Vancouver, BC – Ultra Lithium Inc. (TSX-V: ULI) (FSE: QFB) (“ULI” or “the Company”) is pleased to announce the appointment of Dr. David I. Groves to the Company’s Advisory Board effective immediately.
Dr. David I. Groves, BSc Honours (1st class), PhD.
Dr. Groves received a BSc Honours (1st class) and PhD from the University of Tasmania. He joined the University of Western Australia (UWA) as Professor of Economic Geology and became Founder and Director of the Key Centre for Strategic Mineral Deposits (later the Centre for Global Metallogeny). Dr. Groves has a distinguished career as a geologist and educator and has been honored as a Fellow of Australian Academy of Science. Throughout his career, he has supervised over 250 graduates for BSc Honours, MSc or PhD degrees and authored or co-authored around 500 publications in economic geology.
He was President of the Geological Society of Australia, the Society of Economic Geologists (SEG) and the European Society of Economic Geologists (SGA) and has been awarded 11 medals for his research, including the SEG Penrose Gold Medal, the SGA-Newmont Gold Medal and the Geological Association of Canada Medal. Before retirement from UWA as Emeritus Professor, he organized the foundation of the now successful Centre for Exploration Targeting at UWA. Since retirement, he has been awarded an honorary DSc from UWA and consulted to the exploration industry and investment groups on all continents, mainly for Canadian companies in Africa and Brazil.
Marc Morin, Ultra Lithium’s President & Chief Executive Officer said:
“We are extremely pleased to have someone of Dr. Groves’ caliber joining our advisory board. He will be an invaluable resource as we move forward in developing our highly prospective Serbian assets.”
About Ultra Lithium Inc.
Ultra Lithium Inc. is a junior explorer listed on the TSX Venture Exchange under the symbol ULI. The Company is committed to the aggressive pursuit of properties with high returns-on-investment and maximizing the value of assets through a disciplined process of assessment and responsible acquisitions. Currently, the Company holds exploration licenses in Ontario, Canada, Nevada, USA and Serbia. The Company is focused in Serbia where, along with its partner Beijing Explo-Tech Engineering Co. (BETEC), an exploration program is now underway. This program includes field reconnaissance, mapping, geochemical sampling and geophysical surveys (gravity and audio magneto-tellurics.), for the purpose of determining drill targets.
- 643 km² of lithium/boron mineral exploration licenses in the Republic of Serbia
- All seven exploration concessions are within well-defined sedimentary basins
- Proximity to Rio Tinto’s Jadar deposit with an inferred resource of 125.3Mt grading 1.8% Li2O and 13% B2O3 (1)
- Proximity to infrastructure (rail/road/sea), (electricity), and (labour force)
- Ultra has 100% ownership of its exploration licenses
- Rio Tinto is completing a $27 million pre-feasibility study & projecting production for 2016(1)
- Rio Tinto’s Jadar deposit could produce up to 20% of the current worldwide annual lithium demand(1)
- Off the shelf technology can process Jadarite ore(2)
About Beijing Explo-Tech Engineering Co. Ltd.
BETEC is a high-tech geological exploration enterprise which provides geological exploration services, research, software development and technology support for the mining industry. Areas of expertise include geological, geophysical, geochemical and remote sensing. BETEC has 110 official employees.
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.
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.