ULI Ultra Lithium Inc

Canadian Orebodies Inc. (TSX VENTURE:CO) ("Orebodies") is pleased to announce
drilling results from the first round of drilling on the Falcon Lithium/Rare
Metals property (the "Property"). The Property is 100% owned by Orebodies
(subject to a 2% NSR retained by the vendor, 50% of which can be purchased by
Orebodies for $1,000,000).


Highlights



--  All three holes drilled on the Falcon Property intersected lithium
    bearing pegmatite.
    
--  Hole# CO-10-001 assayed 1.50% Li2O over 4.0 meters and 1.25% Li2O over
    5.0 meters. 
    
--  Hole# CO-10-003 assayed 1.10% Li2O over 11.0 meters including 1.52% Li2O
    over 6.0 meters. 
    
--  Hole# CO-10-002 assayed 1.07% Li2O over 7.0 meters. 
    
--  Drilling completed on the Tebishogeshik showing on the Zigzag
    Lithium/Rare Metals property.



Falcon Property Overview

The Falcon Lake property consists of 60 claim units and is located in the
general area of Linear Metals Corp. Seymour Lake Lithium/Tantalum/Beryllium
Property, approximately 60 km northeast of Armstrong, Ontario.


Falcon Drilling Overview

There were a total of 3 short holes drilled on the Falcon property totalling 265
metres during Orebodies winter program. Results from this initial program
demonstrate that there is a zone of lithium enrichment which contains anomalous
quantities of rare metals at depth, including tantalum, and verify some of the
historical work completed on the property. Results to date are very encouraging
and warrant additional follow up.


TABLE 1 - HIGHLIGHTED DRILLING ASSAYS FOR FALCON DRILLING



----------------------------------------------------------------------------
Hole #       From     To  Width    Li2O      Be     Cs     Nb      Rb  Ta2O5
              (m)    (m)    (m)     (%)   (ppm)  (ppm)  (ppm)   (ppm)  (ppm)
----------------------------------------------------------------------------
CO-10-001    69.3   83.3   14.0    0.99   145.4  166.0   62.5  2080.7   52.5
----------------------------------------------------------------------------
Including    69.3   74.3    5.0    1.25   214.7  189.8   69.4  2862.0   46.6
----------------------------------------------------------------------------
Including    79.3   83.3    4.0    1.50   128.7  120.1   78.7  1657.5   47.9
----------------------------------------------------------------------------
CO-10-002    55.3   62.3    7.0    1.07   136.4  377.9   46.1  3477.1   68.6
----------------------------------------------------------------------------
CO-10-003    39.4   50.4   11.0    1.10   115.2   83.3   62.5  1377.1   50.0
----------------------------------------------------------------------------
Including    44.4   50.4    6.0    1.52   156.6   84.7   79.9  1670.0   48.5
----------------------------------------------------------------------------



(Widths above are the intercepted widths of the mineralized zone, true widths
are not known at this time.)


Highlights from Orebodies previous work on the Falcon property include the
following (for full results please see Orebodies Press Releases dated March 11
and 18, 2010):




--  Channel #3 on the Falcon Property assayed 1.54% Li2O over 6.98 meters,
    including 2.06% Li2O over 1 meters 
--  Channel #9 on the Falcon Property which assayed 2.63% Li2O over 1.5
    meters, including 3.19% Li2O over 0.56 meters 
--  Individual grab samples which assayed 2.82% Li2O, 2.45% Li2O, 2.30%
    Li2O, 2.26% Li2O 



(Grab samples are selective by nature and are unlikely to represent future
average grades on the property.)


Drilling Completed On Zigzag Property

Orebodies is also pleased to announce that the drilling program announced in
Orebodies press release dated January 10, 2011 on the Tebishogeshik showing of
its Zigzag Lithium/Rare Metals property under option from Ultra Lithium Inc.
(TSX VENTURE:ULI) ("Ultra") has been completed. A total of 8 short holes were
completed totalling 484 metres. The program was designed as a preliminary
orientation program to test the continuity of the lithium and tantalum rich
areas sampled by Orebodies on surface. All holes from this drilling are
currently being logged, cut and sent out for assay with results to be released
when received. Results from this program will be used to assess the potential of
the Tebishogeshik showing and aid in further work programs on the property.


Tantalum Information

Tantalum is a specialty metal which is highly corrosion resistant and has the
highest ability to hold and release electricity. These characteristics make it
essential for electronic devices (tantalum capacitors) and specialty
applications such as jet engines. Several events in the global market have
caused the price of tantalum to increase significantly as of late, mainly the
fact that two of the largest producers have shut down (Tanco deposit in Canada
and Talison Tantalum in Australia) which represents nearly half of the world
market. These shutdowns have led to a global supply that has fallen behind
demand and the market now requires additional production from new projects.


Orebodies Zigzag property is very interesting for the fact that besides high
grade lithium, tantalum could have one of the most considerable economic
benefits as historically there have been a significant amount of samples
collected that demonstrate widespread, high grade results. Breaks (2003) stated
that individual analysis from the Tebishogeshik Lens 3 exceeded 80 wt % Ta2O5
and were amongst the highest documented in lithium-rich pegmatite of Ontario.(i)


(i)(historical in nature and not 43-101 compliant and therefore should not be
relied upon.)


A thorough quality control program is in effect which includes inserting
standards and blanks alternating every 10 samples. All samples were submitted to
ALS and analyzed using four acid digestion and ICP-MS. For more information on
assay methodology please visit the ALS Laboratory Group. Website at
http://www.alsglobal.com.


This press release has been prepared under the supervision of Mr. Don Hains
(P.Geo.), who is an independent consultant to the Company and a "qualified
person" (as such term is defined in National Instrument 43-101). Mr. Hains has
verified the technical data disclosed in this press release.


Forward Looking Information:

This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
mineral resources, potential mineralization, exploration results and the
Company's plans with respect to the exploration and development of the
Properties) are forward-looking statements. These forward-looking statements
reflect the current expectations or beliefs of the Company based on information
currently available to the Company. Forward-looking statements are subject to a
number of risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the forward-looking
statements, and even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected
consequences to, or effects on the Company. Factors that could cause actual
results or events to differ materially from current expectations include, among
other things, changes in commodity prices, changes in equity markets, failure to
establish mineral resources, changes to regulations affecting the Company's
activities, delays in obtaining or failures to obtain required regulatory
approvals, uncertainties relating to the availability and costs of financing
needed in the future, the uncertainties involved in interpreting drilling
results and other ecological data, and the other risks involved in the mineral
exploration and development industry. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events
or results or otherwise. Although the Company believes that the assumptions
inherent in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty
therein.

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