Ultra Lithium Announces Completion of Geophysical Surveys on Balkans Properties

Thu Nov 8, 2012 10:32am EST

* Reuters is not responsible for the content in this press release.

Ultra Lithium Inc. (TSX VENTURE:ULI) ("the Company" or "Ultra") is
pleased to announce the completion of Audio-Magneto-Telluric surveys
(AMT) on its Balkan Projects in the Republic of Serbia. Exploration is
being conducted in search of lithium and boron bearing deposits. The
geophysical surveys were conducted by Beijing Explo-Tech Engineering Co.
("BETEC") of Beijing, China.

    Independent geophysicists at BETEC are currently reviewing and compiling
all of the data generated from the geophysical survey. Preliminary
interpretation of the initial AMT profiles has identified high priority
targets within several of the concessions. These early results have
prompted the Company to conduct follow-up AMT grid surveys (with an
average density of one sample per km2) on two high priority concessions.
The geophysical grids are now complete and will enable the Company to
create detailed 3D models of the anomalies and help delineate specific
drill targets to be tested in Q1 of 2013. Final interpretation of the
geophysical data will be received prior to year end. 

    The Company also initiated a sampling program to test several outcrops
and corroborate samples to the underlying anomalies. We expect to receive
assays in early 2013. 

    Highlights include:

--  Field work completed on Blace, Ladjevci, Preljina, Valjevo, Koceljeva
    and Trnava concessions. 
--  Several anomalies were identified. 
--  Commenced sampling program to test surface outcrops.

    Marc Morin, Ultra Lithium's President & Chief Executive Officer said, "We
are very encouraged by the early exploration results to date. Several
anomalies have been identified with two high priority targets. The
interpretations from our initial AMT surveys will help prioritize our
upcoming drill program in Serbia."

    For more technical information on Ultra's Balkans property, please refer
to: http://ultralithium.com/properties/balkans/


    On behalf of the Board

    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.

Ultra Lithium Inc.
Mr. Marc Morin
President and CEO
604-669-9788 ext. 201

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