Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce that it has been granted one (1) additional lithium/boron exploration license (prospects) in the Republic of Serbia, through its wholly-owned subsidiary, Ultra Balkans doo, for the Blace mineral prospect, by the Ministry of Environment, Mining and Spatial Planning. The successful exploration license application covers an area of approximately 99 square km.
With the grant of this additional exploration license, Ultra currently holds a total of seven (7) exploration licenses that cover approximately 643 square km of prospective stratigraphy. All prospects have the potential to host significant lithium and boron bearing Jaderite mineralization that forms within fine- grained, well-layered lacustrine sediments of Tertiary age.
In terms of progress, we would like to inform our shareholders of the following developments:
We have opened our office in Belgrade and have hired local geological staff. We have also begun compiling government regional geophysical data and completed field reconnaissance.
Our next step will be to assess and review data as well as initiate magnetotelluric surveys on our concessions. Further updates will follow.
Please visit the Company’s website (www.ultraresourcesinc.com) to view the location maps of our mineral prospects.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed on behalf of the Company by Mr. Phu Van Bui, P.Geo, an Independent Director and Qualified Person under NI 43-101.
Ultra Lithium Inc. is a Canadian junior mining & exploration company with focus in lithium and rare earth metals.
On behalf of the Board of Directors
Marc Morin, President & CEO
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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