United Lithium Corp Intersects Recently Discovered Spodumene-Bearing Pegmatite in 9 Holes

New high grade spodumene bearing pegmatites discovered in BBY21069 which returned 47.75 m (true thickness ~10m) of 1.34 % Li2O, has been intersected in 9 additional holes to date

The pegmatite has been delineated over a strike length of more than 225 m and remains open along strike

Drilling continues on the newly discovered pegmatite zone

VANCOUVER, British Columbia, Jan. 27, 2022 (GLOBE NEWSWIRE) -- United Lithium Corp. (CSE: ULTH; OTC: ULTHF; FWB: 0UL) ("ULTH" or the "Company"), is pleased to announce completion of 9 core drill holes into the recently discovered spodumene bearing pegmatite at the Bergby Lithium project near Gävle in central Sweden. A new spodumene bearing pegmatite was discovered in December 2021, and assays are now available from the discovery hole BBY21069 (as reported January 20, 2022). Drilling continues at 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, that the discovery drillhole BBY21069 intersected the host pegmatite at a low angle to dip and true thickness is approximately 10 metres. The pegmatite has been traced in drillholes for more than 200m, with a likely fault offset between holes BBY21071/BBY21073 and hole BBY22074. Current hole, BBY22078, is testing for the extension of the spodumene bearing pegmatite 50m to the southwest of recently completed hole BBY22077 which provided two intersections of spodumene bearing pegmatite.

This new discovery lies 750 metres northwest of the original Bergby lithium pegmatite discovery drilled in 2017. The target was identified from boulder-hunting and sampling and highlights the potential at Bergby for new, near surface discoveries. The Bergby field has the characteristics of a pegmatite swarm with multiple intrusions, and ULTH's technical team anticipates additional pegmatites will be located.

Hole BBY21170, drilled 50m south of BBY21069, was deepened to test whether the spodumene rich horizon is continuous to the southwest and successfully intersected the pegmatite from 110.55m to 116.50m downhole. A map showing the interpreted surface projection of the spodumene bearing pegmatite with all completed and near term planned drills holes can be viewed as Figure 1. Table 1 provides with all collar locations, azimuths and dips, and well as depth of hole and spodumene bearing pegmatite intersections.

Michael Dehn, President and CEO of the Company stated: "We are quickly understanding the orientation and control of our new pegmatite discovery at the Bergby project, which is delivering a high hit rate for lithium mineralization in our drilling. We now recognize that in places younger faulting has offset the pegmatite and we will be incorporating this factor into our exploration targeting. We look forward to further testing of this discovery and additional targets in 2022."

Figure 1: Completed and near term planned holes on the new spodumene rich pegmatite discovery at the Bergby Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/35983691-f1b7-44d5-8386-2850304b1317

Table 1: Drill holes completed and planned into the newly discovered spodumene rich pegmatite with downhole intersections
https://www.globenewswire.com/NewsRoom/AttachmentNg/c114e7dc-8c5f-4d49-ab11-0a377e02959a

Samples submitted by United Lithium 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
[email protected]

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.