Ultra Lithium’s Second Round of Sampliing Further Confirms High Grade Lithium Brines at Salar Laguna Verde in Catamarca Argentina

VANCOUVER, B.C., Dec. 22, 2017 (GLOBE NEWSWIRE) -- Ultra Lithium Inc. (TSX-V:ULI) (“ULI” or “the Company”) has received preliminary assay results of the first four samples from the second round of sampling completed in December 2017 on the Salar Laguna Verde Discovery Zone in Catamarca Province, Argentina. Assay results indicate lithium values in the range of 263 to 1,178 milligrams per liter (mg/L) or parts per million (ppm), magnesium values less than 20 ppm to 9,150 ppm and potassium values are 6,706 ppm to 21,741 ppm. The Laguna Verde area is marked by low magnesium to lithium ratios, in the range of 0.019 to 7.77.

A total of 36 samples were collected from surface and shallow sub-surface brines down to a depth of one meter or less. Hand tools, such as hammers, and shovels were used to break the surface salt / sediment layers to access the brines. Brine samples were collected in clean plastic bottles which were rinsed with brine before sampling. Field parameters of each sample were recorded which include: depth of water table from surface, total dissolved solids, temperature, conductivity, salinity, pH, and density. All samples were shipped to SGS Laboratories in Buenos Aires, while four duplicate samples were sent to Alex Stewart Laboratories in Jujuy, Argentina. The samples were assayed by method LMMT03 (ICP-OES). The results of these four duplicate samples are reported with highlights presented below (also see Table 1).

Highlights:

• Sample 17CA079 – indicated 1,178 ppm lithium (Li), 16,994 ppm potassium (K), 1,900 ppm boron (B), and 9,150 ppm magnesium (Mg); with Mg/Li ratio of 7.77.
• Sample 17CA081 – indicated 263 ppm lithium, 6,706 ppm potassium, 602 ppm boron, and 34 ppm magnesium (Mg); with Mg/Li ratio of 0.13.
• Sample 17CA082 – indicated 685 ppm lithium, 10,084 ppm potassium, 777 ppm boron, and 3,861 ppm magnesium; with Mg/Li ratio of 5.64.
• Sample 17CA083 – indicated 1,048 ppm lithium, 21,741 ppm potassium, 2,734 ppm boron, and less than 20 ppm magnesium (Mg). Mg/Li ratio cannot be calculated because magnesium values are below the laboratory method detection limit of 20 mg/L.

The Company is waiting for the assay results from SGS Laboratories in Buenos Aires, Argentina which are expected in January.

Alex Stewart International and its worldwide group of Companies extends over 40 countries to provide professional inspection and laboratory analysis to business and government. Alex Stewart International maintains a dedicated, personalized attention to all of its customers and provides technical expertise for inspection, weighing, sampling, analysis, testing and operational auditing of all commodities and products.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

“Kiki Smith”

Kiki Smith, CFO

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 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.

For further information, please contact the Company at:
Attention: Kiki Smith
Telephone: 778 968-1176
Facsimile: 604 909-4682
Email:kiki@ultralithium.com
Website: www.ultralithium.com
or view the Company’s filings at www.SEDAR.com.

Table 1: December 2017 Sampling Data from Salar Laguna Verde Discovery Zone