Li-FT Power Ltd. (?LIFT? or the ?Company?) reported assays from 8 drill holes completed at the BIG West, Nite, & Fi Main 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-0141: 27 m at 1.26% Li2O, (Fi Main); YLP-0147: 22 m at 1.53% Li2O, (Fi Main); YLP-0142: 10 m at 1.47% Li2O, (Nite); and YLP-0140: 5 m at 1.14% Li2O, (BIG-West).

Discussion of Results: This week?s drill results are for eight holes drilled on three different pegmatite complexes, including Fi Main (YLP-0141, 0147), Nite (YLP-0142), and BIG West (YLP-0140, 0143, 0144, 0146, 0156). 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 1,500 m on surface. YLP-0141 tested the Fi Main pegmatite approximately 400 m from its northern mapped extent and 50 m vertically beneath the surface.

Drilling at this site intersected a single 30 m wide pegmatite dyke that returned an assay composite of 1.26% Li2O over 27 m. YLP-0147 was collared 200 m north of YLP-0141 to test the Fi Main pegmatite approximately 200 m from its mapped northern extent and 50 m vertically beneath the surface. Drilling intersected five pegmatite dykes over 83 m of core length, including a 28 m wide dyke and four 1-3 m wide dykes for a cumulative pegmatite width of 36 m. The thick dyke returned an assay composite of 1.53% Li2O over 22 m whereas the four thin dykes returned negligible grade. Nite Pegmatite: The Nite pegmatite complex comprises a north-northeast trending corridor of parallel-trending dykes that is exposed for at least 1,400 m of strike length, ranges from 10-200 m wide, and dips approximately 50°-70° degrees to the east.

YLP-0142 was designed to test the Nite pegmatite approximately 650 m from its southern mapped extent at 50 m vertically beneath the surface. Drilling intersected seven pegmatite dykes over 83 m of core length, comprising a 12 m wide dyke in addition to six 1-5 m wide dykes for cumulative pegmatite width of 29 m. The wider dyke returned an assay composite of 1.47% Li2O over 10 m whereas all six thinner dykes returned negligible grade. BIG West Pegmatite: The BIG West pegmatite complex comprises a northeast-trending corridor of parallel-trending dykes that is exposed for at least 1,500 m 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 northern part of the complex and just under 150 m apart in the southern part. To facilitate description for drilling in the southern part of the complex, these dykes are referred to as the east bounding (EB) and west bounding (WB) dykes. YLP-0140 tested the BIG West pegmatite (both EB and WB) approximately 450 m from its northern mapped extent and 25-50 m vertically below the surface.

Drilling intersected five pegmatite dykes over 64 m of drill core, including a 16 m thick dyke and four 1-7 m wide dykes for cumulative pegmatite width of 31 m. One 7 m wide dyke returned a composite of 1.14% Li2O over 5 m whereas the other four, including the 16 m thick dyke, returned wall-to-wall composites averaging 0.1-0.2% Li2O. YLP-0143 was designed to test the EB dyke approximately 100 m from its southern mapped extent and 50 m vertically beneath the surface. Drilling intersected a single 5 m wide pegmatite that returned negligible grade.

YLP-0146 was collared 50 m north of YLP-043 to test the EB dyke approximately 150 m from its southern mapped extent and 50 m vertically beneath the surface. Drilling intersected a 13 m wide pegmatite that returned an assay composite of 0.52% Li2O over 12 m, including 0.85% Li2O over 3 m. YLP-0144 was drilled to test the WB dyke approximately 250 m from its southern mapped extent as well as 50 m vertically beneath the surface. The hole was abandoned 40 m above its target depth and so no pegmatite was intersected, and no samples were taken.

YLP-0156 was collared 100 m north of YLP-0144 to test the WB dyke approximately 350 m from its southern mapped extent and 50 m vertically beneath the surface. Drilling intersected four dykes over 44 m of core length, with all four ranging between 2-8 m in width for cumulative total of 20 m. Two of these dykes returned assay composites of 0.52% Li2O over 3 m and 0.61% Li2O over 3 m; the other two returned average grades of 0.1-0.2% Li2O. 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 148 out of 198 diamond drill holes (26,083 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. 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.