Ultra Lithium Announces $1,200,000 Private Placement

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 4,800,000 units (the “Units”) of the Company at a price of $0.25 per Unit for aggregate proceeds of up to CDN$1,200,000. Each Unit will be comprised of one common share and one half common share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to purchase an additional common share of the Company at an exercise price of $0.40 per share for a period of one year from closing of the private placement provided that if the closing price of the common shares of the Company on any stock exchange or quotation system on which the common shares are then listed or quoted is equal to or greater than Cdn $0.55 for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry of the warrants by giving notice to the holders of the warrants that the warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than ten (10) business days from the date notice is given.

The proceeds from the Private Placement will be used to fund the exploration of the Company’s Argentine properties and for general working capital purposes.

All securities issued under the private placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The private placement is subject to all necessary regulatory approvals including acceptance for filing by the TSX Venture Exchange.

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.

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 Assay Results for Second Round of Surface Sampling in Catamarca, Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) has received preliminary assay results from the October 2017 exploration work completed on the Laguna Verde, Archibara and Galan properties in the Province of Catamarca, Argentina.

Assay results indicate lithium values in the range of less than 1ppm to 1,100ppm, magnesium values 9.45ppm to 1,900ppm and potassium values are 20.5ppm to 14,100ppm. The Laguna Verde area is marked by low magnesium to lithium ratios, in the range of 0.9 to 9.8. The Company is currently in the process of verifying the field and lab data, and interpreting the significance of these results in the context of the Company’s exploration program. The assay results are presented in the table below.

Exploratory sampling was carried out by collecting surface brines and shallow sub-surface brines down to a depth of one meter. Hand tools, such as hammers, and shovels were used to break the surface salt / sediment layers to access the brines.

The samples were assayed at SGS Laboratories in Buenos Aires, Argentina. SGS is a global chain of independent certified laboratories. The samples were assayed by SGS method ME. 113 based on SM 3120, 23rd Edition. 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.

Table 1: October 2017 Sampling Data from Laguna Verde, Archibara and Galan

Project Area Sample ID Location (WGS84) Water Depth (cm) Li  mg/l Mg  mg/l Mg/Li Ratio K mg/l Na mg/l
Galan 5 de Mayo 17CA026 19 J 718770 7095144 130 <1 54 NA 145 648
Galan Laguna del Salitre 17CA027 19 J 709194 7093167 0 <1 47.9 NA 316 1440
Galan Laguna del Salitre 17CA028 19 J 709716 7093263 0 <1 50.8 NA 332 1510
Laguna Verde Laguna Verde II 17CA029 19 J 607380 7198451 0 14.0 87.9 6.28 262 2650
Laguna Verde Laguna Verde II 17CA030 19 J 606573 7198467 120 1100.0 1900 1.73 14100 127000
Laguna Verde Laguna Verde II 17CA031 19 J 606275 7198901 0 514.0 490 0.95 8870 97400
Laguna Verde Laguna Verde II 17CA032 19 J 606202 7199362 0 92.5 542 5.86 1340 23800
Laguna Verde Laguna Verde I 17CA033 19 J 603634 7200748 0 24.8 323 13.02 351 4980
Laguna Verde Laguna Verde I 17CA034 19 J 602873 7197649 0 199.0 234 1.18 2620 44400
Laguna Verde Laguna Verde I 17CA035 19 J 602859 7198645 0 39.4 154 3.91 522 8780
Laguna Verde La Maru 17CA036 19 J 606062 7200840 0 48.9 355 7.26 723 13000
Laguna Verde La Maru 17CA037 19 J 606070 7201410 0 147.0 1180 8.03 2240 34900
Laguna Verde La Maru 17CA038 19 J 604608 7201220 0 57.5 565 9.83 1020 12300
Laguna Verde Griselda 17CA039 19 J 603012 7197999 0 202.0 240 1.19 2680 45600
Archibarca Archibarca I 17CA040 19 J 590376 7209734 145 46.7 1010 21.63 430 19400
Archibarca Archibarca I 17CA041 19 J 590405 7210038 135 44.2 770 17.42 361 16200
Archibarca Archibarca I 17CA042 19 J 590133 7209750 130 72.8 1060 14.56 2090 32100
Archibarca Archibarca II 17CA043 19 J 590068 7205958 0 <1 9.45 NA 20.5 260

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 is currently holds two exploration properties at the South Big Smoky Valley brine lithium and the Georgia Lake hard rock spodumene type lithium project.

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 Sampling Results Confirm Historical Lithium Values and Identify New Brine Targets In Catamarca, Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has received assay results from the September 2017 exploration work completed on two of the four brine lithium properties recently acquired by the Company in the Province of Catamarca, Argentina. The exploration work was completed on La Borita and Antefalla properties, and was comprised of drilling short holes in ground down to a depth of up to one meter below surface to take shallow brine samples, and to resample existing deep historical drill holes on La Borita. Highlights of the assay results are presented below and a table showing location and results of each sample is attached with this press release.

La Borita Brine Lithium Property

  • Brine sample from Hole LB002 was 220 milligrams per liter (mg/L) lithium, 1140 mg/L magnesium, 423 mg/L boron and 1790 mg/L potassium.
  • Brine sample from Hole LB004 returned 176 mg/L lithium, 4690 mg/L magnesium, 336 mg/L boron, and 579 mg/L potassium.
  • Brine sample from Hole LBDDH005, a 650-meter-deep well, which was repeatedly sampled in the past returned lithium values 215 mg/L, magnesium 983 mg/L, boron 425 mg/L and potassium 1990 mg/L. These results are in line with the historical assay results reported in the Company’s press release dated June 27, 2017
  • Shallow subsurface brine samples indicate anomalous lithium values in the range of 3.1 mg/L to 45.8 mg/L, magnesium 379 mg/L to 4690 mg/L, boron less than 14 mg/L to 210 mg/L.
  • The results indicate a deeper source of lithium concentration as samples from all deeper holes return significantly higher (3 to 4 times) values than the shallow subsurface samples.
  • The Company is planning to carry out pump tests on deeper holes to determine the brine production capacity of each aquifer intercepted in drill holes. Historical core and drill logs are available for planning pump tests.

Antafalla Brine Lithium Property

  • 12 shallow subsurface brine samples indicate anomalous values of lithium, in the range of 2.55 mg/L to 75.5 mg/L with an average of 31.8 mg/L.
  • Magnesium values are in the range of 36.3 mg/L to 1100 mg/L with average 528.8 mg/L, boron less than 14 mg/L to 27.5 mg/L, potassium less than 15 mg/L to 1,390 mg/L.
  • ULI’s Antafalla property is located adjacent to the north of Albemarle’s Antafalla property which was acquired by Albemarle from Bolland Minera in 2016.
  • According to Roskill’s report of September 16, 2016, Bolland Minera, has to-date drilled 56 boreholes over 265 square km and defined a resource of 83Mt of potash (KCl) grading 6,400mg/l and 2.22Mt of lithium (11.8Mt LCE) grading 350mg/l.
  • A review of historical drill logs of Bolland indicate that lithium grades tend to increase with depth. Ultra Lithium will plan to drill deeper holes after finishing the current exploration work program.

Table 1: September 2017 Sampling at Antafalla and La Borita Projects
View table with results here.

  • Cautionary Note: The above information is taken from the publicly available source: https://roskill.com/news/lithium-albemarle-expands-argentina/ , and the Company has not independently verified the information referenced and should not be relied upon. The information is not necessarily indicative of the mineralization on the ULI’s Antafalla Property, and is provide as background and context material for the reader. This information will be beneficial for the Company for developing next phase of exploration work on the Property.

The samples were assayed at SGS Laboratories in Buenos Aires, Argentina. SGS is a global chain of independent certified laboratories. The samples were assayed by SGS method ME. 113 based on SM 3120, 23rd Edition. Field parameters of each sample were recorded which include: depth of water table from surface, total dissolved solids, temperature, conductivity, salinity, pH, and density.

The Company is also pleased to announce that the field exploration team has mobilized to continue shallow subsurface brine sampling on the remaining two properties in Catamarca Province, Argentina (Laguna del Salitre / Laguna de Aparoma Property and Archibara / Laguna Verde Property).

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very satisfied with the exploration work so far and its results which helped not only to confirm the historical data but also provide promising exploration targets for further work. The Company will develop an exploration program after completion of the current phase of shallow brine sampling on all the properties in Catamarca. The next phase of exploration will include pump tests at deeper holes on the La Borita Property and drilling deeper drill holes at few new targets identified on the Antafalla Property.”

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 is currently holds two exploration properties at the South Big Smoky Valley brine lithium and the Georgia Lake hard rock spodumene type lithium project.

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 it has granted 2,150,000 stock options to certain directors, officers and consultants pursuant to the Company’s Stock Option Plan. The options have an exercise price of $0.19 per share and an expiry date of September 8, 2022.

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 brine exploration properties in Catamarca, Argentina and Nevada, USA and hard rock spodumene type lithium property in 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 Begins Exploration in Argentina, Appoints Project Team and Incorporates Argentine Subsidiary

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has started the first phase exploration program at its Argentinian brine lithium properties and appointed the project team for its operations in Argentina. The Company has also incorporated a wholly owned subsidiary, ULTRA ARGENTINA S.R.L.

The first phase of exploration is comprised of drilling short holes down to a depth of 3-5 m below surface to obtain brine samples at suitable locations. Its purpose is to assess the potential of each claim block and prioritize the next phase of exploration work.

The Company is also pleased to announce the appointment of the following personnel to its Argentine project team:

Mr. Juan Orozco – Exploration Manager of Argentine Operations:
Mr. Orozco is an exploration geologist with over 20 years’ experience in mineral exploration and mining in Argentina. Mr. Orozco was Director and Manager for South America of Uranio del Sur S.A, a subsidiary of Uranio A.G. He worked at Rome Resources Ltd.., La Plata Gold Corp., Jinshan Minera S.A, CGS Chinese Geological Service, among other mining companies where he was responsible for generation and management of mining projects, community relations and prospecting.

Mr. Luis Manuel Alvarez – Advisor to Catamarca Operations:
Mr. Alvarez holds a degree in economics, and has held various advisory positions with the provincial government of Catamarca and mining companies. He also worked as professor in the faculty of Economics and Administration in the University of Catamarca, and as Under Secretary of Industry and Commerce with the Government of Catamarca. Mr. Alvarez is the vendor of the brine lithium properties held by the Company and will assist in permitting and community relation.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “The Company is very pleased with the progress of the Argentine operation, especially with the strength of the operational team. It is a major milestone as we move forward with the Company’s exploration program. The completion of the first phase of the exploration program will help optimize further exploration of our large land package in Catamarca Province”.

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 is currently holds brine exploration properties in Catamarca, Argentina and Nevada, USA and hard rock spodumene type lithium property in 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 Acquires Three More Lithium Brine Properties in Catamarca, Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce it has entered into a definitive agreement to acquire 100% interest in three Lithium Brine properties (the “Properties”) covering 22,176 hectares, located in the Antofagasta region, Province of Catamarca in Argentina. The three properties are comprised of 11 mining licenses and are in addition to the La Borita claim block acquisition announced on June 27, 2017. These properties are located within the “Lithium Triangle,” a region which holds over 50% of the world’s lithium resource.

Below is a summary of the three properties:

  1. Amelia Property: Comprised of 3 mining licenses Amelia I-III, covering 5,400 hectares located in the northern part of Salar de Antofalla, a lithium, potassium deposit historically explored by Rio Tinto and in the vicinity of Albemarle Corporation’s Salar De Antofalla property.
  2. Laguna del Salitre / Laguna de Aparoma Property: Comprised of two licenses covering 5,400 hectares, located about 80 km to the south of the Salar del Hombre Muerto partly owned by FMC Lithium.
  3. Archibara / Laguna Verde Property: Comprised of six mining licenses Archibara I-III, and Laguna Verde I-III, covering 11,376 hectares located about 80 km to the north of Albemarle’s project.

Under the terms of agreement signed on June 20, 2017 between Luis Manuel Alvarez (the Vendor) and the Company, ULI will pay the following:

  1. 2,486,040 Argentinian Pesos (approximately USD $155,378) to the Mining Secretariat of Catamarca for outstanding canon fees upon signing the agreement.
  2. USD $30,000 after due diligence is completed.
  3. USD $1,980,000 in four equal quarterly payments commencing 270 days from signing the agreement to acquire 100% rights on the Property.

The Vendor will retain a 2.5 % royalty.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “The acquisition of La Borita Property opened up doors for the Company to acquire a sufficiently large area to carry out lithium exploration in a very promising and strategic region within the world known Lithium Triangle. We are very thankful to Mr. Alvarez for having confidence in Ultra Lithium to give this opportunity for acquiring his other lithium licenses. These properties are in the vicinity of a producing mine operated by FMC Corporation, and other deposits owned by Galaxy Lithium and Albemarle, a leading lithium producer in the world. We have developed a work program to complete bench scale testing on La Borita to produce lithium brine concentrate, and to carry out systematic sampling on each mining license. The sampling results will enable us to prioritize further exploration work.”

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 is currently holds two exploration properties at the South Big Smoky Valley brine lithium and the Georgia Lake hard rock spodumene type lithium project.

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 Drills 1.42% Lithium Oxide at Georgia Lake in Northern Ontario, Canada

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce assay results from 2017 exploration work program at its 100% owned Georgia Lake Lithium Project located in the Thunder Bay Mining District, Northwestern Ontario, Canada. The results of four short drill holes at various spodumene pegmatites on the property indicate values up to 1.42% lithium oxide (Li2O) over 5 metres.

Highlights of the drill hole assay results are (see tables 1 and 2 for details):

  • Drill Hole ULI-17-01 intersects 1.11% Li2O over 4 m from one metre below surface at Niemi Pegmatite
  • Drill Hole ULI-17-02 intersects 1.08% Li2O over 5 m from one metre below surface at Newkirk Pegmatite
  • Drill Hole ULI-17-03 intersects 0.76% Li2O over 1 m from 5 metres below surface at MNW Pegmatite
  • Drill Hole ULI-17-04 intersects 1.42% Li2O over 5 metres from one metres below surface at Lucky Lake Pegmatite
    (Note: All widths reported are drill core widths and have not been converted into true width.)

The drill program was contracted to Pleson Geoscience and was completed during April-May 2017. A Shaw diamond core drill with internal diameter of 41 mm was used to drill the four exploration holes down to a depth of six metres below surface. Core samples were between 30 cm and 1.5 m. The samples were assayed by Actlabs lab in Ancaster, Ontario. Actlabs is an independent lab accredited by ISO 17025. The samples were digested using sodium peroxide fusion and analyzed for the lithium by ICP (Method: FUS-MS-Na2O2). Actlabs has its own quality control and quality assurance program in place.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are highly satisfied with the results achieved for the Georgia Lake project and will continue with deeper drilling during our 2017-18 exploration work program. Now, with the acquisition of La Borita brine lithium project in Argentina, the Company has a balanced lithium portfolio comprising both hard rock and brine types of exploration deposit models.”

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 VP Exploration with the Company.

About the Georgia Lake Lithium Project:
The Company holds a 100% interest in the Georgia Lake lithium property comprising 16 mineral claims covering approximately 2416 in 151 units, located in the Thunder Bay Mining Division, Ontario, Canada. The project represents a stable and favourable mining jurisdiction, supportive First Nations and excellent infrastructure. It is located near provincial highway 11, 145 km from deep water port in Thunder Bay. The spodumene-bearing pegmatites of this area were first discovered in 1955. Majority of pegmatites are Lithium–cesium-tantalum (LCT) type where spodumene is the main lithium mineral.

A total of eight historically documented lithium pegmatites are located on the property.

Table 1. Drill hole assay results 
Drill Hole Sample ID Depth From (m) Depth To (m) Length of sample (m) Lithium Oxide %
294101 0 1 1.00 0.27
294102 1 2 1.00 1.55
ULI-17-01 294103 2 3 1.00 1.79
294104 3 4 1.00 0.46
294105 4 5 1.00 0.67
294106 5 6 1.00 0.4
Average 0.86
294107 1 2 1.00 0.22
294108 2 3 1.00 1.72
ULI-17-02 294109 3 4 1.00 0.35
294110 4 5 1.00 1.6
294111 5 6 1.00 1.5
Average 1.078
294112 2 3 1.00 0.25
ULI-17-03 294113 3 4 1.00 0.05
294114 4 5 1.00 0.04
294115 5 6 1.00 0.76
Average 0.275
294116 1 2 1.00 1.42
294117 2 3 1.00 1.04
ULI-17-04 294118 3 4 1.00 1.22
294119 4 5 1.00 1.7
294120 5 6 1.00 1.7
Average 1.416
Table 2: Drill Hole Collar Information
 Hole ID Easting  Northing   Azimuth    Dip   length of hole (m)   # of Samples
 ULI-17-01   434438   5461357 n/a 90 8 6
 ULI-17-02 431260 5464049 n/a 90 6 5
 ULI-17-03 426636 5453604 n/a 90 6 4
 ULI-17-04 406622 5464207 n/a 90 6 5
 Summary: 26 20

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 focused on acquiring promising lithium assets in Argentina located in the famous lithium triangle while exploring its Georgia Lake and South Big Smoky Valley Projects.

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 Agreement to Acquire Lithium Brine Property in Catamarca Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce it has entered into an agreement to acquire 100% interest in the La Borita Brine Lithium property ( the “Property”), located in the Antofagasta region, Province of Catamarca in Argentina. It is located within the “Lithium Triangle.” The Property is comprised of four mining claims (“minas”) named: 17 de Junio, Fenix, Betito, and Guayracocha covering approximately 3,000 hectares. It is situated 15 kilometers to the east of the Salar de Antofalla, a lithium, potassium deposit historically explored by Rio Tinto and currently owned by Albemarle Corporation, a leading lithium producer in the world.

Historical exploration data indicates the potential of the area to host a lithium exploration target with a favorable chemical profile especially a low magnesium to lithium ratio.

The Property has been explored for base metals since the 1970s. Recent exploration work was carried out during 2010-2013 by Minera Mariana Argentina S.A., a subsidiary of Mariana Resources Ltd., a Canadian mining company. A total of five holes were completed on the Property with cumulative drilling of 1785 meters during this period. Ultra Lithium has acquired historical brine samples assay results for the five holes. Chemical analysis on samples was performed by Alex Stewart Laboratory in Mendoza, Argentina using industry standard trace inductively-coupled plasma (ICP) methods. The historical values are:

  • Hole LB001 was 228 milligrams per liter (mg/L) lithium, 844 mg/L magnesium, and 2222 mg/L potassium.
  • Hole LB002 returned 226 mg/L lithium, 856 mg/L magnesium and 2248 mg/L potassium.
  • Hole LBDDH005, a 650-meter-deep well, was sampled twice from November 2011, and then December 2012. Lithium values were 228 mg/L in 2011 and 242 mg/L in 2012. Magnesium was 844 mg/L for 2011 and 854 mg/L for 2012, and potassium was 2222 mg/L in 2011 and 2215 mg/L in 2012.
  • Holes LB003 and LB004 returned no anomalous lithium values.

The reported copper and base metals mineralization on the Property is composed of: 1) Rusty copper minerals in travertine, with malachite, azurite, atazanite, freirinite and calcantite dissolving in water; and 2) Phosgenite (lead) veins. There are several reported old adits and trenches on the Property, and 15 surface samples collected by Mariana indicated values of copper from 0.38 to 3.41% with anomalous values of lead, zinc and silver.

CAUTION: A qualified person has not done sufficient work to verify the historical results; therefore, they should not be relied upon and are presented for informational purposes only. The historical information will be used by Company to plan further exploration.

  1. Under the terms of agreement signed on June 20, 2017 between Luis Manuel Alvarez (the Vendor) and the Company, ULI will pay the following:
    408,320 Argentinian Pesos (approximately USD $25,520) to the Mining Secretariat of Catamarca upon signing the agreement. The payment is for outstanding canon fees.
  2. USD $30,000 30 days after verification sampling and due diligence is completed.
  3. USD $1,000,000 in four equal quarterly payments commencing one year from signing the agreement to acquire 100% rights on the Property.

The Vendor will retain a 2.5 % royalty.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very pleased with our efforts to complete this acquisition. This transaction will not only provide the Company with an opportunity to explore for lithium and other metals from the same property but also allow us to well position ourselves in the world’s best known Lithium Triangle for more acquisition opportunities in the area. The historical data received so far is very encouraging and helpful for future work plans. We will commence our work programs on the Property as soon as historical data interpretation is completed.”

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 is currently holds two exploration properties at the South Big Smoky Valley brine lithium and the Georgia Lake hard rock spodumene type lithium project.

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 Starts Phase 1 Exploration at the Georgia Lake Lithium Project in Northwestern Ontario, Canada

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has started Phase 1 exploration work at its 100% owned Georgia Lake Lithium Project located in the Thunder Bay Mining District, Northwestern Ontario, Canada.

The exploration work will target eight, lithium bearing spodumene pegmatite occurrences described from the property in historical geological and exploration reports.

The Phase 1 exploration program will focus on the following tasks:

  • Prospecting and grab sampling of historical drilling and sampling areas on eight lithium pegmatites on the Property;
  • Stripping and systematic channel sampling of lithium pegmatites at suitable intervals;
  • Laboratory testing of samples for lithium, cesium, tantalum, beryllium and other rare metals; and,
  • Identify areas for initial drill testing as part of a second phase of exploration.

The field crew has been mobilized to start prospecting, mapping, and grab sampling work. The Company has also initiated permitting for ground stripping, trenching, and diamond drilling.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “While ULI’s first priority remains ongoing exploration at the South Big Smoky Valley brine lithium project, the Company’s management considers the assessment of the potential of Georgia Lake lithium property important to the Company’s growth strategy. Lithium occurrences known in the Georgia Lake property were explored during the mid-1950’s, a period marked by a boom in the lithium industry in North America. The Company is in the process of acquiring more powerful drilling equipment for the South Big Smoky Valley project to complete the first two drill holes. The management is focused on adding shareholder value in the current strong lithium market through systematic exploration of both hard rock and brine lithium projects”.

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 a consultant with 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 is currently focused on North American acquisitions and exploring its Big Smoky Valley Project located in Nevada, USA.

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 Executes Balkans Framework Agreement And Announces Equity Financing

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has executed a legally binding Framework Agreement with Beijing Explo-Tech Engineering Co. Ltd. (BETEC) to explore and develop its Balkans Project in the Republic of Serbia. In addition, Beijing Guofang Mining Investment Co. Ltd. (BGMI) will complete a financing in the amount of C$1 million to ensure rapid advancement of the Company’s exploration program.

This joint venture will allow Ultra to commence geophysical exploration work on its seven highly-prospective, mineral exploration licenses in the Republic of Serbia. Ultra anticipates two exploration crews in the field from mid-June to commence “Magneto Telluric” surveys over all seven concessions.

Highlights from the agreement include:

  • BGMI and associates will invest C$1,000,000 through the purchase of units of securities of Ultra at $0.05 per unit. Each unit will consist of one (1) common share of Ultra and one common share purchase warrant, with each warrant entitling BETEC to acquire one (1) additional common share of Ultra at $0.10 per share for a period of two (2) years.
  • BETEC undertakes and commits to fund up to CAD$3,500,000 of approved expenditures. Such expenditures will be incurred within a period of three (3) years.
  • BETEC will earn a five (5%) per cent equity interest in Ultra Balkans d.o.o., Ultra’s wholly-owned Serbian subsidiary, for each CAD$500,000 of approved expenditures incurred and up to a 35% equity interest once the entire CAD$3,500,000 of qualified expenditures has been incurred.

Ultra Lithium’s Chief Executive Officer Marc Morin commented: “This $4.5 million investment strengthens our balance sheet and allows us to start our exploration program  which will include soil sampling, geophysics and a drilling program to advance the Balkans Project. We are very excited to be working with our new partners.”

About Ultra Lithium:
Ultra Lithium Inc. is a junior explorer listed on the TSX Venture Exchange under the symbol ULI. The Company is committed to the aggressive pursuit of properties with high returns-on-investment and maximizing the value of assets through a disciplined process of assessment and responsible acquisitions. Currently, the Company holds exploration licenses in Ontario, Canada, Nevada, U.S.A and Serbia.

Property Highlights:

  • 643 km2 of lithium/boron mineral exploration licenses in the Republic of Serbia
  • All seven exploration concessions are within well-defined sedimentary basins
  • Proximity to infrastructure (rail/road/sea), (electricity), and (labour force)
  • Ultra has 100% ownership of its exploration licenses
  • Rio Tinto is completing a $27 million pre-feasibility study & projecting production for 2016 1
  • Rio Tinto’s Jadar deposit could produce up to 20% of the current worldwide annual lithium demand1
  • Off the shelf technology can process Jadarite ore2

About Beijing Explo-Tech Engineering Co. Ltd.
BETEC is a high-tech geological exploration enterprise which provides geological exploration services, research, software development and technology support for the mining industry. Areas of expertise include geological, geophysical, geochemical and remote sensing. BETEC has 110 official employees.

Terms of the proposed transaction:
As stated in the preceding highlights, under the terms of the framework agreement, BGMI and its associates will invest CAD$1,000,000 through the purchase of units of securities of Ultra at $0.05 per unit. Each unit will consist of one (1) common share of Ultra and one common share purchase warrant, with each warrant entitling BGMI and associates to acquire one (1) additional common share of Ultra at $0.10 per share for a period of two (2) years. BETEC also undertakes and commits to fund up to CAD$3,500,000 of approved exploration expenditures on the Property to be incurred within a period of three (3) years from the date of formation of the joint venture. BETEC will earn a five (5%) per cent equity interest for each CAD$500,000 of approved expenditures incurred and up to a thirty five (35%) per cent equity interest once the entire CAD$3,500,000 of qualified expenditures has been incurred.

Both parties agree to hold the Property and the other assets of the partnership consistent with applicable legislation, to explore the Property for minerals and, if feasible, develop a mine thereon, and so long as it is technically, economically and legally feasible, operate such mine and exploit the minerals extracted from the Property, and carry out any other activity in connection with or incidental to any of the foregoing.

Closing of the proposed transaction is subject to satisfaction or waiver of terms and conditions, customary or otherwise, including, but not limited to, acceptance by the TSX Venture Exchange of the proposed transactions.

The units issued will be subject to a four-month hold period from the closing date of the private placement offering. Finders’ fees may be payable in connection with this private placement in accordance with TSX Venture Exchange policy.

On behalf of the Board of Directors
Marc Morin, President & CEO

For further information, please contact:
T: +1-778-968-1176
F: +1-604-909-4682
E: info@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.