Ultra Lithium Completes 3,500 Meters Drilling to Date at Forgan Lake and Georgia Lake Lithium Properties Northwestern Ontario Intersecting Lithium Pegmatites With Widths Up to 15 Meters

Ultra Lithium Completes 3,500 Meters Drilling to Date at Forgan Lake and Georgia Lake Lithium Properties Northwestern Ontario Intersecting Lithium Pegmatites With Widths Up to 15 Meters

Ultra Lithium Inc. ( TSXV:ULT, OTCQB: ULTXF and Frankfurt: QFB ) ("Ultra Lithium" or "the Company") is pleased to provide an update on drilling progress at its Forgan Lake and Georgia Lake Lithium properties in northwestern Ontario, Canada. To date, the Company has completed 31 NQ and HQ size drill holes for over 3,500 meters of diamond drilling over the two properties. Several drill holes intersected lithium pegmatites of various widths ranging from 0.5 m to 15 m. Drill-core is presently stored at the Pleson Geoscience Core yard in Nipigon, ON where it is being logged and sample intervals marked. The drill core will be cut using a rock saw and samples will be shipped for assay over the next month.

Georgia Lake Drilling
The summer 2022 diamond drill program comprised 9 holes for a total of 1,402 meters at the Camp and Trans pegmatite showings and was carried out by Niigaani Drilling using a medium size diamond drill rig with NQ size bit. Seven of the drill holes completed were focused on the exposed Camp Pegmatite showing, in order to define the geometry and the grades of the spodumene bearing pegmatite dyke along strike and dip. Two drill holes were completed to explore other pegmatites in the area. The Company will embark on a soils sampling program to identify additional pegmatites at Georgia Lake.

Forgan Lake Drilling
A 3,000 meter drilling contract was signed with Diafore Drilling Inc. from Quebec, of which 17 NQ size and 5 HQ size drill holes have been completed for a total of 2,465 meters. Drill holes intersected lithium pegmatites ranging from 0.5 m to 15 m. It was observed the Forgan Lake pegmatites are wider and more consistent than at Georgia Lake so the Company expanded its drilling program at Forgan Lake. The Company is completing an additional 400 meters of larger diameter HQ size drill holes to better define the lithium pegmatites and minimize the nugget effect of large spodumene crystals. Some of the HQ core will be mixed with bulk surface samples collected for metallurgical testwork.

Option Grant

The Company has granted a total of 7,762,500 incentive stock options to various directors, officers and consultants of the Company in accordance with the Company's stock option plan. Each Option is exercisable into one common share of the Company at a price of $0.10 per share. The Options vested on grant and will expire on October 10, 2027. The stock options granted are subject to the acceptance of the TSX Venture Exchange.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a qualified person, as defined by NI 43-101 who works as VP Exploration of the Company.

About Ultra Lithium Inc.

Ultra Lithium Inc. 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, hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada, and a brine lithium property in the Big Smoky Valley, Nevada, USA. The Company also holds other gold and base metals properties in Argentina.

ON BEHALF OF THE BOARD OF DIRECTORS

"Kiki Smith"

Kiki Smith, CFO

For further information, please contact the Company at:
Attention: Kiki Smith
Telephone: 778 968-1176
Facsimile: 604 909-4682
Email: kiki@ultralithium.com
Website: www.ultralithium.com
or view the Company's filings at www.SEDAR.com .

Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ca597f2a-652f-49bd-a67f-812b3ed784ed

https://www.globenewswire.com/NewsRoom/AttachmentNg/659b127d-8d41-45af-89e8-139c9803cb01

https://www.globenewswire.com/NewsRoom/AttachmentNg/44250111-ee96-4c3c-8cd8-4a48c0991f84


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Ultra Lithium Inc. Appoints Directors

Ultra Lithium Inc. Appoints Directors

Ultra Lithium Inc. (TSX-V: ULT OTCQB: ULTXF) ("Ultra Lithium" or the "Company") is pleased to announce that Kiki Smith and Graham Adria have been appoint to the Company's board of directors.

Graham Adria was appointed to the board of directors on November 15, 2023. Graham Adria has extensive experience as a corporate lawyer and currently works for an international law firm in Beijing. He is experienced in cross-border transactions in the resources sector, particularly on small and mid-cap mining transactions into Africa and Asia. Graham received his Bachelor of Arts (Honors) in Political Science from the University of Alberta and his Juris Doctor from Osgoode Hall. Graham is called to the bar in Ontario.

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CORRECTING and REPLACING - Ultra Lithium Inc. Closes Private Placement

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In a news release issued Friday, August 11, 2023, by Ultra Lithium Inc. (TSX-V: ULT OTCQB: ULTXF) under the same headline, please note the Warrant Share price in the second paragraph should be "$0.25 in the second twelve months following issuance" rather than "$0.12 in the second twelve months following issuance" as originally issued. Complete corrected text follows.

Ultra Lithium Inc. (TSX-V: ULT OTCQB: ULTXF) ("Ultra Lithium" or the "Company") is pleased to announce that it has closed a non-brokered private placement issuing 18,181,819 Units at a price of C$0.055 per Unit for gross proceeds of C$1,000,000.

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Ultra Lithium Invites Shareholders and Investment Community To Visit Booth #2353 at PDAC 2023 Toronto, March 5-8, 2023

Ultra Lithium Invites Shareholders and Investment Community To Visit Booth #2353 at PDAC 2023 Toronto, March 5-8, 2023

Ultra Lithium Corp. (TSXV: ULT) (OTCQB: ULTXF) ("Ultra" or the "Company") is pleased to be exhibiting in Toronto this weekend at Booth #2353 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 5 to Wednesday, March 8, 2023.

ABOUT Ultra Lithium

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, hard rock spodumene type lithium properties at the Georgia Lake/Forgan Lake area in Northwestern Ontario, Canada, and a brine lithium property in the Big Smoky Valley, Nev., United States. The company also holds other gold and base metals properties in Argentina.

Additional information about Ultra and its operations can be found on the Company website at https://ultralithium.com/. Follow us on Twitter @Ultra_Lithium and LinkedIn at https://www.linkedin.com/company/ultra-lithium-inc.

On behalf of the Board of Directors
Kiki Smith, CFO

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Altech Batteries Ltd  CERENERGY Battery Project Funding Update

Altech Batteries Ltd CERENERGY Battery Project Funding Update

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce an update on funding of the CERENERGY(R) sodium-chloride solid-state battery project in Saxony, Germany.

Highlights

- Financing plan and target structure in place

- Funding investment teaser documents and data room established

- Reach out to 10 commercial banks and 2 venture debt funds - all positive interests

- Shortlisting potential lead bank

- Equity Funding - potential sale of minority interest of the project to realise capital and strategic value

- Discussions and draft term sheets shared with investors

- Offtake agreement LOI signed with ZISP

On 14 June 2024, the Company, through its Germany subsidiary Altech Batteries GmbH ("ABG"), announced the appointment of global big four professional services firm ("funding adviser") to assist in securing finance for the construction of Altech's 120MWh CERENERGY(R) battery manufacturing plant in Germany. The project's financing strategy is structured across three key areas: debt, equity, and grants.

These sources will cover not only the capital expenditures but also financing costs, working capital, debt service coverage, and an additional contingency for potential business interruptions, See Figure 1*.

DEBT PROCESS

A funding invitation document (investment teaser) has been finalised and distributed to various financial institutions for debt funding in the project. The Group has engaged ten commercial banks and two venture debt funds in a first market round, receiving predominantly positive initial feedback. Several of these institutions have expressed strong interest in participating in the financing. The Group is now in the process of shortlisting potential lenders to identify the most suitable financial partners for the project. To support a thorough due diligence process, a secure data room has been set up, providing detailed project information to interested financiers and ensuring full transparency. The DFS financial model has been adjusted to stress-test various funding scenarios tailored to the lending institutions ABG has engaged with. Further steps involve determining the most suitable banks to form a syndicate and appointing a lead bank to guide the lending process. This syndicate will play a crucial role in structuring the financing arrangement to meet the project's requirements.

EQUITY FUNDING

In addition to ongoing debt financing efforts, the Group has engaged several equity advisers to support the equity component of the project's funding package. As part of this strategy, the Altech Group plans to divest a minority interest in the project to one or two strategic investors. This partial divestment aims to attract investors who can bring not only capital, but also strategic value to the project, aligning with the CERENERGY(R) project's long-term growth and sustainability objectives.

The Group is specifically targeting large utility groups, data centre operators, investment funds and corporations that are heavily involved in the green energy transition. These entities are seen as ideal partners due to their strong alignment with the project's focus on sustainable energy solutions, as well as their capacity to provide substantial financial backing.

To date, significant progress has been made in these equity discussions. Several Non-Disclosure Agreements (NDAs) have been signed, allowing for deeper engagement with prospective investors. Altech has also circulated draft term sheets to a number of interested parties, outlining the proposed terms and conditions for investment. These documents serve as a starting point for negotiations, paving the way for more detailed discussions regarding the potential equity stake and partnership structure.

The strategic decision to divest a portion of the project is aimed at reducing the overall financial burden on the Company while bringing in experienced partners who can contribute to the project's success. By securing both the equity and debt components, the Company aims to finalise the full financing package, ensuring the timely construction and commissioning of the CERENERGY(R) battery plant. The next steps will focus on advancing these discussions and converting interest into formal commitments, which are crucial for moving forward with the project.

OFFTAKE ARRANGEMENTS

On 13 September 24, Altech announced the execution of an Offtake Letter of Intent between Zweckverband Industriepark Schwarze Pumpe (ZISP) and Altech Batteries GmbH. Under this Offtake Letter of Intent (LOI), ZISP will purchase 30 MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The price of these batteries has been agreed and aligns with the sales price contained within Altech's Definitive Feasibility Study. The purchase of these batteries is subject to performance tests, battery specifications and the batteries meeting customer requirements. This offtake LOI constitutes an important aspect of the financing process. This lays the foundation for additional offtake arrangements, which are currently in progress. These agreements are vital for advancing our financing and construction timelines for the CERENERGY(R) project.

CEO and MD Mr Iggy Tan stated "The funding stage of any project is the most complex and challenging process of any project. Securing a big four funding adviser with expertise and a global network is a major step in our financing efforts. Altech is advancing both debt and equity discussions, along with offtake agreements, to fully fund the CERENERGY(R) project. We are seeing strong interest, especially from European banks and potential equity partners".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/PO741A78

To view MD Iggy Tan explain the Funding, please visit:
https://www.abnnewswire.net/lnk/23705649



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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An aggregate of 3,150,000 units (the " Units") of the Company were issued in the third and final tranche at a price of $0.05 per Unit for gross proceeds of $157,500, each Unit being comprised of one common share in the capital of the Company (each a "Common Share") and one-half common share purchase warrant (each a "Warrant"), each Warrant entitling its holder thereof to acquire one additional common share (each a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 60 months from the closing date. (the "Offering").

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Highlights:

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Trading resumes in:

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Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that, effective November 12, 2024, it has accepted a non-binding purchase offer letter from Mava Gasoil LLC ("Mava"), a corporation based in Houston Texas, for the sale of 100% of the interest in the Company's Argentina subsidiary, Resource Ventures S.A. ("ReVe"), in consideration for USD$3,500,000. One of the LEXI claims owned by ReVe and the royalties on that mining property, and the PINAC mining properties owned by ReVe are excluded from the sale and will be retained by Edison.

ReVe controls the rights to prospective lithium brine claims in the province of Catamarca, Argentina. The claims are principally located in the two geologic basins known as the Antofalla Salar and the Pipanaco Salar. ReVe's assets on closing of the disposition to Mava will include 30 mining concessions covering approximately 104,538 hectares area in Catamarca Province, Argentina. The Company will retain and focus its Argentinian efforts on 8 mining concessions covering approximately 35,000 hectares area in Catamarca Province, Argentina, which are not subject to the sale and amount to approximately 25% of the claims currently held by ReVe.

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Argentina Lithium Announces Cancellation of the Non-Brokered Private Placement

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/NOT FOR DISTRIBUTION TO UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

TSX Venture Exchange (TSX-V): LIT
Frankfurt Stock Exchange (FSE): OAY3
OTCQX Venture Market: LILIF

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