Announcement • May 14
Li-FT Power Ltd. Reports Drilling Results At Yellowknife Lithium Project
Li-FT Power Ltd. reported results from the 2026 winter program completed at the Yellowknife Lithium Project, located outside the city of Yellowknife, Northwest Territories. This program comprised a total of 17 drill holes for 4,778 m, with results for eight holes (2,110 m) summarized in this news release and including the following highlights: YLP-0312: 26 m at 1.29% Li2O (BIG East) including 17 m at 1.65% Li2O; YLP-0313: 10 m at 1.12% Li2O (BIG East) and: 10 m at 0.68% Li2O including: 6 m at 1.03% Li2O; YLP-0324: 11 m at 1.04% Li2O (BIG East). All 17 holes were drilled in the BIG area of the YLP, with 16 drilled on the BIG East pegmatite complex and one hole drilled on its fault offset northern extension, referred to as BIG North. This program marks the first drill campaign in BIG area since publication of the mineral resource in October 2024. The BIG East pegmatite complex comprises a north-northeast trending corridor of parallel-trending dykes that is exposed for at least 1.8 km of strike length, ranges from 10-100 m wide, and dips approximately 55°-75° degrees to the west. Spodumene-bearing pegmatite occurs as either a single dyke 20-35 m wide, or as two to four dykes of similar cumulative thickness within corridors up to 65 m wide. The 2026 winter program extended along 1,000 m of strike length of the BIG East complex and reached depths of 50 to 300 m vertically below surface. YLP-0312 was drilled to test the northern part of the BIG East pegmatite approximately 150 m below surface and 100 m down-dip of previously released YLP-0058 (1.10% Li2O over 28 m in three dykes over 68 m). New drilling intersected a 26-m-wide pegmatite dyke that returned a wall-to-wall composite of 1.29% Li2O over 26 m, including 17 m averaging 1.65% Li2O. YLP-0308 was drilled an additional 100 m downdip of YLP-0312 to test mineralization at 250 m below surface, intersecting four pegmatite dykes totalling 45 m within a drilled width of 57 m, with negligible spodumene. YLP-0313 was collared 100 m north of YLP-0312, to test the BIG East complex at 150-200 m below surface and 100 m downdip of YLP-0251 (1.06% Li2O over 28 m). New drilling intersected 12-, and 10-m-wide dykes spaced 22 m apart, with the upper one returning 1.12% Li2O over 10 m and the lower one 0.68% Li2O over 10 m, including 6 m of 1.03% Li2O. Mineralization on this section remains open at depth. YLP-0322 was collared 50 m south of YLP-0063, previously the most southerly hole drilled on BIG East. New drilling aimed to test pegmatite at 100 m below surface and intersected seven dykes, between 1 and 11 m wide, that sum to 33 m of pegmatite in a drilled with of 75 m. Four of these dykes are spodumene-bearing, returning intersections of 1.15% Li2O over 9 m, 0.97% Li2O over 10 m, 0.57% Li2O over 5 m, and 0.53% Li2O over 2 m. Mineralization in this section is open along strike to the south and at depth. YLP-0324 was also drilled near the southern end of the BIG East complex, collared approximately 100 m northeast of YLP-0322 to test the corridor at 50 m below surface and 50 m up-dip of YLP-0068 (1.02% Li2O over 26 m). Drilling intersected 16 m of pegmatite in three dykes over 49 m of drill core, with the widest dyke returning 1.04% Li2O over 11 m. YLP-0310 and 0311 were drilled at the north end of the BIG East pegmatite to, respectively, test 100 m downdip of previously drilled holes YLP-0271 (1.34% Li2O over 35 m) and YLP-0267 (0.47% Li2O over 12 m in three dykes over 44 m). Both new drill holes intersected 20- to 30-m-wide pegmatite at their expected depths, with negligible spodumene. YLP-0316 was drilled to test the central part of the BIG East complex at approximately 250 m below surface and 100 m downdip of YLP-0117 (1.56% Li2O over 26 m). Drilling intersected a 22-m-wide pegmatite dyke at the expected depth, with negligible spodumene. The consolidated mineral resource estimate for Li-FT Power Ltd.'s Yellowknife Lithium Project covers 8 of 13 spodumene-bearing pegmatite dykes and totals 50.4 million tonnes at 1.00% Li2O for 506,000 tonnes of Li2O (1.25 million tonnes of LCE) in the inferred category. BIG East is the largest of the eight deposits included in the consolidated mineral resource estimate, containing 16.5 million tonnes grading 1.06% Li2O using a cutoff grade of 0.4% Li2O. The 2026 results improve geological understanding of the deposit and supports localized expansion of the current mineral resource estimate, including its southern extent where it remains open at depth and along strike. All 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. Visual core logging, mineralogical studies, and metallurgical work confirm that the predominant host mineral for lithium is spodumene. All drill core samples were collected under the supervision of Li-FT Power Ltd. 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 Li-FT Power Ltd.'s core logging facility to ALS Labs 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.
