Ms. Kiki Smith reports

ULTRA LITHIUM INC. CLOSES PRIVATE PLACEMENT

Ultra Lithium Inc. has closed a non-brokered private placement, issuing 18,181,819 units at a price of 5.5 cents per unit for gross proceeds of $1-million.

Each unit will comprise one common share of the company and one-half common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share of the company at 11 cents in the first 12 months following issuance and at 25 cents in the second 12 months following issuance. The net proceeds from the sale of units will be used for general working capital purposes.

In connection with a portion of the private placement, the company will pay finders' fees of $30,000 cash and issue 545,455 finders' shares to a finder. The private placement is subject to the receipt of all necessary regulatory approvals, including the TSX Venture Exchange. The unit shares, warrant shares and finders' shares will be subject to a hold period of four months and one day, in accordance with applicable securities laws.

About Ultra Lithium Inc.

Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium, gold and copper assets. The company holds a brine lithium property in Argentina, hardrock spodumene-type lithium properties at the Georgia Lake/Forgan Lake area in Northwestern Ontario, Canada, and a brine lithium property in Big Smoky Valley, Nevada, United States. The company also holds other gold and base metals properties in Argentina.

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