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LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

VANCOUVER, British Columbia, Jan. 16, 2024 — Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV:LIFT) (OTCQX:LIFFF) (Frankfurt:WS0) is pleased to report assays from 8 drill holes completed at the BIG West, Nite, & Fi Main pegmatites within the Yellowknife Lithium Project (“YLP”) located outside the city of Yellowknife, Northwest Territories (Figure 1). Drilling intersected significant intervals of spodumene mineralization, with the following highlights:

Highlights:

  • YLP-0141: 27 m at 1.26% Li2O, (Fi Main)
  • YLP-0147: 22 m at 1.53% Li2O, (Fi Main)
  • YLP-0142: 10 m at 1.47% Li2O, (Nite)
  • YLP-0140: 5 m at 1.14% Li2O, (BIG-West)

David Smithson, SVP, Geology of LIFT comments, “The impressive near-surface high grade intercepts at Fi-Main confirm for the first time that grades and widths are improving to the North on the Fi-Main structure – We are very excited to get the drills back to this structure in the upcoming 2024 winter drill program to confirm how far, and to what depths these grades extend. The first holes into the southwest end of Nite have been equally impressive and are also very important as they show us that the grades and widths are also improving on the Nite structure as we move to the south – last summer we identified numerous dykes trending outward in this direction and so we are very excited to test these new zones for more grade and even better widths in 2024.”

Discussion of Results
This week’s drill results are for eight holes drilled on three different pegmatite complexes, including Fi Main (YLP-0141, 0147), Nite (YLP-0142), and BIG West (YLP-0140, 0143, 0144, 0146, 0156). 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.

li ft ylp location and roads v2 scaled LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

Figure 1 – Location of LIFT’s Yellowknife Lithium Project. Drilling has been thus far focused on the Road Access Group of pegmatites which are located to the east of the city of Yellowknife along a government-maintained paved highway, as well as the Echo target in the Further Afield Group.

Fi Main Pegmatite
The Fi Main pegmatite comprises a 10-100 m wide corridor of 1-5 dykes that dip between 70°-85° to the west-northwest and extends for at least 1,500 m on surface.

YLP-0141 tested the Fi Main pegmatite approximately 400 m from its northern mapped extent and 50 m vertically beneath the surface. Drilling at this site intersected a single 30 m wide pegmatite dyke that returned an assay composite of 1.26% Li2O over 27 m.

YLP-0147 was collared 200 m north of YLP-0141 to test the Fi Main pegmatite approximately 200 m from its mapped northern extent and 50 m vertically beneath the surface. Drilling intersected five pegmatite dykes over 83 m of core length, including a 28 m wide dyke and four 1-3 m wide dykes for a cumulative pegmatite width of 36 m. The thick dyke returned an assay composite of 1.53% Li2O over 22 m whereas the four thin dykes returned negligible grade (Table 1 and 2, Figures 2, 3 & 4).

individual drill plans yk fi gt nr 21 scaled LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

Figure 2 – Plan view showing the surface expression of the Fi Main pegmatite with diamond drill holes reported in this press release.

yellowknife sections nr21 fi 141 LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

Figure 3 – Cross-section illustrating YLP-0141 with results as shown in the Fi Main pegmatite dyke with a 27 m interval of 1.26% Li2O.

yellowknife sections nr21 fi 147 LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

Figure 4 – Cross-section illustrating YLP-0147 with results as shown in the Fi Main pegmatite dyke with a 22 m interval of 1.53% Li2O.

Nite Pegmatite

The Nite pegmatite complex comprises a north-northeast trending corridor of parallel-trending dykes that is exposed for at least 1,400 m of strike length, ranges from 10-200 m wide, and dips approximately 50°-70° degrees to the east.

YLP-0142 was designed to test the Nite pegmatite approximately 650 m from its southern mapped extent at 50 m vertically beneath the surface. Drilling intersected seven pegmatite dykes over 83 m of core length, comprising a 12 m wide dyke in addition to six 1-5 m wide dykes for cumulative pegmatite width of 29 m. The wider dyke returned an assay composite of 1.47% Li2O over 10 m whereas all six thinner dykes returned negligible grade (Table 1 & 2, Figures 5 & 6).

individual drill plans yk nite gt nr 21 scaled LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

Figure 5 – Plan view showing the surface expression of the Nite pegmatite with diamond drill hole reported in this press release.

yellowknife sections nr21 nite 142 LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

Figure 6 – Cross-section of YLP-0142 which intersected the Nite pegmatite dyke with a 10 m interval of 1.47% Li2O.

BIG West Pegmatite

The BIG West pegmatite complex comprises a northeast-trending corridor of parallel-trending dykes that is exposed for at least 1,500 m along strike and is steeply west dipping to subvertical. The complex is bound by two relatively continuous dykes that are approximately 50-100 m apart in the northern part of the complex and just under 150 m apart in the southern part. To facilitate description for drilling in the southern part of the complex, these dykes are referred to as the east bounding (EB) and west bounding (WB) dykes.

YLP-0140 tested the BIG West pegmatite (both EB and WB) approximately 450 m from its northern mapped extent and 25-50 m vertically below the surface. Drilling intersected five pegmatite dykes over 64 m of drill core, including a 16 m thick dyke and four 1-7 m wide dykes for cumulative pegmatite width of 31 m. One 7 m wide dyke returned a composite of 1.14% Li2O over 5 m whereas the other four, including the 16 m thick dyke, returned wall-to-wall composites averaging 0.1-0.2% Li2O.

YLP-0143 was designed to test the EB dyke approximately 100 m from its southern mapped extent and 50 m vertically beneath the surface. Drilling intersected a single 5 m wide pegmatite that returned negligible grade.

YLP-0146 was collared 50 m north of YLP-043 to test the EB dyke approximately 150 m from its southern mapped extent and 50 m vertically beneath the surface. Drilling intersected a 13 m wide pegmatite that returned an assay composite of 0.52% Li2O over 12 m, including 0.85% Li2O over 3 m.

YLP-0144 was drilled to test the WB dyke approximately 250 m from its southern mapped extent as well as 50 m vertically beneath the surface. The hole was abandoned 40 m above its target depth and so no pegmatite was intersected, and no samples were taken.

YLP-0156 was collared 100 m north of YLP-0144 to test the WB dyke approximately 350 m from its southern mapped extent and 50 m vertically beneath the surface. Drilling intersected four dykes over 44 m of core length, with all four ranging between 2-8 m in width for cumulative total of 20 m. Two of these dykes returned assay composites of 0.52% Li2O over 3 m and 0.61% Li2O over 3 m; the other two returned average grades of 0.1-0.2% Li2O (Table 1 and 2, Figure 7).

individual drill plans yk big w gt nr 21 scaled LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

Figure 7 – Plan view showing the surface expression of the BIG West pegmatite with diamond drill holes reported in this press release.

Table 1 – Assay highlights for drill holes reported in this press release.

liftttt LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

Drilling Progress Update

The Company has concluded its 2023 drill program at the Yellowknife Lithium Project with 34,238 m completed. Currently, LIFT has reported results from 148 out of 198 diamond drill holes (26,083 m).

General Statements

All eight holes described in this news release were drilled broadly perpendicular to the dyke orientation so that the true thickness of reported intercepts will range somewhere between 65-100% of the drilled widths. A collar header table is provided below.

Mineralogical characterization for the YLP- pegmatites is in progress through hyperspectral core scanning and X-ray diffraction work. Visual core logging indicates that the predominant host mineral is spodumene.

Table 2 – Drill collars table of reported drill holes in this press release

li ft LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT

QA/QC & Core Sampling Protocols

All drill core samples were collected under the supervision of LIFT employees and contractors. Drill core was transported from the drill platform to the core processing facility where it was logged, photographed, and split by diamond saw prior to being sampled. Samples were then bagged, and blanks and certified reference materials were inserted at regular intervals. Field duplicates consisting of quarter-cut core samples were also included in the sample runs. Groups of samples were placed in large bags, sealed with numbered tags in order to maintain a chain-of-custody, and transported from LIFT’s core logging facility to ALS Labs (“ALS”) laboratory in Yellowknife, Northwest Territories.

Sample preparation and analytical work for this drill program were carried out by ALS. Samples were prepared for analysis according to ALS method CRU31: individual samples were crushed to 70% passing through 2 mm (10 mesh) screen; a 1,000-gram sub-sample was riffle split (SPL-21) and then pulverized (PUL-32) such that 85% passed through 75 micron (200 mesh) screen. A 0.2-gram sub-sample of the pulverized material was then dissolved in a sodium peroxide solution and analysed for lithium according to ALS method ME-ICP82b. Another 0.2-gram sub-sample of the pulverized material was analysed for 53 elements according to ALS method ME-MS89L. All results passed the QA/QC screening at the lab, all inserted standards and blanks returned results that were within acceptable limits.

Qualified Person

The disclosure in this news release of scientific and technical information regarding LIFT’s mineral properties has been reviewed and approved by Ron Voordouw, Ph.D., P.Geo., Partner, Director Geoscience, Equity Exploration Consultants Ltd., and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (Geologist Registration number: L5245).

LIFT Receives Approval to Amend Land Use Permit & Water Licenses for the Yellowknife Lithium Project

LIFT is pleased to announce that it received approval for amendments to its Land Use Permit and Water licenses for the Yellowknife Lithium Project on December 12, 2023. The amendments allow LIFT to build a winter road from the Echo area to the all-season road that connects to Yellowknife, effectively creating an option for a road-based link between Echo to the global market. The amendment also allows LIFT to use additional water sources, enabling the Company to drill on all the leases associated with its Yellowknife Lithium Project.

About LIFT

LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company’s flagship project is the Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group.

For further information, please contact:

for further LIFT Intersects 27 m at 1.26% Li2O and 22 m at 1.53% Li2O at its Fi Main pegmatite, Yellowknife Lithium Project, NWT


Cautionary Statement Regarding Forward-Looking Information
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release.

Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under “Risk Factors and Uncertainties” in the Company’s latest annual information form filed on March 30, 2023, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Featured Image @ FreePik

Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, Li-FT Power Ltd. Market Jar Media Inc. has or expects to receive from Li-FT Power Ltd.’s Digital Marketing Agency of Record (Native Ads Inc.) ninety-six thousand five hundred American dollars for 26 days (20 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.’s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com.

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Li-FT Power Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Li-FT Power Ltd.’s industry; (b) market opportunity; (c) Li-FT Power Ltd.’s business plans and strategies; (d) services that Li-FT Power Ltd. intends to offer; (e) Li-FT Power Ltd.’s milestone projections and targets; (f) Li-FT Power Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) Li-FT Power Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Li-FT Power Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Li-FT Power Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Li-FT Power Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Li-FT Power Ltd.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Li-FT Power Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Li-FT Power Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Li-FT Power Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Li-FT Power Ltd.’s business operations (e) Li-FT Power Ltd. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Li-FT Power Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Li-FT Power Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Li-FT Power Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

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