Li-FT Power Ltd. reported assays from 8 drill holes completed at the Echo, Fi Main, Fi Southwest, & Fi Boye pegmatites within the Yellowknife Lithium Project located outside the city of Yellowknife, Northwest Territories. Drilling intersected significant intervals of spodumene mineralization. This news release provides results for eight drill holes (1,428 m), five of which are from the 2024 winter program and three from the 2023 drilling.

The five holes from the winter program were all drilled at the Echo pegmatite complex whereas the 2023 holes are from the Fi Main, Fi Southwest, and Fi Boye 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. The Echo pegmatite complex comprises a fanning splay of moderate to gently dipping dykes at its northwest end (?Echo splay?) that consolidates into a steeply dipping, northwest-trending, feeder dyke (?Echo feeder").

The dyke complex has a total strike length of over 1.0 km with individual dykes up to 25 m wide. The holes in this news release were all drilled into the Echo splay and are described from nearest to furthest from the Echo feeder dyke. YLP-0216 was collared 400 m northwest of the Echo feeder to test the Echo splay approximately 250 m from its northwestern mapped extent, <25 to 100 m below the surface, and 50 m downdip of previously released YLP-0128 (1.24% Li2O over 10 m and 1.20% Li2O over 5 m).

Drilling intersected an 87 m interval with 50 m of pegmatite spread over three dykes between 13-23 m in width. Assays returned significant composites for all three of these dykes, with the upper one returning 1.57% Li2O over 10 m, the middle dyke assaying 1.29% Li2O over 10 m, and the lower-most one returning 1.26% Li2O over 16 m. YLP-0207 tested the Echo splay on a section 50 m northwest of YLP-0216, approximately 450 m northwest of the Echo feeder, 200 m from its northwestern mapped extent, 25-50 m below the surface, and 100 m up-dip from YLP-0213 (see below). Drilling intersected a 65 m wide interval with 25 m of pegmatite spread over three dykes that are between 6-12 m wide.

Assays returned composites of 0.95% Li2O over 10 m from the upper-most dyke, which includes 5 m of 1.47% Li2O, as well as 0.79% Li2O over 1 m from the second dyke. YLP-0213 tested the same section as YLP-207 but with intersections targeted 50 m further downdip to 75-100 m below the surface. Drilling intersected two dyke corridors separated by 55 m of country rock.

The upper corridor is 66 m wide with 30 m of pegmatite spread over a 16 m wide dyke and five subsidiary dykes between 1-6 m in width. The lower corridor comprises a single dyke that is 23 m wide. Assays returned 1.20% Li2O over 14 m from the thick dyke in the upper corridor along with 0.59% Li2O over 1 m from one of the subsidiary dykes.

The lower corridor returned a composite of 0.73% Li2O over 15 m that includes 2 m of 1.43% Li2O. YLP-0211 was collared 100 m northwest of YLP-0213 to test the Echo splay approximately 550 m from the feeder dyke, 100 m from its northwest extent, 50-100 m below the surface, and 50 m downdip of YLP-0203 (1.24% Li2O over 13 m). Drilling intersected two intervals of increased pegmatite; an upper one that is 35 m wide with 20 m of pegmatite spread over three dykes between 4-10 m in width as well as a lower one that is 17 m wide and contains 13 m of pegmatite.

Assays for the upper interval returned 0.91% Li2O over 10 m and 0.54% Li2O over 6 m, the former including 4 m of 1.85% Li2O. The lower interval returned composites of 0.50% Li2O over 9 m and 0.50% Li2O over 4 m. YLP-0208 tested the tip of the Echo splay just 50 m from its northwest mapped extent, 600 m from the feeder dyke, 50-100 m below the surface, and 50 m downdip of YLP-0202 (0.90% Li2O over 3 m and 0.50% Li2O over 7 m). Drilling intersected a 58 m wide interval with 32 m of pegmatite spread over four dykes between 3-12 m in width.

Assay composites for the upper-most dyke returned 0.95% Li2O over 10 m that includes 6 m at 1.38% Li2O whereas the lower-most dyke returned 1.00% Li2O over 3 m. The Fi Main pegmatite is located 250 m to the northeast of the Fi-SW pegmatite complex and crops out over at least 1.5 km of strike length. The structure dips between 70°-85° to the west-northwest and consists of two or more dykes that appear to coalesce in the central part of the complex. YLP-0190 tested the Fi Main complex approximately 200 m north of the historically mapped northern end extent of the complex and 400 m north of the 2nd most northerly hole (YLP-0024) that returned 1.12% Li2O over 24 m. Drilling intersected a 126 m wide corridor with 31 m of pegmatite split among two 11 m wide dykes as well as five 1-3 m wide dykes.

No significant assay results were returned. The Fi Boye pegmatite comprises a corridor of mostly north-south striking, steeply east-dipping, dykes that run parallel to, and lie 500-700 m west of, the Fi Main complex. The Fi Boye corridor has at least 1.7 km of striking length, contains between 1-5 dykes, and ranges from approximately 10-200 m in width.

Only two holes were drilled on this dyke in 2023, one of which is reported below. YLP-0186 was drilled to test the Fi Boye dyke approximately 500 m from its northern mapped extent and 100 m beneath the surface. Drilling intersected a 25 m wide corridor with 21 m of pegmatite that returned negligible assay results.

The Fi SW dyke strikes over at least 1.1 km on surface with an average outcropping width of approximately 20 m. The dyke dips between 60°- 80° to the east-southeast and trends towards the north-northeast. Drilling of Fi SW show 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. YLP-0187 tested the Fi SW pegmatite approximately 150 m from its northern mapped extent and 250 m vertically below the surface, as well as 50 m, 125 m, and 200 m downdip of, respectively, previously released intersections that ranged between 1.2-1.5% Li2O over 12-23 m (YLP-0031, 0047, 0125).

Drilling intersected a 20 m wide pegmatite dyke that returned negligible grade.