LIFT Secures Land Use Permit for its Cali Project in the Northwest Territories

Rhea-AI Summary

Li-FT Power Ltd. (LIFT) has obtained a Type A Land Use Permit from the Mackenzie Valley Land and Water Board for its Cali project in Northwest Territories. The Permit allows the Company to expand exploration activities, establish an exploration camp, conduct drilling, and construct winter access roads. The Permit has a term of five years, extendable for two more years.

VANCOUVER, British Columbia, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce that it has obtained a Type A Land Use Permit from the Mackenzie Valley Land and Water Board for its Cali project in Northwest Territories.

The Land Use Permit will enable LIFT to expand its exploration activities in the Cali area and allows the Company to establish an exploration camp and fuel caches, conduct diamond and reverse circulation drilling, and construct & maintain winter access roads. This Permit will grant the Company adaptability to scale up its exploration efforts, adjusting its approach according to the findings and enhanced knowledge of the area. The Land Use Permit has a term of five years, which may be extended for an additional two years.

April Hayward, Chief Sustainability Officer of LIFT commented “I am very pleased with the terms and conditions in the Land Use Permit, which provide LIFT with the flexibility to expand our exploration program in response to results as we learn more about the area. I am also grateful for the support and feedback we received throughout the permitting process and look forward to continuing to strengthen the collaborative working relationships we have developed with regulatory agencies and local communities in the Cali area.”

LIFT is dedicated to working with local communities to find the right balance between environmental and socio-economic impacts. LIFT is committed to creating a culture of safety for all stakeholders, including its employees, contractors, and local communities by adhering to the highest standards of environmental and social responsibility.

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.

For further information, please contact:

Francis MacDonald		Daniel Gordon
Chief Executive Officer		Investor Relations
Tel: + 1.604.609.6185		Tel: +1.604.609.6185
Email: info@li-ft.com		Email: investors@li-ft.com
Website: www.li-ft.com

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 and Uncertainties" in the Company's latest annual information form filed on March 30, 2023, 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

FAQ

What is the latest announcement from Li-FT Power Ltd. (LIFT)?

LIFT has obtained a Type A Land Use Permit for its Cali project in Northwest Territories.

What does the Land Use Permit allow LIFT to do?

The Permit enables LIFT to expand exploration activities, establish an exploration camp, conduct drilling, and construct winter access roads.

How long is the term of the Land Use Permit?

The Permit has a term of five years, which may be extended for an additional two years.

Who commented on the terms and conditions of the Land Use Permit?

April Hayward, Chief Sustainability Officer of LIFT, expressed satisfaction with the flexibility provided by the Permit for the Company's exploration program.