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Ultra Lithium Applies for Drill Permit for High Quality Brine Lithium Exploration Targets from Geophysical Surveys at Salar Laguna Verde in Argentina

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Vancouver, BC – Ultra Lithium Inc. (TSX-V:ULI, OTCQB: ULTXF and Frankfurt: QFB) today announced that the Company has applied for a drill permit at its Laguna Verde brine lithium property in Catamarca Province, Argentina. This is based on brine targets identified in an interpretation report of the ground geophysical surveys (Gravity and TDEM). The report indicates high value brine lithium exploration targets in a salar core area of 3.4 square kilometers within a potential brine basin of 23 square kilometres withthickness of 100 to 150 meters.

Ultra Lithium’s Highlights of 23 Square Kilometre Brine Basin

  • The core area of 3.4 square kilometres (km2) is the core area with resistivity below 3 ohm and can be used for brine extraction on a trial basis if feasible. The size of this core zone salar increases to 5.81 square kilometers at 125 m depth and to 9.44 square kilometres at 225 m depth below surface (see Figure below).
  • A potential salar area of 23 km2is calculated based on the g-shaped area of gravity around the core zone. The surface of this salar area is covered by high resistivity layer which is underlain by aeolian sediments and salt deposits. This interpretation willbe confirmed by drilling and sampling.
  • Gravity survey interpretation shows a major fault system exists to the east of the Laguna Verde Salar representing a 2.4-kilometer-thick Cenozoic basin,which requires further research.

Beijing Engineering CompanyCompletes Gravity and Time Domain Electromagnetic (TDEM) Surveys
A total of 39.2-line- kilometers of ground geophysical survey was completed in eight exploration lines, with azimuth of 137 degrees and 47 degrees from north. Total 312 Time Domain Electromagnetic (TDEM) points and 430 gravity points were measured at a spacing of 100 metres. As announced in Ultra Lithium’s June 25, 2018 News Release, the Company contractedBeijing Technology and Engineering Co., Ltd. (BETEC) from China to complete Gravity and Time Domain Electromagnetic (TDEM) surveys on its brine properties in Argentina.

Excellent Lithium Geochemical Analyses at Salar Laguna Verde Discovery Zone
The geophysical surveys were planned and executed to follow-up excellent lithium geochemical analyses from the Salar Laguna Verde Discovery Zone. This was detailed in Ultra Lithium’sFebruary 21, 2018 News Release, where assay results indicated brine samples with metal values up to 1,270 ppm lithium, 7,920 ppm magnesium, 15,800 ppm potassium, and 2,190 ppm boron. Average values of lithium in all samples is 526 ppm, boron 673 ppm, magnesium 1,916 ppm, potassium 7211 ppm and sodium 86,081 ppm. The Salar Laguna Verde Discovery Zone brine samples area is marked by low magnesium to lithium ratios, in the range of zero to 10.2 which will facilitate lower capital and operating costs.

Figure 1: Laguna Verde size of the salar area at various depth slices interpretation

“The geophysical surveyresults exceeded our expectations,” stated Dr. Weiguo Lang, CEO of UltraLithium, “Based on the geophysical survey interpretation, Ultra Lithium hasdeveloped a drill plan which has been submitted to the Catamarca Mining Ministry for permitting and approval.”

Ultra Lithium also announces that the survey work on the Amelia Brine Lithium Property has been completed and the results are being interpreted.

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of Ultra Lithium Inc.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina and hard rock spodumene type lithium properties at the Georgia Lake area in Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

lithium demand-battery-capacity

Lithium Demand Exceeds Supply

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Lithium Demand Rises

There are many reasons lithium demand exceeds supply. 

Electric Vehicles (EVs) increase in popularity. Mobile apps command more attention. Personal computers are a fixture of both home and office life.

lithium demand-elon musk-tesla

Elon Musk and Tesla understand the value of lithium

Lithium powers these technologies.

As a result, the world’s energy requirements have skyrocketed. So has lithium demand.

Most mobile phones can last 24 hours

This is possible even with heavy application use.

However, we ask more of batteries than ever before. More people are working from home and smartphones are no longer a choice.

lithium demand-smartphones

Increased lithium demand means Smartphone batteries last longer than ever

Smartphones’ Impact Tied to Lithium

Consider the tech sector’s widespread innovation. Most of that brainpower is directed at phones. The result: lower prices on what used to be considered ‘premium’ technologies.

The Bureau of Economic Analysis (BEA) found that annual phone prices have fallen 15.2% since 2003. 

Tech Advances are because of Smartphones

Engineers communicate faster and more efficiently than ever. 

Consequently, lithium-ion batteries are becoming more efficient.

lithium demand-battery-capacity

As lithium demand soars, so has battery capacity

As Batteries Shrink, Productivity Soars

Lithium-ion batteries are 1.4 times more expensive than lead-acid batteries. They’ve captivated a world addicted to faster processing speeds at lower prices. The only issue: mining lithium is a challenge. 

But lithium demand won’t wait.

LinkedIn, Facebook, SalesForce, Bumble and thousands of other applications rely on lithium. After all, a better way to power smartphones doesn’t exist.

How Large is Global Lithium Demand?

The global market for power banks could reach $25 billion by 2022. 

This market is likely to grow as the transportation sector electrifies. Securing lithium supply is becoming more important and challenging for manufacturers.

Volkswagen and Tesla Enter the EV Market

lithium demand-tesla

Volkswagen’s electric vehicles are expected to rival Tesla’s in popularity

They’ve both rapidly increased production quotas.

Not surprisingly, they aren’t alone.

Lithium Mining Tech hasn’t Matured

The technology used to explore and mine lithium hasn’t matured. Not like oil industry tech.

The science behind oil barrel production has enjoyed years of trial and error.

Meanwhile, society’s thirst for lithium has been sudden, exceeding the technology used to extract it. 

lithium demand-lithium triangle

South America’s Lithium Triangle the key to meeting global lithium demand

Lithium Demand Leads to the Lithium Triangle

54% of the world’s lithium is found in South America’s “Lithium Triangle.” 

This includes Argentina, Chile and Bolivia.

Australia is the world’s leading lithium-producing nation. It holds over 2.7 million Megatonnes (MT) of lithium reserves.

China gets most of its lithium from Australia

The communist state is the world’s largest producer of lithium-ion batteries and EVs. It is also investing heavily in exploration operations elsewhere.

Recently, a $265-million investment in a Canadian exploration project was finalized in 2017.

The Challenges in Finding and Mining Lithium

South America and Australia mine lithium in different ways. These are the world’s top producers.

The path to satisfying global lithium demand goes through them.

lithium demand-source

Lepidolite mica: will lithium demand ever be satisfied?

In Argentina, Chile and Bolivia, lithium is found in brine.

Here, lithium and cobalt naturally dissolve in natural salt pans called salars.

This process reduces the investment needed to extract lithium.

Evaporating Lithium Takes a While

These natural pools are filled with groundwater.

For now, miners wait for pools to evaporate. Potassium can be found in the early months.

Lithium is the end product, taking 5-6 months to dissolve. 

A technological breakthrough would speed things up.

lithium demand-lithium-pool

A large lithium pool in Argentina

Australia Uses Hard Rock Mining

Meanwhile, a more expensive method exists.

However, it leaves a larger environmental footprint. Drilling is more expensive than in brine mining, as boring through rock isn’t cheap.

What’s helped Australia is its ability to sell.

Australia and South America Fuel Chinese EVs

This has allowed Australia to spend big on exploration and mining operations.

Meanwhile, major brine producers like Orocobre are reporting less than expected results. 

As a result, hard rock mining has attracted buyers with deep pockets.

Consequently, speed is key.

lithium demand-australia-hard rock mining

Hard rock mining in Australia a hefty environmental cost

Lithium Needs Time

The technology behind mining needs to keep pace with lithium demand.

Brine mining is a cheaper, eco-friendlier alternative to hard rock mining.

An Evaporation Pond Tech Advance Would Change Everything

Rich countries like Australia can drill into rock to extract lithium. Developing countries can’t.

lithium demand-EV-adoption

EV adoption causes lithium demand to rise

As with any other breakthrough, ‘when’ is more important than ‘if.’

Ultra Lithium Inc. A team of lithium experts with a finger on the pulse of clean energy news, Ultra Lithium is a lithium exploration company with holdings in Argentina, Canada and the US (TSX-V:ULI, OTCQB: ULTXF and Frankfurt: QFB).

Ultra Lithium Acquires Forgan Lake Lithium Property in Northwestern Ontario

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Vancouver, BC – Ultra Lithium Inc. (TSX-V:ULI, OTCQB: ULTXF and Frankfurt: QFB) has entered into an agreement with International Lithium Corp. (TSX-V: ILC) to acquire 100% interest in the Forgan Lake Lithium property.

The 256-hectare lithium property consists of 16 units located in the Thunder Bay Mining District in Northwestern Ontario, Canada.

The Forgan Lake lithium property is comprised of one legacy claim TB4244103 (converted to 18 cell claims and two boundary claims as of April 10, 2018 by the Ontario Ministry of Northern Development and Mines). It is located adjacent to the Lucky Lake claim block on the northwestern part of ULI’s Georgia Lake lithium property.

Ultra Lithium inc. has acquired the Forgan Lake Lithium Property in Ontario

Historical work on the property was first carried out by Lun-Echo Gold Mines Limited between 1955-61. Exploration work included 39 drill holes, aggregating 10,561 feet (3,219 metres) on the eastern side of Forgan Lake.

Lithium mineralization on the Property is comprised of six spodumene-bearing pegmatites (Number 1 to 6 Pegmatites as described in the Ontario Department of Mines Geological Report No. 31).

Some of these Pegmatites continue onto the Lucky Lake claim block.

Several channel samples were taken on Number 1 Pegmatite by Lun-Echo Gold Mines Limited. Three samples, from about midway along the known length of the pegmatite were found to average 2.57% lithium oxide (Li2O) over a width of 21 feet (6.4 m); two samples from 80 feet (24.38m) southwest of the first three, averaged 4.23% Li2O over 24.5 feet (7.46m), and an additional two, from 225 feet (68.58m) farther southwest 1.98% Li2O over 25 feet (7.62m).

Dr. Weiguo Lang, CEO of UltraLithium:“We are very pleased with the acquisition of the Forgan Lake property which is adjacent to the Lucky Lake claim block. This acquisition will enhance the exploration potential of our Georgia Lake claims and strengthen our relationship with International Lithium. The Company intends to start a work program on the property as soon as historical data compilation is completed. We will then follow up with a near-term test production program using high-grade surface mineralization.”

CAUTIONARY NOTE: The historical results presented above 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 are relevant to the further exploration of the project which, the Company intends to undertake in the future. A qualified person has not done sufficient work to verify the results; therefore, they should not be relied upon and are presented for informational purposes only.

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

lithium-uses-everywhere

Lithium Uses: Glass and Ceramics

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Lithium uses go beyond car batteries

Lithium is about much more than batteries. Consumer electronics and electric vehicles account for only half of global lithium consumption. Surprisingly, lithium uses are diverse.

This misconception helps shape lithium market prices. Some believe undersupply is responsible for recent stagnation. Meanwhile, others suggest the world’s largest lithium consumer is responsible.

China is the world’s leading lithium importer

It has recently invested in lithium extraction projects of its own. Some of these projects are starting to bear fruit.

But lithium uses go beyond batteries. Lithium market price is closely tied to green transportation. Yes, EV manufacturers influence these valuations but don’t tell the whole story.

Now, let’s look at lithium uses in glass and ceramics.

Lithium Uses in Ceramics and Glass

lithium-uses-ceramic-pottery

Little-known lithium uses – Blue ceramic pottery in Okinawa

1) Reduces Thermal Expansion
Take a look at that family heirloom in your hallway. Why doesn’t it expand in the summertime?

Lithium is responsible.

Glass-ceramic cooktops are the best example of this.  Lithium holds the moulding in place. As a result, no thermal resistance or expansion. 

2) Increases Mould Strength
Lithium increases ceramic body strength. This improves durability. 

So, go ahead and place that 20-year-old pot on a wobbly pillar in the front hall.

3) Ensures Colour Consistency
When applied to mixtures like cement, lithium reduces colour change. Without it, base ceramic colours influence colouration.

That’s why the hallway pot remains the same colour after all these years.

4) Improves Durability
Lithium is a major reason why windows don’t wilt under pressure. Normal windows are double-glazed, with two glass panes separated by an air gap. This helps with insulation and soundproofing.

lithium-uses-window-insulation

Lithium is used to insulate windows from the sun

However, better windows use lithium. A thin layer of the lightest metal on earth keeps your home warm in the winter and cool in the summer

5) Increases Melt Rate and Lowers Viscosity
Lithium drastically reduces corrosion rates. It also ensures glass erodes slowly. Converting to an oxide while heating, lithium improves the physical properties of your kitchen window.

So, you can thank lithium for your ovenware. Without it, baked goods would be harder to make.

Now you know: lithium glass and lithium ceramics colour your world.

Lithium Market Price and Lithium Uses

Electric vehicles are expected to become more valuable. However, lithium exploration projects in Argentina aren’t exclusively tied to batteries.

Now you know: Ceramics and glass have played a major role in day-to-day life for decades.

Many technological advances in these areas are because of lithium. Even if you’ve never driven a Tesla, know that lithium affects your life every time you look outside your office window.

Or reach for that last cupcake.

Ultra Lithium Inc. A team of lithium experts with a finger on the pulse of clean energy news, Ultra Lithium is a lithium exploration company with holdings in Argentina, Canada and the US (TSX-V:ULI, OTCQB: ULTXF and Frankfurt: QFB).

Electric Vehicles and the Value of Lithium

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Aside from powering electric vehicles, what do you know about lithium?

You’re probably also aware that laptops, cell phones and other electronics rely on lithium-ion batteries for power. But is lithium’s value subject to the latest Elon Musk tweet? Will Trump’s favourable oil stance hurt sales of electric vehicles? Guess again.

Lithium and Batteries

Today, green tech dominates new headlines. Electric vehicles (EVs) are more common on urban roads.

Tesla produces 5,000 Model 3’s per week. China’s population of 1.37 billion plan on going 100% electric by 2030.

Lithium-ion (Li-ion) battery storage capacity keeps increasing, with some offering a 475 kW charge. Electric vehicles are expected to be road trip ready soon.

Lithium-ion batteries are holding longer charges than ever

Lithium-ion batteries are holding longer charges than ever

For these reasons and more, lithium is a hot commodity. As the world transitions to clean energy and batteries become more efficient, electric vehicle use skyrockets. Last year, sales of EV’s in Canada grew 68%. 

Lithium extracted in South America and Australia isn’t exclusively used in car batteries

On the contrary, batteries account for less than 50% of global lithium use.

Even more surprising: less than half are for electric vehicles. Even in 2018, lithium is more widely used in consumer electronics than on the road.

Lithium is More Than Just Tesla

This misconception has shaped public opinion. The general consensus is that lithium’s value is tied to Tesla. This is a mistake on more than one account. First, Tesla accounts for less than 2% of global lithium demand.

Plug-in vehicles rely on lithium-ion batteries

Electric vehicles rely on lithium-ion batteries

Second, Tesla is not the current leader in the electric vehicles space

Renault-Nissan is the current leader. The auto-alliance sold over 12,000 more EVs than Tesla in the first quarter of 2017.

Meanwhile, China-based BYD (Build Your Dreams) is the world’s best-selling EV manufacturer since 2015.

Closely behind is BAIC, a Chinese state-owned enterprise whose EC-Series city car was 2017’s best-selling electric vehicle.

Even out West, competitors like BMW and VW are catching up

BMW’s sales increased by 40% in 2018 , while VW has green-lit a $45 million EV awareness campaign.

These efforts will speed up the global shift to EVs. While Tesla’s importance is undeniable, it’s but one piece of a much larger puzzle.

Lithium Uses and Applications

In summary: lithium is about much more than batteries. From a global energy perspective, its importance dwarfs Tesla. But what else is it used for? You’d be surprised.

Electric vehicles are becoming increasingly popular

Electric vehicles are becoming increasingly popular

Lithium plays a major role in various industries

Among them: ceramics, glass, lubricants and polymers. Lithium can be cut by a kitchen knife and float on water. The stuff is malleable.

It’s also a mood stabilizer. Used to fight bipolar disorder and other mental illnesses, lithium salts are also used to treat depression when other antidepressants fail.

Lithium’s Role in the Green Revolution

Lithium uses and applications are varied. That’s a good thing. If EVs don’t penetrate the global market at expected levels, consumer electronics will ensure lithium stays relevant.

Despite the market’s irrationality, it’s not likely the world will fall out of love with lithium anytime soon.

Huge markets including China and India have governments who’ve committed to banning combustion engines 

The global Li-ion battery market is expected to reach $46 billion by 2022. Today, lithium’s value isn’t exclusively tied to EV sales. Expect that to change. 

Ultra Lithium Inc. A team of lithium experts with a finger on the pulse of clean energy news, Ultra Lithium is a lithium exploration company with holdings in Argentina, Canada and the US (TSX-V:ULI, OTCQB: ULTXF and Frankfurt: QFB).

Ultra Lithium Announces OTCQB Listing Under the Symbol ULTXF

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”)  common shares are listed for trading on the OTCQB under the trading symbol ULTXF commencing August 16, 2018 .

Dr. Weiguo Lang, CEO of Ultra Lithium: “We are very excited to provide this platform to our existing and prospective US shareholders. The OTCQB allows for greater exposure and accessibility to US investors.”

ULI is currently completing data interpretation of geophysical surveys for the Laguna Verde Area. It is also preparing for Geophysical Survey work on its Amelia Property.

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Laguna-Verde-Brine-Project

Ultra Lithium Starts Evaporation Testwork at Laguna Verde Brine Lithium Project in Argentina

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) has started bench scale evaporation testwork on brine samples from Laguna Verde Brine in Argentina.

A 4 cubic metre (4,000 litres) sample taken from Laguna Verde Brine was shipped to ULI’s portable lab in Salta, Argentina. The sample will be evaporation tested to evaluate how to produce various lithium salts in controlled temperature, wind, humidity and pressure conditions. ULI will also perform Lithium recovery analysis as part of this project.

Recent sampling results at Laguna Verde indicated lithium values in the range of 34.2 parts per million (ppm) to 1270 ppm. Average lithium concentration of 526 ppm was found.

Laguna-Verde-Brine

Laguna Verde Brine Project

See Company’s press release dated February 21, 2018

Dr. Weiguo Lang, CEO of UltraLithium: “Exploration work at Laguna Verde Brine is progressing well thanks to the hard work of the field crew, especially in harsh winter weather conditions. Evaporation testwork is a big milestone towards developing a scoping study for potential production of lithium salts and concentrate. We are looking forward to results in about 3 months’ time.”

The evaporation testwork is contracted to Mr. Horacio Garkus of Servicios Mineros, Salta Argentina. Mr. Garkus is a consulting geologist with expertise in brine type lithium exploration and development in Argentina

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Laguna-Verde-Brine-Geophysical-Survey

Ultra Lithium Commences Geophysical Survey at Laguna Verde Brine Lithium Property in Argentina

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce the Laguna Verde Brine Geophysical Survey has begun. The Company contracted Beijing Explo-Tech and Engineering Co., Ltd. (BETEC), a speciality geophysical survey company from China to complete Gravity and Time Domain Electromagnetic (TDEM) surveys on the three brine properties. The BETEC technical team has already completed the survey layout in the Laguna Verde discovery zone.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated, “This is the first milestone in understanding ULI’s lithium brine resource potential. Once the Laguna Verde Brine geophysical survey is finished, we will begin to prepare for the drilling program while the geophysical team gets ready to start work on the remaining survey areas at the Amelia property in Salar Antofalla and the La Borita property. We will provide survey progress updates in the coming weeks.”

laguna-verde-brine-geophysical-survey

ULI’s Laguna Verde Brine geophysical survey has started

Qualified Person
The technical information for the Laguna Verde Brine geophysical survey was reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Ultra Lithium Receives Permits and Starts Geophysical Surveys at Argentina Brine Lithium Properties

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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 received permits from the Mining Department of Catamarca Province, Argentina to carry out exploration work at its brine lithium properties. The permit is issued for ground geophysical surveys and evaporation ponds for trial lithium concentration processing at the Laguna Verde, Amelia (Antofalla Salar) and La Borita brine properties. The Company has contracted Beijing Technology and Engineering Co., Ltd. (BETEC) from China to complete approximately 82.60 line-kilometres of Gravity and Time Domain Electromagnetic (TDEM) surveys on the three brine properties. BETEC technical teams have been mobilized to the project area to start geophysical surveys.

Beijing Technology and Engineering Co., Ltd (BETEC) is a global high-tech enterprise providing geological exploration services, research, software development and technology support to the mining and energy industries. Established in 1987, BETEC now operates as a full-service provider of geological, geophysical & geochemical surveying, mapping and technology advancements in mineral exploration, oil and gas exploration, hydraulics, earth physics archaeological exploration, seismic safety evaluation, city construction inspections, remote sensing, geological disasters, land surveying, geodesy, photogrammetry, engineering surveying, geographic information systems development and many other areas.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very pleased to partner with BETEC to commence the next phase of exploration work, especially at the Laguna Verde discovery area where brine samples have indicated lithium values of up to 1270 PPM. Ground geophysical surveys will indicate the basin sizes, structural complexities and potential brine layers.”

Qualified Person
The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as Vice President Exploration of the Company.

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Wenzhou Liten Dreamwork Investment Real Estate Co., Ltd. Announces Acquisition of Shares of Ultra Lithium Inc.

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Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) and Wenzhou Liten Dreamwork Investment Real Estate Co., Ltd. (“Liten”), a private Chinese company controlled by Mr. Shaoguo Cao, announces that it has acquired an aggregate of 29,000,000 common share of Ultra Lithium Inc. (“ULI”) (TSXV:ULI) in private purchase and sale transactions from five individual shareholders of ULI, for the price of CAD$0.33 per share (aggregate CAD$9,570,000). Mr. Shaoguo Cao, the controlling shareholder of Liten and one of the five individual sellers, is a director and Chairman of the Board of ULI.

Liten has relied upon the takeover bid exemption set forth in section 4.2(1) of National Instrument 62-104 Takeover Bids and Issuer Bids.

The change of control of ULI resulting from the acquisition by Liten of an aggregate of 29,000,000 common shares was approved by a majority of the disinterested shareholders of ULI who cast votes at the annual and general meeting of shareholders of ULI held on March 2, 2018. The five individual sellers’ shares were excluded from voting on the resolution.

Immediately before completion of the private transactions, Liten held no common shares or other securities of ULI and Mr. Cao held 8,000,000 common shares of ULI. Following completion of the private transactions, Liten held 29,000,000 of the 70,548,582 issued and outstanding common shares of ULI, representing 41.1% of the issued capital of ULI on an undiluted basis, and 37.0% of the 78,430,082 issued and outstanding common shares of ULI on a fully diluted basis.

Following completion of the private transaction, Mr. Cao held no common shares of ULI directly.

Mr. Cao, one of the five individual sellers, exercises control and direction over 29,000,000 common shares, representing 41.1% of the issued capital, of ULI on an undiluted basis, and 37.0% of the issued capital of ULI on a fully diluted basis, through his control of Liten.

Liten and Mr. Cao acquired the shares for investment purposes.

Information
For further information please contact:
Ms. Shaoguo Cao
Wenzhou Liten Dreamwork Investment Real Estate Co., Ltd.
E: assistant03@liten.cn

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS

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 currently holds five brine lithium properties in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada.

On behalf of the Board of Directors
Kiki Smith, CFO

For further information, please contact:
Kiki Smith, CFO
T: +1-778-968-1176
F: +1-604-909-4682
E: kiki@ultralithium.com
W: www.ultralithium.com
Or view the Company’s filings at www.sedar.com

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.