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Ultra Resources Provides Update on Lithium Projects

Vancouver, BC – Ultra Lithium Inc. (TSX-V:ULT, OTCQB: ULTXF and Frankfurt: QFB) is pleased to provide an update on its lithium projects and plans moving forward. The Companyhas a diversified portfolio of lithium properties which include two hard rock lithium projects in Northwestern Ontario, Canada and a brine lithium project in Catamarca Province, Argentina, as summarized below:

Georgia Lake / Forgan Lake Pegmatites

The Georgia Lake / Forgan Lake project is a spodumene type hard rock lithium deposit in Northwestern Ontario, Canada, and is supported by excellent infrastructure. The following lithium pegmatites are located on these properties.

  1. Forgan Lake Pegmatites – Six spodumene-bearing pegmatites (Number 1 to 6) which are mostly parallel to the metasediments and are considered as sills. Historical exploration work included 39 drill holes, aggregating 10,561 feet (3,218.8m) drilling. Surface samples and drilling results shown values in the range of 1.98% to 6.93% lithium oxide (Li2O).
  2. Jean Lake Pegmatites– Three known pegmatite deposits, each 200 to 500 m long and 2-15 m wide with 1-2% Li2
  3. Vegan Pegmatite– has been traced for 2,000 feet (609 m) through diamond drilling, it is average 16 feet thick (5 m), strikes N75°W and dips 35°- 45° NE.
  4. Lucky Lake Pegmatites– A series of pegmatites which are in extension of the Forgan Lake pegmatites optioned from International Lithium Inc.
  5. Swanson Beryl Pegmatites– Multiple pegmatites with beryl mineralization.

In 2019, the Company successfully collected high grade lithium samples from Forgan Lake Number 1 pegmatite to evaluate the possibility of producing small scale lithium oxide concentrate for further metallurgical testing to produce lithium carbonate. The results of three samples show lithium values of 6.93% Li2O (sample 152951), 6.90% Li2O (sample 152952), and 4.88% Li2O (sample 152953).

Laguna Verde Brine Lithium Project, Catamarca Province Argentina

  • Laguna Verde is a new brine lithium discovery where exploratory sampling conducted by Ultra Resources indicate lithium values in the range of 34.2 to 1,270 milligrams per liter (mg/L) or parts per million (ppm), magnesium values less than 1 to 7,920 ppm, potassium 804 to 15,800 ppm, and boron 65 to 2,190 ppm. The Laguna Verde area is marked by low magnesium to lithium ratios, in the range of zero to 10.2.
  • In 2018, the Company also completed a 39.2-line- kilometers of ground geophysical survey along eight exploration lines on the property, 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.
  • The survey results indicate 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 and a thickness of 100 to 150 meters. Main points of the geophysical survey interpretation are provided below:
    • The core area of 3.4 square kilometres (km2) is with resistivity below 3 ohm and can be used for brine extraction on 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.
    • 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 a 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.
  • In 2018, a bench scale evaporation test of approximately 4,000 litres of brine sample from Laguna Verde was carried out in Ultra Argentina laboratories located in Salta. The density of the original brine sample was 1156 and its lithium concentration was 391 ppm.
  • Two types of evaporation tests were conducted. The first test included evaporating 179 litres of brine sample in an external pool located outside to match the natural evaporation conditions. The results indicate that in a period of five months, the brine volume was reduced from 16 cubic metres (m3) to 3 m3and lithium concentration increased from 391 to 6,760 ppm. Major salts produced during this process were Halite, Felsobanyaite, Silvite, Lithium Sulfate and Potassium, Carnalite, Kainite and Gypsum.
  • The second test was conducted inside in controlled conditions. The results indicated that the original brine volume of 2,326 m3was reduced to 85.06 m3and the lithium concentration went up from 391 to 7370 ppm.

Plans Moving Forward

Due to soft lithium market and COVID 19 pandemic situation, the Company was not able to do any work on its lithium assets in 2020 but will start working as soon as the situation improves, and travel is permitted. The Company’s focus and accomplishment for 2020 was completion of metallurgical test work for its gold projects in Argentina, and detailed studies and information compiling on lithium and gold projects in Argentina and Canada.

The Company plans to continue exploration work on its lithium projects from where they were left in 2019 beginning with advanced exploration work on the geophysical survey targets identified at the Laguna Verde brine project.

The Company will also be applying for permits to take bulk samples for further test work from various pegmatites on the Georgia Lake and Forgan Lake properties in northwestern Ontario, Canada.

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 Resources Inc.

Ultra Resources is an exploration and development company with a focus on the acquisition and development of gold, copper and lithium assets. The Company holds a brine lithium property in Argentina, and hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada. The Company also holds other gold and base metals properties in Argentina.

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@ultraresourcesinc.com
W: www.ultraresourcesinc.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 Resources Metallurgical Testwork Shows 94.34% Gold Recovery for La Rioja Gold Project in Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V:ULT, OTCQB: ULTXF and Frankfurt: QFB) is pleased to announce that it has received final results of metallurgical testwork for the bulk sample from its 100% owned Chepes Gold Project in La Rioja Province, Argentina. The testwork was contracted to Yantai Xinhai Mining Research & Design Co., Ltd., Shandong, China (“Xinhai”) and the results show an overall recovery of 94.34% gold using a combination of gravity separation, copper masking and leaching using CNLITE reagent. The bulk sample was comprised of two samples with a total weight of 849 kilogram collected from the Callanas and Al Espinillo mining licenses (See Company’s news release dated July 9, 2020).

Metallurgical Testwork Highlights

  • The goal of testwork was to focus on gold recovery from the mineralized rock which is in an oxidized state. Initial head sample assay indicates average 13.41 grams per ton (g/t) gold (Au), 32.15 g/t silver (Ag), 0.47 percent (%) copper (Cu), 2.78% lead (Pb), and 0.96% Zinc (Zn).
  • The test results indicate that when the mineralized rock is ground to -200 mesh, gravity concentrates can be obtained, with a yield of 33%, with gold grade of 1,530 g/t. Overall gold recovery is 38.19% using gravity. The gravity tailings have a gold grade of 8.20 g/t and were taken as feeding material in the following tests.
  • When gravity tailings are treated through pre-leaching by adding a masking agent, then enter into the leaching process with lime as a protective alkali and CNLITE as the leaching agent, the gold leaching rate reaches 90.85% under leaching time of 24 hours, and 91.95% under leaching time of 48 hours. Gravity concentration combined with leaching can realize an overall recovery rate of 94.34% (38.19%+61.81%*90.85%) and 94.41% (38.19%+61.81%*91.95%) under a leaching time of 24 and 48 hours, respectively.
  • According to Xinhai, CNLITE is a new environmentally friendly gold leaching reagent produced by the Xinhai Group.  CNLITE is being used in some countries as an alternative to traditional cyanide as gold extraction agent. Cyanide is a highly toxic reagent. CNLITE has the benefits of environmental protection, high leaching rate, fast recycling and high cost effectiveness. In addition, the use of CNLITE does not change the existing cyanidation process and gold extraction equipment.

Dr. Weiguo Lang, CEO of Ultra Resources, stated, “We are very pleased with the outcome of metallurgical testwork which is an efficient and cost-effective process due to the use of CNLITE instead of traditional cyanidation. Its nontoxic and environmentally friendly features will be helpful in permitting and community approval. The Company’s goal is to continue exploration on its projects to create new jobs for the community and install a gold extraction plant as soon as possible to start processing mine dump material available at the Callanas and Al Espinillo mines”.

Fig 1. Leaching Process Flow Diagram

About Yantai Xinhai Mining Research & Design Co

Shandong Xinhai Mining Technology & Inc. is a stockholding high and new technology enterprise to provide “Turnkey Solution for Mineral Processing Plant” including design and research, machine manufacturing, equipment procurement, management service, mine operation, mine materials procurement & management as well as industry resources integration. Up to now, with 500 mine EPC projects, mining technologies and experience of 70 kinds of ores and 112 patents, Xinhai has established overseas offices with products exported to more than 90 countries. For further information, please visit the Xinhai’s website at: http://www.xinhaimineral.com/en/about_4.html.

About La Rioja Gold Project

The gold project in the south of the province of La Rioja Argentina, consists of three prospecting and exploration areas and 13 manifestations of discoveries (mining licenses). Also, in the area there are several historical gold mines and quartz veins in granodiorite rocks hosted by early Paleozoic shearing. Gold mineralization is typically associated with epithermal style shear hosted quartz veins. Initial evaluation of dump material available for historical mines on the Property indicates approximately 25,000-30,000 tons of dump material is available for gold and other metals processing.

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 Resources Inc.

Ultra Resources is an exploration and development company with a focus on the acquisition and development of gold, copper, and lithium assets. The Company currently holds a brine lithium property in Argentina, and one hard rock spodumene type lithium property at the Georgia Lake area in northwestern Ontario, Canada. The Company also holds several gold and base metals properties in Argentina.

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@ultraresourcesinc.com
W: www.ultraresourcesinc.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 Resources Assays 13.41 Grams per Ton Gold and 32.15 Grams per Ton Silver on Head Samples for Metallurgical Testwork from La Rioja Project, Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V:ULT, OTCQB: ULTXF and Frankfurt: QFB) is pleased to announce that it has commenced metallurgical testwork on bulk samples from its Gold Project in La Rioja Province, Argentina. Initial head sample assay work indicates average 13.41 grams per ton (g/t) gold (Au), 32.15 g/t silver (Ag), 0.47 percent (%) copper (Cu), 2.78% lead (Pb), and 0.96% Zinc (Zn).

Highlights – See Table 1 and Table 2 Below for Details

  • Sample # 101 from Callanas Mines shows 11.43 g/t gold, 25.10 g/t silver.
  • Sample # 102 from El Espinillo Mines shows 15.38 g/t gold, 39.20 g/t silver.
  • Deleterious elements such as arsenic (As) and stibium (Sb) are below the laboratory’s detection limits of 0.01%.
  • Based on multi elemental and copper phase analysis, Au, Ag, Cu, Pb and Zn in bulk samples are recoverable elements although final product range will be determined based on further tests.

As announced in the Company’s July 9, 2020 news release, two bulk samples with a total weight of 849 kilograms were collected from Ultra Resources’ Gold Projects in La Rioja Province, Argentina. These samples were shipped to Yantai Xinhai Mining Research & Design Co., Ltd., Shandong, China (“Xinhai”) to carry out metallurgical testwork. The bulk sample # 101 is from Callanas mining licenses and #102 is from El Espinillo mining licenses. To make it a representative sample of mineralization style on the Property, the samples were collected from multiple quartz veins (464 kg) and the historical dump material (385 kg) from each mine.

The samples were analysed for multi elements as shown in Table 1 by method DZ/T 0130.2-2006for sample preparation, and by Atomic Absorption Spectroscopy (AAS) using activated carbon (Method GB/T 20899.13-2017). Xinhai’s laboratories are accredited under “China National Accreditation Service” in accordance with ISO/IES 17025:2017 – General Requirements for the Competence of Testing and Calibration Laboratories (CNAS-CL01 Registration No. L9977). The results presented in the laboratory report are based on three parallel analyses and the weighted average value of the results of gravity concentration tests.

Dr. Weiguo Lang, CEO of Ultra Resources, stated that, “The results of head sample show  the merits of the La Rioja gold project as a good exploration target with over approximately 63,000 hectares of licensed areas including 13 mining licenses and 3 exploration licenses. We are looking forward to the detailed metallurgical testwork report which will not only include the process flowsheet but also plant design options for various levels of production of already-on-the ground high gold grade dump materials and potential underground mineralization reported in historical exploration information. The shareholders of Ultra Resources will benefit from near-term gold production by leveraging Xinhai’s rich experience in gold processing design and research.”

About Yantai Xinhai Mining Group
Shandong Xinhai Mining Technology & Equipment Inc. a member of the Yantai Xinhai Mining Group is a stockholding high and new technology enterprise to provide “Turnkey Solution for Mineral Processing Plant” including design and research, machine manufacturing, equipment procurement, management service, mine operation, mine materials procurement & management as well as industry resources integration. Up to now, with 500 mine EPC projects, mining technologies and experience of 70 kinds of ores and 112 patents, Xinhai has established overseas offices with products exported to more than 90 countries. For further information, please visit the Xinhai’s website at: http://www.xinhaimineral.com/en/about_4.html.

About La Rioja Gold Project
The gold project in the south of the province of La Rioja Argentina, consists of three prospecting and exploration areas and 13 manifestations of discoveries. Also, in the area there are several historical gold mines and quartz veins in granodiorite rocks hosted by early Paleozoic shearing. Gold mineralization is typically associated with epithermal style shear hosted quartz veins. Initial evaluation of dump material available for historical mines on the Property indicates approximately 25,000-30,000 tons of dump material is available for gold and other metals processing.

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

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@ultraresourcesinc.com
W: www.ultraresourcesinc.com
Or view the Company’s filings at www.sedar.com

Table 1: Results of Multi Element Analysis

Analyte

UnitSample # 101Sample # 102Average

Weight

KG464.00385.00

424.50

Au

g/t11.4315.38

13.41

Ag

g/t25.1039.20

32.15

Cu

%0.510.42

0.47

Pb

%2.253.30

2.78

Zn

%0.561.36

0.96

TFe

%7.097.80

7.45

S

%0.210.29

0.25

C (Total)

%0.33

0.45

0.39

C (Solid)

%0.120.16

0.14

PbO/Pb

%1.602.53

2.07

As

%<0.01<0.01

<0.01

Sb

%<0.01<0.01

<0.01

SiO2

%76.9174.60

75.76

Al2O3

%3.383.03

3.21

CaO

%0.680.86

0.77

MgO

%0.780.39

0.59

TiO2%0.120.13

0.13

K2O

%0.890.78

0.84

Na2O

%0.0880.085

0.09

ZnO/Zn%0.511.30

0.91

 

Table 2: Results of Copper Phase Analysis

Sample No.

Copper Phase AnalysisCopper Content (%)

Ratio (%)

101

Copper in free copper oxide

0.26

50.98

Copper in bonded copper oxide

0.035

6.86

Copper in secondary copper sulfide

0.15

29.41

Copper in primary copper sulfide

0.065

12.76

Total

0.51

100.00

102

Copper in free copper oxide

0.17

40.48

Copper in bonded copper oxide

0.046

10.95

Copper in secondary copper sulfide

0.13

30.95

Copper in primary copper sulfide

0.074

17.62

Total

0.42

100.00

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 Resources Begins Metallurgical Testwork for La Rioja Gold Project in Argentina

Vancouver, BC – Ultra Lithium Inc. (TSX-V:ULT, OTCQB: ULTXF and Frankfurt: QFB) is pleased to announce that it has shipped two bulk samples with a total weight of 849 kilograms from its Gold Project in La Rioja Province, Argentina to China for metallurgical testing. Bulk sample # 101 is from Callanas mining license and #102 is from Al Espinillo mining license. To make it a representative sample of mineralization style on the property, the sample was collected from multiple quartz veins (464 kilograms) and the historical dump material (385 kilograms) from each mine as summarized below:

Callanas Mine (Sample 101)
The sample was taken from two locations at the Callanas VI quartz vein area. The first location is an old exploration camp site where a 3.5-metre-thick quartz vein is exposed within a 40 metre deep historical workings. The vein has a strike of 130° dipping vertically. Mineralization is in the form of malachite, limonite, and other sulfides with silicification / sericite alteration. The dump material is located40 metres to the north of the pit around the old camp site. The second location is from and old incline where 1.5-metre-thick quartz vein is exposed, shows massive hematite alteration, high density, with a strike of 110° and vertical dip. The Dump sample was taken from the material piled at the edges of the incline.

Al Espinillo Mine (Sample 102)
The sample was taken from the edge of a 40 metre deep historical mine workings where an approximately four-metre-wide fractured quartz vein having a strike of 110° dipping vertically is exposed. Mineralization is in the form of malachite, chalcopyrite, and other sulfides. Sericite and copper oxide alteration is common. The dump material is located around the old mine workings.

About the Metallurgical Testwork
The Company has contracted Yantai Xinhai Mining Research & Design Co., Ltd., Shandong, China (“Xinhai”) to carry out the following metallurgical testwork.

  1. Head grade sample analysis for gold, silver, and other elements.
  2. Particle size analysis: The sample will be screened into several fractions to measure the contents of each fraction and distribution rate of various metals.
  3. Determination of true density and bulk density of the mineralized rock.
  4. Determination of mineral processing technical parameters and process flows of gold recovery from the samples.
  5. As the sample represents a polymetallic mineralized material, containing gold, silver, copper, lead, zinc, etc. The test will focus mainly on gold recovery.
  6. The preliminary test scheme for mineral processing of the bulk sample is the gravity concentration plus nonconventional environmentally friendly gravity tailings leaching tests.
  7. If other valuable elements such as copper have influence on gold recovery, the corresponding recovery process will be carried out to improve the recovery rate of gold.
  8. Conduct dehydration test on mineral processing products.
  9. Based on the test results and considering the requirements of capacity and other conditions of mineral processing designs, Xinhai will provide recommendations for equipment selection, water and electricity requirements and other economic parameters.

Dr. Weiguo Lang, CEO of Ultra Resources, stated that, “Although we are facing tough challenges due to the Global Pandemic effects of COVID-19, the Company has been very successful in keep things going on the projects side. The metallurgical testwork will be a leap forward in developing small scale production plans to process available historical dump material at our La Rioja Gold mines while exploring the underground gold resources based on the historical exploration work by JICA and ASGO.”

Shandong Xinhai Mining Technology &amp; Equipment Inc. | LinkedIn

About Yantai Xinhai Mining Research & Design Co
Shandong Xinhai Mining Technology & Inc. is a stockholding high and new technology enterprise to provide “Turnkey Solution for Mineral Processing Plant” including design and research, machine manufacturing, equipment procurement, management service, mine operation, mine materials procurement & management as well as industry resources integration. Up to now, with 500 mine EPC projects, mining technologies and experience of 70 kinds of ores and 112 patents, Xinhai has established overseas offices with products exported to more than 90 countries. For further information, please visit the Xinhai’s website at: http://www.xinhaimineral.com/en/about_4.html.

About La Rioja Gold Project
The gold project in the south of the province of La Rioja Argentina, consists of three prospecting and exploration areas and 13 manifestations of discoveries. Also, in the area there are several historical gold mines and quartz veins in granodiorite rocks hosted by early Paleozoic shearing. Gold mineralization is typically associated with epithermal style shear hosted quartz veins. Initial evaluation of dump material available for historical mines on the Property indicates approximately 25,000-30,000 tons of dump material is available for gold and other metals processing.

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

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@ultraresourcesinc.com
W: www.ultraresourcesinc.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 Name Change to Ultra Resources

Vancouver, BC – Ultra Lithium Inc. (TSX-V:ULI, OTCQB: ULTXF and Frankfurt: QFB) announces that the Company will change its name to “Ultra Resources Inc.” The Company, pursuant to the Board Resolution, has filed the Articles of Amendment for the name change effective December 2, 2019. Concurrent with the proposed name change, the Company will adopt “ULT” as the new trading symbol for its common shares. The proposed name change is subject to the approval of the TSX Venture Exchange.

No action will be required by existing shareholders with respect to the name change. Issued share certificates representing common shares of the Company will not be affected by the change of name and will not need to be exchanged. The Company encourages any shareholder concerns in this regard to be directed to such person’s broker or agent.

The Company’s new website will be www.ultraresourcesinc.com

About Ultra Lithium Inc.
Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium and gold 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. Ultra Lithium recently diversified its portfolio by adding a total of 3 gold exploration and 13 gold mining licenses in Argentina, which it has commenced developing.

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@ultraresourcesinc.com
W: www.ultraresourcesinc.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.

eu ev sales

EU EV Sales to Pass 1M in 2020

Clean energy more than a fad; EU EV sales to skyrocket in 2020

From January to December 2020, EU EV sales will breach 1 million. Granted, this includes both hybrid and electric models. Nevertheless, the milestone is significant. After all, this projection anticipates sales to grow by more than four times in one year.

READ: German Power Grid Up for EV Challenge

Evidently, the continent’s governments have done a great job incentivizing clean transportation. If they wish to do business in Europe, automakers must quickly rollout EV fleets.

Ultimately, automakers musn’t surpass 95g of CO2 per km in any new vehicle.

Fine-ding sustainable solutions

eu ev salesThe fines imposed by the EU on carmakers who don’t satisfy these requirements are significant.

After all, €95 per gram – times the total number of cars sold in the EU – can’t be ignored. It seems there is no greater incentive than a monetary one.

For now, VW and Honda are expected to lead the European charge to market among electric automakers.

Competition in Europe

eu ev salesHowever, Tesla isn’t going away anytime soon. Moreover, brands like Dyson have also decided to enter the market.

Nevertheless, the increase among European EV manufacturers pales in comparison to China. Indeed, a bubble plagues the over 500 Chinese electric vehicle startups.

Regardless, it’s encouraging to see China and Europe take major steps toward phasing out combustible engines.

Their secret: progressive policy. American voters should take notice ahead of the 2020 election.

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

central banks

Central Banks Help Determine Gold’s Value

Value of commodities – including gold – largely determined by central banks

Recently, the value of gold hit a 6-year high. Evidently, 2 major factories made this a reality. Firstly, the China-US trade war. Secondly, the impending recession. However, few investors factor in the effect central banks have on the commodity’s continued surge.

READ: Gold Considered Haven Asset by Investors

Indeed, the world’s central banks shape global economic policy. Their actions have monumental importance and have far-reaching implications.

Their ability to navigate the next recession will determine their respective country’s financial well-being once the bears finish feeding.

Future moves determine today’s prices

central banksConsequently, the moves made by central banks greatly affect the value of precious metals, including gold.

The future moves made by these institutions dictate the current value of all assets and commodities.

As a result, the policies they implement to combat the global recession greatly affect day traders.

Boom or bust

central banksWhile gold currently sits near $1500 per ounce, monetary restructuring to cushion economies from the coming downturn could change that. Additionally, the policies they implement will either discourage or encourage investments in areas like talent and innovation. Indeed, the former is infinitely more likely.

After all, the threat of a recession often encourages governments and companies to make decisions that accelerate the path to recession.

Meanwhile, gold’s value often runs against economic growth in times of uncertainty. The safe-haven asset is likely to attract more investor attention as the market dips.

Consequently, the moves made by central banks could favour gold – and those who hold it.

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

household battery market

Household Battery Market Hurt by EV Adoption

High electric vehicle sales cause household battery market to suffer

Electric cars rely on lithium-ion batteries to power their zero-emission engines. Consequently, these batteries charge at increasingly impressive rates. Otherwise, the electric revolution would be a losing battle. As a result, the competing household battery market slowly declines.

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Moreover, high-ranking officials in the EV charging industry predict the market won’t exist in the near future.

household battery market

This has already started to happen in the home electronics market. Non-rechargeable batteries have less than a 3% market share. Consider that all electronics in your home are powered by rechargeable batteries – most of them lithium-ion.

End of residential storage

Meanwhile, cars aren’t driven 95% of the time. As a result, they have the potential to contribute to large grid storage projects.

Evidently, your EV’s battery could help power your community. Through bi-directional charging, residential stationary energy storage will soon be phased out.

Consequently, an infinitely more sustainable energy source will soon power your home – your eco-friendly car.

EVs an energy asset

household battery marketUltimately, lead-acid and other non-rechargeable batteries will soon become extinct. Moreover, bi-directional charging will soon replace the often wasteful ways in which we power our communities.

Lithium-ion batteries are an essential weapon in the battle against climate change.

Additionally, both automakers and governments now have several financial incentives to abandon combustible engines in favour of those powered by Li-Ion batteries.

Soon, your ride to work will power your home.

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

 

rising recession possibility

Rising Recession Possibility could Favour Gold

Investors turn to gold amidst rising recession possibility

The global economy braces for a downturn. Indeed, only a fool would claim to know how steep the fall will be. Nevertheless, the price of gold hit a 6-year high amidst a rising recession possibility.

READ: Gold Price Hits 6-Year High

Evidently, investors are scrambling to cushion their portfolios from the impending blow.

Most investments in virtually all economic sectors and industries are now considered risky by analysts. As a result, gold’s status as a haven-asset is that much more significant.

Bracing for the fall

rising recession possibilitySigns of an impending recession continue to emerge. Firstly, the bond market continues to weaken. With an inverted yield curve, the historical precedent for a downturn is set,

Over the past half-century, the yield curve has inverted prior to a recession every time.

Secondly, employment growth is also starting to slow. Monthly growth over the past year is the lowest since 2012.

Recession-proof actions ensure recession

Additionally, real GDP growth has begun to slow down. As a result, a fall in total income raises a red flag.

rising recession possibilityHowever, individual government and corporate behaviour present the most surefire sign of recession.

Once investments in talent and innovation begin to decrease, the path to recession becomes a fast-track.

While this hasn’t manifested, it’s only a matter of time for pre-emptive austerity measures to kick in. Once they do, expect to see a lot of downward sloping charts – with a probability of gold heading in the opposite direction.

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

used electric cars

Used Electric Cars Becoming Popular

Out with the old, in the with the new as auto buyers turn to used electric cars

More than anything, clean transportation is about reducing waste. Indeed, recycling and sustainability are like two peas in a pod. Evidently, the message is slowly hitting the public, as sales of used electric cars steadily increase.

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Specifically, sales in Australia have begun to skyrocket. Since September 2018, demand for hybrid and electric cars has jumped significantly.

As a result, demand among EV owners looking to sell used models has also jumped.

used electric cars

Secondhand sustainability

According to a poll of over 50,000 Australians, year-over-year interest in purchasing used electric cars has risen from 53k to 92k.

Meanwhile, interest in buying a new EV has slightly dropped.

Consequently, the substantial cost of driving a new plug-in vehicle off the lot influences these findings.

Long way to go in ‘land down under’

used electric carsMoreover, there are many inconveniences associated with driving electric.

For starters, charging station access and battery range issues must be solved. Granted, automakers and governments are spending billions to improve the technology underlying sustainable driving.

Nevertheless, less than 200 electric models are available for purchase in Australia. The country lags behind Europe, China, and the US in adoption metrics.

However, these findings prove the winds of change could be hitting Aussie drivers. While electric car penetration in rural areas has been historically poor, efforts made by both automakers and governments to make them more practical could soon push public sentiment in a more sustainable direction.

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