LIFT Updates on Operations at the Yellowknife Lithium Project, NWT, Canada

Vancouver, British Columbia--(Newsfile Corp. - August 15, 2023) - Li-FT Power Ltd. (CSE: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") provides an update of operations at the Yellowknife Lithium Project (YLP), NWT:

Due to forest fire activity in the Northwest Territories, LIFT is temporarily demobilising personnel, essential equipment, and key drill core from Hidden Lake Camp. A small maintenance crew will remain in camp at this time. LIFT’s Hidden Lake Camp is not considered at immediate risk, however smoky conditions are interfering with routine drilling operations and winds are expected to present challenging conditions for fire-fighting crews over the coming days. LIFT is working with the Government of the Northwest Territories to support local fire-fighting efforts and has released a helicopter to assist in the campaign.

Francis MacDonald, CEO stated, "We are monitoring the fire situation closely and will resume normal operations as soon as possible. Our thoughts are with the people who have been evacuated from their homes and communities and with the fire crews that are working tirelessly to protect the Northwest Territories."

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 Field.

For further information, please contact:

Francis MacDonald
Chief Executive Officer
Tel: + 1.604.609.6185

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 are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

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