LIFT Intersects 11 m at 1.52% Li2O at its Nite pegmatite, Yellowknife Lithium Project, NWT

LIFT Intersects 11 m at 1.52% Li2O at its Nite pegmatite,

Yellowknife Lithium Project, NWT

February 13, 2024 – Vancouver, B.C., Li-FT Power Ltd. (“ LIFT” or the “ Company”) (TSXV: LIFT)

(OTCQX: LIFFF) (Frankfurt: WS0) is pleased to report assays from 8 drill holes completed at the

BIG West, Nite & Ki pegmatites within the Yellowknife Lithium Project (“YLP”) located outside the

city of Yellowknife, Northwest Territories (Figure 1). Drilling intersected significant intervals of

spodumene mineralization, with the following highlights:

Highlights:

• YLP-0177: 11 m at 1.52% Li2O, (Nite)

and: 1 m at 1.19% Li2O

• YLP-0179: 12 m at 0.64% Li2O, (Ki)

including: 3 m at 1.39% Li2O

and: 5 m at 0.56% Li2O

including: 2 m at 1.22% Li2O

Discussion of Results

This week’s drill results are from 1,184 m drilled across eight holes on the Nite, Ki and BIG West

pegmatite complexes. 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.

Francis MacDonald, CEO of LIFT comments , “This week’s results show the high- grade nature of

the Nite pegmatite. 11 meters at 1.52% Li2O is an excellent result and shows that there is further

potential along strike to the southwest and downdip at the Nite pegmatite.”

Figure 1 – Location of LIFT’s Yellowknife Lithium Project. Drilling has been thus far focused on the Near Field Group of pegmatites

which are located to the east of the city of Yellowknife along a government -maintained paved highway, as well as the Echo target in

the Further Afield Group.

Nite Pegmatite

The Nite pegmatite complex comprises a north -northeast trending corridor of parallel -trending

dykes that is exposed for at least 1.4 km of strike length and dips approximately 50°-70° degrees

to the east. The northern part of this complex consists of a main dyke flanked by one or more

thinner dykes whereas the southern part comprises a fanning splay of 5 -10 thinner dykes that is

up to 200 m wide.

YLP-0174 explored the Nite pegmatite approximately 100 m from its northern end and 50 m

beneath the surface. Drilling intersected three pegmatite dykes ranging from 2 -5 m wide for

cumulative pegmatite of 9 m over 27 m of core. The deepest of these three dykes returned 0.82%

Li2O over 3 m.

YLP-0177 was drilled to test the Nite pegmatite ~600 m from its southern mapped extent and

100-150 m beneath the surface. Two previously released holes drilled on the same section

returned 1.40-1.50% Li2O over 10-11 m from intersections located both 100 m up-dip (YLP-0142)

and down-dip (YLP -0182) of YLP-0177. New drilling intersected a 16 m dyke preceded by four 1-

7 m dykes for cumulative pegmatite of 31 m over 72 m of drill core. Assays returned a composite

of 1.52% Li2O over 11 m from the thick dyke as well as 1.19% Li2O over 1 m from one of the thinner

ones (Table 1 & 2, Figures 2 & 3).

Figure 2 – Plan view showing the surface expression of the Nite pegmatite with diamond drill holes reported in this press release.

Figure 3 – Cross-section illustrating YLP-0177 with results as shown in the Nite pegmatite dyke with a 11 m interval of 1.52% Li2O.

Ki Pegmatite

The Ki pegmatite is a north-northwest trending corridor of dykes 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 dyke and several narrower flanking dykes that sum to a constant pegmatite width of

around 25 m. The northern part consists of two relatively thick dykes that are between 50-150 m

apart, with the western dyke comprising the northern extension of the large dyke to the south and

the more eastern dyke referred to as the Perlis pegmatite.

YLP-0178 was drilled on the Ki dyke in the northern part of the corridor, 100 m along strike and

northwest of YLP-0179 (see below), 100 m from the northern mapped extent of the dyke, and 50

m beneath the surface. Drilling intersected three dykes between 1 -13 m in width for cumulative

24 m of pegmatite over 44 m of core. Assays returned no significant results.

YLP-0179 was also drilled to intersect the Ki dyke 50 m beneath the surface, with the hole collared

in-between along-strike step-out holes drilled 100 m northwest (YLP-0178, see above) and to the

southeast (YLP-0184; 1.11% Li2O over 13 m). Drilling intersected a 15 m wide dyke flanked by

several 1-6 m wide dykes, for cumulative pegmatite of 23 m over 60 m. The thick dyke returned

an assay composite of 0.64% Li2O over 12 m that includes 3 m of 1.39% Li2O whereas the upper-

most dyke returned 0.56% Li2O over 5 m including a 2 m interval of 1.22% Li2O (Table 1 & 2, Figures

4 & 5).

Figure 4 – Plan view showing the surface expression of the Ki pegmatite with diamond drill holes reported in this press release.

Figure 5 – Cross-section of YLP-0179 which intersected the Ki pegmatite dyke with a 12 m interval of 0.64% Li2O.

BIG West Pegmatite

The BIG West pegmatite complex comprises a northeast -trending corridor of parallel -trending

dykes that is exposed for at least 1.5 km along strike and is steeply west dipping to subvertical.

The complex is bound by two relatively continuous dyke structures that are 50-100 m apart in the

northern half of the corridor and 150 m apart in the south. These dykes are here referred to as the

east-bounding (EB) and west -bounding (WB) dykes. Descriptions below are ordered from

southern- to northern-most.

YLP-0173 tested the WB dyke approximately 500 m from its southern mapped extent and 100 m

beneath the surface. Drilling intersected three dykes separated by 40 -65 m of country rock, with

each interval comprising 5-8 m of pegmatite over 5-12 m of core. Assay composites for the lower-

most dyke returned 1.20% Li2O over 3 m.

YLP-0181 was drilled ~500 m from the northern mapped extent of the WB and EB dykes to,

respectively, test pierce points at <25 m and 50 m below the surface. The WB dyke is 8 m wide

and returned negligible grade. The EB dyke comprises a 10 m wide pegmatite flanked by at least

three dykes between 1-5 m in width, for cumulative 19 m of pegmatite over 33 m of core. Assays

were generally low but include 1.16% Li2O over 1 m from the thick dyke and 0.91% Li2O over 1 m

from one of the thinner dykes.

YLP-0172 was collared just east of the WB dyke to test the EB dyke approximately 250 m from its

northern mapped extent, 50 m below the surface, and 100 m up -dip of YLP -0176 (see below).

Drilling intersected 14 m and 9 m wide dykes separated by 11 m of coun try rock, with the upper

dyke returning an assay composite of 0.67% Li2O over 7 m (including 1.38% Li2O over 3 m) and

the lower one returning 0.51% Li2O over 9 m (including 0.99% Li2O over 4 m).

YLP-0176 was drilled on the same section as YLP -0172 to intersect the WB dyke <25 m beneath

the surface and the EB dyke at 150 m, 100 m downdip of YLP -0172 (see above). The WB dyke is

14 m wide and returned negligible grade. The EB dyke comprises a 16 m wide main dyke flanked

by four dykes between 1 -2 m in width. The thickest dyke returned an assay composite of 0.56%

Li2O over 10 m that includes a 1 m interval of 1.42% Li2O. The thin dykes returned negligible grade

(Table 1 & 2, Figure 6).

Figure 6 – Plan view showing the surface expression of the BIG West pegmatite with diamond drill holes reported in this press

release.

Table 1 – Assay highlights for drill holes reported in this press release

Hole No. From (m) To (m) Interval (m) Li2O% Dyke

YLP-0172 57 64 7 0.67

BIG West

inc 58 61 3 1.38

and 79 88 9 0.51

inc 83 87 4 0.99

YLP-0173 156 161 5 0.77 BIG West

inc 157 160 3 1.20

YLP-0174 72 75 3 0.82 Nite

YLP-0176 130 140 10 0.56

BIG West

inc 138 139 1 1.42

YLP-0177 188 189 1 1.19

Nite

and 200 211 11 1.52

YLP-0178 No significant results Ki

YLP-0179 20 25 5 0.56

Ki

inc 20 22 2 1.22

and 61 73 12 0.64

inc 61 64 3 1.39

YLP-0181 71 72 1 0.91

BIG West

and 90 91 1 1.16

Drilling Progress Update

The Company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238

m completed. Currently, LIFT has reported results from 182 out of 198 diamond drill holes (32,076

m).

General Statements

All eight holes described in this news release were drilled broadly perpendicular to the dyke

orientation so that the true thickness of reported intercepts will range somewhere between 65 -

100% 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.

Table 2 - Drill collars table of reported drill holes in this press release

Drill Hole NAD83 Easting Northing Elevation (m) Azimuth (°) Dip (°) Depth (m) Dyke

YLP-0172 Zone 11 654,150 6,933,701 205 118 45 111 BIG West

YLP-0173 Zone 11 653,769 6,933,221 207 118 45 221 BIG West

YLP-0174 Zone 11 647,778 6,936,848 202 300 45 96 Nite

YLP-0176 Zone 11 654,120 6,933,716 201 115 71 210 BIG West

YLP-0177 Zone 11 647,541 6,936,179 216 298 50 228 Nite

YLP-0178 Zone 12 372,763 6,943,524 258 56 50 100 Ki

YLP-0179 Zone 12 372,838 6,943,459 259 56 45 111 Ki

YLP-0181 Zone 11 654,018 6,933,487 200 115 44 107 BIG West

QA/QC & Core Sampling Protocols

All drill core samples were collected under the supervision of LIFT 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 LIFT’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% 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% 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 LIFT’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 LIFT

LIFT 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. LIFT 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.

For further information, please contact:

Francis MacDonald Daniel Gordon

Chief Executive Officer Investor Relations