Mr. Francis MacDonald reports

LI-FT COMMENCES LITHIUM CARBONATE CONVERTER SCOPING STUDY AS PART OF INTEGRATED DOWNSTREAM STRATEGY FOR THE YELLOWKNIFE LITHIUM PROJECT

Li-FT Power Ltd. has commenced a scoping study to build a lithium carbonate converter, to be integrated with its Yellowknife lithium project in the Northwest Territories. The converter project will have a planned production capacity of 30,000-tonne-per-annum lithium carbonate equivalent (LCE) of battery-grade lithium carbonate, sourcing future feedstock from the Yellowknife lithium project. The launch of the scoping study is co-ordinated with the emerging regional demand considerations, as the lithium battery value chain continues to evolve and develop in Canada and more broadly the North American market.

Highlights

1. Li-FT to launch scoping study for a lithium carbonate converter as part of advancing its integrated downstream strategy;
2. Scoping study to be based on a planned 30,000 tonnes per annum production capacity of battery grade lithium carbonate, taking spodumene concentrate feedstock supplied from the Yellowknife lithium project;
3. The exercise will also include a high-level site evaluation study to best ascertain the optimal location for the future lithium carbonate converter, based on a number of key factors and considerations, including proximity and logistics to the Yellowknife lithium project location in the Northwest Territories;
4. Li-FT's advancement of this integrated strategy, taking spodumene concentrate produced at Yellowknife and processing the raw materials through to lithium chemicals, will help support the continued buildout of a vertically integrated domestic supply chain in Canada.

Lithium carbonate is a key chemical input material used in the production of cathode active materials and electrolyte, which are both key components used in the manufacturing of lithium-ion batteries. The decision to focus the scoping study on the future production of lithium carbonate has taken into consideration of it being the preferred input material used in the production of LFP (lithium ferro phosphate or lithium iron phosphate) cathode materials. The LFP chemistry has continued its growth in not only electric vehicle (EV) applications, where LFP is growing in adoption particularly within the mass market vehicle segment, but more notably and significantly in recent years within the energy storage system (ESS) application sector. According to the International Energy Agency, LFP based technology in 2025 commanded a share in the global EV market of more than 50 per cent, while it dominates the global ESS market with a share of more than 90 per cent.

For the scoping study, Li-FT has elected to partner with SCT -- a globally leading engineering design, technology and equipment provider, focused on the lithium chemicals and battery materials sector. The company was established in 2002 and has offices in Australia, South Korea, China, Indonesia and Germany -- providing engineering and technology solutions for lithium minerals conversion, refinery and cathode active material projects. To date, SCT has built one of the strongest records of project execution in the lithium industry, participating in over 60 lithium conversion facility projects worldwide resulting in a total of one million tpa LCE of planned production capacity, of which 650,000 tpa LCE capacity has actually entered into operations and production at or above nameplate capacity, involving an aggregate capital investment of well over $7-billion (U.S.) to date. SCT is a specialist in the area of pyrometallurgy and has built up deep experience in handling the conversion and processing of a multitude of lithium minerals, including spodumene concentrate, lepidolite concentrate, clay et cetera, from various lithium resource projects around the world.

Anthony Tse, executive chairman of Li-FT Power, commenting on the commencement of the scoping study: "I am excited to see Li-FT advancing its integrated downstream strategy with the commencement of this study. The converter project will allow the company to further add value by processing the mined spodumene concentrate from its Yellowknife lithium project and processing it all the way through to lithium chemicals, thus importantly capturing that value locally. This strategy also allows Li-FT to play an important role in supporting the buildout of a vertically integrated domestic supply chain in Canada, providing a key input for the future production of battery materials which in turn will support cell manufacturing in the region. I am also pleased to be establishing this relationship between Li-FT and SCT, a strong technology and engineering partner with an invaluable depth of experience to support the company's integrated downstream strategy going forward."

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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