United Lithium Receives Swedish National Interest Designation for Bergby Lithium Project
CSE: ULTH | OTC: ULTHF | FWB: 0ULA
1
United Lithium Receives Swedish National Interest Designation for Bergby
Lithium Project
Vancouver, British Columbia, December 16, 2024 – United Lithium Corp. (“United Lithium” or
the “Company”) (CSE: ULTH; OTCQX: ULTHF; FWB: 0UL) is pleased to announce its Bergby Lithium
Project (“Bergby”) has received a national interest designation in Sweden. This designation makes
Bergby a mineral project of national interest , linked to its potential of providing a future supply
of lithium to Sweden and other parts of Europe. The national interest designation was provided
by the Geological Survey of Sweden (“SGU”). The Bergby area will be protected against measures
that may hinder future mining extraction. The purpose of the designation is to support long-term
planning when it comes to land use and resource management.
“Today’s announcement marks a major milestone in our advancement of the Bergby Lithium
Project,” stated United Lithium’s President and CEO, Scott Eldridge. “ We are very pleased that
SGU decided Bergby meets the requirements to receive the national interest designation as an
area with future mineral deposit importance. Access to key minerals to support the green energy
transition is limited in Europe. Thus, Bergby has the potential to be a very important project to
Sweden and the rest of the E uropean Union and is now protected for that purpose . Sweden has
had a national definition of mineral deposits of national interest since the 1980s. Furthermore,
the country has a long tradition of mining and is currently one of the EU’s leading ore and metal
producing countries. One of the main goals of the strategy is to strengthen Sweden’s position as
one of EU’s leading mining and mineral countries.”
Founded in 1858, the SGU is the government authority responsible for issues relating to bedrock,
soil and groundwater in Sweden, and supervises all mineral deposit activities , including surveys
and extractions. Two advisory bodies lead the SGU: the Advisory Council for Mineral Resources
and the Advisory Council for Minerals Exploration. The SGU is the governing authority of the
Mining Inspectorate, which issues permits for exploration and exploitation of mineral deposits in
Sweden.
DSU Grants
The Company also announces that it has granted an aggregate of 117,721 deferred share units
(each a "DSU") to its independent directors at a deemed price of $0.212 per DSU. The DSUs were
granted in consideration for services rendered by the directors for the quarter ended October
31, 2024. The DSUs were granted in accordance with the Company's Omnibus Incentive Plan
adopted on February 16, 2024. To date, the Company has issued a total of 1 17,721 DSUs to its
independent directors.
About the Bergby Project
Bergby consists of ten exploration licenses covering 7,897 ha located near the coast of the Gulf
of Bothnia in central Sweden. The Project is approximately 200 km north of Stockholm via
highway E4 and 25 km north of the city of Gävle, within an area of significant infrastructure
2
including highway and road access, railway, power, and the port of Norrsundet. Gävle is a
proximal labour and supply hub. Furthermore, Bergby is 570 km south of the new Northvolt
lithium battery gigafactory located in Sweden, and 440 km across the Gulf of Bothnia from Keliber
Lithium’s hydroxide plant currently under construction. The Project now comprises five drill -
confirmed spodumene bearing pegmatites (Pegmatite A to E), with a combined strike length of
more than 4,000 m. There are unexplained spodumene -bearing boulder trains and much of the
property remains unexplored, highlighting the excellent potential at Bergby for further discovery.
On Behalf of The Board of Directors
“Scott Eldridge”
President, Chief Executive Officer and Director
Telephone: +1-604-428-6128
Email: [email protected]
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 https://unitedlithium.com/ or under its
profile on SEDAR+ at www.sedarplus.ca.
Forward-Looking Statements
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 sta tements including, without
limitation, statements with respect to the potential of the Bergby Project; the potential for Bergby
to supply lithium to Sweden and/or other parts of Europe in the future ; the potential for this
national interest designation to support future permitting objectives at Bergby . 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 statem ents 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
3
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; compe tition; 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; operat ing 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 pers onnel, 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. A lthough 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 i ntended. 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 fo rward-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.
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.