Li-FT Power - Advancing the Yellowknife Lithium Project in Canada's Northwest Territories

About Li-FT Power

Li-FT Power Ltd. (LIFT) is a Canadian mineral exploration company focused on acquiring, exploring, and developing lithium pegmatite projects in Canada. The company's flagship asset is the Yellowknife Lithium Project located near Yellowknife, capital of the Northwest Territories.

Li-FT Power holds three early-stage lithium exploration properties in Quebec and the Cali lithium project in the Northwest Territories. The company is listed on the Canadian Securities Exchange under the ticker LIFT and on the OTCQX as LIFFF.

Resuming Drilling at Yellowknife After Wildfire Disruption

On September 14, Li-FT Power announced it has resumed diamond drilling at the Yellowknife Lithium Project after wildfire activity near Yellowknife forced a suspension of activities in mid-August.

One drill rig has resumed work at the Echo target, part of the Further Afield group of pegmatites. Drilling activity will scale up to six rigs by September 16 and continue through October.

No damage occurred to any samples, equipment or infrastructure during the evacuation due to wildfires. Residents have now been welcomed back to Yellowknife after the threat from wildfires decreased.

Li-FT Power CEO Francis MacDonald thanked first responders, essential workers, various levels of government, and displaced residents for their efforts and resilience during the challenging wildfire situation.

The company is delighted to resume its highly successful exploration program at Yellowknife, which has intersected significant intervals of lithium mineralization.

Excellent Results from Fi Southwest and Shorty Pegmatites

On September 19, Li-FT Power released assays from five drill holes at the Fi Southwest, Shorty and BIG East pegmatites within the Yellowknife Lithium Project. The results included significant intervals of spodumene mineralization.

Highlights included:

• 34 m at 1.35% Li2O at Fi Southwest, including 27 m at 1.53% Li2O
• 12 m at 1.19% Li2O at Shorty, including 9 m at 1.46% Li2O
• 13 m at 1.05% Li2O and 11 m at 1.28% Li2O at BIG East
• 12 m at 1.05% Li2O and 16 m at 0.92% Li2O at BIG East

The Shorty pegmatite is an 800 m long moderately dipping dyke with an average width of 25 m. Drill hole YLP0036 intercepted 12 m grading 1.19% Li2O starting at 59 m downhole, including 9 m at 1.46% Li2O from 62 m. This intercept was in the mid-section of the dyke where it splits into three branches.

At the Fi Southwest dyke, hole YLP0038 intersected an impressive 34 m interval grading 1.35% Li2O from 67 m, including 27 m at 1.53% Li2O from 72 m. Hole YLP0041 at the south end of the dyke hit 31 m of pegmatite that was essentially barren.

The BIG East dyke swarm has surface exposure over 1,300 m as a 120 m wide corridor. Holes YLP0039 and YLP0045 were drilled 50 m apart under the central section of the swarm. Both holes intersected two mineralized dykes each.

YLP0039 returned 13 m at 1.05% Li2O starting at 66 m and 11 m at 1.28% Li2O from 111 m. YLP0045 hit 12 m averaging 1.05% Li2O from 66 m including 8 m at 1.51% Li2O, plus two other mineralized intercepts of 13 m and 16 m grading over 0.9% Li2O.

CEO MacDonald said the BIG East dyke swarm appears to contain more spodumene than expected based on its surface exposure, which could add significant tonnage.

The Yellowknife Lithium Project

Li-FT Power's flagship Yellowknife Lithium Project is located just east of Yellowknife and covers 25,000 hectares over 70 kilometers of strike length on the Ingraham Trail Highway. It lies within the Yellowknife Pegmatite Belt and is proximal to infrastructure including the highway, hydroelectric power, airport and skilled workforce.

The project encompasses eight known lithium pegmatite occurrences divided into the Road Access and Further Afield groups. The Road Access group along the highway is the current focus of drilling activities.

Initial field work in 2018 led to the discovery of five new dykes. In 2022, mapping delineated 18 spodumene-bearing pegmatite dykes, setting the stage for an inaugural drill program in 2023.

The phase 1 drill program comprised 43 holes totalling 5,169 metres and successfully intersected lithium mineralization over a strike length of 3.4 kilometres in the Finn, Jackpine, Fox and Wolf dykes. Results included 15 m at 1.10% Li2O and 7.80 m at 1.72% Li2O.

The phase 2 drill program launched in June 2023 aims to expand known mineralization and test additional targets. Prior to the wildfire-related disruption, 28 holes were completed totalling about 5,600 metres. With drilling now resumed, LIFT intends to complete at least 10,000 m in 30-40 holes by year-end.

In addition to the 18 known pegmatite dykes, there is strong potential for discovering more hidden dykes on the property through modern exploration techniques. Less than 3% of the project area has been systematically explored to date.

Conclusion

With drilling now back on track, Li-FT Power is poised to aggressively advance the Yellowknife Lithium Project over the remainder of 2023. The promising drill results released in September from Shorty, Fi Southwest and BIG East pegmatites further demonstrate the project's potential to host significant lithium mineralization.

The company is well funded, with approximately $12 million raised this year to support its exploration programs. Yellowknife is strategically positioned in a stable, mining-friendly jurisdiction with excellent infrastructure.

As drilling continues, investors can expect a steady news flow of assay results over the coming months. With lithium demand forecast to grow substantially in the electric vehicle revolution, Li-FT Power offers investors exposure to a potential new lithium discovery in a premier Canadian mining district.