Ultra Lithium Sampling Results Confirm Historical Lithium Values and Identify New Brine Targets In Catamarca, Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has received assay results from the September 2017 exploration work completed on two of the four brine lithium properties recently acquired by the Company in the Province of Catamarca, Argentina. The exploration work was completed on La Borita and Antefalla properties, and was comprised of drilling short holes in ground down to a depth of up to one meter below surface to take shallow brine samples, and to resample existing deep historical drill holes on La Borita. Highlights of the assay results are presented below and a table showing location and results of each sample is attached with this press release.

La Borita Brine Lithium Property

• Brine sample from Hole LB002 was 220 milligrams per liter (mg/L) lithium, 1140 mg/L magnesium, 423 mg/L boron and 1790 mg/L potassium.
• Brine sample from Hole LB004 returned 176 mg/L lithium, 4690 mg/L magnesium, 336 mg/L boron, and 579 mg/L potassium.
• Brine sample from Hole LBDDH005, a 650-meter-deep well, which was repeatedly sampled in the past returned lithium values 215 mg/L, magnesium 983 mg/L, boron 425 mg/L and potassium 1990 mg/L. These results are in line with the historical assay results reported in the Company’s press release dated June 27, 2017
• Shallow subsurface brine samples indicate anomalous lithium values in the range of 3.1 mg/L to 45.8 mg/L, magnesium 379 mg/L to 4690 mg/L, boron less than 14 mg/L to 210 mg/L.
• The results indicate a deeper source of lithium concentration as samples from all deeper holes return significantly higher (3 to 4 times) values than the shallow subsurface samples.
• The Company is planning to carry out pump tests on deeper holes to determine the brine production capacity of each aquifer intercepted in drill holes. Historical core and drill logs are available for planning pump tests.

Antafalla Brine Lithium Property

• 12 shallow subsurface brine samples indicate anomalous values of lithium, in the range of 2.55 mg/L to 75.5 mg/L with an average of 31.8 mg/L.
• Magnesium values are in the range of 36.3 mg/L to 1100 mg/L with average 528.8 mg/L, boron less than 14 mg/L to 27.5 mg/L, potassium less than 15 mg/L to 1,390 mg/L.
• ULI’s Antafalla property is located adjacent to the north of Albemarle’s Antafalla property which was acquired by Albemarle from Bolland Minera in 2016.
• According to Roskill’s report of September 16, 2016, Bolland Minera, has to-date drilled 56 boreholes over 265 square km and defined a resource of 83Mt of potash (KCl) grading 6,400mg/l and 2.22Mt of lithium (11.8Mt LCE) grading 350mg/l.
• A review of historical drill logs of Bolland indicate that lithium grades tend to increase with depth. Ultra Lithium will plan to drill deeper holes after finishing the current exploration work program.

Table 1: September 2017 Sampling at Antafalla and La Borita Projects
View table with results here.

• Cautionary Note: The above information is taken from the publicly available source: https://roskill.com/news/lithium-albemarle-expands-argentina/ , and the Company has not independently verified the information referenced and should not be relied upon. The information is not necessarily indicative of the mineralization on the ULI’s Antafalla Property, and is provide as background and context material for the reader. This information will be beneficial for the Company for developing next phase of exploration work on the Property.

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, 23^rd Edition. Field parameters of each sample were recorded which include: depth of water table from surface, total dissolved solids, temperature, conductivity, salinity, pH, and density.

The Company is also pleased to announce that the field exploration team has mobilized to continue shallow subsurface brine sampling on the remaining two properties in Catamarca Province, Argentina (Laguna del Salitre / Laguna de Aparoma Property and Archibara / Laguna Verde Property).

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very satisfied with the exploration work so far and its results which helped not only to confirm the historical data but also provide promising exploration targets for further work. The Company will develop an exploration program after completion of the current phase of shallow brine sampling on all the properties in Catamarca. The next phase of exploration will include pump tests at deeper holes on the La Borita Property and drilling deeper drill holes at few new targets identified on the Antafalla 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 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.

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.