Ultra Lithium Receives Assay Results for Second Round of Surface Sampling in Catamarca, Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) has received preliminary assay results from the October 2017 exploration work completed on the Laguna Verde, Archibara and Galan properties in the Province of Catamarca, Argentina.

Assay results indicate lithium values in the range of less than 1ppm to 1,100ppm, magnesium values 9.45ppm to 1,900ppm and potassium values are 20.5ppm to 14,100ppm. The Laguna Verde area is marked by low magnesium to lithium ratios, in the range of 0.9 to 9.8. The Company is currently in the process of verifying the field and lab data, and interpreting the significance of these results in the context of the Company’s exploration program. The assay results are presented in the table below.

Exploratory sampling was carried out by collecting surface brines and shallow sub-surface brines down to a depth of one meter. Hand tools, such as hammers, and shovels were used to break the surface salt / sediment layers to access the brines.

The samples were assayed at SGS Laboratories in Buenos Aires, Argentina. SGS is a global chain of independent certified laboratories. The samples were assayed by SGS method ME. 113 based on SM 3120, 23rd Edition. Brine samples were collected in clean plastic bottles which were rinsed with brine before sampling. Field parameters of each sample were recorded which include: depth of water table from surface, total dissolved solids, temperature, conductivity, salinity, pH, and density.

Table 1: October 2017 Sampling Data from Laguna Verde, Archibara and Galan

Project Area Sample ID Location (WGS84) Water Depth (cm) Li  mg/l Mg  mg/l Mg/Li Ratio K mg/l Na mg/l
Galan 5 de Mayo 17CA026 19 J 718770 7095144 130 <1 54 NA 145 648
Galan Laguna del Salitre 17CA027 19 J 709194 7093167 0 <1 47.9 NA 316 1440
Galan Laguna del Salitre 17CA028 19 J 709716 7093263 0 <1 50.8 NA 332 1510
Laguna Verde Laguna Verde II 17CA029 19 J 607380 7198451 0 14.0 87.9 6.28 262 2650
Laguna Verde Laguna Verde II 17CA030 19 J 606573 7198467 120 1100.0 1900 1.73 14100 127000
Laguna Verde Laguna Verde II 17CA031 19 J 606275 7198901 0 514.0 490 0.95 8870 97400
Laguna Verde Laguna Verde II 17CA032 19 J 606202 7199362 0 92.5 542 5.86 1340 23800
Laguna Verde Laguna Verde I 17CA033 19 J 603634 7200748 0 24.8 323 13.02 351 4980
Laguna Verde Laguna Verde I 17CA034 19 J 602873 7197649 0 199.0 234 1.18 2620 44400
Laguna Verde Laguna Verde I 17CA035 19 J 602859 7198645 0 39.4 154 3.91 522 8780
Laguna Verde La Maru 17CA036 19 J 606062 7200840 0 48.9 355 7.26 723 13000
Laguna Verde La Maru 17CA037 19 J 606070 7201410 0 147.0 1180 8.03 2240 34900
Laguna Verde La Maru 17CA038 19 J 604608 7201220 0 57.5 565 9.83 1020 12300
Laguna Verde Griselda 17CA039 19 J 603012 7197999 0 202.0 240 1.19 2680 45600
Archibarca Archibarca I 17CA040 19 J 590376 7209734 145 46.7 1010 21.63 430 19400
Archibarca Archibarca I 17CA041 19 J 590405 7210038 135 44.2 770 17.42 361 16200
Archibarca Archibarca I 17CA042 19 J 590133 7209750 130 72.8 1060 14.56 2090 32100
Archibarca Archibarca II 17CA043 19 J 590068 7205958 0 <1 9.45 NA 20.5 260

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 is currently holds two exploration properties at the South Big Smoky Valley brine lithium and the Georgia Lake hard rock spodumene type lithium project.

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.

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