Vancouver, B.C., January 17, 2012 – Ultra Lithium (TSXV:ULI) (“the Company” or “Ultra”) is pleased to announce that it has been granted one (1) additional lithium/boron exploration license (prospects) in the Republic of Serbia, through its wholly-owned subsidiary, Ultra Balkans doo, for the Blace mineral prospect, by the Ministry of Environment, Mining and Spatial Planning. The successful exploration license application covers an area of approximately 99 square km.
With the grant of this additional exploration license, Ultra currently holds a total of seven (7) exploration licenses that cover approximately 643 square km of prospective stratigraphy. All prospects have the potential to host significant lithium and boron bearing Jaderite mineralization that forms within fine-grained, well-layered lacustrine sediments of Tertiary age.
In terms of progress, we would like to inform our shareholders of the following developments:
We have opened our office in Belgrade and have hired local geological staff. We have also begun compiling government regional geophysical data and completed field reconnaissance.
Our next step will be to assess and review data as well as initiate magnetotelluric surveys on our concessions. Further updates will follow.
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