LIFT Announces Commencement of Drilling at the Yellowknife Lithium Project, NWT

VANCOUVER, British Columbia, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce commencement of drilling, at the Yellowknife Lithium Project (YLP) in the Northwest Territories Canada (Figure 1).

^{Figure 1 – Location of LIFT’s Yellowknife Lithium Project (YLP) in the NWT.}

Proposed 2026 Drill Program

A 6,770m resource drill program is planned for the BIG East spodumene pegmatite (Figure 2), building on strong results delivered during the 2023 and 2024 resource drill campaigns. The program is designed to step out from high-grade spodumene mineralisation that remains open along-strike and down-dip from the limits of 2023-24 drilling, including 26m of 1.56% Li₂O, 22m of 1.35% Li₂O, and 35m of 1.34% Li₂O (Figures 5 to 7). Diamond drill holes are planned on 100m spaced sections (Figure 4) with the objective of building on the current BIG East inferred spodumene resource, which currently represents approximately one third of the global resource tonnes at YLP. LIFT’s technical team believes the BIG East deposit demonstrates strong expansion potential and has the capacity to add significant additional tonnes to the YLP global mineral resource, with results expected to be incorporated into a Preliminary Economic Assessment (PEA) scheduled for release in 2027.

^{Figure 2 – Location of the 2026 work area on the BIG East pegmatite within the YLP.}

BIG East deposit description

The BIG East pegmatite complex comprises a north-northeast trending corridor of parallel trending dykes that is exposed for at least 1,500m of strike length, with the northeast end displaced to the north ~350m (Figure 3 & 4). The width of the dike corridor ranges from 20-100 m and dips 55°-75° to the west. The 2023 and 2024 drilling tested 1200m of strike length, to a vertical depth between 150m and 250m from surface. The 2026 drill plan is composed of 26 resource holes (6,770m), with 24 of those holes (6,480m) planned for the main dike corridor and two holes (290m) planned at the Northeast extension (Figure 4). Drill holes are designed to extend spodumene intercepts that remain open at the limits of the 2023 and 2024 drilling to a vertical depth of ~300m (Table 1). Cross-section examples of the BIG East geometry and planned drill holes with 2023-24 results, are shown on section as Figures 5 to 7, and include 1.56% Li₂O over 26m in YLP-0117 (Figure 5), 1.35% Li₂O over 22m in YLP-0077 (Figure 6), and 1.34% Li₂O over 35m in YLP-0271 (Figure 7). The two holes at the northern extension of the BIG East pegmatite dyke swarm step out from in YLP-0079 (1.29% Li₂O over 15m) and YLP-0059 (1.04% Li₂O over 12m).

^{Figure 3 – Current BIG East In-pit resource block model.}

Table 1 Drill hole locations for the 2026 Yellowknife Lithium Project drill program. All coordinates in NAD83 Z12.

^{Figure 4 – Plan map showing BIG East tenure boundary, pegmatite dykes, 2023-2024 drill collars, and 2026 proposed holes and sections.}

^{Figure 5 – Section A-A’ looking NW and showing the BIG East dyke, results from 2023-2024 drilling, and proposed 2026 drill traces.}

^{Figure 6 – Section B-B’ looking NW and showing the BIG East dyke, results from 2023-2024 drilling, and proposed 2026 drill trace.}

^{Figure 7 – Section C-C’ looking NW and showing the BIG East dyke, results from 2023-2024 drilling, and proposed 2026 drill trace.}

Francis MacDonald, President & CEO of LIFT comments, “We are excited to be starting the 2026 drill program at BIG East. The BIG East deposit delivered outstanding high-grade results and significant tonnes in 2023-24– we believe the deposit will continue on this trend into the 2026 drilling, with results forming a key part of the Preliminary Economic Assessment planned for release in 2027.”

Qualified Person

The disclosure in this news release of scientific and technical information regarding LIFT’s mineral properties has been reviewed and approved by Ron Voordouw, Ph.D., P.Geo., Partner, Director Geoscience, Equity Exploration Consultants Ltd., and consultant to Li-FT Power Ltd. A Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) as well as a member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (Geologist Registration number: L5245).

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 Group.

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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 and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release.

Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in the Company's latest annual information form filed on March 21, 2025, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.

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Figure 1

Location of LIFT’s Yellowknife Lithium Project (YLP) in the NWT.

Figure 2

Location of the 2026 work area on the BIG East pegmatite within the YLP

Figure 3

Current BIG East In-pit resource block model

Figure 4

Plan map showing BIG East tenure boundary, pegmatite dykes, 2023-2024 drill collars, and 2026 proposed holes and sections

Figure 5

Section A-A’ looking NW and showing the BIG East dyke, results from 2023-2024 drilling, and proposed 2026 drill traces.

Figure 6

Section B-B’ looking NW and showing the BIG East dyke, results from 2023-2024 drilling, and proposed 2026 drill trace

Figure 7

Section C-C’ looking NW and showing the BIG East dyke, results from 2023-2024 drilling, and proposed 2026 drill trace