Li-FT Power Ltd. reported assays from 8 drill holes completed at the Fi Main, BIG West, Nite, & Ki pegmatites within the Yellowknife Lithium Project (?YLP?) located outside the city of Yellowknife, Northwest Territories. Drilling intersected significant intervals of spodumene mineralization. This week?s drill results are for eight holes drilled on four separate pegmatite complexes, including Fi Main (N = 1), Nite (N = 3), BIG West (N = 2), and Ki (N = 2).

Fi Main Pegmatite: The Fi Main pegmatite comprises a 10-100 m wide corridor of 1-5 dykes that dip between 70°-85° to the west-northwest and extends for at least 1.5 km on surface. YLP-0148 tested the Fi Main pegmatite approximately 300 m from its northern mapped extent, 50 m vertically beneath the surface, and 250 m up-dip from YLP-0020 (0.49% Li2O over 5 m). Drilling at this site intersected a single 31 m wide pegmatite dyke that returned an assay composite of 1.40% Li2O over 23 m. 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, ranges from 10-200 m wide, and dips approximately 50°-70° degrees to the east.

YLP-0145 was designed to test the Nite pegmatite approximately 500 m from its northern mapped extent, <25 m vertically beneath the surface, and 50 m up-dip from YLP-0149. Drilling intersected three pegmatite dykes from the base of overburden (B-OVB) to 40 m core depth, ranging from 2-13 m in width for cumulative pegmatite width of 18 m. The widest dyke returned an assay composite of 1.28% Li2O over 10 m whereas another dyke, intersected from B-OVB to 4 m depth, returned 1.26% Li2O over 3 m. YLP-0149 was designed to test the Nite pegmatite on the same section as YLP-0145 but at 50 m further downdip. Drilling intersected four pegmatite dykes ranging from 1-11 m in width for cumulative pegmatite width of 27 m over 43 m of core length.

The three widest dykes, from upper- to lower-most, returned assay composites of 1.04% Li2O over 5 m, 1.04% Li2O over 1 m, and 0.78% Li2O over 10 m, the latter including 1.15% Li2O over 5 m. YLP-0182 was designed to test the Nite pegmatite approximately 600 m from its southern mapped extent, 250 m vertically beneath the surface, and 200 m down-dip of YLP-0142 (1.47% Li2O over 10 m). Drilling intersected four pegmatite dykes over 39 m core width, ranging from 2-14 m in width for cumulative pegmatite width of 31 m. The widest dyke returned an assay composite of 1.38% Li2O over 11 m whereas the other three dykes averaged 0.1-0.3% Li2O over core widths ranging from 2-10 m. 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 dykes that are approximately 50-100 m apart in the north half and just under 150 m apart in the southern part.

To facilitate description, these dykes are here referred to as the east bounding (EB) and west bounding (WB) dykes. YLP-0151 tested the BIG West EB dyke approximately 150 m from its southern mapped extent, 150 m vertically below the surface, and 100 m down-dip of YLP-0146 (0.52% Li2O over 12 m). Drilling intersected five pegmatite dykes over 83 m of drill core, including a 15 m thick dyke and four 2-4 m wide dykes for cumulative pegmatite width of 27 m. The 15 m wide dyke returned a wall-to-wall composite of 0.18% Li2O over 15 m that includes 0.62% Li2O over 1 m. All other dykes averaged <0.1% Li2O.

YLP-0153 was designed to test the WB dyke approximately 350 m from its southern mapped extent and <25 m vertically beneath the surface, as well as 50 m up-dip from YLP-0135 (1.04% Li2O over 12 m) and 100 m up-dip of YLP-0132 (no significant intercept). Drilling intersected a single 16 m wide pegmatite extending from the base of overburden (B-OVB) to 18 m depth that returned an assay composite of 0.99% Li2O over 9 m. Ki Pegmatite: The Ki pegmatite is one of several subparallel dykes occurring within a north-of-northwest trending corridor. Drill intercepts typically comprise a thick ?main?

dyke flanked by one or more narrower (1-5 m wide) dykes although, in places, it is formed by 2-6 dykes of similar cumulative thickness spread over up to 80 m of core length. The Ki dyke is visible for at least 1.0 km on surface and dips between 65°-80° to the southwest. YLP-0155 tested the Ki pegmatite approximately 300 m from its southern mapped extent and 100 m vertically beneath the surface, as well as 50 m down-dip of YLP-0096 (1.38% Li2O over 12 m) and 100 m downdip of YLP-0069 (0.96% Li2O over 10 m).

Drilling intersected seven pegmatite dykes over 96 m of core length, with individual dykes spaced ~7-14 m from adjacent dykes and ranging from 1-15 m in width for cumulative pegmatite width of 31 m. All wall-to-wall assay composites returned =0.1% Li2O. YLP-0161 tested the Ki pegmatite approximately 400 m from its southern mapped extents, 150 m vertically beneath the surface, and 100 m down-dip of YLP-0110 (1.00% Li2O over 7 m and 1.13% Li2O over 10 m). Drilling intersected three swarms separated by 50-70 m core lengths, with each swarm comprising 1-4 m of pegmatite over 1-20 m. All wall-to-wall assay composites returned <0.1% Li2O The Company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238 m completed.

Currently, LIFT has reported results from 156 out of 198 diamond drill holes (27,493 m).