Mr. Francis MacDonald reports

LIFT PREPARES FOR INITIAL DIAMOND DRILL PROGRAM AT THE 25 KM LONG SPODUMENE ANOMALY AT THE PONTAX PROJECT, QUEBEC

Li-FT Power Ltd. has provided an update on the exploration results from the Pontax lithium project, located in the James Bay region of Quebec, and has also provided an update on the planned 2025 maiden drill program at the project. The Pontax lithium project comprises claims that are 100 per cent owned by Li-FT as well as claims under an option agreement with Harfang Exploration Ltd.

During the summers of 2023 and 2024, Li-FT collected 336 till samples for indicator mineral analysis in areas with very little outcrop. The goal was to identify spodumene grains in the soil/till that would signal the presence of nearby spodumene pegmatites beneath the soil cover. The programs resulted in the definition of a 25-kilometre-by-10-kilometre area of high spodumene grain counts in glacial sediments.

Francis MacDonald, chief executive officer of Li-FT, commented: "If spodumene is present in soils or glacial sediments, it is most likely sourced from lithium-bearing spodumene pegmatites within close proximity. The areal extent of the Pontax spodumene anomaly is very impressive and suggests more than one pegmatite dike is likely the cause of this. We believe there are at least three sizable targets, all within the same geological setting, all with high spodumene counts. The team is excited to get the drills started in April, 2025, and are busily finalizing details for the program, which is targeting the sources of this extensive spodumene anomaly."

Background on the Pontax project

The Pontax lithium project is located in the James Bay region of Quebec, approximately 300 kilometres to the north of the town of Matagami, along the Billy Diamond Highway, which provides access into the northern regions of Quebec. Matagami is a regional centre with rail access.

The Pontax lithium project is located along the Pontax River within the Anatacau-Pivert greenstone belt, a thin band of supracrustal rocks that occurs between the La Grande granitoid-gneiss terrane to the east and the Nemiscau subprovince to the west (Moukhsil et al., 2003). The Nemiscau subprovince is a large sedimentary basin that has undergone amphibolite to granulite facies metamorphism and is expressed in outcrop as diatexite and metatexites (rocks that have been subjected to high temperatures and have undergone some degree of partial melting and little to none of the primary textures remain).

The Anatacau-Pivert greenstone belt is located to the east of the Nemiscau subprovince and is composed of lower-amphibolite-grade mafic to felsic volcanics, siltstone to wackes, iron formations and local peridotite intrusions. Metamorphism is lower grade than the Nemiscau sedimentary rocks with primary textures being preserved and no onset of partial melting.

The Pontax formation is a conglomerate-to-wacke unit that sits unconformably on top of the Anatacau-Pivert supracrustal rocks. Clast composition is polymictic, ranging from granitic rocks to volcanic and sedimentary rocks. In some outcrops, quartz veins have been observed in the underlying volcanic rocks that terminate sharply against the Pontax formation, indicating the veining predated the deposition of the conglomerates. Polymictic conglomerates that unconformably overlie volcano-sedimentary rocks have been shown to mark major structural zones (for example, the Timiskaming assemblage in the Abitibi greenstone belt). The east-west trend of the Pontax formation suggests that there is an east-west trending structural zone that transects the Pontax property; that trend is a prospective structural setting for hosting spodumene pegmatites.

Discussion of exploration program and methodology

Li-FT initiated exploration on the Pontax lithium project during the summer of 2022. The initial exploration program consisted of a regional till geochemistry sampling program that covered all of Li-FT's Quebec properties (see press release dated Nov. 15, 2022).

During the spring of 2023, Li-FT drill tested two anomalies defined with till geochemistry on the Rupert project (see press release dated March 29, 2023). Till geochemistry outlined spatially continuous anomalies in lithium/cesium/tantalum/antimony/niobium at Target A and Target B. Results from the drill program were disappointing; no spodumene pegmatites were intersected. Li-FT's technical team made the conclusion that till geochemistry was not an effective tool to define spodumene pegmatites under cover.

During the summer of 2023, Li-FT decided to trial mineral counting as a methodology to target spodumene in glacial sediments. Indicator mineral counts have been used for decades in diamond and gold exploration programs and have been fundamental tool for a number of discoveries in Canada (that is, Ekati, Diavik, Gahcho Kue (diamonds), Rainy River, Meliadine, Casa Berardi (gold), Lac des Iles (platinum group elements) and Voisey's Bay (nickel sulphide)). The premise of this sampling technique is that unique minerals and combinations of minerals occur in mineral deposits. These minerals are transported along ice flow during glaciation periods and get smeared across the landscape. Till samples (usually five to 50 kilograms of till) are collected and then processed in a way to isolate these indicator minerals, which are then counted. Areas with high counts typically indicate promising targets for further exploration.

Li-FT selected areas with high lithium value in till geochemistry (and associated pathfinder elements) as areas to collect sampling for spodumene grain counts within the Pontax and Rupert projects. Samples were collected both up-ice and down-ice of the Whabouchi lithium deposit (Rio Tinto and Investissement Quebec; 50/50 joint venture) on Li-FT's claims for orientation. The samples collected down-ice of Whabouchi returned hundreds of spodumene grains while the samples up-ice returned background values of less than 10 spodumene grains (see press release dated May 2, 2024).

During the summer of 2024, Li-FT collected an additional 336 till samples for spodumene counts as well as conducted geologic mapping, prospecting, surficial mapping and magnetic surveys.

The surficial geology of the Pontax property was influenced by the incursion of the Tyrrell Sea at the end of the last ice glaciation. The sea invaded the James Bay Lowlands of Quebec and Ontario upon retreat of the glacier then underwent forced regression during glacio-isostatic rebound. Glaciomarine silt and clay deposits are found in the topographic lows across the Pontax project area, with underlying till and glaciofluvial deposits protruding to create local topographic highs. Reworking of these topographic highs by wave action in the near-shore environment complicates the dispersal of indicator minerals in the glacial sediments, but the bedrock source regions are suspected to be local because evidence for long-shore drift -- the beaches themselves -- are isolated to individual uplands and do not extend regionally across the landscape.

Mineralogical zonation and structural geology of the Pontax pegmatites

At the up-ice termination of the anomalous lithium and spodumene-grains in till, there are outcropping exposures of pegmatite dikes protruding through glacial cover that are aligned in an east-west direction. Geochemical sampling and mineralogical observations of these dikes reveal that accessory levels of beryl, apatite and garnet are present in some of the dikes. These minerals are common in or in close proximity to spodumene dikes in other deposits (for example, Galaxy and Greenbushes,). The beryl-apatite-garnet-bearing dikes sampled at Pontax have the highest lithium, cesium, tantalum and rubidium concentrations of all the dikes sampled across the property and are therefore considered good vectoring minerals for potentially locating nearby spodumene dikes hidden under cover. Holmquistite, a lithium-bearing amphibole commonly associated with spodumene-bearing dikes, was also observed in the contacts of dikes within Corridor A. Structurally, the corridors of dikes follow near-vertical, east-west-oriented stratigraphic contacts in isoclinal folds at or near the Anatacau-Pivert greenstones and the Pontax formation metasediment unconformity.

Drill targets

In 2025, 5,000 metres of diamond drilling are planned to cross corridors A, B and C in five drill fences. The drilling is prioritized where lithium-in-till and spodumene-grain-in-till anomalies terminate up-ice against the corridors. Drilling will focus on combinations of beryl-apatite-holmquisite-bearing dike swarms with strongest concentrations of lithium/cesium/tantalum and potassium/rubidium. Holes are planned to a maximum vertical depth of 100 metres from surface.

Li-FT announces DSU (deferred share unit) grant

Li-FT announces that it has granted a total of 10,543 DSUs to certain independent directors of the company, in lieu of director fees for the first quarter, at a fair market value of $2.45 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.

Termination of option agreement

Additionally, the company announces that it has terminated its option to acquire a 100-per-cent interest in the Thompson Lundmark property, pursuant to an option agreement dated Feb. 18, 2023. In accordance with the option agreement, the company has given notice for the termination of the option agreement, effective Feb. 18, 2025.

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 and director (geoscience) at Equity Exploration Consultants Ltd.; a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects; and a 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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