Li-FT Power Ltd. reported assays from 8 drill holes completed at the BIG West, Nite, Shorty, Fi Main & Fi Southwest pegmatites within the Yellowknife Lithium Project (?YLP?) located outside the city of Yellowknife, Northwest Territories. Drilling intersected significant intervals of spodumene mineralization, with the following highlights: Highlights: YLP-0125: 23 m at 1.50% Li2O, (Fi SW); YLP-0138: 12 m at 1.51%Li2O, (Nite); YLP-0135: 12 m at 1.04% Li2O, (BIG-West) including: 4 m at 1.62% Li2O; YLP-0134: 9 m at 1.07% Li2O, (BIG-West) including: 5 m at 1.65% Li2O. Discussion of Results: This week?s drill results are for eight holes drilled on five different pegmatite complexes, including the first hole from the Nite pegmatite (YLP-0138) as well as two holes from Fi Southwest (YLP-0125, 0130), three from BIG West (YLP-0134, 0135, 0139), and one each from Fi Main (YLP-0136) and Shorty (YLP-0133).

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. Fi Southwest Pegmatite: 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 mineralization occurs as 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 dip 60°-80° to the east-southeast. YLP-0125 tested the Fi SW pegmatite approximately 150 m from its northern mapped extent, 200 m vertically below the surface, and at 75 m and 150 m downdip, respectively, of previously released YLP-0031 (1.46% Li2O over 22 m) and YLP-0047 (1.15% Li2O over 12 m). Drilling intersected a 28 m pegmatite dyke that returned an assay composite of 1.50% Li2O over 23 m as well as six dykes between 1-7 m in core width that all returned negligible grade.

YLP-0130 was collared 100 m south of YLP-0125 to test the Fi SW pegmatite approximately 250 m from its northern mapped extent and 200 m vertically below the surface, as well as 50 m and 150 m downdip, respectively, of previously released YLP-0102 (1.14% Li2O over 26 m) and YLP-0042 (0.98% Li2O over 22 m). Drilling intersected a 34 m wide pegmatite dyke that returned an assay composite of 0.52% Li2O over 18 m that includes 1.25% Li2O over 4 m. Nite Pegmatite: The Nite pegmatite complex comprises a north-northeast trending corridor of parallel-trending dykes that is exposed for at least 1,300 m of strike length, ranges from 10-200 m wide, and dips approximately 50°-70° degrees to the east. YLP-0138 was designed to test the Nite pegmatite approximately 650 m from its northern and southern ends, as well as 50 m vertically beneath the surface.

Drilling intersected four pegmatite dykes over 51 m of core length, comprising a 14 m wide dyke as well as three 1-3 m wide dykes for cumulative pegmatite width of 20 m. The wider dyke returned an assay composite of 1.51% Li2O over 12 m whereas the thinner dykes returned negligible grade. Shorty Pegmatite The Shorty pegmatite is one of several dykes occurring within a north--northeast striking corridor. Drill intercepts at Shorty show that it in some places, the mineralized interval is formed by a single 10-25 m wide dyke whereas elsewhere it comprises 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-0133 was designed to test the Shorty pegmatite approximately 150 m from its southern mapped extent, 200 m vertically beneath the surface, and 50 m downdip of previously released YLP-0070 (no significant results). Drilling failed to intersect the downdip extension of YLP-0070 but did cut a 7 m wide pegmatite dyke near the surface that returned an assay composite of 0.69% Li2O over 5 m. BIG West Pegmatite: The BIG West pegmatite complex comprises a northeast-trending corridor of parallel dykes that is exposed for at least 1,500 m along strike, ranges from 50-150 m in width, and is steeply west-dipping to subvertical.

All three holes reported below were drilled near the southern mapped extent of the complex. YLP-0134 tested the BIG West pegmatite approximately 150 m from its southern mapped extent, 50 m vertically below the surface, and 50 m up-dip of previously released YLP-0131 (0.50% Li2O over 7 m). Drilling intersected a single 9 m wide pegmatite dyke that returned 1.07% Li2O over the full 9 m, including 1.65% Li2O over 5 m. YLP-0135 was collared 200 m north of YLP-0134 to test the BIG West pegmatite approximately 350 m from its southern mapped extent, to 50 m vertically beneath the surface, and 125 m up-dip of previously released YLP-0132 (no significant results).

Drilling intersected a single 18 m wide pegmatite dyke that returned an assay composite of 1.04% Li2O over 12 m, including 1.62% Li2O over 4 m. YLP-0139 was collared 50 m south of YLP-0134 to test the BIG West pegmatite approximately 100 m from its southern end and 50 m vertically beneath the surface. Drilling intersected a cumulative 8 m of pegmatite interleaved with country rocks over 15 m of core length that returned an assay composite of 0.57% Li2O over 8 m, including 1.02% Li2O over 4 m. 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 140 out of 198 diamond drill holes (24,674 m).