Ultra Lithium Completes First Tranche of Financing

VANCOUVER, BRITISH COLUMBIA, Jul 12 (MARKET WIRE) --
Ultra Lithium (TSX VENTURE:ULI) ("the Company" or "Ultra") is pleased to
announce that it has closed the first tranche of its previously announced
private placement with Beijing Guofang Mining Investment Co., Ltd.,
("BGMI"). The Company issued 10,000,000 units to BGMI at a price of $0.05
per unit for gross proceeds of $500,000.00. Each unit consists of one
common share of the Company and one common share purchase warrant
("Warrant"), with each warrant entitling BGMI to acquire one additional
common share of the Company at $0.10 per share at any time until July 9,
2014. The securities issued under the private placement are subject to a
four month hold period expiring November 10, 2012.

In the second tranche, BGMI and associates will subscribe an additional
10,000,000 Units at a price of $0.05 per unit for gross proceeds of
$500,000.00. Upon completion of the second tranche, BGMI will become an
insider of the Company and will hold 10.47% of the issued and outstanding
common shares of the Company on an undiluted basis, and up to 17.84% of
the common shares of a fully diluted basis.

A finder's fee of $40,000 is payable on this tranche of the private
placement.

On April 18, 2012, the Company and BGMI entered into a Framework
Agreement pursuant to which BGMI and its associates agreed to invest
$1,000,000 in units of the Company. BGMI also agreed to fund up to
CAD$3,500,000 of approved exploration expenditures on the Company's
Balkans Property in the Republic of Serbia, to be incurred within a
period of three (3) years. BGMI will earn a five (5%) per cent equity
interest for each CAD$500,000 of approved expenditures incurred and up to
a thirty five (35%) per cent equity interest once the entire
CAD$3,500,000 of qualified expenditures has been incurred. The Company
and BGMI continue to explore the Balkans Property in a joint venture.

On behalf of the Board of Directors

ULTRA LITHIUM INC.

Marc Morin, President & CEO

Statements in this press release regarding the Company which are not
historical facts are "forward-looking statements" that involve risks and
uncertainties. Such information can generally be identified by the use of
forwarding-looking wording such as "may", "expect", "estimate",
"anticipate", "intend", "believe" and "continue" or the negative thereof
or similar variations. Since forward-looking statements address future
events and conditions, by their very nature, they involve inherent risks
and uncertainties such as the risk that the closing may not occur for any
reason. Actual results in each case could differ materially from those
currently anticipated in such statements due to factors such as: (i) the
inability of the parties to consummate the definitive letter agreement;
(ii) fluctuation of mineral prices; (iii) a change in market conditions;
(iv) the inability to produce the technical report for any reason
whatsoever; and (v) the refusal of the Exchange to accept the proposed
transaction for any reason whatsoever. Except as required by law, the
Company does not intend to update any changes to such statements.

We seek Safe Harbor.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Ultra Lithium Inc.
Andrew Brown
(604) 669-5778
(604) 669-9768 (FAX)

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