LIFT Identifies Thousands of Spodumene Grains in an Indicator Mineral Study at the Nottaway Lithium Project, Quebec

The most recent news release, dated December 10, 2025, announces that Li-FT Power Ltd. (LIFT) has identified thousands of spodumene grains in an indicator mineral study at its Nottaway Lithium Project in Quebec. The study revealed a 1 x 3 km area with elevated spodumene grain counts, with the highest sample returning 2,000 grains. The CEO, Francis MacDonald, described the tenor of these counts as "exceptional," rarely seen in Canadian glacial sediments, indicating potential for a concealed pegmatite system.

The release also details an option agreement for the Nottaway Project, effective January 31, 2025. Li-FT Power can acquire the project by making cash payments of $30,000 (on signing), $50,000 (by 1st anniversary), and $500,000 (by 2nd anniversary). Additionally, exploration expenditures of $50,000 (by 1st anniversary) and $200,000 (by 2nd anniversary) are required. The agreement also includes a 1% Net Smelter Royalty (NSR) on the property, with 0.5% buyable for $500,000.

The identification of significant spodumene grain counts at the Nottaway Lithium Project is a positive development, indicating a legitimate early-stage exploration target. The CEO's strong endorsement highlights the potential significance of these results for the project's future. This news adds another promising prospect to Li-FT's exploration pipeline, diversifying its geographical footprint beyond the Northwest Territories.

However, it is crucial to recognize that an indicator mineral study, while encouraging, is still very early-stage exploration. It suggests potential but does not define a resource or confirm economic viability. It will require substantial follow-up work, including drilling, to delineate any actual lithium-bearing pegmatites. The option agreement terms are relatively low-cost initially, which is prudent for an early-stage project and minimizes immediate financial risk.

In the context of the company's overall development, Li-FT has been actively advancing several projects: * Yellowknife Lithium Project: Already has an Inferred resource (50.4 Mt @ 1.00% Li2O), undergoing environmental baseline studies for permitting, and a drilling program commenced in August 2025 to expand the resource. Positive metallurgical testwork results (up to 98% Li extraction) were reported in April 2025. * Cali Lithium Project: Showed very strong channel sampling results in October 2025 (e.g., 3m @ 2.43% Li2O, 21m @ 1.26% Li2O), positioning it for future resource delineation. * Pontax Lithium Project: A 5,000m drilling program commenced in April 2025 based on extensive spodumene-in-till anomalies, and the company elected to increase its interest to 70% in September 2025. * Nottaway Lithium Project: This new news item places Nottaway as another early-stage prospect, adding to the portfolio's breadth.

The appointment of Anthony Tse as Executive Chairman in July 2025, with his extensive experience in the lithium sector, suggests a strategic focus on accelerating project advancement and potentially M&A.

From a financial perspective, Li-FT's cash position has been steadily declining. As of August 31, 2025, cash and cash equivalents stood at $10.5 million, down from $21.0 million in November 2024. While the sale of Rupert claims provided $700,000 in cash and $6.96 million in shares (valued as of July 2025), exploration expenditures remain high ($8.3 million for the 9 months ended Aug 31, 2025). The company has a shelf prospectus for up to $200 million in place, which provides the flexibility for future financings as needed. The low initial commitments for Nottaway are suitable for the current cash runway.

Overall, the Nottaway news is positive for the project pipeline, but its early stage means it does not represent a material change to the company's immediate valuation or operational status compared to the ongoing work at Yellowknife, Cali, or Pontax. It is a routine but encouraging exploration update.

Li-FT Power Ltd. (LIFT) is a Canadian exploration company focused on the discovery and development of lithium pegmatite projects. The company's strategy involves exploring a portfolio of lithium properties in proven and emerging lithium districts.

Flagship Project & Development: Li-FT's most advanced project is the Yellowknife Lithium Project (YLP) in the Northwest Territories, Canada. * Development Stage: The project currently hosts an Inferred Mineral Resource of 50.4 million tonnes at a grade of 1.00% Li2O, containing 506,000 tonnes of Li2O or 1.25 million tonnes of Lithium Carbonate Equivalent (LCE), making it one of the largest spodumene projects in North America. * Recent Activities: The company has been actively conducting environmental baseline studies (commenced April 2025, first full year completed October 2025) essential for future permitting and mine planning. A drilling program focusing on expanding the resource base at the Shorty and Nite dikes began in August 2025. Preliminary metallurgical testwork in April 2025 showed high lithium extraction rates (up to 98%), validating the quality of the spodumene concentrate.

Other Key Projects: * Cali Lithium Project (NWT): Showed promising high-grade channel sampling results in October 2025, with plans for trenching and metallurgical testing. * Pontax Lithium Project (Quebec): Located in the James Bay region. Extensive spodumene-in-till anomalies led to a 5,000m drilling program commenced in April 2025. The company increased its interest to 70% in September 2025. * Nottaway Lithium Project (Quebec): The subject of the most recent news, this is an early-stage exploration project with positive indicator mineral results. * DeStaffany, LDG, & Mackay Lithium Projects (NWT): Acquired in January 2025 from North Arrow Minerals Inc., these projects further consolidate Li-FT's position in the NWT and offer additional resource expansion potential.