VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 13, 2016) -
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
Ultra Lithium Inc. (TSX VENTURE:ULI) ("Ultra Lithium" or "the Company") is pleased to announce that it has recommenced drilling at its 100% owned South Big Smoky Valley brine lithium project in Nevada, USA. The contractor, Boart Longyear has mobilized to the property and started drilling at hole 2 of the Phase 1 exploratory drill program.
Target depth for this drill hole is 2,200 feet (670 meters) and its purpose is to test one of the several brine lithium targets identified in the Controlled Source Audio-Frequency Magneto-telluric (CSAMT) ground geophysical survey data interpretation report received in December 2015 (see Company's press release dated March 07, 2016).
Dr. Weiguo Lang, CEO of Ultra Lithium, stated that, "The Company is pleased to continue exploring the promising brine lithium targets in the South Big Smoky Valley. With a strong lithium market outlook we look forward to the results of this drilling campaign."
The technical information contained in this news release has been reviewed by Afzaal Pirzada, P.Geo., who is a member of the Association of Professional Engineers and Geoscientists of British Columbia with license # 28657. Mr. Pirzada, who works as a consultant with the Company has prepared and supervised the preparation of this news release and approves the scientific and technical content. Mr. Pirzada is a Qualified Person as defined in National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
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 is currently focused on North American acquisitions and exploring its Big Smoky Valley Project located in Nevada, USA.
View the Company's filings at www.SEDAR.com.
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.