United Lithium Announces $1.2 Million Private Placement

VANCOUVER, British Columbia, May 06, 2026 (GLOBE NEWSWIRE) -- United Lithium Corp. (“United Lithium” or the “Company”) (CSE: ULTH; OTCQB: ULTHF; FWB: 0UL) announces today that the Company intends to complete a non-brokered private placement (the “Offering“) consisting of up to 8,000,000 units (each, a “Unit”) of the Company at a price of $0.15 per Unit for gross proceeds of up to $1,200,000. 

Each Unit is comprised of one common share (each, a “Share”) and one-half (1/2) common Share purchase warrant (each, a “Warrant”) entitling the holder to acquire one additional Share at a price of $0.20 for a period of twenty-four (24) months.

The Company intends to use the net proceeds raised from the Offering for general working capital purposes and for continued exploration of the Company’s properties. All securities issued in the Offering will be subject to a statutory four-month hold period. Closing of the Offering is subject to receipt of all required regulatory approvals, including approval from the Canadian Securities Exchange (the “CSE”).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On Behalf of The Board of Directors

“Andrew Bowering”

Interim Chief Executive Officer

Telephone: +1-604-428-6128

About United Lithium Corp.

United Lithium is an exploration & development company focused on the global demand for lithium, uranium and rare earth elements. The Company is targeting lithium, uranium and rare earth element projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development, and potential 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 statements, including, without limitation, statements with respect to the Offering, including the total proceeds, intended use of proceeds, receipt of regulatory approvals, and the closing of the Offering. Forward-looking statements are often 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, including the negatives thereof.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience, current conditions and expected developments, as well as other factors management believes to be appropriate in the circumstances. Such statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with mineral exploration and development; metal and mineral prices; availability of capital and financing; changes in market conditions; regulatory approvals; environmental and permitting risks; operational and technical difficulties; title matters; competition; fluctuations in interest and exchange rates; and general economic, market and business conditions.

Although the Company believes the assumptions and expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained herein is made as of the date of this news release, and 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.

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