Ultra Lithium Arranges a Financing

Thu Jan 24, 2013 4:05pm EST

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Ultra Lithium Inc. (TSX VENTURE:ULI)(FRANKFURT:QFB) ("the Company") is
pleased to announce that it has arranged for a non-brokered private
placement of units (the "Units") of securities of the Company at a price
of $0.05 per Unit for gross proceeds of up to $4,500,000. Each Unit will
consist of one common share of the Company and one common share purchase
warrant ("Warrant"). Each Warrant will entitle the holder to purchase an
additional common share of the Company at an exercise price of $0.10 per
share for a period of two years from closing of the private placement.

    Finders' fees may be payable in connection with this private placement in
accordance with the policies of the TSX Venture Exchange ("Exchange").

    The proceeds from the private placement will be used primarily to fund
the exploration and development of the Company's Balkans Project in the
Republic of Serbia and for general working capital purposes. 

    All securities issued under the private placement will be subject to a
four month hold period from the closing date under applicable Canadian
securities laws, in addition to such other restrictions as may apply
under applicable securities laws of jurisdictions outside Canada. The
private placement is subject to all necessary regulatory approvals
including acceptance for filing by the Exchange.

    On behalf of the Board of Directors,


    Marc Morin, President & CEO

    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.
Marc Morin
President & CEO
(604) 669-5778
(604) 669-9768 (FAX)

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