• Li-FT Power intersects significant lithium mineralization at the Fi Southwest, Fi Main, and BIG East pegmatites at their Yellowknife Lithium Project.
• Best intervals include 37m at 1.22% Li2O at Fi Southwest, 16m at 1.24% Li2O at Fi Main, and 12m at 1.27% Li2O at BIG East.
• Drilling continues to expand known mineralization at all 3 pegmatites along strike and to depth.
• To date, 188 holes have been completed totaling over 30,000 metres. Assays have been reported for 62 holes so far.
• Carl Verley has departed as VP Exploration. His contributions are acknowledged.

Strong Assay Results Expand Mineralization at Yellowknife Lithium Project

Lithium exploration company Li-FT Power Ltd. announced significant drill results from its flagship Yellowknife Lithium Project in Canada's Northwest Territories. The latest assays come from three lithium-bearing pegmatite dykes called Fi Southwest, Fi Main and BIG East. This follows previous strong results released from their Yellowknife drill program.

The results expand the known mineralization at all three targets, which lie along the same geological trend east of Yellowknife. “Fi Southwest continues to deliver wide intersects with excellent grades to a vertical depth of 150 meters. BIG East has delivered another great result with the two branches of the dyke system totalling greater than 20 meters of dyke material at consistent grades. Fi Main has more variable grades but continues to expand in terms of overall tonnage,” said Li-FT CEO Francis MacDonald.

Highlights from the new drill holes include:

• 37 metres at 1.22% Li2O at Fi Southwest
• 16 metres at 1.24% Li2O at Fi Main
• 12 metres at 1.27% Li2O at BIG East

These results continue to demonstrate the potential to outline significant lithium resources along the known dykes. Since drilling began in March 2023, Li-FT has completed over 30,000 metres of diamond drilling in 188 holes across its Yellowknife ground.

Assay results have now been reported for 62 holes, highlighting the extensive work accomplished in a short timeframe. Drilling productivity has averaged over 170 metres per day, with 4-5 rigs operating steadily.

The pace of exploration reflects the tightening supply-demand outlook for lithium globally. Prices for lithium compounds have risen dramatically in the past two years, inducing growing investment interest in new production sources.

Fi Southwest Continuity Grows

Drill holes YLP0054 and YLP0061 both targeted the Fi Southwest pegmatite dyke. This is a steeply dipping dyke ranging 25-30 metres wide on surface. It has been traced over 900 metres in strike length and extends 200 metres down dip.

YLP0054 cut 37 metres grading 1.22% Li2O starting at 180 metres downhole depth. This is the widest high-grade intercept reported to date from Fi Southwest. It occurs 150 metres vertically below surface. The true thickness is estimated at 75-80% of the reported width.

YLP0061 was drilled 50 metres south of YLP0054, testing the dyke at 200 metres depth. It intersected a swarm of at least 10 thinner pegmatite dykes totaling a comparable 38 metres in width. Assays are pending.

The continuity of wide, mineralized pegmatite between the two drill holes highlights Fi Southwest as a priority resource target. Ongoing drilling aims to extend the mineralization further downdip and along strike.

According to Francis MacDonald, “Fi Southwest continues to deliver wide intersects with excellent grades to a vertical depth of 150 meters.”

Fi Main Grade Distribution Remains Variable

The Fi Main pegmatite zone comprises multiple subparallel dykes over widths of 10-100 metres. The dykes dip 70-85° northwest and have been traced over 1500 metres strike length to 200 metres depth.

Recent holes YLP0057 and YLP0062 tested the zone at 50 metres depth in the northern portion of the trend. YLP0057 returned 26 metres at 0.47% Li2O. YLP0062 cut 16 metres at 1.24% Li2O in a higher grade pod.

This variability is consistent with previous Fi Main results, reflecting the complex internal architecture of the dykes. Additional step-out drilling is planned to map out the distribution of high-grade pods within the broader pegmatite envelope.

According to the company, “Fi Main has more variable grades but continues to expand in terms of overall tonnage.”

BIG East Generates Another Wide High-Grade Intercept

The BIG East pegmatite zone comprises multiple parallel dykes over 35-80 metre widths. The dykes dip 65–70° west and have been mapped over 1000 metres strike and 200 metres depth.

Drill hole YLP0058 intersected five dykes totaling 32 metres width at BIG East. It cut the zone 100 metres vertically below surface, 200 metres north of the zone’s known limit. Highlight intercepts include 12 metres at 1.27% Li2O and 11 metres at 1.06% Li2O. True thicknesses are estimated at 90-95% of reported widths.

This continues a string of strong results generated by the ongoing drill program at BIG East. According to the company, “BIG East has delivered another great result with the two branches of the dyke system totalling greater than 20 meters of dyke material at consistent grades.”

Advancing a Flagship Asset in a Premier Mining District

Li-FT’s Yellowknife Lithium Project covers one of the world’s highest-grade and largest-known lithium resources outside the “Lithium Triangle” in South America. It is strategically located close to infrastructure in a top-tier mining jurisdiction.

With continued exploration success, Yellowknife has potential to be a flagship asset supporting Li-FT’s goal of becoming a major new supplier of battery-grade lithium compounds. Assay results reported to date indicate that all three focus areas have reasonable prospects for delivery of an initial mineral resource estimate.

Demand for lithium is projected to grow exponentially over the next decade, fueled by accelerating sales of electric vehicles worldwide. Prices for lithium have increased five-fold over the past two years in response. However, supply growth has lagged due to COVID-related delays. This supply shortfall is forecasted to widen as demand accelerates.

As an early mover in responding to the supply gap, Li-FT is positioned to benefit strongly from this macro dynamic. The pace of exploration activity highlights the urgency to advance Yellowknife quickly.

With C$35 million raised this March, the company has funding to continue its progress. The extensive dataset being compiled will support an initial resource estimate expected in 2024. Further exploration and engineering studies will advance the project towards a development decision.

The Investment Thesis for Li-FT Power

• Exposure to the high-growth lithium market through a large, high-grade project in a Tier-1 jurisdiction.
• Strategic location close to infrastructure with advantages for low-cost development.
• Potential to be a major new lithium supplier as demand surges higher.
• Accelerated timeline to production driven by tightening lithium market fundamentals.
• Fully funded through feasibility with C$35M raised in March 2023.
• Key catalysts upcoming include initial resource estimate in 2024.

With demand forecasts pointing to a growing shortfall in lithium supply versus electric vehicle demand, investors are seeking opportunities for exposure to this rapidly expanding market. Companies that can demonstrate potential to develop new lithium production capacity have seen strong interest.

Li-FT Power's exploration progress at its Yellowknife Lithium Project positions it well to benefit from this macro backdrop. The project's high-grade nature, strategic location and accelerated timeline provide a compelling investment case. As resource definition drilling continues through the fall, investors can look forward to several near-term catalysts including an initial resource estimate. Success on this front would mark a critical de-risking milestone on the path towards development of this outstanding lithium asset.