LIFT Intersects 13 m at 1.24% Li2O at its Echo pegmatite, Yellowknife Lithium Project, NWT

LIFT Intersects 13 m at 1.24% Li2O at its Echo pegmatite,

Yellowknife Lithium Project, NWT

December 12, 2023 – 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

Echo, Shorty , Fi -SW, Ki, & BIG East pegmatites within the Yellowknife Lithium Project (“YLP”)

located outside the city of Yellowknife, Northwest Territories (Figure 1). Drilling has intersected

significant intervals of spodumene mineralization, with the following highlights:

Highlights:

• YLP-0107: 13 m at 1.24% Li2O, (Echo)

and: 5 m at 0.62% Li2O

and: 2 m at 0.76% Li2O

• YLP-0101: 13 m at 1.28% Li2O, (BIG East)

and: 5 m at 1.30% Li2O

and: 2 m at 0.59% Li2O

• YLP-0098: 13 m at 1.27% Li2O, (Ki)

and: 5 m at 0.63% Li2O

including: 2 m at 1.25% Li2O

• YLP-0094: 11 m at 1.38% Li2O, (Shorty)

Francis MacDonald, CEO of LIFT comments, “The first drill results from our Echo target have been

a positive surprise. Our model at the time indicated that the pegmatites were steeply dipping.

What we discovered after drilling the first hole was that there are three separate pegmatite bodies

that are shallowly dipping at depth. This geometry is very favorable for mining. We look forward

to releasing additional drill results from Echo and to continue drill -testing this target in the

upcoming drill program which is scheduled to start in January 2024.”

Discussion of Results

This week’s drill results include the first two holes drilled on the Echo pegmatite (YLP-0099, 107)

as well as six holes split among the Shorty (YLP -0094, 103), Ki (YLP-0098), BIG East (YLP-0100,

YLP-0101), and Fi Southwest (YLP-0105) pegmatites. 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.

Figure 1 – Location of LIFT’s Yellowknife Lithium Project. Drilling has been thus far focused on the Road Access 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.

Echo Pegmatite

The Echo pegmatite complex, located in the “Further Afield Group” in the map above (Figure 1) is

broadly north -of-northwest to northwest trending and ranges from a single dyke in the

southeastern end to multiple dykes over a 400 m wide corridor in the northwest. Individual dykes

range from gently to steeply east dipping and are up to 25 m wide.

YLP-0099 tested the eastern -most Echo pegmatite approximately 200 m from its northern

mapped extent and 25 m vertically beneath the surface. Drilling intersected two pegmatites, the

first spanning 13 m starting at 4 m core depth as well as a 1 m wide dyke 17 m further down the

hole. Assay composites for the upper dyke returned 0.62% Li2O over 11 m with two subintervals

of ~1.0% Li2O over 2-4 m core lengths. The lower dyke returned negligible grade.

YLP-0107 was drilled on a different part of the Echo swarm from YLP- 0099, testing a dyke

approximately 200 m from its northwestern mapped extent and 50 m vertically below the surface.

Drilling intersected four, 1 -16 m wide, pegmatites, with the two uppermost dykes comprising a

cumulative 24 m of pegmatite over 51 m of core. Assays returned composites of 1.24% Li2O over

13 m for the lower of these two dykes as well as 0.62% Li2O over 5 m for the upper one. The two

deeper dykes are 1-2 m wide, occur at least 40 m downhole of the upper two, and returned up to

0.76% Li2O over 2 m (Table 1 & 2, Figures 2 & 3).

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

Figure 3 – Cross-section of YLP-0107 which intersected the Echo pegmatite dyke with a 13 m interval of 1.24% Li2O.

Shorty Pegmatite

The Shorty pegmatite is one of several dykes occurring within a broader north -of-northeast

striking corridor. Drill intercepts show that it comprises a single 10-25 m wide dyke or 2-4 dykes

with a similar cumulative width spread over 40 -95 m of core length. The pegmatite is visible for

at least 700 m on surface and dips 50°-70° to the west-northwest.

YLP-0094 tested the Shorty pegmatite just 100 m from its northern mapped extent and 50 vertical

metres below the surface, as well as 50 and 150 m up-dip, respectively, from previously released

YLP-0091 (1.01% Li2O over 16 m) and YLP-0097 (1.69% Li2O over 11 m). Drilling intersected 13 m

of pegmatite from 51-64 m core depth that includes a composite of 1.38% Li2O over 11 m. A 1 m

wide dyke intersected ~37 m higher up in the hole returned negligible grade.

YLP-0103 was designed to test the Shorty pegmatite approximately 200 m from its northern

mapped extent, 150 m vertically below the surface, and 100 m downdip of previously released

YLP-0033 (1.50% Li2O over 16 m). Drilling intersected a 28 m wide interval comprising five 2-9 m

wide pegmatite segments split by 1-3 m wide panels of country rock. Assays returned 0.67% Li2O

over 18 m with subintervals of 1.1-1.3% Li2O over 3-4 m (Table 1 and 2, Figure 4).

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

Ki Pegmatite

The Ki pegmatite is one of several subparallel dykes that occur within a longer north-of-northwest

trending corridor. Drill intercepts of Ki typically mostly comprise of a thick “main” dyke flanked by

one or more narrower (1 -5 m wide) dykes although, in places, it comprises 2 -6 dykes of similar

cumulative thickness spread over up to 80 m of core length. The Ki dyke is visible for at least

1,000 m on surface and dips between 65°-80° to the southwest.

YLP-0098 tested the Ki pegmatite approximately 150 m from its known northwestern end, 50 m

vertically beneath the surface, and 50 m downdip of previously reported YLP- 0080 (1.50% Li2O

over 14 m). Drilling intersected six, 1- 16 m wide, dykes over 80 m of core length, for cumulative

pegmatite thickness of 28 m. The two widest dykes returned assay composites of 1.27% Li2O

over 13 m and 1.25% Li2O over 2 m whereas the remaining two dykes are each 1- 2 m wide and

returned negligible grade (Table 1 and 2, Figures 5 & 6).

Figure 5 – Plan view showing the surface expression of the Ki pegmatite with diamond drill holes reported in this press release.

Figure 6 – Cross-section illustrating YLP-0098 with results as shown in the Ki pegmatite dyke with a 13 m interval of 1.27% Li2O.

BIG East Pegmatite

The BIG East pegmatite swarm comprises a 35-90 m wide corridor of parallel-trending dykes that

dips around 55 °-75° degrees west and extends for at least 1,300 m along surface and 200 m

downdip.

YLP-0100 was designed to test the BIG East swarm approximately 500 m from its northern end

and 300 m vertically beneath the surface, as well as 300, 250, and 150 m downdip, respectively,

of YLP-0052 (1.27% Li2O over 15 m), YLP-0032 (1.04% Li2O over 18 m), and YLP-0093 (1.40% Li2O

over 21 m). Drilling intersected two pegmatite dykes over 44 m of core length with a cumulative

pegmatite width of 40 m. Assays are mostly negligible, however, with the best interval returning

1.17% Li2O over 1 m.

YLP-0101 tested the BIG East swarm approximately 500 m from its southern end, 100 m vertically

below the surface, and 50- 100 m downdip of YLP -0068 drilled along the same azimuth (1.02%

Li2O over 26 m). Drilling intersected five, 1 -14 m wide, pegmatites over 65 m of core length, for

cumulative pegmatite width of 25 m. The central dyke is thickest and returned 1.28% Li2O over 13

m, the upper -most dyke returned 1.30% Li2O over 5 m, and the second deepest dyke assayed

0.59% Li2O over 2 m. The two remaining dykes returned negligible grade (Table 1 and 2, Figures

7 & 8).

Figure 7 – Plan view showing the surface expression of the BIG East pegmatite with diamond drill holes reported in this press release.

Figure 8 – Cross-section illustrating YLP-0101 with results as shown in the BIG East pegmatite dyke with a 13 m interval of 1.28%

Li2O.

Fi Southwest

The Fi Southwest (SW) pegmatite is one of several dykes occurring within a north- of-northeast

striking dyke corridor. Drilling at Fi SW shows that it ranges from a single 20-40 m wide dyke to 2-

3 dykes of similar cumulative width within a 50 -70 m wide corridor. The Fi SW dykes are visible

for at least 1,100 m on surface and dips 60°-80° to the east-southeast, with drilling date showing

at least 150 m of downdip continuity along 550 m of strike.

YLP-0105 tested the Fi SW pegmatite approximately 500 m from its southern end and 250 m

vertically below the surface, as well as 100 m and 200 m downdip, respectively, of YLP- 0002

(0.34% Li2O over 34 m) and YLP-0003 (1.43% Li2O over 39 m). Drilling intersected seven, 3-13 m

wide, pegmatites over 86 m of core length, for cumulative pegmatite total of 50 m, in addition to

two more dykes scattered further up the hole. All nine dykes returned negligible grade (Table 1

and 2, Figure 9).

Figure 9 – Plan view showing the surface expression of the Fi SW pegmatite with diamond drill holes reported in this press release.