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ultra lithium inc (QFB) Snapshot

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ultra lithium inc (QFB) Details

Ultra Lithium Inc. engages in the acquisition, exploration, and development of resource properties in Canada. The company holds interests in the Balkans project comprising 7 lithium/boron exploration licenses, which cover an area of approximately 643 square kilometers located in the Republic of Serbia. It also holds an option to acquire a 20% interest in the Zigzag Lake lithium, tantalum, beryllium, and gallium property that consists of 129 claim units for a total surface area of 2,064 hectares located in the town ship of Crescent Lake, Ontario; and a 100% interest the South Big Smokey Valley property, which comprises 364 placer claims covering an area of approximately 7,280 acres located in Esmeralda County, Nevada. The company was formerly known as Jantar Resources Ltd. and changed its name to Ultra Lithium Inc. in September 2009. Ultra Lithium Inc. was founded in 2004 and is headquartered in Vancouver, Canada.

Founded in 2004

ultra lithium inc (QFB) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$63.8K
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2012.

ultra lithium inc (QFB) Key Developments

Ultra Lithium Inc. Completes Nine Holes

Ultra Lithium Inc. announced that it has completed nine holes, totaling 5,390.70 meters of diamond drilling on the Company's Valjevo East and Blace exploration claims. The current drilling program tested several targets that were identified by previous Audio Magneto-Telluric (AMT) and gravity geophysical surveys. Core samples have been dispatched to SGS in Bor, Serbia for multi-element assays including Lithium and Boron. The company expects to receive all lab analysis by the end of March, 2014. To date, 1124 AMT survey points along with 1,365 gravity point measurements have been collected which have identified several targets within the company's 7 exploration properties with a total area of 676.54 Sq. km. Upon receipt of assay results, the company will analyze and review all the data and plan this year's exploration program.

Ultra Lithium Enters into Letter of Intent with CCG Mining (Canada) for South Big Smoky Valley, Nevada Joint Venture

Ultra Lithium Inc. announced that it has signed a non-binding Letter of Intent with CCG Mining (Canada) Inc. with respect to a joint venture to explore and develop ULI's South Big Smoky Valley claims located in Nevada, USA. Under the terms of the LOI, CCG undertakes and commits to fund up to $2,000,000 of qualifying exploration expenditures in the Property to acquire up to a 35% equity interest in the joint venture over a period of three years. CCG will earn a 10% equity interest for a $500,000 investment in the first year, an additional 10% equity interest for a $500,000 investment in the second year and an additional 15% equity interest for a $1,000,000 investment in the third year. Upon CCG's full exercise of its option, the joint venture will be owned 65% by ULI and 35% by CCG. CCG will have the right of first refusal to further fund and increase its ownership in the joint venture in addition to its 35% share should ULI grant a further option of its interest in the Property.

Ultra Lithium Inc Appoints Jerry Aiken to Technical Advisory Board

Ultra Lithium Inc. appointed Mr. Jerry Aiken, to the Company's Technical Advisory Board. Mr. Aiken has more than 42 years of experience in the mineral exploration business involving base and precious metals and industrial minerals with most recent emphasis on Lithium, Potash and Borates. He has been involved in project generation, geologic mapping, geochemical evaluation, drill program supervision and regional program management throughout the Western United States, Canada, Mexico, South America and parts of Europe.


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