ULI.V Price: 0.165 Change: +0.000 Volume: 5000 15-20 min delay view details
Vancouver, B.C., October 8, 2013 – Ultra Lithium Inc. (TSX-V: ULI) (“Ultra” or “the Company”) is pleased to announce that it has staked an additional 300 placer claims, through its wholly-owned subsidiary, Ultra Lithium (USA) Inc.. The Company now has a 100% interest in 664 claims (13,280 acres) strategically located in the South Big Smoky Valley, Esmeralda County, Nevada.
South Big Smoky Valley shares a similar geology and weathering history to Clayton Valley, located 16 miles to the south. The north end of Clayton Valley hosts Chemetall Foote Corporation’s Silver Peak Mine, the only lithium brine producer in the United States. Mine production comes from lithium enriched brines located below the surface. This plant has been in production since 1967.
The Company intends to evaluate the potential for lithium-enriched brines within this highly prospective basin.
Marc Morin, President and CEO of Ultra Lithium stated, “We are pleased with this significant expansion of our lithium brine claims in Nevada. We will now commence permitting for a drill program.”
Ultra Lithium Inc. is a Canadian junior mining exploration Company with a focus in lithium and associated minerals. The Company is committed to evaluating, developing and acquiring projects with potential for high return-on-investment.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Mr. Shahab Tavakoli, M.Sc., a technical consultant to the Company and a qualified person.
ON BEHALF OF THE BOARD OF DIRECTORS,
Ultra Lithium Inc.
Per: “Marc Morin”
CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Suite 507 – 700 West Pender Street, Vancouver, BC, V6C 1G8
Telephone: (604) 669-9788
Facsimile: (604) 669-9768
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.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or 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.