Ultra Lithium Starts Evaporation Testwork at Laguna Verde Brine Lithium Project in Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has started bench scale evaporation testwork on brine samples from Salar Laguna Verde in Argentina.

A four cubic metre (4,000 litres) brine sample taken from Laguna Verde discovery zone was shipped to the Company’s portable laboratory which is currently set up in Salta, Argentina. The sample will be evaporation tested to evaluate the process design for producing various lithium salts in controlled temperature, wind, humidity and pressure conditions. ULI will also perform Lithium recovery analysis as  part of this testwork.

Assay results from most recent sampling work at Laguna Verde indicated lithium values in the range of 34.2 parts per million (ppm) to 1270 ppm with average lithium concentration of 526 ppm (see Company’s press release dated February 21, 2018).

Dr. Weiguo Lang, CEO of UltraLithium, stated that, “Exploration work at Ultra Lithium’s brine projects in Argentina is progressing well thanks to the hard work of the field crew especially in harsh winter weather conditions. Evaporation testwork is a big milestone towards developing a scoping study for potential production of lithium salts and concentrate. We are looking forward to results of this work in about three months’ time.”

The evaporation testwork is contracted to Mr. Horacio Garkus of Servicios Mineros, Salta Argentina. Mr. Garkus is a consulting geologist with expertise in brine type lithium exploration and development in Argentina

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Ultra Lithium Commences Geophysical Survey at Laguna Verde Brine Lithium Property in Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has commenced ground geophysical surveys at its Laguna Verde brine lithium property in Argentina. The Company contracted Beijing Explo-Tech and Engineering Co., Ltd. (BETEC), a specialty geophysical survey company from China to complete Gravity and Time Domain Electromagnetic (TDEM) surveys on the three brine properties. The BETEC technical team has already completed the survey layout in the Laguna Verde discovery zone.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated, “This is the first milestone in understanding ULI’s lithium brine resource potential. Once the Laguna Verde geophysical survey is finished, we will begin to prepare for the drilling program while the geophysical team gets ready to start work on the remaining survey areas at the Amelia property in Salar Antofalla and the La Borita property. We will provide survey progress updates in the coming weeks.”

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Ultra Lithium Receives Permits and Starts Geophysical Surveys at Argentina Brine Lithium Properties

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has received permits from the Mining Department of Catamarca Province, Argentina to carry out exploration work at its brine lithium properties. The permit is issued for ground geophysical surveys and evaporation ponds for trial lithium concentration processing at the Laguna Verde, Amelia (Antofalla Salar) and La Borita brine properties. The Company has contracted Beijing Technology and Engineering Co., Ltd. (BETEC) from China to complete approximately 82.60 line-kilometres of Gravity and Time Domain Electromagnetic (TDEM) surveys on the three brine properties. BETEC technical teams have been mobilized to the project area to start geophysical surveys.

Beijing Technology and Engineering Co., Ltd (BETEC) is a global high-tech enterprise providing geological exploration services, research, software development and technology support to the mining and energy industries. Established in 1987, BETEC now operates as a full-service provider of geological, geophysical & geochemical surveying, mapping and technology advancements in mineral exploration, oil and gas exploration, hydraulics, earth physics archaeological exploration, seismic safety evaluation, city construction inspections, remote sensing, geological disasters, land surveying, geodesy, photogrammetry, engineering surveying, geographic information systems development and many other areas.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very pleased to partner with BETEC to commence the next phase of exploration work, especially at the Laguna Verde discovery area where brine samples have indicated lithium values of up to 1270 PPM. Ground geophysical surveys will indicate the basin sizes, structural complexities and potential brine layers.”

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Wenzhou Liten Dreamwork Investment Real Estate Co., Ltd. Announces Acquisition of Shares of Ultra Lithium Inc.

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) and Wenzhou Liten Dreamwork Investment Real Estate Co., Ltd. (“Liten”), a private Chinese company controlled by Mr. Shaoguo Cao, announces that it has acquired an aggregate of 29,000,000 common share of Ultra Lithium Inc. (“ULI”) (TSXV:ULI) in private purchase and sale transactions from five individual shareholders of ULI, for the price of CAD$0.33 per share (aggregate CAD$9,570,000). Mr. Shaoguo Cao, the controlling shareholder of Liten and one of the five individual sellers, is a director and Chairman of the Board of ULI.

Liten has relied upon the takeover bid exemption set forth in section 4.2(1) of National Instrument 62-104 Takeover Bids and Issuer Bids.

The change of control of ULI resulting from the acquisition by Liten of an aggregate of 29,000,000 common shares was approved by a majority of the disinterested shareholders of ULI who cast votes at the annual and general meeting of shareholders of ULI held on March 2, 2018. The five individual sellers’ shares were excluded from voting on the resolution.

Immediately before completion of the private transactions, Liten held no common shares or other securities of ULI and Mr. Cao held 8,000,000 common shares of ULI. Following completion of the private transactions, Liten held 29,000,000 of the 70,548,582 issued and outstanding common shares of ULI, representing 41.1% of the issued capital of ULI on an undiluted basis, and 37.0% of the 78,430,082 issued and outstanding common shares of ULI on a fully diluted basis.

Following completion of the private transaction, Mr. Cao held no common shares of ULI directly.

Mr. Cao, one of the five individual sellers, exercises control and direction over 29,000,000 common shares, representing 41.1% of the issued capital, of ULI on an undiluted basis, and 37.0% of the issued capital of ULI on a fully diluted basis, through his control of Liten.

Liten and Mr. Cao acquired the shares for investment purposes.

Information
For further information please contact:
Ms. Shaoguo Cao
Wenzhou Liten Dreamwork Investment Real Estate Co., Ltd.
E: assistant03@liten.cn

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Messrs. Cao, Chen and Guoqing Jointly Announce Sale of Shares of Ultra Lithium Inc.

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) – Messrs. Shaoguo Cao, Xiaomin Chen and Zhang Guoqing (individually a “Seller” and together referred to as the “Sellers”), all of Wenzhou, China, jointly announce that each Seller has sold 8,000,000 common shares (aggregate 24,000,000) of Ultra Lithium Inc. (“ULI”) (TSXV: ULI) in private transactions, to Wenzhou Liten Dreamwork Investment Real Estate Co., Ltd. (“Liten”) for the price of CAD$0.33 per share. Liten is a private Chinese company controlled by Mr. Shaoguo Cao, one of the Sellers and a director and Chairman of the Board of ULI.

In addition to the 24,000,000 common shares of ULI sold to Liten by the Sellers, Liten has acquired an additional 5,000,000 common shares of ULI from two other individuals in private transactions. Liten has relied upon the takeover bid exemption set forth in section 4.2(1) of

National Instrument 62-104 Takeover Bids and Issuer Bids.

The change of control of ULI resulting from the acquisition by Liten of an aggregate of 29,000,000 common shares was approved by a majority of the disinterested shareholders of ULI who cast votes at the annual and general meeting of shareholders of ULI held on March 2, 2018. The Sellers’ shares were excluded from voting on the resolution.

Immediately before completion of the private transactions, each of the Sellers held 8,000,000 of the 70,548,582 issued and outstanding common shares of ULI, representing 11.34% (aggregate 34%) of the issued capital of ULI on an undiluted basis, and 10.2% (aggregate 30.6%) of the issued capital of ULI on a fully diluted basis. Following the completion of the private sale, the Sellers together hold no common shares of ULI directly.

Mr. Cao, one of the Sellers, exercises control and direction over 29,000,000 common shares, representing 41.1% of the issued capital, of ULI on an undiluted basis, and 37.0% of the issued capital of ULI on a fully diluted basis, through his control of Liten.

Liten and Mr. Cao acquired the shares for investment purposes.

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Ultra Lithium Grants Options

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) wishes to announce that on April 4, 2018 it has granted 1,010,000 stock options to certain directors, officers and consultants pursuant to the Company’s Stock Option Plan. The options have an exercise price of $0.205 per share and an expiry date of April 4, 2023.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Ultra Lithium Sampled Up to 1270 PPM Lithium at Salar Laguna Verde in Catamarca, Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) has received complete assay results of the second round of sampling work carried out in December 2017 on the Salar Laguna Verde Discovery Zone in Catamarca Province, Argentina.

Assay results indicate lithium values in the range of 34.2 to 1,270 milligrams per liter (mg/L) or parts per million (ppm), magnesium values less than one ppm to 7,920 ppm, potassium 804 ppm to 15,800 ppm, and boron 65.5 to 2,190 ppm. The Laguna Verde area is marked by low magnesium to lithium ratios, in the range of zero to 10.2.

Highlights:

  • Lithium values up to 1270 ppm, potassium 15,800 ppm (1.58%), and boron up to 2,190 ppm.
  • Fourteen samples in the central part of the Salar have lithium values greater than 500 ppm.
  • Average values of lithium in all samples is 526 ppm, boron 673 ppm, magnesium 1,916 ppm, potassium 7211 ppm and sodium 86,081 ppm.
  • Average magnesium to lithium ratio is 3, a very favourable factor for shorter evaporation time and potential lower lithium carbonate production costs.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very pleased with the success of our Argentinian exploration work to date. The Company is planning to commence geophysical surveys in the coming weeks. We will also commence evaporation process testing of lithium brines. These are the next big steps in moving the Laguna Verde Discovery Zone project forward.

A total of 36 samples were collected from surface and shallow sub-surface brines down to a depth of one meter or less. Hand tools, such as hammers, and shovels were used to break the surface salt / sediment layers to access the brines. Brine samples were collected in clean plastic bottles which were rinsed with brine before sampling. Field parameters of each sample were recorded which include: depth of water table from surface, total dissolved solids, temperature, conductivity, salinity, pH, and density. All samples were shipped to SGS Laboratories in Buenos Aires, while four duplicate samples were sent to Alex Stewart Laboratories in Jujuy, Argentina which were reported in December 22, 2017 news release. Two field blank and three field duplicate samples were also shipped to SGS as part of quality assurance and quality control purposes. SGS is a global chain of independent certified laboratories. The samples were assayed by SGS method ME. 113 based on SM 3120, 23rd Edition.

Table 1: December 2017 Sampling Data from Salar Laguna Verde Discovery Zone
View data here.

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Ultra Lithium Signs MOU for Trial Production of Lithium Carbonate

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with CADAVISA TECHNOLOGY CORPORATION (“CTC”) of Beijing, China to cooperate in lithium extraction and production using CTC’s proprietary technology. CTC uses selective separation methods through crystallization processes to produce battery grade lithium carbonate. CTC is constructing a plant in China with a capacity of 25,000 tonnes/year battery grade lithium carbonate.

CTC is closely associated with Chemical Engineering College of Tsinghua University and lithium-ion battery production industries in China. CTC has completed numerous production tests with both spodumene and brine lithium materials. According to CTC its technology has been proven to be economically viable and environmentally friendly.

Under the terms of Phase 1 of the MOU ULI will provide assay results from its brine and spodumene lithium projects for CTC to evaluate. ULI will also provide CTC with dried brine and spodumene pegmatite raw materials to conduct trial production. All trial production results and data shall be shared by and belong to the two parties on a confidential basis. All products from trial production will belong to ULI.

Subject to the successful completion of Phase 1 ULI and CTC, will consider entering into a definitive cooperation agreement which may include, but is not limited to, participation by CTC in equity financing of ULI; investments in joint projects, building a processing plant in Argentina and/or Canada and granting CTC priority for potential supplies of lithium concentrates and/or raw materials.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very pleased to be entering into this MOU. It is a step forward toward Ultra Lithium’s goal to transform into a vertically integrated lithium company, exploring high quality lithium projects in the upstream, producing lithium concentrates and developing strong relationships downstream with lithium end users.”

Qualified Person

The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Ultra Lithium’s Second Round of Sampling Further Confirms High Grade Lithium Brines at Salar Laguna Verde in Catamarca Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) has received preliminary assay results of the first four samples from the second round of sampling completed in December 2017 on the Salar Laguna Verde Discovery Zone in Catamarca Province, Argentina. Assay results indicate lithium values in the range of 263 to 1,178 milligrams per liter (mg/L) or parts per million (ppm), magnesium values less than 20 ppm to 9,150 ppm and potassium values are 6,706 ppm to 21,741 ppm. The Laguna Verde area is marked by low magnesium to lithium ratios, in the range of 0.019 to 7.77.

A total of 36 samples were collected from surface and shallow sub-surface brines down to a depth of one meter or less. Hand tools, such as hammers, and shovels were used to break the surface salt / sediment layers to access the brines. Brine samples were collected in clean plastic bottles which were rinsed with brine before sampling. Field parameters of each sample were recorded which include: depth of water table from surface, total dissolved solids, temperature, conductivity, salinity, pH, and density. All samples were shipped to SGS Laboratories in Buenos Aires, while four duplicate samples were sent to Alex Stewart Laboratories in Jujuy, Argentina. The samples were assayed by method LMMT03 (ICP-OES). The results of these four duplicate samples are reported with highlights presented below (also see Table 1).

Highlights:

  • Sample 17CA079 – indicated 1,178 ppm lithium (Li), 16,994 ppm potassium (K), 1,900 ppm boron (B), and 9,150 ppm magnesium (Mg); with Mg/Li ratio of 7.77.
  • Sample 17CA081 – indicated 263 ppm lithium, 6,706 ppm potassium, 602 ppm boron, and 34 ppm magnesium (Mg); with Mg/Li ratio of 0.13.
  • Sample 17CA082 – indicated 685 ppm lithium, 10,084 ppm potassium, 777 ppm boron, and 3,861 ppm magnesium; with Mg/Li ratio of 5.64.
  • Sample 17CA083 – indicated 1,048 ppm lithium, 21,741 ppm potassium, 2,734 ppm boron, and less than 20 ppm magnesium (Mg). Mg/Li ratio cannot be calculated because magnesium values are below the laboratory method detection limit of 20 mg/L.

The Company is waiting for the assay results from SGS Laboratories in Buenos Aires, Argentina which are expected in January.

Alex Stewart International and its worldwide group of Companies extends over 40 countries to provide professional inspection and laboratory analysis to business and government. Alex Stewart International maintains a dedicated, personalized attention to all of its customers and provides technical expertise for inspection, weighing, sampling, analysis, testing and operational auditing of all commodities and products.

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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

Ultra Lithium To Start Second Round of Exploration Program at Salar Laguna Verde Discovery Zone in Catamarca, Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it is starting the second round of surface sampling with focus on the Salar Laguna Verde Discovery Zone in the Province of Catamarca, Argentina. The assay results from surface sampling in this area, announced in ULI’s November 07, 2017 press release indicated one sample with lithium (Li) value of 1100 parts per million (ppm) and a magnesium to lithium ratio of less than two. The field crew plans to mobilize to the property next week. Exploratory sampling will be carried out by collecting surface brines and shallow sub-surface brines down to a depth of approximately one meter.

Further review of the assay results by the Company’s technical team indicates a strong correlation of lithium values with brine density measured in the field (See Table Below). The other controlling physical parameters are pH, total dissolved solids (TDS) and the influence of fresh water from alluvial fans in the catchment area of Laguna Verde Salar. ULI’s working model for exploration is that the potential source of lithium in the lagoon and subsurface is hydrothermal movement of lithium through a system of faults. A northwest–southeast running fault structure has been identified in the field and on satellite images which is considered a possible source of lithium concentration in this brine. This interpretation of the results will be used as a guideline for future sampling and testing work.

Table 1: Correlation of October 2017 Sampling Data from Laguna Verde with Physical Field Parameters

Project Area Sample WGS84 TDS gr/l SAL Cond Resis. PH Density Li mg/l Mg mg/l K mg/l Na mg/l
Laguna Verde Laguna Verde II 17CA029 19 J 607380 7198451 13.55 7.7 13.55 73.8 8.6 1010 14.0 87.9 262 2650
Laguna Verde Laguna Verde II 17CA030 19 J 606573 7198467 >200 >70 226 4.39 7.4 1250 1100.0 1900 14100 127000
Laguna Verde Laguna Verde II 17CA031 19 J 606275 7198901 >200 >70 232.5 4.87 7.5 1200 514.0 490 8870 97400
Laguna Verde Laguna Verde II 17CA032 19 J 606202 7199362 85.5 59.5 85.5 11.69 8.5 1050 92.5 542 1340 23800
Laguna Verde Laguna Verde I 17CA033 19 J 603634 7200748 25 14.9 25 40 8.1 1015 24.8 323 351 4980
Laguna Verde Laguna Verde I 17CA034 19 J 602873 7197649 143.7 >70 143.7 6.95 8.4 1100 199.0 234 2620 44400
Laguna Verde Laguna Verde I 17CA035 19 J 602859 7198645 37.4 23.2 37.4 26.7 8.8 1035 39.4 154 522 8780
Laguna Verde La Maru 17CA036 19 J 606062 7200840 53.5 34.5 53.5 18.7 8.8 1035 48.9 355 723 13000
Laguna Verde La Maru 17CA037 19 J 606070 7201410 124.4 >70 124.7 8.07 8.4 1080 147.0 1180 2240 34900
Laguna Verde La Maru 17CA038 19 J 604608 7201220 54.5 35.2 54.5 18.35 8.2 1030 57.5 565 1020 12300
Laguna Verde Griselda 17CA039 19 J 603012 7197999 150.6 >70 150.6 6.64 8.5 1100 202.0 240 2680 45600

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very excited about the Laguna Verde discovery and want to continue exploring this area as a priority while we continue working on other brine properties in Argentina. This phase of exploration will help to increase our understanding of the lithium concentration mechanism and its controlling geological processes. Our efforts to acquire and explore Argentinian brine lithium assets is paying off in a big way.”

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company is currently holds two exploration properties at the South Big Smoky Valley brine lithium and the Georgia Lake hard rock spodumene type lithium project.

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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