ULTRA LITHIUM INC. — TSX.V-ULT

Tag Archive for: Lithium Projects

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Ultra Lithium Announces Shares for Debt Transaction

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) has entered into a shares for debt agreement, pursuant to which ULI will issue 100,000 common shares in satisfaction of $8,000 of indebtedness owed to a former officer of the Company for unpaid expenses.

ULI determined to satisfy the indebtedness with common shares in order to preserve its cash for exploration of the Company’s South Big Smokey Valley project in Nevada. The shares will be issued upon acceptance by the TSX Venture Exchange. The common shares issued in satisfaction of the indebtedness will be subject to a four month hold period from the date of issuance.

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. The Big Smoky Valley project is in the vicinity of Abermarle’s Silver Peak mine and only 310 kilometres from Tesla’s upcoming Gigafactory.

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 Announces Appointment of Andrew Lee Smith to Board of Directors

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that Mr. Andrew Lee Smith has been appointed to the Company’s board of directors.

Mr. Smith is a Professional Geologist. He has over 25 years of experience successfully exploring, developing and operating African and North American base and precious metals mining projects. He also holds Directorships and management positions with a number of other junior exploration companies.

Mr. Smith holds a BSc in Earth Sciences from the University of Waterloo and is a professional geologist and a member of the Association of Professional Engineers and Geoscientists of British Columbia. He received the Mining Entrepreneur of the Year Award in 1994 from the Quebec Prospectors Association for his role in mine development with Aurizon, and was named Outstanding Alumnus of 2009 by the Science Faculty of the University of Waterloo for his contributions to mineral exploration.

In 2015, Mr. Smith competed the International Corporate Directors Education Program and received the ICD.D accreditation, the only professional designation for Canadian directors recognized both nationally and internationally.

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. The Big Smoky Valley project is in the vicinity of Abermarle’s Silver Peak mine and only 310 kilometres from Tesla’s upcoming Gigafactory.

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 Announces Closing of Private Placement

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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 the sale of 8,970,000 units at $0.05 per unit and 8,600,000 units at $.0525 per unit for total gross proceeds of $900,000.

Each Unit is comprised of one common share and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase an additional common share of the Company at an exercise price of $0.10 per share for a period of one year from closing of the private placement.

The proceeds from the Private Placement will be used to fund the exploration of the Company’s South Big Smoke Valley property 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 has been accepted 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 focused on North American acquisitions and exploring its Big Smoky Valley Project located in Nevada, USA. The Big Smoky Valley project is in the vicinity of Abermarle’s Silver Peak mine and only 310 kilometres from Tesla’s upcoming Gigafactory.

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 Announces Increase in Size of Private Placement

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that due to the oversubscription of its previously announced non-brokered private placement, the Company is increasing the size of its private placement. The Company will now issue up to 8,970,000 units at $0.05 per unit and up to 8,600,000 units at $.0525 per unit for total gross proceeds of up to $900,000. Each Unit will be comprised of one common share and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase an additional common share of the Company at an exercise price of $0.10 per share for a period of one year from closing of the private placement.

The proceeds from the Private Placement will be used to fund the exploration of the Company’s South Big Smoke Valley property 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 focused on North American acquisitions and exploring its Big Smoky Valley Project located in Nevada, USA. The Big Smoky Valley project is in the vicinity of Abermarle’s Silver Peak mine and only 310 kilometres from Tesla’s upcoming Gigafactory.

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 Announces Private Placement

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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 9,000,000 units (the “Units”) of the Company at a price of $0.05 per Unit for aggregate proceeds of up to CDN$450,000. Each Unit will be comprised of one common share and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase an additional common share of the Company at an exercise price of $0.10 per share for a period of one year from closing of the private placement.

The proceeds from the Private Placement will be used to fund the exploration of the Company’s South Big Smoke Valley property 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 focused on North American acquisitions and exploring its Big Smoky Valley Project located in Nevada, USA. The Big Smoky Valley project is in the vicinity of Abermarle’s Silver Peak mine and only 310 kilometres from Tesla’s upcoming Gigafactory.

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 Completes Share Consolidation

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that the TSX Venture Exchange has approved a consolidation of its common shares on a 10 for 1 basis (the “Consolidation”). The Consolidation will take effect at the opening on Friday September 18, 2015.

On April 23, 2015 the Board of Directors voted to consolidate the shares capital of the company on the basis of ten (10) common shares for one (1) new share of the company. The Company currently has 232,622,505 common shares outstanding and will have 23,262,251 common shares outstanding after consolidation. The Board of Directors anticipate the consolidation will further assist the company to obtain additional financing.

The Company’s name and stock trading symbol “ULI” have remained the same.

No fractional shares will be issued as a result of the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares. In addition, the exercise price and number of common shares of Ultra Lithium issuable upon the exercise of outstanding stock options and warrants will be proportionately adjusted to reflect the Consolidation.

A letter of transmittal will be mailed to registered holders to be used to exchange their current share certificates for certificates representing the consolidated number of common shares in connection with the Consolidation.

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. The Big Smoky Valley project is in the vicinity of Abermarle’s Silver Peak mine and only 310 kilometres from Tesla’s upcoming Gigafactory.

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 Announces Share Consolidation

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) announces that the Board of Directors voted to consolidate the shares capital of the company on the basis of ten (10) common shares for one (1) new share of the company. The Company currently has 232,622,505 common shares outstanding and will have 23,262,251 common shares outstanding after consolidation. The Board of Directors anticipate the consolidation will further assist the company to obtain additional financing.

The consolidation is subject to acceptance of filing with 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 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 Announces Changes to Officers and Board of Directors

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that Mr. Weiguo Lang has been appointed to the Company’s board of directors. Mr. Lang has also been appointed interim Chief Executive Officer. Ms. Kiki Smith has been appointed as Chief Financial Officer.

Dr. Weiguo Lang has more than 20 years of experience in the mining, technology and agriculture sectors, with a focus on building strategic alliances, joint ventures and financing. Dr. Lang is the Executive Director of a Hong Kong Stock Exchange listed company, Zhongsheng Resources Holdings Limited (Symbol: 2623.HK), primarily responsible for business development and investment. Prior to that, he acted as director for Klondex Mines Ltd., Agro International Inc., Zhongrun (Tianjin) Mining Development Co., Ltd., Ventek Systems Inc. and Q-Net Technologies Inc. Dr. Lang received his Bachelor Degree in Engineering from Agriculture University of Heilongjiang, and then obtained his Master’s and Doctorate degrees in Engineering from the University of Saskatchewan, Canada.

Ms. Smith has over 20 years of experience assisting private and public companies in the roles of Accountant, Corporate Controller and CFO in mining, oil and gas, real estate, high technology, food production and investment fund management. Ms. Smith currently provides consulting services in mergers and acquisitions, financial reporting and regulatory compliance to several public and private companies in the resource, food production and investment sectors. Ms. Smith graduated from the University of British Columbia in 1989 with a Bachelor of Arts Degree in Economics. She holds a Certified General Accountant designation from the Certified General Accountants Association of British Columbia.

In conjunction with these appointments, Mr. Marc Enright-Morin, Ms. Nilda Rivera and Mr. Van Phu Bui have resigned as directors and officers of the Company. The Company wishes to thank them for their service and contributions and wishes them the best in their future endeavours.

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.

Rock Tech Lithium Inc Grants Ultra Lithium An Exclusive Right To Purchase The Georgia Lake Lithium Project

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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 entered into a Letter of Intent (“LOI”) with Rock Tech Lithium Inc. pursuant to which Ultra Lithium has been granted the sole and exclusive right to purchase a 100% interest in Rock Tech Lithium’s Georgia Lake lithium project in Ontario (the “Project”).

To purchase the Project, Ultra Lithium must deliver $750,000 in cash and $750,000 in common shares of Ultra Lithium over a six-month period.

The Project is comprised of 22 mineral claims and 81 mining leases covering an area of approximately 4,594 hectares in the Thunder Bay Mining District of Ontario (Canada). Rock Tech Lithium’s National Instrument 43-101 (“NI 43-101”) reports an indicated resource estimate of 3.19 million tonnes at 1.10% Li2O and an inferred resource estimate of 6.31 million tonnes at 1.00% Li2O based on over 12,000 metres of diamond drilling, and surface channel sampling. (1)

(1) NI 43-101 resource estimate report dated August 29, 2012 is available on SEDAR, under Rock Tech Lithium’s profile. To the best of the Company’s knowledge, information, and belief, there is no new material scientific or technical information that would make the disclosure of the mineral resources inaccurate or misleading.

The Project has been explored for lithium bearing spodumene pegmatites since they were discovered in the 1950’s. According to historical records, work includes 40,000 metres of drilling over 335 holes testing the pegmatites, as well as line cutting, mapping, geophysics and geochemical analyses. A historical resource (non-NI 43-101 compliant) was estimated at 8.9 million tonnes with a weighted average grade of 1.19% lithium oxide. The resource estimate reported by Rock Tech Lithium in August 2012 has tested historical resource area of 4.9 million tonnes with a weighted average grade of 1.04% Li2O, and through additional drilling and channel sampling increased it to 3.19 million tonnes at 1.10% Li2O indicated resource and 6.31 million tonnes inferred resource at 1.00% Li2O. The remainder of the untested historical estimate is approximately 4 million tonnes grading 1.32% Li2O. In 1956, a vertical shaft was sunk on one pegmatite, the Nama Creek Main Zone North pegmatite, to a recorded depth of 500 feet. (2)

(2) The source of all historical resource estimates are taken from the Ontario Department of Mines Geological Report No. 31 titled, “Geology and Lithium Deposits of Georgia Lake Area”, by E.G. Pye, (1965), and from a report titled, “Report on the Geology of the MNW Property”, by B. Zayachkivsky (1986). A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as a current mineral resource or reserve. The historical estimate should not be relied on and does not comply with NI 43-101.

In October 2011, SGS Canada Inc. completed a metallurgical study on the Project’s lithium bearing pegmatite bulk samples. Metallurgical testing indicated that the spodumene material can be concentrated to a marketable 6.2% lithium oxide with recovery rate of 75.5% through heavy liquid separation and 81.1% by flotation. Additionally, lithium carbonate with 99.987% purity has been produced from these pegmatites, exceeding EV battery-grade specifications.

The Project has been supported by the local communities evidenced by Rock Tech Lithium’s joint memorandum of understanding (“MOU”) with three First Nations, Bingwi Neyaashi Anishinaabek, Biinjitiwaabik Zaaging Anishinaabek, and Animbiigoo Zaagi’igan Anishinaabek. The MOU provides a framework for future negotiations around an Impact and Benefits Agreement while ensuring that development of the Project is conducted in a manner that provides mutual benefits to all parties.

The Project is located approximately 145 kilometers northeast of the city of Thunder Bay. The principal means of access to the area is Highway No. 11, with gravel and tertiary bush roads providing access to the claim groups. These mineral claims and mining leases are located in four different blocks of the Property.

Marc Morin, CEO of Ultra, stated that, “Ultra Lithium is very pleased with this potential acquisition. The project does not only have a NI 43-101 compliant resource in an area where the lithium pegmatites are open at depth and along strike but also has several other lithium pegmatite dykes representing future exploration targets. These pegmatites have demonstrated excellent metallurgical results exceeding EV battery grade specifications. The Project enjoys good infrastructure support and its location which is within 150 kilometres from a world class deep water port gives it an advantage. The Company believes that with the continued support of the First Nations groups and local community, it has the ability to move the Project forward with the backing of its Asian investment partners.”

This transaction is subject to a number of conditions, including but not limited to the approval of TSX Venture Exchange.

The technical information contained in this news release has been reviewed and approved by Shahab Tavakoli, P. Geo., a qualified person, as defined by 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 Closes $1 Million Financing

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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 closed its non-brokered private placement previously announced on August 18, 2014. Ultra raised $1,000,000 through the issuance of 20,000,000 common shares at a price of $0.05 per share.

All shares issued under the private placement will be subject to a four month hold period expiring on January 19, 2015, pursuant to applicable Canadian securities laws and the policies of the TSX Venture Exchange (“Exchange”).

The proceeds from the private placement will be used primarily to fund the exploration of the Company’s Balkans Project in the Republic of Serbia and for general working capital purposes.

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.