# Ultra Lithium signs LOI to acquire 100% of the Berland River Brine projects

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/ultra-lithium-signs-loi-to-acquire-100-of-the-berland-river-brine-projects--acf4716a-f69a-443e-bb31-521b914aec10

Original source: https://money.tmx.com/en/quote/ULT/news/24859028/ultra-lithium-signs-loi-to-acquire-100-of-the-berland-river-brine-projects

Publisher: tmx

Original announcement: 2009-09-09T21:12:58.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Ultra Lithium Inc.

- Ticker: ULI

- Exchange: TSX

- Region: Alberta

- Primary commodity: Lithium

- Secondary commodities: None reported

- Document categories: Resource update, Agreement transaction

- Extracted: 2026-09-19 05:12:40 UTC

Narrative sentiment: 0.30 · Bullish

## Minestarters Atlas summary

Ultra Lithium Inc. has signed a letter of intent to acquire a 100% interest in two lithium brine projects in west-central Alberta. The acquisition includes access to historic resource estimates of 2.4 billion lbs of Li2O, though the company notes these estimates are not NI 43-101 compliant and are not considered reliable.

Reasoning: The company has signed an LOI to acquire lithium brine projects with significant historic resource potential, though the data is currently non-compliant and deemed unreliable by the issuer.

- Positive factor: Acquisition of 100% interest in two lithium brine projects

- Positive factor: Presence of highly anomalous lithium concentrations \(>75 mg/l to 140 mg/l\)

- Positive factor: Significant historic resource potential \(2.4 billion lbs Li2O\)

- Negative factor: Historic resource is not NI 43-101 compliant

- Negative factor: Company explicitly states the historic estimate is 'not reliable'

- Negative factor: Acquisition is subject to permit approvals and exchange approval

Facts used in scoring: 1

## Classification and evidence

**agreement\_transaction**

Polarity: neutral

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The document announces a letter of intent to acquire 100% interest in two lithium brine projects.

Evidence · text

> Ultra Lithium Inc. \(TSX-V: ULI\) \(“Ultra" or "the Company"\) wishes to announce it has signed a letter of intent to acquire up to a 100% interest in two lithium brine projects

**Historical Estimate Only**

Polarity: negative

Story-specific tag

Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.

Why it applies: The lithium resource mentioned is based on a 1995 Alberta Research Council report and is explicitly stated as not NI 43-101 compliant.

Evidence · text

> This estimate is not NI 43-101 compliant.

## Extracted facts

Stored fact records: 1. Some facts used in scoring do not have a stored record.

## Resource Estimates (1)

### Fact 1

[Link to this fact](https://atlas-extractions.minestarters.com/news/ultra-lithium-signs-loi-to-acquire-100-of-the-berland-river-brine-projects--acf4716a-f69a-443e-bb31-521b914aec10#fact-resource-facts-0)

Berland River Brine projects · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Berland River Brine projects
- Commodity: lithium
- Region: canada\_ab
- Reported Region: Alberta
- Ticker: ULI

#### Resource scope

- Estimate type: resource
- Resource group id: resource:c7afe1842e27b0ba6c4b

#### Resource Data

- Contained Metal: 2400000000
- Contained Unit: lbs li2o

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 1995-01-01T00:00:00.000Z

#### Dates

- Event date: 2009-09-09T00:00:00.000Z

Reasoning: Large scale historic resource, but lacks modern compliance and issuer confidence.

- Negative factor: Not NI 43-101 compliant

- Negative factor: Issuer deems it unreliable

Evidence · text

> indicates total potential resources of 0.515 x 106 tonnes lithium in formation waters \(or 2.4 billion lbs of LiO2\)

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Estimate**

Polarity: negative

Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 14.7 years before this release

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.