United Lithium Corp Discovers Two New Lithium Rich Pegmatites at Bergby Project, Sweden, in ongoing Drill Program

Rhea-AI Summary

United Lithium Corp. (OTC: ULTHF) has successfully drilled 42 holes totaling 3730m at the Bergby Lithium Project in Sweden. Notably, discovery hole BBY21069 revealed 47.75m of 1.34% Li₂O, indicating significant lithium potential. The true thickness of this spodumene-bearing pegmatite is estimated at 10m. The company plans further drilling to test extensions of this pegmatite and anticipates additional discoveries in the unexplored Bergby region. The positive results enhance the strategic position of ULTHF in the lithium market.

Positive

• Discovery hole BBY21069 returned 47.75m of 1.34% Li2O.
• Total of 42 drill holes completed, with ongoing drilling and assays pending.
• New spodumene-bearing pegmatites identified, indicating potential for further lithium finds.

Negative

• None.

New high grade spodumene bearing pegmatites intersected

Rush assays on hole BBY21069 from one new pegmatite returned 47.75 m (true thickness 10m) of 1.34 % Li₂O

42 holes have now been completed totalling 3730m since United Lithium acquired the Bergby Lithium Project

Drilling continues; assays pending or incomplete on most holes

VANCOUVER, British Columbia, Jan. 20, 2022 (GLOBE NEWSWIRE) -- United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0UL) (“ULTH” or the “Company”) is pleased to announce completion of 42 core drill holes at the Bergby Lithium project near Gävle in central Sweden. A new spodumene bearing pegmatites was discovered in December 2021, with assays available from the discovery hole BBY21069. Drilling continues on this new discovery.

Discovery hole BBY21069 intersected 47.75m of 1.34% Li₂O from 2.25 m beneath shallow soil cover. It is interpreted based on nearby holes (BBY21071 and BBY21073 - see Figure 1) that drillhole BBY21069 intersected the host pegmatite at a low angle to dip and true thickness is approximately 10 metres. See Table 1 for the individual assay intervals for drill hole BBY21069.

This new discovery lies 750 metres northwest of the original Bergby lithium discovery drilled in 2017 (see Figures 2 and 3). The site was identified from boulderhunting and sampling and highlights the potential at Bergy for new near surface discoveries. The Bergy field has the characteristics of a pegmatite swarm with multiple intrusions, and ULTH’s technical team anticipates further pegmatites will be located.

Hole BBY21170, drilled 50m south of BBY21069, is planned to be deepened to test if the spodumene rich horizon is continuous to the southwest. Additional holes are planned to test the northeast and southwest extensions of this spodumene pegmatite (see Figure 2). Should positive visual results be received in the first step out holes, additional drilling will be added to test further northeast and southwest of BBY21069.

Michael Dehn, President and CEO of the Company stated: “We are excited to have achieved two new blind high grade lithium discoveries on the property in less than half a year of drilling. The boulder sampling program has been very successful at vectoring drill targeting for this new zone. The Bergby project remains very unexplored, and we look forward to further testing of this discovery and additional targets in 2022.”

Table 1: Drill Hole BBY21069 rush assay results

Drill hole number	from (m)	to (m)	length (m)	Li2O (%)
BBY21069	2.25	3.75	1.50	0.555
BBY21069	3.75	5.25	1.50	0.852
BBY21069	5.25	6.75	1.50	1.363
BBY21069	6.75	8.25	1.50	1.253
BBY21069	8.25	9.75	1.50	1.240
BBY21069	9.75	10.95	1.20	1.240
BBY21069	10.95	12.53	1.58	0.863
BBY21069	12.53	14.01	1.48	0.697
BBY21069	14.01	15.51	1.50	0.943
BBY21069	15.51	17.01	1.50	1.580
BBY21069	17.01	18.50	1.49	1.563
BBY21069	18.50	19.97	1.47	0.917
BBY21069	19.97	21.50	1.53	1.787
BBY21069	21.50	23.05	1.55	0.624
BBY21069	23.05	24.55	1.50	2.476
BBY21069	24.55	26.05	1.50	0.355
BBY21069	26.05	27.55	1.50	1.412
BBY21069	27.55	29.12	1.57	1.793
BBY21069	29.12	30.58	1.46	1.137
BBY21069	30.58	32.05	1.47	3.003
BBY21069	32.05	33.55	1.50	3.703
BBY21069	33.55	35.02	1.47	1.462
BBY21069	35.02	36.46	1.44	0.090
BBY21069	36.46	38.02	1.56	0.086
BBY21069	38.02	39.50	1.48	0.777
BBY21069	39.50	41.02	1.52	0.721
BBY21069	41.02	42.50	1.48	1.132
BBY21069	42.50	43.98	1.48	1.455
BBY21069	43.98	45.50	1.52	2.400
BBY21069	45.50	47.07	1.57	1.987
BBY21069	47.07	48.50	1.43	1.948
BBY21069	48.50	50.00	1.50	1.494

Figure 1 https://www.globenewswire.com/NewsRoom/AttachmentNg/fbeef6ff-e7d3-472a-b08b-77cd7bd1595c

Figure 2 https://www.globenewswire.com/NewsRoom/AttachmentNg/54cde0f1-9f2d-44e9-820c-adb23150e55c

Figure 3 https://www.globenewswire.com/NewsRoom/AttachmentNg/595d1497-988e-4a75-bcca-90521275ff35

Samples submitted by Leading Edge Materials Corp were prepared and analyzed by the ME-MS89L technique by ALS Ltd's laboratories in either Pitea, Sweden, Loughrea, Ireland and/or Vancouver, Canada, where duplicates, repeats, blanks and known standards were inserted according to standard industry practice.

Mark Saxon (FAusMM), Technical Advisor to the Company, is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure or Mineral Projects) and has prepared or reviewed the scientific and technical information in this press release.

On Behalf of The Board of Directors
Michael Dehn
Chief Executive Officer

Investor Relations
(604) 259-0889
ir@unitedlithium.com

Forward-Looking Statements Caution. This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future of the Company’s business, its product offerings and plans for marketing. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward- looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.

FAQ

What are the latest drill results from United Lithium Corp. (ULTHF)?

The latest results from drill hole BBY21069 revealed 47.75m of 1.34% Li2O.

How many drill holes has United Lithium Corp. completed at the Bergby Lithium Project?

United Lithium Corp. has completed 42 drill holes totaling 3730m at the Bergby Lithium Project.

What is the significance of the new spodumene discovery by United Lithium Corp. (ULTHF)?

The discovery indicates potential for lithium production and additional near-surface deposits at Bergby.

What is the location of the Bergby Lithium Project?

The Bergby Lithium Project is located near Gävle in central Sweden.

What future drilling plans does United Lithium Corp. have for the Bergby Lithium Project?

United Lithium Corp. plans to deepen hole BBY21170 and drill additional holes to explore the pegmatite extensions.