ULI Ultra Lithium Inc

Ultra Lithium (TSX VENTURE:ULI) ("the Company" or "Ultra") is pleased to
announce that it has entered into a non-binding letter of intent ("LOI") with
Beijing Explo-Tech Engineering Co. Ltd. (BETEC) to form a strategic alliance for
the exploration of its highly prospective Serbian exploration licenses (the
"Property").


This strategic alliance will allow Ultra to move its Property forward
expeditiously, both from a financial and geological perspective. This
partnership will ensure the rapid advancement of our exploration program with
minimal dilution to the Company. 


Ultra's Chief Executive Officer, Marc Morin, commented, "We believe this $4.25
million investment highlights the unrecognized value of the Company's
lithium/boron assets and accomplishes several objectives for the benefit of
Ultra and its stakeholders. We look forward to working with BETEC."


Highlights of the LOI:



--  BETEC will invest CAD$750,000 through the purchase of units of
    securities of Ultra at $0.10 per unit. Each unit will consist of one (1)
    common share of Ultra and one-half of one (1/2) common share purchase
    warrant, with each whole warrant entitling BETEC to acquire one (1)
    additional common share of Ultra at $0.15 per share for period of two
    (2) years. 
--  BETEC undertakes and commits to fund up to CAD$3,500,000 of approved
    expenditures. Such expenditures will be incurred within a period of
    three (3) years. 
--  BETEC will earn a five (5%) per cent equity interest in Ultra Balkans
    d.o.o., Ultra's wholly-owned Serbian subsidiary, for each CAD$500,000 of
    approved expenditures incurred and up to a 35% equity interest once the
    entire CAD$3,500,000 of qualified expenditures has been incurred. 



About Ultra Lithium:

Ultra Lithium Inc. is a junior explorer listed on the TSX Venture Exchange under
the symbol ULI. The Company is committed to the aggressive pursuit of properties
with high returns-on-investment and maximizing the value of assets through a
disciplined process of assessment and responsible acquisitions. Currently, the
Company holds exploration licenses in Ontario, Canada, Nevada, U.S.A and Serbia.



Property Highlights:



--  643 sq. km. of lithium/boron mineral exploration licenses in the
    Republic of Serbia. 
--  All 7 exploration concessions are within well-defined sedimentary
    basins. 
--  Standard exploration technique to define drill targets, "Magneto-
    Tellurics" and Gravity. 
--  Proximity to infrastructure (rail/road/sea), (electricity), and (labour
    force). 
--  Ultra has 100% ownership of its exploration licenses. 
--  The same geological belt as Rio Tinto's Jadar deposit. Rio Tinto is
    completing a $27 million pre-feasibility study. They are projecting
    production for 2016. 
--  Rio Tinto's Jadar deposit could produce up to 20% of the current
    worldwide annual lithium demand. 
--  Off the shelf technology can process Jadarite ore (soda ash / sulfuric
    acid). 



About Beijing Explo-Tech Engineering Co. Ltd.

BETEC is a high-tech enterprise which provides geological exploration services,
research, software development and technology support for the mining industry.
Areas of expertise include geological, geophysical, geochemical and remote
sensing. BETEC has 110 official employees. 


Terms of the proposed transaction:

As stated in the preceding highlights, under the terms of the LOI, BETEC will
invest CAD$750,000 through the purchase of units of securities of Ultra at $0.10
per unit. Each unit will consist of one (1) common share of Ultra and one-half
of one (1/2) common share purchase warrant, with each whole warrant entitling
BETEC to acquire one (1) additional common share of Ultra at $0.15 per share for
a period of two (2) years. BETEC also undertakes and commits to fund up to
CAD$3,500,000 of approved exploration expenditures on the Property to be
incurred within a period of three (3) years from the date of formation of the
joint venture. BETEC will earn a five (5%) per cent equity interest for each
CAD$500,000 of approved expenditures incurred and up to a thirty five (35%) per
cent equity interest once the entire CAD$3,500,000 of qualified expenditures has
been incurred. 


Both parties agree to hold the Property and the other assets of the partnership
consistent with applicable legislation, to explore the Property for minerals
and, if feasible, develop a mine thereon, and so long as it is technically,
economically and legally feasible, operate such mine and exploit the minerals
extracted from the Property, and carry out any other activity in connection with
or incidental to any of the foregoing.


Closing of the proposed transaction is subject to satisfaction or waiver of
terms and conditions, customary or otherwise, including, but not limited to,
satisfactory completion of a definitive agreement as well as the equity
financing, acceptance by the TSX Venture Exchange of the proposed transaction,
and other applicable shareholder and regulatory approvals. There can be no
assurance that the proposed transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement to be
prepared in connection with the proposed transaction, any information released
or received with respect to the proposed transaction may not be accurate or
complete and should not be relied upon.


Ultra intends to issue further announcements as the definitive agreement is
signed, due diligence is completed and other milestones are achieved. 


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.


We seek Safe Harbor.

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