Ultra Lithium Acquires 344 Square kms of Serbian Mineral Concessions With Lithium and Boron Potential

Ultra Lithium Inc. (TSX VENTURE:ULI) ("the Company" or "Ultra") is pleased to
announce that it has been granted four (4) additional lithium/boron exploration
licenses (prospects) in the Republic of Serbia through its wholly-owned
subsidiary, Ultra Balkans doo, for the Valjevo East, Koceljeva, Ladevci and
Preljina mineral prospects, by the Ministry of Environment, Mining and Spatial
Planning. The successful exploration license applications cover an area of
approximately 344 square km in total.

With the grant of these four (4) additional exploration licenses, Ultra
currently holds a total of six (6) exploration licenses that cover 544 square km
of prospective stratigraphy. All prospects have the potential to host
significant lithium and boron bearing Jaderite mineralization that forms within
fine-grained, well-layered lacustrine sediments of Tertiary age.

The Company intends to conduct field reconnaissance, mapping, geochemical
sampling and geophysical surveys during the remainder 2011 to prioritize drill
targets.

Marc Morin, President and Chief Executive Officer stated, "We are pleased to
have been awarded the additional licenses and intend to fast track our
exploration program in the Balkans region, especially with the news of Rio
Tinto's commitment of spending $27 million to conduct a pre-feasibility on its
Jadar deposit." (1)

Valjevo East is a highly ranked mineral prospect which covers an area of
approximately 78 square km located approximately 60 km south of Belgrade, in the
Municipalities of Ljig and Lazarevac, Central Serbia. It is situated adjacent to
Pan Global Resources' Valjevo and Ljig mineral prospects.

The Koceljeva mineral prospect is situated approximately 60 km southwest of
Belgrade in the Municipalities of Vladimirci and Sabac. It covers an area of
almost 66 square km and is situated approximately 20 km east of Rio Tinto's
Jadar Li-B deposit (114Mt @ 1.8% Li2O & 13.1% B2O3) where production is
estimated to commence in 2016.(2) The Koceljeva property hosts a distinct
sedimentary sequence which the Company believes to be geologically correlated to
Rio Tinto's Jadar deposit.

The Ladevci and Preljina mineral prospects cover an area of approximately 100
square km each and are located in the central part of Serbia, in the
Municipalities of Cacak, Kraljevo and Gornji Milanovac, approximately 100 km
south of Belgrade. The tenements comprise the northern part of the NW-SE
trending Morava depression (more than 1,000 square km in size) that hosts a
promising basin system. Preljina and Ladevci properties are situated to the
north of Trnava tenement that were awarded to Ultra Balkans last month and north
of Rio Tinto's Janok mineral prospect.

Ultra Lithium is the 100% owner and operator of these exploration licenses. The
Company is also pleased to announce that in accordance with its strategy of
expansion, additional exploration licenses have been applied for in the Republic
of Serbia which hosts high quality targets for Lithium-Boron mineralization
within its Miocene-aged sedimentary basins.

Please visit the Company's website (www.ultralithium.com) to view the location
maps of our mineral prospects.

The technical information in this news release has been prepared in accordance
with the Canadian regulatory requirements set out in NI 43-101 and reviewed on
behalf of the Company by Mr. Phu Van Bui, P.Geo, an Independent Director and
Qualified Person under NI 43-101.

Ultra Lithium Inc. is a Canadian junior mining & exploration company with focus
in lithium and rare earth metals.

On behalf of the Board, ULTRA LITHIUM INC.

Marc Morin, CEO

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.

1. Source: Industrial Minerals. (2011). Rio Tinto Minerals commit to $27m. to
Serbia borates study (Press Release). Retrieved from:
http://www.indmin.com/Article/2860499/Channel/19523/Rio-Tinto-Minerals-commit-to-27m-to-Serbia-borates-study.html.

2. Source: Industrial Minerals. (2011). Rio Tinto Minerals commit to $27m. to
Serbia borates study (Press Release). Retrieved from:
http://www.indmin.com/Article/2860499/Channel/19523/Rio-Tinto-Minerals-commit-to-27m-to-Serbia-borates-study.html.

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