Li-FT Power Ltd. report results from its summer 2023 exploration program at the Pontax Project and the Rupert Project, both in the James Bay region of Quebec. Pontax is comprised of 100%-owned ground and ground under option agreement with Harfang Exploration Inc. (?Harfang?). The summer 2023 surface exploration program was comprised of geologic mapping, prospecting, and glacial-sediment (till) sampling.

untill samples were processed to look for spodumene grains within the till. The results at Pontax revealed a 13 km by 6 km anomaly that has spodumene grain counts similar to untill down-ice of the Whabouchi lithium deposit, located approximately 2 km northeast of LIFT?s sampling. Additional spodumene anomalies were defined on the Rupert property where, importantly, background values have been well-defined.

Discussion of untill sampling program: untill sampling for geochemistry or indicator minerals has been used extensively in Canada and other regions previously covered by glaciers to make a number of discoveries beneath the transported sediment cover (e.g. Rainy River (Gold), Ekati (Diamonds), East Kemptville (Tin), Regnault (Gold), Casa Berardi (Gold), Blackwater (Gold)). In addition to new discoveries, many orientation surveys have been completed over previously discovered deposits that suggest a untill sampling program would have been a successful methodology if employed during early exploration phases (e.g. Meliadine (Gold), Madrid (Gold), Strange Lake (REE-Be), Lac des Isles (PGE)). The Pontax Project is located within an area that was inundated by the Tyrell Sea at the end of the last glaciation period.

The surficial sediment cover in the project area consists of untill overlain locally by Tyrrell Sea mud and reworked locally by littoral processes during subsequent regression of the sea (Hardy, 1976; Lamarche et al., 2018). Thick post-glacial organic wetland deposits cap the succession locally. The untill has a silty sand matrix, contains abundant locally sourced igneous and metamorphic clasts, and is ornamented by various types of streamlined landforms that trend southwest-northeast, including drumlins, crag-and-tails, and tongue-shaped landforms. untill samples were collected from topographic highs where untill outcrops can be found penetrating through the blanket of glaciomarine mud found in the lowlands.

The Rupert-Pontax spodumene grain count sampling program was designed to test areas with anomalous untill geochemistry for lithium. Samples were spaced at roughly 800 meters by 200 meters on the Rupert sampling grid, and at Pontax sample spacing along the line was 200 meters with sampling being taken where possible on topographic highs due to glaciomarine clay filling topographic lows. 10 kilograms of untill was collected from each sampling site and sent to Overburden Drilling Management for processing and spodumene grain counts.

Additional surface work completed in 2023: In addition to spodumene grain counts, LIFT collected 1,654 rock samples which returned lithium values of up to 0.56% Li2O (located within the Pontax Project). These values are not economic but are highly anomalous and indicate that a spodumene pegmatite system could be near by. Anomalous values of tantalum, cesium, beryllium, and tins are associated with increased lithium values, especially in the Pontax area.

One spodumene-bearing boulder was found within the spodumene grain anomaly down-ice of Whabouchi that returned 1.77% Li2O. This boulder is assumed to be transported from the Whabouchi deposit onto LIFT?s claim package and suggests that spodumene grains have also been transported from Whabouchi. 5,700 C-horizon matrix untill geochemistry samples were collected on newly acquired claims and areas not sampled in 2022.

untill geochemistry was used to vector into areas for additional sampling testing for the presence of spodumene grains within till. A VTEM-Magnetics survey was completed to the northeast of Power Nickel?s Lion Zone target. Power Nickel intersected 7.75 meters at 20.76 g/t Pt, 5.71 g/t Pd, 1.47% Cu, 13.1 g/t Ag, 0.28 g/t Au hosted within an ultramafic intrusive rock approximately 600 meters from LIFT?s claim boundary (see Power Nickel press release dated May 10, 2023).

The same ultramafic intrusive lithologies are present on LIFT?s claims. Processing of the VTEM-magnetics survey has defined conductive-magnetic bodies at depth which could be massive sulphides sulphide target similar to Power Nickel?s Wildcat discovery. LIFT is evaluating options to advance the target. Update on drilling completed in 2023: During the summer of 2023, LIFT completed 12 diamond drill holes (4,069 meters) to test lithium (+/- Ta-Sn-Nb) anomalies in untill geochemistry to the north of the Whabouchi lithium deposit.

All drill holes encountered granitic rocks with lithium values between 100-300 ppm, pegmatites with negligible lithium values, and mafic dykes that have are slightly enriched in lithium (300-700 ppm). No significant spodumene pegmatites were intersected and no additional drilling is warranted in that particular area.