ULTRA LITHIUM INC. — TSX.V-ULT

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Ultra Lithium Appoints A New Director

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce the appointment of Mr. Edward Kelly as a Director to fill the vacancy created by the resignation of Mr. Roopinder Mundi. Mr. Mundi has resigned from the Board of Directors of Ultra effective today due to prior commitments. The Board would like to thank Mr. Mundi for his service to the Company and wishes him the best in his future endeavours.

Mr. Kelly is a Director, President & CEO of Inca One Metals Corp. (TSXV: IO), a Director of Prescient Mining Corp. (TSXV: PMC) and a Director of Lornex Capital Inc. (TSXV: LOM). He is an entrepreneur with over 20 years of management experience in sales, marketing and business development. The majority of Mr. Kelly’s experience comes in the form of working with private and public companies where he has served as an officer and a director of ClickHouse.com and Dajin Resources Corp. Mr. Kelly obtained his Bachelor of Business Administration from Trinity Western University.

Mr. Kelly has been granted 250,000 stock options of the Company at a price of $0.10 per share expiring five years from date of grant.

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 To Extend Term Of Share Purchase Warrants

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) wishes to announce that it will extend the term of 2,000,000 outstanding share purchase warrants issued pursuant to a non-brokered private placement which closed on April 6, 2010. The warrants were originally exercisable for two years. The Company will extend the expiry date by three years, from April 6, 2012 to April 6, 2015. Each warrant entitles the holder to purchase one common share in the capital stock of the Company at a price of $0.10 per share. There are no other proposed changes to these warrants.

The transaction is subject to acceptance for filing by the TSX Venture Exchange.

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 Signs LOI For $4.25 MM Strategic Alliance

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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 non-binding letter of intent (“LOI”) with Beijing Explo-Tech Engineering Co. Ltd. (BETEC) to form a strategic alliance for the exploration of its highly prospective Serbian exploration licenses (the “Property”).

This strategic alliance will allow Ultra to move its Property forward expeditiously, both from a financial and geological perspective. This partnership will ensure the rapid advancement of our exploration program with minimal dilution to the Company.

Ultra’s Chief Executive Officer, Marc Morin, commented, “We believe this $4.25 million investment highlights the unrecognized value of the Company’s lithium/boron assets and accomplishes several objectives for the benefit of Ultra and its stakeholders. We look forward to working with BETEC.”

Highlights of the LOI:

  • BETEC will invest CAD$750,000 through the purchase of units of securities of Ultra at $0.10 per unit.  Each unit will consist of one (1) common share of Ultra and one-half of one (1/2) common share purchase warrant, with each whole warrant entitling BETEC to acquire one (1) additional common share of Ultra at $0.15 per share for 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.

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 sq. km. of lithium/boron mineral exploration licenses in the Republic of Serbia.
  • All 7 exploration concessions are within well-defined sedimentary basins.
  • Standard exploration technique to define drill targets, “Magneto-Tellurics” and Gravity.
  • Proximity to infrastructure (rail/road/sea), (electricity), and (labour force).
  • Ultra has 100% ownership of its’ exploration licenses.
  • The same geological belt as Rio Tinto’s Jadar deposit. Rio Tinto is completing a $27 million pre-feasibility study. They are projecting production for 2016.
  • Rio Tinto’s Jadar deposit could produce up to 20% of the current worldwide annual lithium demand.
  • Off the shelf technology can process Jadarite ore (soda ash / sulfuric acid).

About Beijing Explo-Tech Engineering Co. Ltd.
BETEC is a high-tech 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 LOI, BETEC will invest CAD$750,000 through the purchase of units of securities of Ultra at $0.10 per unit. Each unit will consist of one (1) common share of Ultra and one-half of one (1/2) common share purchase warrant, with each whole warrant entitling BETEC to acquire one (1) additional common share of Ultra at $0.15 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, satisfactory completion of a definitive agreement as well as the equity financing, acceptance by the TSX Venture Exchange of the proposed transaction, and other applicable shareholder and regulatory approvals. There can be no assurance that the proposed transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the proposed transaction, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon.

Ultra intends to issue further announcements as the definitive agreement is signed, due diligence is completed and other milestones are achieved.

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 Acquires Additional Exploration License 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 been granted one (1) additional lithium/boron exploration license (prospects) in the Republic of Serbia, through its wholly-owned subsidiary, Ultra Balkans doo, for the Blace mineral prospect, by the Ministry of Environment, Mining and Spatial Planning. The successful exploration license application covers an area of approximately 99 square km.

With the grant of this additional exploration license, Ultra currently holds a total of seven (7) exploration licenses that cover approximately 643 square km of prospective stratigraphy. All prospects have the potential to host significant lithium and boron bearing Jaderite mineralization that forms within fine- grained, well-layered lacustrine sediments of Tertiary age.

In terms of progress, we would like to inform our shareholders of the following developments:

We have opened our office in Belgrade and have hired local geological staff. We have also begun compiling government regional geophysical data and completed field reconnaissance.

Our next step will be to assess and review data as well as initiate magnetotelluric surveys on our concessions. Further updates will follow.

Please visit the Company’s website (www.ultralithium.com) to view the location maps of our mineral prospects.

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 on behalf of the Company by Mr. Phu Van Bui, P.Geo, an Independent Director and Qualified Person under NI 43-101.

Ultra Lithium Inc. is a Canadian junior mining & exploration company with focus in lithium and rare earth metals.

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 Acquires 344 Square Kms of Serbian Mineral Concessions with Lithium and Boron Potential

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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 been granted four (4) additional lithium/boron exploration licenses (prospects) in the Republic of Serbia through its wholly-owned subsidiary, Ultra Balkans doo, for the Valjevo East, Koceljeva, Ladevci and Preljina mineral prospects, by the Ministry of Environment, Mining and Spatial Planning. The successful exploration license applications cover an area of approximately 344 square km in total.

With the grant of these four (4) additional exploration licenses, Ultra currently holds a total of six (6) exploration licenses that cover 544 square km of prospective stratigraphy. All prospects have the potential to host significant lithium and boron bearing Jaderite mineralization that forms within fine- grained, well-layered lacustrine sediments of Tertiary age.

The Company intends to conduct field reconnaissance, mapping, geochemical sampling and geophysical surveys during the remainder 2011 to prioritize drill targets.

Marc Morin, President and Chief Executive Officer stated, ????We are pleased to have been awarded the additional licenses and intend to fast track our exploration program in the Balkans region, especially with the news of Rio Tinto????s commitment of spending $27 million to conduct a pre-feasibility on its Jadar deposit.???? (1)

Valjevo East is a highly ranked mineral prospect which covers an area of approximately 78 square km located approximately 60 km south of Belgrade, in the Municipalities of Ljig and Lazarevac, Central Serbia. It is situated adjacent to Pan Global Resources???? Valjevo and Ljig mineral prospects.

The Koceljeva mineral prospect is situated approximately 60 km southwest of Belgrade in the Municipalities of Vladimirci and Sabac. It covers an area of almost 66 square km and is situated approximately 20 km east of Rio Tinto????s Jadar Li-B deposit (114Mt @ 1.8% Li2O & 13.1% B2O3) where production is estimated to commence in 2016.(2) The Koceljeva property hosts a distinct sedimentary sequence which the Company believes to be geologically correlated to Rio Tinto????s Jadar deposit.

The Ladevci and Preljina mineral prospects cover an area of approximately 100 square km each and are located in the central part of Serbia, in the Municipalities of Cacak, Kraljevo and Gornji Milanovac, approximately 100 km south of Belgrade. The tenements comprise the northern part of the NW-SE trending Morava depression (more than 1,000 square km in size) that hosts a promising basin system. Preljina and Ladevci properties are situated to the north of Trnava tenement that were awarded to Ultra Balkans last month and north of Rio Tinto????s Janok mineral prospect.

Ultra Lithium is the 100% owner and operator of these exploration licenses. The Company is also pleased to announce that in accordance with its strategy of expansion, additional exploration licenses have been applied for in the Republic of Serbia which hosts high quality targets for Lithium-Boron mineralization within its Miocene-aged sedimentary basins.

Please visit the Company????s website (www.ultralithium.com) to view the location maps of our mineral prospects.

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 on behalf of the Company by Mr. Phu Van Bui, P.Geo, an Independent Director and Qualified Person under NI 43-101.

Ultra Lithium Inc. is a Canadian junior mining & exploration company with focus in lithium and rare earth metals.

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.

Canadian Orebodies Drills Widespread Tantalum Mineralization on Zigzag Property

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce assay results which demonstrate a zone of strong tantalum values over a 670 meter strike length from the initial drilling program on the Tebishogeshik showing on its Zigzag Tantalum/Lithium and Rare Metals property (the “Property”) under option from Ultra Lithium Inc. (TSXV: ULI) (“Ultra”). The Property is subject to an Option Agreement with Ultra and the underlying property owners to acquire an 80% legal and beneficial interest (subject to a 2% NSR retained by the Owners, 50% of which can be purchased by Orebodies for $1,000,000).

Highlights

  • Hole CO-10-008 assayed 299.07 ppm Ta2O5 over 6.92 meters, which includes 399.82 ppm Ta2O5 over 2.92 meters.
  • Hole CO-10-007 assayed 197.29 ppm Ta2O5 and 1.08 % Li2O over 6.1 meters, which includes 240.18.29 ppm Ta2O5 and 1.49 % Li2O over 3.05 meters.
  • Hole CO-10-010 assayed 237.68 ppm Ta2O5 over 3.65 meters.
  • Zone of strong tantalum enrichment over a 670 meter strike length.

Zigzag Property Overview

The Property in total consists of 129 claim units comprising 2,064 hectares, located approximately 60 km northeast of Armstrong, Ontario. The property is host to 5 historical lithium and rare metal showings of consequence.

Historical highly anomalous tantalum and cesium values are notably widespread on the property and indicate a high potential for zoned, complex-type pegmatites enriched in tantalum and cesium. Complex-type pegmatites are excellent targets for economic deposits of lithium, tantalum, cesium and rubidium such as the Tanco pegmatite in Manitoba.

Zigzag Drilling Overview

There were a total of 8 short holes drilled on the Tebishogeshik showing on the Zigzag property, totalling 484.6 meters during Orebodies initial program. Each hole drilled intersected pegmatite which demonstrates approximately 670 meters of strike length from hole CO-10-008 on the west to CO-10-011 on the East end. Results from every hole, except CO-10-004, demonstrate there if a zone of strong tantalum enrichment with highly anomalous values for other rare metals. Due to the fact that CO-10-004 assayed uncharacteristically low in tantalum values it is being sent back to the lab to be re-assayed.

Gordon McKinnon, President & CEO commented “This initial drill program was very successful in demonstrating that there is a significant tantalum mineralization zone on the Zigzag property that extends for 670 meters and remains open in all directions.” Gordon McKinnon further commented “It should be noted that tantalum prices have been increasing significantly in the past year and are anticipated to remain at these elevated levels for some time as numerous constraints continue to put pressure on the tantalum market.”

TABLE 1 – HIGHLIGHTED DRILLING ASSAYS FOR TEBISHOGESHIK SHOWING

Channel #

From (m)

To (m)

Width (m)

Ta2O5 (ppm)

Li2O (%)

Be (ppm)

Cs (ppm)

Nb (ppm)

Rb (ppm)

CO-10-005

10.73

21.10

10.37

86.92

0.27

36.07

132.40

32.65

803.35

Including

10.73

14.48

3.75

192.79

0.45

79.05

71.93

58.91

870.93

CO-10-006

19.80

22.40

2.60

123.87

0.74

115.60

54.46

81.30

1201.54

CO-10-006

28.50

30.50

2.00

170.34

0.06

100.35

80.05

100.65

940.00

CO-10-007

12.45

18.55

6.10

197.29

1.08

114.07

56.55

69.33

1090.25

Including

12.45

15.50

3.05

240.18

1.49

146.80

39.07

82.42

580.00

CO-10-008

11.50

18.42

6.92

299.07

0.40

35.83

123.97

67.30

1434.88

Including

15.50

18.42

2.92

399.82

0.58

62.76

118.26

87.37

1522.74

CO-10-009

10.50

18.65

8.15

188.17

0.35

140.62

51.87

69.55

1079.26

CO-10-010

34.20

37.85

3.65

237.68

0.93

96.62

64.06

105.40

1102.19

CO-10-011

14.50

18.56

4.06

106.08

0.27

194.10

64.12

84.38

1618.28

CO-10-011

39.50

41.95

2.45

223.44

0.07

126.92

248.98

46.78

859.98

(Widths above are the intercepted widths of the mineralized zone, true widths are not known at this time.)

Tantalum Information

Tantalum is a specialty metal which is highly corrosion resistant and has the highest ability to hold and release electricity. These characteristics make it essential for electronic devices (tantalum capacitors) and specialty applications such as jet engines. Several events in the global market have caused the price of tantalum to increase significantly as of late, mainly the fact that two of the largest producers have shut down (Tanco deposit in Canada and Talison Tantalum in Australia) which represents nearly half of the world market. These shutdowns have led to a global supply that has fallen behind demand and the market now requires additional production from new projects.

Orebodies Zigzag property is very interesting for the fact that besides high grade lithium, tantalum could have one of the most considerable economic benefits as historically there have been a significant amount of samples collected that demonstrate widespread, high grade results. Breaks (2003) stated that individual analysis from the Tebishogeshik Lens 3 exceeded 80 wt % Ta2O5 and were amongst the highest documented in lithium-rich pegmatite of Ontario.*

*(historical in nature and not 43-101 compliant and therefore should not be relied upon.)

It should be noted that typically samples with higher tantalum values tend to have low lithium values as is representative of sodic aplite and albitite-rock units that represent significant host- rocks for tantalum mineralization. This is demonstrated by the Tanco Mine in Manitoba and the Wodgina and Greenbushes Mines of Western Australia. However, there are samples with high lithium values that also carry strong anomalous tantalum.

A thorough quality control program is in effect which includes inserting standards and blanks alternating every 25 samples. All samples were submitted to ALS and analyzed using four acid digestion and ICP-MS. For more information on assay methodology please visit the ALS Laboratory Group. Website at http://www.alsglobalcom

This press release has been prepared under the supervision of Mr. Don Hains (P.Geo.)., who is an independent consultant to the Company and a “qualified person” (as such term is defined in National Instrument 43-101). Mr. Hains has verified the technical data disclosed in this press release.
For more information please contact:

Gordon McKinnon, President & CEO Canadian Orebodies Inc.
(705) 268-9000 www.canadianorebodies.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 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 of 7,500,000 units for gross proceeds of $750,000. Each unit consists of one common share and one-half common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share of the Company at $0.10 per share at any time until February 17, 2013. The expiry date of the warrants may be accelerated by the Company if its shares trade at $0.20 or higher for 10 consecutive trading days.

The Company shall pay $63,250 and issue 112,500 units (having the same terms as in the private placement) as finders’ fees on this private placement.

The securities issued under the private placement are subject to a four month hold period expiring June 18, 2011.

The financing proceeds will be used to fund project due diligence 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.

Ultra Lithium Announces Increase in 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 increased its non-brokered private placement as previously announced on January 31, 2011. The private placement has been increased from 5,000,000 units to 7,500,000 units at a price of $0.10 per unit. If fully subscribed, aggregate gross proceeds of the offering will be $750,000. All other terms of the private placement remain the same.

Completion of the private placement is subject to acceptance for filing by the TSX Venture Exchange.

The Company also wishes to announce that due to other commitments, Tony M. Ricci has resigned from the Board of Directors. The Board of Directors recognizes and thanks Mr. Ricci for his contributions to the Company and wishes him well in his endeavours.

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 Investor Relations Firm Engaged in Europe

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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 retained Deutsche Investor-Relations GmbH (“DIRG”) of Berlin, Germany to provide investor relations services in Europe. Ultra Lithium and DIRG are at arm’s length.

DIRG provides a multitude of investor relations services to publicly traded companies who is looking to establish support in Europe. DIRG will create an online presence for Ultra Lithium through the creation of a corporate profile on www.wallstreetonline.de, with the intention of creating a multifaceted investor relations program based on Ultra Lithium’s profile.

DIRG will be paid a fee of €2,500 EURO per month for a period of 6 months, subject to automatic 6 month renewals unless cancelled in advance by either party, and will be granted options to acquire 261,000 shares at CAD $0.11 per share for a period of two years pursuant to the Company’s Stock Option Plan. These options will vest over a period of 18 months. The grant of these options is subject to TSX-V acceptance of the agreement with DIRG. DIRG does not presently hold any securities of Ultra Lithium.

Ultra Lithium also wishes to announce that it has granted 100,000 stock options to an officer of the Company, exercisable for a period of ten years, at a price of $0.11 per share.

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. Announces New Appointments and Change of Auditors

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce the appointments of Marc Morin as President and Chief Executive Officer and Roopinder Mundi as a Director.

Mr. Morin is a successful businessman and entrepreneur based in Vancouver, who has assisted various public and private companies raise capital through various institutions in Europe and North America. With approximately eight years of experience in the public and private markets he has garnered an extensive network of investment banking contacts and experience that is instrumental in the management and development of junior companies. Mr. Morin has also helped various companies go public via the RTO and IPO process. His primary focus has been on the resource and technology sectors.  Mr. Morin is the President and CEO of Sparrow Ventures Corp. a capital pool company and a director of Lornex Capital Corp.

Mr. Mundi serves as Vice President, Business Development for Kingsdale Shareholder Services Inc., a Canadian shareholder services firm. Prior to joining Kingsdale, Mr. Mundi was a corporate finance lawyer at both Cassels Brock & Blackwell LLP and Goodman and Carr LLP.  Mr. Mundi’s practice had an emphasis on public and private offerings, mergers and acquisitions and regulatory matters, primarily in the technology and mining sectors. Mr. Mundi acted as counsel on behalf of both issuers and investment dealers.  Mr. Mundi holds a law degree from the University of British Columbia, a Master’s degree from the University of Toronto and a Bachelor’s degree from North Carolina State University. Mr. Mundi is currently a director of two other companies listed on the TSX Venture Exchange. Mr. Mundi is also a member of the Canadian Bar Association and Ontario Bar Association.

The Company also wishes to announce that Dale Matheson Carr-Hilton Labonte, Chartered Accountants, has been appointed as the Company’s independent auditor. Dale Matheson Carr-Hilton Labonte, Chartered Accountants succeeds Minni, Clark & Company, Certified General Accountants as the Company’s auditor.

The Company has granted 400,000 stock options to directors of the Company, exercisable for a period of ten years, at a price of $0.10 per share.

On behalf of the Board of Directors
Tony Claydon, Director

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.