Ultra Lithium Sampled Up to 1270 Ppm Lithium at Salar Laguna Verde in Catamarca Argentina

VANCOUVER, British Columbia, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Ultra Lithium Inc. (TSX-V:ULI) (“ULI” or “the Company”) has received complete assay results of the second round of sampling work carried out in December 2017 on the Salar Laguna Verde Discovery Zone in Catamarca Province, Argentina. Assay results 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 one ppm to 7,920 ppm, potassium 804 ppm to 15,800 ppm, and boron 65.5 to 2,190 ppm. The Laguna Verde area is marked by low magnesium to lithium ratios, in the range of zero to 10.2.

Highlights:

• Lithium values up to 1270 ppm, potassium 15,800 ppm (1.58%), and boron up to 2,190 ppm.
• Fourteen samples in the central part of the Salar have lithium values greater than 500 ppm.
• Average values of lithium in all samples is 526 ppm, boron 673 ppm, magnesium 1,916 ppm, potassium 7211 ppm and sodium 86,081 ppm.
• Average magnesium to lithium ratio is 3, a very favourable factor for shorter evaporation time and potential lower lithium carbonate production costs.

Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, “We are very pleased with the success of our Argentinian exploration work to date. The Company is planning to commence geophysical surveys in the coming weeks. We will also commence evaporation process testing of lithium brines. These are the next big steps in moving the Laguna Verde Discovery Zone project forward.”

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 which were reported in December 22, 2017 news release. Two field blank and three field duplicate samples were also shipped to SGS as part of quality assurance and quality control purposes. SGS is a global chain of independent certified laboratories. The samples were assayed by SGS method ME. 113 based on SM 3120, 23^rd Edition.

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