LIFT quadruples the size of the Cali Property through staking
LIFT quadruples the size of the Cali Property through staking
September 3, 2024 – Vancouver, B.C., Li-FT Power Ltd. (“ LIFT” or the “ Company”) (TSXV: LIFT)
(OTCQX: LIFFF) (Frankfurt: WS0) is pleased to report that the Company has increased its land
position at the Cali Project by staking an additional 9,681 hectares of contiguous claims within
the Little Nahanni Pegmatite District, Northwest Territories, Canada. The recently staked claims
have outcropping spodumene pegmatites which are the continuation of Cali dyke swarm that
LIFT has defined to date.
Lands to the northwest of LIFT’s current tenure became available following the Government of
Canada’s approval of an amendment to the Sahtú Land Use Plan (the Nááts'ı̨hch’oh
Amendments) in June of 2024. The amendment package allows new staking to be completed in
the area and was previously approved by the Sahtú Secretariat Incorporated and Government of
the Northwest Territories in 2019.
Figure 1 – Location of LIFT’s Cali Lithium Project (CLP). The CLP is located in the Mackenzie Mountains along the Northwest
Territories-Yukon border. The area is accessible by road and is located ~850 kilometers from rail in Fort Nelson, British Columbia.
Figure 2 – Location of the newly staked claims to the northwest of LIFT’s existing outcropping lithium pegmatites on the Cali
Project.
Francis MacDonald, CEO of LIFT comments, “Acquiring new areas through staking is the most
cost-effective way to increase a company’s land position. The newly staked ground has
outcropping spodumene deposits that are continuations of our existing deposits and increases
the overall size potential of the Cali Project”.
LIFT Provides Update on Acquisition of Shorty West Lithium Claim
LIFT announces that at the request of Infinity Stone Ventures Corp., it has terminated the mineral
property purchase agreement dated July 17, 2024 regarding the Shorty West Lithium mineral
claim (the “Claim”). In connection with the termination, beneficial ownership of the Claim, which
is adjacent to the Company’s Yellowknife Lithium Project, was transferred to an arm’s length
private entity. The Company has now entered into a mineral property purchase agreement dated
August [16] 2024 with that entity to acquire the Claim in consideration of the issuance 12,000
common shares, which is the same consideration which was offered to Infinity Stone. The shares,
once issued, will be subject to applicable resale restrictions under Canadian securities laws. The
completion of the acquisition is subject to the approval of the TSX Venture Exchange. No finder’s
fees are payable in connection with the acquisition.
LIFT Announces Issuance of DSUs
The Company announces that it has granted 7,544 deferred share units ( “DSUs”) to certain
independent directors of the Company in lieu of interim director fees previously paid in cash, at a
fair market value of $2.65 per DSU. The DSUs were granted pursuant to the Company’s Omnibus
Share Incentive Plan, which was approved by shareholders on February 13 th, 2024. Each DSU
represents the right to receive one common share in the share capital of the Company. The DSUs
will vest on August 31st, 2025, and are settled in accordance with the terms of the Share Incentive
Plan, a copy of which is available on the Company’s SEDAR+ profile .
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
Tel: + 1.604.609.6185 Tel: +1.604.609.6185
Email: [email protected] Email: [email protected]
Website: www.li-ft.com
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statements (collectively, “forward -looking statements”), including those identified by the
expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and
similar expressions to the extent they relate to the Company or its management. The forward -
looking statements are not historical facts but reflect current exp ectations regarding future
results or events. This press release contains forward looking statements. These forward-looking
statements and information reflect management's current beliefs and are based on assumptions
made by and information currently available to the company with respect to the matter described
in this new release.
Forward-looking statements involve risks and uncertainties, which are based on current
expectations as of the date of this release and subject to known and unknown risks and
uncertainties that could cause actual results to differ materially from those expressed or implied
by such statements. Additional information about these assumptions and risks and uncertainties
is contained under "Risk Factors a nd Uncertainties" in the Company's latest annual information
form filed on March 27, 2024, which is available under the Company's SEDAR + profile
at www.sedarplus.ca, and in other filings that the Company has made and may make with
applicable securities authorities in the future. Forward -looking statements contained herein are
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