Channel Samples At Forgan Lake Property

VANCOUVER - Ultra Lithium Inc. reported on the first batch of channel sampling completed during Q4 2022 exploration work at its Forgan Lake Lithium Property in northwestern Ontario, Canada. The channel sampling was completed at the Number 1 Pegmatite and other pegmatites on the Property. The first two trenches / channels (Channels 1 and 2) cut 10 meters of lithium pegmatites each with 1.81% and 1.29% lithium oxide (Li2O), respectively. Anomalous values of other rare metals, including beryllium (Be), cesium (Cs), niobium (Nb), rubidium Channel 1 intersected 10 meters wide pegmatite with average 8,417 parts per million (ppm) lithium (Li) or 1.88% Li2O. The other rare metals assayed average 203.30 ppm Be, 33.99 ppm Cs, 64.27 ppm Nb, 998 ppm Rb, and 42.98 ppm Ta. Also at Channel 1, a 3 m wide section (Samples 906574-6) assayed average 2.52% Li2O, similarly, a one-meter section (sample 906571) assayed 2.86% Li2O.

Channel 2 also intersected 10 meters wide pegmatite with average 6,020 ppm Li or 1.29% Li2O. The other rare metals assayed average 207.3 ppm Be, 28.17 ppm Cs, 65.07 ppm Nb, 753.2 ppm Rb, and 38.75 ppm Ta. A one-meter section (Sample 906589) assayed 2.05% Li2O.

Both channels showed less than 1 percent iron (Fe) which can be a positive factor in metallurgical testwork for saving costs to remove impurities, along with representing consistency in lithium grades. Each channel sample represents a one meter long, 5 cm wide and 3-5 cm deep cut in bedrock. The samples were logged in the field and at the Pleson Geoscience core shack located in Nipigon, ON.