ULTRA LITHIUM INC. — TSX.V-ULT

Archive for category: News Releases

Ultra Lithium Announces Financing, Termination Of Joint Venture Agreement And New Director.

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) announces that it has arranged a non-brokered private placement of shares with Beijing Zairun Mining Investment Co., Ltd (“BZMI”) at a price of $0.05 per share for gross proceeds of $1,000,000. The proceeds from the private placement will be used to fund the continuing exploration and development of the Company’s Balkans project and for general working capital purposes.

The Company also announces that the joint venture agreement with BZMI related to the Balkans project as announced in the Company’s news release dated June 18, 2013, has been terminated. Ultra Lithium through its wholly owned subsidiary, Ultra Balkans D.O.O. Beograd, retains 100% of the Balkans project.

At the Company’s annual and special meeting held on August 7, 2014, Mr. Jiancheng Peng was elected as a new member of the Board of Directors. Mr. Peng brings over 30 years of experience in engineering and finance. He is the Chairman and founder of Chengdu Tonghui Investment Management Corp., an investment firm in China. Mr. Peng obtained his Bachelor’s Degree in Engineering from Southwest Jiaotong University in 1982.

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.

Ultra Lithium Commences Drilling On Its Lithium And Boron Properties

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that drilling has commenced on its Koceljeva prospecting license in Serbia.

The Company intends to drill a minimum of 6,000 meters on its Kragujevic, Tnarva, Koceljeva, Preljina and Ladveci prospecting licenses. In conjunction with the drilling, further geophysics will be performed. Follow up exploration of the Blace concession is also planned. Ultra currently holds a total of 7 prospecting licenses covering an area of approximately 643 square km.

Beijing Explo-Tech Engineering Co. has been engaged to conduct geophysical surveys over the concessions.

The Ultra Balkans Project is a joint venture between Ultra Lithium Inc. and Beijing Zairun Mining Investment Co., Ltd. (“BZMI”). BZMI has the right to earn up to a 35% interest in Ultra Balkans by funding up to $3,500,000 of exploration expenditures on the Ultra Balkans Project.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved on behalf of the Company by Mr. Shahab Tavakoli, P.Geo, Geophysicist, M.Sc., a Qualified Person under NI 43-101.

For more technical information on the Balkans Project, please refer to: http://ultralithium.com/properties-balkans/

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.

Ultra Lithium Inc. Provides Exploration Update on Balkans Properties in Serbia

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to provide an update on exploration activities on its exploration concessions in Serbia. The Company has now received and reviewed all geochemical analyses for the recent drill program, reviewed geological drill logs, held discussions with the geological team and met with external borate deposit and lithofacies experts. Results and conclusions are as follows:

Valjevo East Concession
This property is located within an East-West belt of Tertiary sedimentary basins known to host borate mineralization. Subsequent to collecting surface geochemical rock samples and geophysical (Gravity and Audio Magneto Telluric (AMT)) data collection / interpretation, the property was tested by three drill holes totaling 931.0 meters. Lithium values ranged from 7 ppm to 203 ppm. Boron values ranged from 10 ppm to 172 ppm. The sedimentary environment within the concession was determined to be primarily open drainage (vs. closed basin) and it was filled with coarser material (including sandstone) than typically required for borate or lithium-borate mineralization to develop. Upon filing of a closing report to the Serbian government, this license will be relinquished.

Blace Concession
This property is a Tertiary sedimentary basin with mildly anomalous lithium and boron values (+100ppm) noted from previous surface geochemical rock sampling. Subsequent to collecting surface geophysical (Gravity and Audio Magneto Telluric (AMT)) data and interpretation, this property was tested by six drill holes totaling 4459.7 meters. Lithium values ranged from 6 ppm to 212 ppm. Boron values ranged from 10 ppm to 451 ppm. The sedimentary environment in the northwest quadrant of the concession was determined to be primarily ‘closed basin’ with a reducing environment and hosting fine-grained sediments. Drill holes BL-4, 6, and 7 tested the edges of a large gravity low. A statistical review of each of these drill holes displayed a bimodal distribution of Boron, suggesting local enrichment. Drillhole BL-7 encountered a broad interval (from 20-200m) of mildly anomalous Boron near surface and select deeper intervals of exposed core are developing a salty crust. Upon review of a pending lithofacies report by Professor Nebojsa Vasic of the University of Belgrade, Serbia, the Company intends to conduct further exploration and drill down dip (East) of the BL-7 interval noted.

Samples were processed by SGS laboratory in Bor, Serbia. Samples were run for 53 element geochemical analysis by ICP-MS. One meter core samples were sawn in half, with samples collected approximately every 10 meters, or when encountering a change in lithology.

Marc Morin, President and CEO, said, “We are pleased with our Serbian exploration to date. In addition to confirming a target sub-basin in Blace, we continue to refine our Lithium and Borate exploration models and will apply that knowledge to our remaining exploration concessions.

Updated project information can be found on the Company website as it becomes available.

The Ultra Balkans Project is a joint venture between Ultra Lithium Inc. and Beijing Zairun Mining Investment Co., Ltd. (“BZMI”). BZMI has the right to earn up to a 35% interest in Ultra Balkans by funding up to $3,500,000 of exploration expenditures on the Ultra Balkans Project.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved on behalf of the Company by Mr. Shahab Tavakoli, P.Geo, Geophysicist, M.Sc., a Qualified Person under NI 43-101.

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.

Ultra Lithium Completes Nine Hole Drilling Campaign At Its Balkan Lithium & Boron Projects In Serbia

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has completed nine (9) holes, totaling 5390.70 meters of diamond drilling on the Company’s Valjevo East and Blace exploration claims.

The current drilling program tested several targets that were identified by previous Audio Magneto-Telluric (AMT) and gravity geophysical surveys.

Core samples have been dispatched to SGS in Bor, Serbia for multi-element assays including Lithium and Boron. The Company expects to receive all lab analysis by the end of March, 2014.

To date, 1124 AMT survey points along with 1365 gravity point measurements have been collected which have identified several targets within the company’s 7 exploration properties with a total area of 676.54 Sq. km.

Upon receipt of assay results, the Company will analyze and review all the data and plan this year’s exploration program.

The drilling program was supervised by Igor Sikic, P.Geo., a non-independent Qualified Person as defined by National Instrument 43-101. Mr. Sikic has reviewed and approved the contents of this press release.

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.

Ultra Lithium Enters Into A Letter Of Intent For South Big Smoky Valley, Nevada Joint Venture

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has signed a non-binding Letter of Intent (‘LOI”) with CCG Mining (Canada) Inc. (“CCG”) with respect to a joint venture to explore and develop ULI’s South Big Smoky Valley claims located in Nevada, USA (the “Property”). CCG Mining Inc. is a subsidiary of CCG Group which is a state owned entity responsible for prospecting and exploring mineral deposits in China as well as around the world. It was established in 1972 and is headquartered in Jinan, the Capital City of Shandong province, China. CCG Group has over a thousand geologists and supporting staff.

Under the terms of the LOI, CCG undertakes and commits to fund up to $2,000,000 of qualifying exploration expenditures in the Property to acquire up to a 35% equity interest in the joint venture over a period of three years. CCG will earn a 10% equity interest for a $500,000 investment in the first year, an additional 10% equity interest for a $500,000 investment in the second year and an additional 15% equity interest for a $1,000,000 investment in the third year. Upon CCG’s full exercise of its option, the joint venture will be owned 65% by ULI and 35% by CCG.

CCG will have the right of first refusal to further fund and increase its ownership in the joint venture in addition to its 35% share should ULI grant a further option of its interest in the Property.

ULI’s CEO, Marc Morin comments, “We are delighted to work with our new partners CCG to explore and develop the South Big Smoky Valley property.”

The Property consists of 664 placer 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.

Completion of the transaction contemplated herein is subject to certain conditions including but not limited to the signing of a definitive agreement on or before March 16, 2014 and the receipt of all necessary regulatory and third party approvals.

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
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.

Ultra Lithium Announces Appointment of Technical Adviser And Sale of Ontario Property Interest

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to welcome a world-class borate and lithium expert, Mr. Jerry Aiken, to the Company’s Technical Advisory Board.

Mr. Aiken has more than 42 years of experience in the mineral exploration business involving base and precious metals and industrial minerals with most recent emphasis on Lithium, Potash and Borates.  He has been involved in project generation, geologic mapping, geochemical evaluation, drill program supervision and regional program management throughout the Western United States, Canada, Mexico, South America and parts of Europe.

Marc Morin, CEO and Director, said, “We are delighted to add someone of Mr. Aiken’s caliber to our team at Ultra Lithium. He brings a vast amount of international experience and will be a valuable asset to the Company. We look forward to working with Jerry in advancing and developing the Company’s lithium and boron project in Serbia.”

The Company also wishes announce it has entered into an agreement with Canadian Orebodies Inc. (“Orebodies”) for the sale of the Company’s remaining 20% interest in the ZigZag Lake property in Ontario. As consideration, 500,000 shares of Orebodies shall be issued to the Company.

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.

Ultra Lithium Announces New Director

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that at the Company’s annual general and special meeting, Mr. Jinshui Zhao has been elected to the Board of Directors of the Company.

Mr. Zhao is the Executive Vice President and Director of the Department of Overseas Projects for Beijing Exploration Technology and Engineering Co., Ltd. (“BETEC”) since October 2004. Prior to joining BETEC, he had 20 years of technical experience with Anhui Prospecting Technology Institute, formerly known as the First Comprehensive Geophysical Prospecting Group of the Ministry of Geology and Mineral Resources.

Marc Morin, CEO and Director, said, “Mr. Zhao has extensive technical qualifications and significant industry experience. He will be a valuable addition to our Board.”

The Company granted 250,000 stock options to Mr. Zhao pursuant to the terms of the Company’s stock option plan. The options are exercisable at a price of $0.10 per share for a period of 5 years from the date of grant and will vest over 18 months.

The Company wishes to thank and acknowledge Edward Kelly for his services as a former director.

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.

Ultra Lithium Announces Staking of Additional Mineral Claims

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” 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
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.

Ultra Lithium Provides Exploration Update on Balkans Properties in Serbia

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to provide an update on exploration activities on its properties in Serbia. This summer the Company commenced a Phase 2 exploration campaign with four teams covering all seven of the Company’s properties. In June and July two teams performed gridded Audio Magneto-Telluric (AMT) geophysics, one team conducted gravity measurements and a fourth team conducted sampling and mapping. Seven drill holes are planned for a total of 3,500 metres. Two holes have already been completed with a third and fourth currently in progress at the Blace mineral concession. Drilling is expected to continue until the end of November.

Marc Morin, President and CEO said, “We are very pleased with our progress this summer. The amount of data we have collected, in combination with our drilling is essential to advance the project and prepare for Phase 3 exploration. We look forward to positive results from both our geophysics and drilling programs.”

Updated project information can be found on the company website as it becomes available.

Highlights of the work program to date include:

  • 2024 metres of drilling completed.
  • 1243 gravity data points completed on the Valjevo East and Blace concessions.
  • 460 AMT points collected.

Planned work programs for remainder of 2013:

  • Completion of drilling.
  • Core logging/assaying.
  • Comprehensive data compilation in preparation for Phase 3 exploration program planned for spring 2014.

The Ultra Balkans Project is a joint venture between Ultra Lithium Inc. (95%) and Beijing Guofang Mining Investment Co., Ltd. (“BGMI”) (5%). BGMI has the right to earn up to a 35% interest in Ultra Balkans by funding up to $3,500,000 of exploration expenditures on the Ultra Balkans Project.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved on behalf of the Company by Mr. Shahab Tavakoli, P.Geo, Geophysicist, M.Sc., a Qualified Person under NI 43-101.

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.

Ultra Lithium Commences Drilling At The Balkans Lithium And Boron Properties In Serbia

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that drilling has commenced on the Company’s lithium and boron targets in Serbia. The initial phase of drilling will consist of approximately 3,500 meters of core in 7 holes testing anomalous AMT targets in the Blace and Valjevo East prospecting licenses.  The first four drill holes will test the Blace prospecting license, and the subsequent three drill holes will test targets at the Valjevo East prospecting license. The Company has commissioned a second drill rig which will be mobilized to the property within the next 2 weeks.

Ultra currently holds a total of 7 prospecting licenses, covering an area of approximately 643 square km. within well-defined sedimentary basins throughout Serbia. Under new mining laws each license has a 3 year term, extendable up to a total of 7 years.

The Ultra Balkans Project is a joint venture between Ultra Lithium Inc. (95%) and Beijing Guofang Mining Investment Co., Ltd. (“BGMI”) (5%). BGMI has the right to earn up to a 35% interest in Ultra Balkans by funding up to $3,500,000 of exploration expenditures on the Ultra Balkans Project.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved on behalf of the Company by Mr. Shahab Tavakoli, P.Geo, Geophysicist, M.Sc., a Qualified Person under NI 43-101.

For more technical information on Ultra’s Balkans Project, please refer to: http://ultralithium.com/properties-balkans/

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.