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Platinum Palladium Mineral Claims Optioned

By April 19, 2016April 25th, 20162015 News Releases, News Release

October 14, 2015 – Ultra Resources Corp. (“Ultra”)(TSX.V-ULT) announces that it has entered into an option agreement to acquire a 100% interest in two groups of mineral claims totaling 77 units known as the NAP Claims and the Jordan Claims.

The NAP Claims and Jordan Claims are adjacent to, or in the vicinity of, Ultra’s Buck Lake Platinum, Palladium and Nickel property where Ultra is exploring for platinum, palladium and nickel mineralization in a mafic/ultramafic intrusive body.

Under the terms of the option agreement, Ultra can acquire a 100% interest in the NAP Claims and Jordan Claims, from two Ontario prospectors, William Richmond and William D. Morehouse, by making cash payments totalling $74,000 over wto years and issuing a total of 80,000 post 3:1 consolidation common shares in two tranches over one year. Mr. Richmond retains a 1% net smelter royalty. The option agreement is subject to acceptance for filing by the TSX Venture Exchange.

The technical content of this news release was reviewed and approved by Dr. Bohumil (Boris) Molak, PhD, P.Geo, the Qualified Person for this project as defined by National Instrument 43-101.


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