United Lithium Drill Results Confirm Two New Discoveries at the Bergby Lithium Project Sweden

VANCOUVER, British Columbia, May 23, 2023 (GLOBE NEWSWIRE) -- United Lithium Corp. (“United” or the “Company”) (CSE: ULTH; OTC: ULTHF; FWB: 0ULA) is pleased to announce that it continues to make lithium pegmatite discoveries at the Bergby Lithium Project (“Bergby” or the “Project”). Bergby is a 100% owned, district-scale, hard rock lithium project covering 10,828 hectares (“ha”) near the coast of the Gulf of Bothnia in Central Sweden. The Project area is characterized by LCT (lithium-cesium-tantalum enriched-type) granitic pegmatites. The final set of core assay results from the 2022 drilling campaign have now been received and evaluated. The 2023 drilling program, comprising 4,000 metres (“m”) of core drilling, is ongoing with initial results pending.

Highlights of the 2022 Drilling:

• 1,200 m of total lithium-bearing pegmatite strike length across three mineralized trends on the Project.
• Two new lithium rich pegmatites discovered, notable results include:
  • 1.34% Li₂O over 47.75 m (BBY21069)*
  • 1.1% Li₂O over 11.11 m (BBY21071)
  • 0.91% Li₂O over 13.45 m (BBY21072)
  • 1.21% Li₂O over 8.63m (BBY22075)
• Ongoing 4,000 m drill program with initial assay results pending.
  

*Previously disclosed result

Scott Eldridge, President, CEO stated: “Our drilling and exploration work continues to identify new discoveries at Bergby. The 2022 drill campaign has confirmed that the Project hosts a lithium rich pegmatite field where we continue to explore for and discover new areas of lithium mineralization. The new areas were identified by systematic mapping, sampling and interpretation of abundant boulder trains, a process which has proven to be a very effective exploration methodology.”

“The infrastructure at Bergby is unparalleled, with year-round access to port, rail and power. The Project continues to demonstrate the potential to provide Europe with domestic lithium feedstock in the future. We look forward to unlocking the potential of our Bergby property through additional drilling and exploration work through the summer and fall.”

Drill Campaign Summary:

The 2022 Bergby Drill Program comprised 6,266 m in 61 holes completed between November 2021 and December 2022. Drilling results from this program identified two new lithium pegmatite discoveries (at areas B and C - See Figure 1 below). Lying 750 to 1,200 m northwest and west, respectively, of the original Bergby lithium pegmatite outcrop discovery, which was drilled in 2017 (lithium bearing pegmatite A), the sites were originally identified from boulder mapping and sampling. This further highlights the potential at Bergby for more near surface discoveries. Drilling results to date at Bergby have identified more than 1,200 m of lithium-bearing pegmatite strike length across three mineralized trends on the Project. The Company has yet to test multiple additional lithium-bearing outcrops.

Area B in Figure 1 shows the mineralization first identified in hole BBY21169, which intersected 47.75 m of 1.34% Li₂O from 2.25 m beneath shallow soil cover. The continuity of mineralization is interpreted from this and nearby holes (BBY21071, BBY21073 and BBY21069) that intersected lithium pegmatite at a low angle to dip. True thickness is approximately 10 m. A summary of drill holes intersecting this lithium bearing pegmatite is presented in Table 1. Current drilling is following up on these results and United is drill testing three new areas of outcrop for the first time.

Figure 1: Geology Map showing the location of lithium bearing pegmatites A, B and C as well as drill holes and barren pegmatites.

Area C in Figure 1 shows United’s newly discovered pegmatite outcrop consisting of multiple parallel spodumene- bearing pegmatites. Additional drilling on this target is planned for later in the summer of 2023. Table 1 lists the lithium values in pegmatite at this new discovery area which is part of a package of lithium pegmatites approximately 100 m thick and extending over a strike length of approximately 100 m defined so far.

Table 1: 2022 Assay Results Summary of Mineralized Drill Intercepts

*Note: Holes not included in table had no significant mineralization. Intercepts are down hole lengths and may not represent true widths.

Link 1: PDF - Drill Hole Table

Link 2: PDF - Drill Hole Information

United’s field team log and sample all drill core samples in a secure core facility at the company’s operations building in Norrsundet, about 5 km from the Project area. Core samples are cut in half longitudinally using a diamond cutting saw, and half cores submitted to ALS Ltd. (“ALS”) facilities in Pitea, Sweden for preparation. Certified reference standards and blanks are routinely inserted into the sample stream as part of United Lithium’s quality control/quality assurance program (“QA/QC”). The samples are then forwarded for analysis to the ALS facilities in Loughrea, Ireland, an accredited mineral analytical laboratory (ISO/IEC 17025:2017 and ISO 9001:2015), for analysis using the ME-MS89L technique with analyzes for 53 elements and is appropriate for lithium-mineralized pegmatites.

No QA/QC issues were noted with the results reported herein. The Company’s Qualified Person is of the opinion that the sample preparation, analytical, and security procedures followed are sufficient and reliable. The Company is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data reported herein. All drill intercepts reported are down-hole core lengths.

Qualified Person

The scientific and technical data contained in this news release was reviewed and approved by Robert Schafer, Registered Professional Geologist, Qualified Person as defined by NI 43-101 Standards of Disclosure for Minerals Projects. Mr. Schafer is a Director and Consultant to the Company.

On Behalf of The Board of Directors

“Scott Eldridge”
Chief Executive Officer and Director 

About United Lithium Corp.

United Lithium Corp. (CSE: ULTH) is an exploration & development company energized by the global demand for lithium. The Company is targeting lithium projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development and production opportunities.

The Company’s consolidated financial statements and related management’s discussion and analysis are available on the Company’s website at www.unitedlithium.com or under its profile on SEDAR at www.sedar.com.

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the potential of the Bergby Project; the potential for identification of gold and barite resources at Calico; the potential identification of new mineralization; timing and successful execution of ongoing and future drilling and exploration activities. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; contests over title to properties; changes in project parameters as plans continue to be refined; and impact of the COVID-19 pandemic. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of lithium and other metals and minerals; the demand for lithium and other metals and minerals; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ad8e143e-5cda-408d-81de-54beeed08f8f