September 4, 2014 – Ultra Resources Corp. (“Ultra”)(TSX.V-ULT) is pleased to announce it will be conducting further exploration in 2014 at its Buck Lake platinum, palladium, nickel project situated 25 kilometers west of North American Palladium Corp.’s Lac des Iles Mine near Thunder Bay, in Ontario, Canada.
Platinum group metal mineralization at the Buck Lake project occurs in a mafic/ultramafic rock body approximately 5 km by 2 km made of various facies of mafic and ultramafic igneous rocks dominated by gabbro, homblendite, websterite, diorite and heterolithic breccia which are locally intruded by mafic dykes and veins of felsic composition.
Selective rock samples from the mineralized zone exposed by blasting at the Main Showing yielded up to 31.9 g/t palladium, 2.82 g/t platinum, 1.53% copper and 9.96% nickel. The sulphide-rich mineralized zone at the Main Showing is hosted by gabbro-pyroxenite breccia.
Exploration at Buck Lake to-date includes outcrop mapping, soil and rock geochemistry, ground and airborne geophysical surveys, trenching, channel sampling and orientation drilling. Ultra has scheduled exploration to resume at Buck Lake in mid-October 2014 to assist with establishing future diamond drill targets. Ultra recently announced it was acquiring 100% of the Buck Lake Project. The Buck Lake Project is subject to a 2.5% NSR in favor of two prospectors. This news release has been reviewed and approved for technical content by Dr. Bohumil (Boris) Molak, PGeo (BC) a consulting geologist and Qualified Person as defined by National Instrument 43-101.
Ultra’s common shares are listed and called for trading on the TSX Venture Exchange with the trading symbol “ULT”. Information on Ultra can be accessed at www.ultraresourcescorp.com.
ULTRA RESOURCES CORP.
PER: “John Brydle”
John Brydle, Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements