaffany lithium property covers 1,843 hectares located on the northern-central shore of Great Slave Lake, approximately 18 kilometres northeast of the Nechalacho mine and 115 kilometres east of Yellowknife. The property hosts the Moose 1 and Moose 2 lithium-tantalum-niobium-bearing pegmatites. The pegmatites were initially evaluated in the 1940s for tantalum and niobium but have never been subject to a focused evaluation of their lithium potential. New discoveries are possible within the property as highlighted by the identification of additional pegmatites by North Arrow.

The Moose 1 pegmatite has never been drilled but has been traced over a 370-metre strike, averaging 4.5 metres to 6.0 metres in width, with a maximum width of approximately 11 metres, and hosts spodumene mineralization that returned 1.5 per cent Li2O (lithium oxide) over 7.5 metres from historic channel sampling in 2009.

The Moose 2 pegmatite has been mapped over a 450-metre strike length and is up to 30 metres wide. The pegmatite was bulk sampled for its tantalum and niobium potential in the 1940s and 1950s, producing tantalum and niobium concentrates, but has never been evaluated or drilled for its lithium potential. Spodumene mineralization is common throughout the pegmatite, with elevated lithium analyses of up to 1.98 per cent Li2O returned from samples along at least a 250-metre strike length of the body.

The Moose pegmatites are located within one kilometre of Great Slave Lake, providing good year-round access to the property from both Yellowknife and Hay River on the south side of lake. Next steps for the property will include preparation for mapping, sampling and prospecting fieldwork ahead of initial drill testing of these mineralized spodumene pegmatites.

LDG lithium project

The LDG project comprises 8,600 hectares of mineral claims and leases that are located 15 kilometres southwest of Rio Tinto's Diavik diamond mine. To date, 10 spodumene pegmatite occurrences have been discovered by prospecting, including at least two undrilled spodumene pegmatites, each with outcropping dimensions estimated up to 20 metres in width and can be traced along 400 metres of strike length. The project area is covered by till, which can be used an as exploration medium to discover buried deposits.

Mackay lithium project

The MacKay project comprises 8,661 hectares of mineral claims approximately 30 kilometres to the south of the Rio Tinto's Diavik diamond mine. To date, two spodumene occurrences have been discovered by prospecting. MK1 consists of a series of irregular subparallel pegmatite dikes ranging from 0.5 metre to greater than 10 metres wide over a combined width of up to 150 metres and traced over an interpreted strike extent of greater than 400 metres; hand samples from four locations along 120 metres of strike have returned 2.45 per cent, 2.51 per cent, 2.76 per cent and 3.74 per cent Li2O.

MK3 (located approximately 4.5 kilometres east-northeast of MK1) is a prominent, 15-metre-to-20-metre-wide, white pegmatite exposure traced near continuously along strike for approximately 130 metres; five grab samples returned 5.25 per cent, 4.08 per cent, 2.71 per cent, 1.92 per cent and 1.10 per cent Li2O.

Li-FT announces DSU (deferred share unit) grant

Li-FT announces that it has granted a total of 7,432 deferred share units to certain independent directors of the company in lieu of director fees for the fourth quarter at a fair market value of $2.69 per DSU. The DSUs were granted in accordance with the company's omnibus share incentive plan, which was approved by shareholders on Feb. 13, 2024.

Each DSU represents the right to receive one common share in the share capital of the company. The DSUs vest one year from the grant date and are settled in accordance with the terms of the company's share incentive plan, a copy of which is available on the company's SEDAR+ profile.

Stock option grant

The company announces that it has granted stock options to its directors, officers, employees and consultants to acquire a total of 499,500 common shares of the company at an exercise price of $3.65 per share for a period of five years. The vesting terms are structured as follows: 499,500 options undergo a phased vesting, with 25 per cent vested on the grant date and an additional 25 per cent on each six-month, 12-month and 18-month anniversary.

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 Dr. Ron Voordouw, PhD, PGeo, partner, director (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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