Li-FT Power Ltd. reported assays from 17 drill holes completed at the Echo, Fi Main, & Fi Southwest 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-0259: 43 m at 0.85% Li2O, (Echo): including: 24 m at 1.33% Li2O. YLP-0212: 16 m at 1.29%Li2O, (Echo): and: 5 m at 1.36% Li2O; and: 5 m at 1.19% Li2O; and: 1 m at 0.68% Li2O.

YLP-0237: 16 m at 1.31% Li2O, (Fi Main); YLP-0234: 13 m at 1.32% Li2O, (Echo); YLP-0228: 10 m at 1.36% Li2O, (Echo); YLP-0235: 10 m at 1.25% Li2O, (Echo); YLP-0229: 9 m at 1.28% Li2O, (Fi Main): and: 12 m at 0.54% Li2O. Discussion of Results: This news release provides results for 17 drill holes (3,729 m) from LIFT?s ongoing 2024 winter drilling program. Seven holes are reported from the Echo pegmatite complex, eight holes from Fi Main, and two from Fi Southwest (Fi-SW).

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. Echo Pegmatite System: The Echo pegmatite complex comprises a fanning splay of moderate to gently dipping dykes for 0.5 km to the northwest (?Echo splay?). In addition, the Echo Splay is connected to a steeply dipping, northwest-trending, feeder dyke (?Echo feeder?).

The dyke complex has a total strike length of over 1.0 km. The feeder dyke is 10-15 m wide whereas the gently dipping dykes in the splay are thicker, ranging from 10-25 m. Three (YLP-0259, 0212, 0220) holes were drilled on the Echo splay. YLP-0259 tested between the northeastern part of the splay approximately 150-200 m from where it merges, between 35-75 m below the surface, and stepped back 100 m and 150 m, respectively, from previously released drill holes YLP-0216 (1.35% Li2O over 36 m from 3 intervals in 78 m) and YLP-0128 (0.94% Li2O over 22 m from 2 intervals in 51 m).

New drilling intersected a 43 m wide pegmatite that returned a wall-to-wall grade of 0.85% Li2O that includes 24 m of 1.33% Li2O. There is no drilling along strike to the northwest of this intersection. YLP-0212 was drilled to test the Echo splay approximately 250-300 m from its merge zone with the feeder, <25 m to 100 m below the surface, and stepped back of 50 m from previously released YLP-0205 (1.03% Li2O over 23 m from 3 intervals in 56 m).

Drilling cut a 141 m interval with 45 m of pegmatite spread over seven dykes ranging between 1-21 m in width. Four of the thicker (6-21 m) dykes returned spodumene-bearing intercepts that form a combined composite of 1.26% Li2O over 27 m. YLP-0230 was drilled on the same section as YLP-0228 to test the Echo feeder at 75-100 m below the surface and 50 m downdip of YLP-0228. Drilling intersected mostly mafic dyke where the feeder dyke was expected in addition to a new pegmatite further down the hole, for 17 m of pegmatite within a 35 m interval.

Assays returned no significant grades. Fi Main Pegmatite: The Fi Main pegmatite complex crops out over at least 1.5 km of strike length within a north-south striking corridor that dips between 70°-85° to the west. The central 800-900 m of the complex can be split into a northern part where most pegmatite occurs in a single 25-30 m thick dyke and a southern part where this dyke splits into upper and lower pegmatites that then remerge 450 m further south.

The width of the Fi Main corridor ranges from 25-75 m where it is dominated by a single dyke and between 75-150 m where it is split into two. Two (YLP-0237, 0214) holes were drilled where the Fi Main dyke is split into an upper and lower zone, with YLP-0237 drilled to test the upper and lower pegmatites at 25 m and 100 m below the surface, respectively. This hole was collared along strike and 50 m south of previously released YLP-0013 (0.65% Li2O over 14 m) and 50 m north of YLP-0018 (0.81% Li2O over 19 m from two intervals, 59 m apart).

New drilling intersected 13 pegmatite dykes over 199 m of drill core, with dykes ranging from 1-17 m in width and spaced between 5-20 m apart. The thickest of these correlates with the upper zone and returned a composite of 1.31% Li2O over 16 m. YLP-0229 was drilled on a section located 50 m south of the section with YLP-0224. Drilling intersected a 109 m wide corridor with 46 m of pegmatite spread over seven dykes between 2-17 m in width.

The two thickest dykes (9 m and 17 m) likely represent the remerging upper and lower pegmatites and returned a combined composite of 0.86% Li2O over 21 m. Mineralization in this area is open at depth and to the south. YLP-0214 was collared on a section 50 m north of YLP-0237 to test the upper and lower pegmatites at approximately 100-200 m beneath the surface. Previously released drilling on the same section returned 0.65% Li2O over 14 m (YLP-0013) from 50 m below the surface but negligible results at 250 m depth (YLP-0022).

New drilling aimed for an intermediate depth between these two holes, intersecting three swarms of pegmatite dykes each about 50-100 m apart and including an 83 m corridor with 31 m of pegmatite and a 29 m corridor with 25 m of pegmatite. All assays, however, returned negligible Li2O. YLP-0218 was collared near where the single thick Fi Main dyke splits into the upper and lower pegmatites and on a section 100 m north of YLP-0214.

Drilling was designed to test the Fi Main dyke at 150 m beneath the surface as well as 75 m downdip of previously released YLP-0015 (1.00% Li2O over 27 m) and 125 m downdip of YLP-0009 (0.49% Li2O over 12 m). New drilling intersected a 23 m wide pegmatite at 150 m vertically beneath the surface but failed to return significant Li2O assays. A 3 m wide dyke intersected 125 m outboard of the main dyke returned 0.81% Li2O over 1 m.