LIFFF News & Events

Harfang Exploration received notice from Li-FT Power of its decision to proceed with the second option in respect of the Pontax Property, located in Eeyou Istchee James Bay, Quebec. This Notice is pursuant to an option agreement signed between Harfang and LIFT dated July 20, 2022. LIFT previously exercised the first option and acquired an initial 51% interest in Pontax by paying Harfang an aggregate of $100,000 over a three-year period and incurring $1,650,000 in exploration expenditures over the same three-year period. LIFT has elected to accept the grant of the second option to acquire an additional 19% interest, for an aggregate 70% interest. According to the Agreement LIFT may exercise the second option by: paying Harfang an additional $50,000 in cash and/or common shares, at LIFT's discretion; incurring an additional $3,350,000 in exploration expenditures prior to the third anniversary of the exercise of the first option. The Company has settled the $50,000 payment by receiving 14,044 common shares of LIFT at a deemed price, in accordance with the Agreement, of $3.56 per share. The Consideration Shares are subject to a statutory hold period in accordance with applicable securities laws. Pursuant to the terms of the Agreement, if LIFT satisfactorily exercises the second option, Harfang can either convert its remaining 30% participating interest into a 2.5% net smelter returns royalty or form a joint venture to further explore Pontax.

LIFT announces that at the request of Infinity Stone Ventures Corp., it has terminated the mineral property purchase agreement dated July 17, 2024 regarding the Shorty West Lithium mineral claim. In connection with the termination, beneficial ownership of the Claim, which is adjacent to the Company's Yellowknife Lithium Project, was transferred to an arm's length private entity. The Company has now entered into a mineral property purchase agreement dated August [16] 2024 with that entity to acquire the Claim in consideration of the issuance 12,000 common shares, which is the same consideration which was offered to Infinity Stone. The shares, once issued, will be subject to applicable resale restrictions under Canadian securities laws. The completion of the acquisition is subject to the approval of the TSX Venture Exchange. No finder's fees are payable in connection with the acquisition.

Li-FT Power reports that the Company has increased its land position at the Cali Project by staking an additional 9,681 hectares of contiguous claims within the Little Nahanni Pegmatite District, Northwest Territories, Canada. The recently staked claims have outcropping spodumene pegmatites which are the continuation of Cali dyke swarm that LIFT has defined to date. Lands to the northwest of LIFT's current tenure became available following the Government of Canada's approval of an amendment to the Sahtu Land Use Plan in June of 2024. The amendment package allows new staking to be completed in the area and was previously approved by the Sahtu Secretariat Incorporated and Government of the Northwest Territories in 2019. Francis MacDonald, CEO of LIFT comments, "Acquiring new areas through staking is the most cost-effective way to increase a company's land position. The newly staked ground has outcropping spodumene deposits that are continuations of our existing deposits and increases the overall size potential of the Cali Project".