The Company intends to drill a minimum of 6,000 meters on its Kragujevic, Tnarva, Koceljeva, Preljina and Ladveci prospecting licenses. In conjunction with the drilling, further geophysics will be performed. Follow up exploration of the Blace concession is also planned. Ultra currently holds a total of 7 prospecting licenses covering an area of approximately 643 square km.
Beijing Explo-Tech Engineering Co. has been engaged to conduct geophysical surveys over the concessions.
The Ultra Balkans Project is a joint venture between Ultra Lithium Inc. and Beijing Zairun Mining Investment Co., Ltd. (“BZMI”). BZMI has the right to earn up to a 35% interest in Ultra Balkans by funding up to $3,500,000 of exploration expenditures on the Ultra Balkans Project.
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 and approved on behalf of the Company by Mr. Shahab Tavakoli, P.Geo, Geophysicist, M.Sc., a Qualified Person under NI 43-101.
For more technical information on the Balkans Project, please refer to: http://ultraresourcesinc.com/properties-balkans/
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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