VANCOUVER, British Columbia, June 17, 2021 (GLOBE NEWSWIRE) -- Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or “the Company”) announces that it has restaked 50 placer claims in the South Big Smoky Valley area in Esmeralda County, Nevada, USA. The placer claims were staked in two claim blocks where Ultra drilled two drill holes and carried out other exploratory work during the 2014-16 period. The drill core and surface sampling indicated anomalous values of lithium in sediments. Ultra’s ground geophysical survey (CSAMT - controlled source audio-frequency magnetotelluric survey) in 2014 interpreted low resistivity zones down to a depth of 1,000 metres in these claim areas. This Project has geological conditions favourable for hosting Lithium enriched brines.

South Big Smoky Valley shares a similar geology and weathering history to the Clayton Valley, located 16 miles (25.6km) to the south. The north end of Clayton Valley hosts Chemetall Foote Corporation’s Silver Peak Mine, the only lithium brine producer in the United States. Mine production comes from lithium enriched brines located below the surface. This plant has been in production since 1967.

Dr. Weiguo Lang, CEO of Ultra Resources, stated that, “The Company is pleased to rejuvenate its efforts to explore the South Big Smoky area again. This was prompted by a recent surge in the lithium and EV industry and higher lithium carbonate prices. The Company is working on evaluating its previous exploration work and developing a working plan for this area.”

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 Vice President Exploration of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

“Kiki Smith”

Kiki Smith, CFO

About Ultra Resources Inc.
Ultra Resources Inc. is an exploration and development company with a focus on the acquisition and development of lithium, gold and copper assets. The Company holds hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada and a brine lithium property in Argentina. The Company also holds other gold and base metals properties in Argentina.

For further information, please contact the Company at:
Attention: Kiki Smith
Telephone: 778 968-1176
Email: [email protected]
Website: www.ultraresourcesinc.com
or view the Company’s filings at www.SEDAR.com.