Li-FT Power Ltd. report assays from 8 drill holes completed at the Fi Southwest, BIG West, Nite, & Fi Boye 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: This week's drill results are from 1,325 m drilled across eight holes, including the first hole of the 2024 winter program at Fi Southwest as well as 2023 results from the Nite, BIG West, 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 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 shows 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-0199 is the first hole drilled in the 2024 winter program and was collared to test the Fi SW pegmatite approximately 150 m from its northern mapped extent and 50 m beneath the surface.

Drilling intersected 4 m and 15 m wide pegmatites separated by 3 m of country rock with assays returning a wall-to-wall composite of 1.05% Li2O over 22 m that includes 9 m of 1.87% Li2O. 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 and dips approximately 50°-70° degrees to the east. The northern part of this complex consists of a main dyke flanked by one or more thinner dykes whereas the southern part comprises a fanning splay of 5-10 thinner dykes that is up to 200 m wide.

YLP-0192 explored the Nite pegmatite approximately 400 m from its northern end, 150 m beneath the surface, and 100 m downdip of previously released YLP-0152 (1.24% Li2O over 5 m). Drilling intersected five pegmatite dykes ranging from 1-7 m wide for cumulative pegmatite of 19 m over 45 m of core. The deepest of these three dykes returned 0.87% Li2O over 6 m that includes 2 m of 1.99% Li2O.

YLP-0195 was drilled on a section 300 m south of YLP-0192 to test the Nite pegmatite 700 m from its northern end, 250 m beneath the surface, and 200 m downdip of YLP-0138 (1.51% Li2O over 12 m). New drilling intersected a 17 m wide dyke flanked by several 1-8 m dykes for cumulative 28 m of pegmatite over 59 m of core. Sampling of the thick dyke returned an assay composite of 1.00% Li2O over 15 m that includes subintervals of 1.42% Li2O over 2 m and 1.26% Li2O over 8 m. 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 dyke structures that are 50-100 m apart in the northern half of the corridor and 150 m apart in the south. These dykes are here referred to as the east- (EB) and west-bounding (WB) dykes. This week's results are described from southern- to northern-most.

YLP-0180 tested the WB dyke approximately 450 m from its southern mapped extent and <25 m beneath the surface, as well as 50 m and 100 m up-dip of previously released holes (YLP-0160, 0164) that both returned negligible grades. Drilling intersected a single 11 m wide pegmatite dyke that returned an assay composite of 0.54% Li2O over 5 m, which includes 1 m of 1.60% Li2O. YLP-0185 was collared just west of the EB dyke and 200 m from the northern mapped extent of the BIG West complex to target the WB dyke approximately 50 m beneath the surface and 100 m up-dip of YLP-0191 .

Drilling intersected a single one-metre-wide pegmatite dyke that returned negligible grade. YLP-0191 was drilled on the same section as YLP-0185 but was collared just east of the EB dyke, so that it tested this dyke within 25-50 m of the surface and the WB dyke at 150 m depth. Drilling shows that these bounding dykes are separated by -100 m of country rock, with the EB dyke comprising two 11-12 m dykes flanked by 2-3 m wide dykes for cumulative 28 m of pegmatite over 70 m of drill core whereas WB comprises a single 27 m wide dyke.

Significant assays were returned only from the EB dyke and includes composites of 0.74% Li2O over 11 m (including 1.48% Li2O over 4 m) and 0.54% Li2O over 12 m (with 1.44% Li2O over 3 m). YLP-0183 is the most northerly hole drilled on the BIG West complex in 2023, just -150 m from its northern mapped extent and targeting the EB dyke within 25 m of the surface. Drilling intersected a 13 m wide dyke flanked by several 1-7 m wide dykes for 33 m of pegmatite over 69 m of drill core.

Assays from the thick dyke returned a composite of 0.51% Li2O over 6 m that includes a 1 m interval of 1.16% Li2O whereas the flanking dykes returned negligible grade. 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.

The two holes reported below comprise all the drilling done on Fi Boye in 2023. YLP-0189 was drilled to test the Fi Boye dyke approximately 200 m from its northern mapped extent and 50 m beneath the surface. Drilling intersected a 14 m wide dyke flanked by several 1- 2 m wide dykes for cumulative pegmatite of 16 m over 31 m. The thick dyke returned an assay composite of 1.11% Li2O over 4 m. The Company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238 m completed.

Currently, LIFT has reported results from 189 out of 198 diamond drill holes (33,309 m).