Ultra Lithium Commences Drilling at the Balkans Lithium and Boron Properties in Serbia
July 25 2013 - 9:15AM
Marketwired
Ultra Lithium (TSX VENTURE:ULI)(FRANKFURT:QFB) ("the Company" or
"Ultra") is pleased to announce that drilling has commenced on the
Company's lithium and boron targets in Serbia. The initial phase of
drilling will consist of approximately 3,500 meters of core in 7
holes testing anomalous AMT targets in the Blace and Valjevo East
prospecting licenses. The first four drill holes will test the
Blace prospecting license, and the subsequent three drill holes
will test targets at the Valjevo East prospecting license. The
Company has commissioned a second drill rig which will be mobilized
to the property within the next 2 weeks.
Ultra currently holds a total of 7 prospecting licenses,
covering an area of approximately 643 square km. within
well-defined sedimentary basins throughout Serbia. Under new mining
laws each license has a 3 year term, extendable up to a total of 7
years.
The Ultra Balkans Project is a joint venture between Ultra
Lithium Inc. (95%) and Beijing Guofang Mining Investment Co., Ltd.
("BGMI") (5%). BGMI has the right to earn up to a 35% interest in
Ultra Balkans by funding up to $3,500,000 of exploration
expenditures on the Ultra Balkans Project.
The technical information in this news release has been prepared
in accordance with the Canadian regulatory requirements set out in
NI 43-101 and reviewed and approved on behalf of the Company by Mr.
Shahab Tavakoli, P.Geo., Geophysicist, M.Sc., a Qualified Person
under NI 43-101.
For more technical information on Ultra's Balkans Project,
please refer to: http://ultralithium.com/properties/balkans/
ULTRA LITHIUM INC.
On behalf of the Board,
Marc Morin, 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.
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.
We seek Safe Harbor.
Contacts: Ultra Lithium Inc. (604) 669-5778 (604) 669-9768
(FAX)