Mr. Deepak Varshney reports

USHA RESOURCES DISCOVERS LITHIUM-CESIUM-TANTALUM SYSTEM UP TO 8 KILOMETRES IN STRIKE AT THE WHITE WILLOW LITHIUM PROJECT, CONFIRMS MOBILIZATION OF RIG TO JACKPOT LAKE

Usha Resources Ltd. has discovered a significant lithium-cesium-tantalum (LCT) system at its White Willow lithium pegmatite project. The property is situated 170 kilometres west of Thunder Bay in proximity to other lithium projects in the region, such as the Seymour Lake lithium project, the Georgia Lake pegmatite field and the Separation Rapids Lithium deposit, showcasing the region's rich lithium potential.

The maiden geological work was completed on only approximately 5 per cent of the 15,680-hectare project area, and the company plans on returning in July to complete a more comprehensive field program to build on the findings following the receipt of analytical results.

"We are thrilled with the findings from this initial program at White Willow," said Deepak Varshney, chief executive officer of Usha Resources. "Unlike most companies who have recently acquired properties in Ontario and Quebec with a focus on location, our acquisition of this project was predicated on a technical model that showed that the two initial pegmatites identified were part of a larger unexplored system waiting to be discovered. Having now identified 45 new pegmatites within a zone where spodumene is anticipated to occur and grown the strike and width of the system over 10 and 20 times in size, respectively, we believe Willow to be a flagship asset where we firmly believe Ontario's next major lithium discovery will occur."

The company completed a two-week site visit with its technical team, where it completed a first-pass program comprising sampling pegmatites, mapping and prospecting. Two hundred seventeen rock samples have been collected and submitted for laboratory analysis.

The LCT pegmatite trend at the project has a potential strike length of over eight kilometres as beryl was noted through prospecting across the length of the pegmatite swarm. Approximately three kilometres of strike were mapped in detail, with 45 new pegmatites identified, the largest of which was approximately 350 metres by 70 metres, indicating that a significant LCT system is present at White Willow. The system is open in strike and width.

Beryl and tantalite were identified throughout the system, including a second showing of coarse-grained tantalite approximately 80 metres down strike from the Maple Leaf showing, which has assayed 14.64 per cent tantalum pentoxide (Ta2O5), confirming that the White Willow system is highly evolved. The identification of tantalite throughout the pegmatite swarm is a key finding as coarse-grained tantalite will be present in the most fractionated zone of an LCT system where spodumene, if present, is anticipated to occur.

Coarse-grained tantalite is only known to be found at one other locality in Ontario, which is the North Aubrey pegmatite at Green Technology Metals' (GT1) Seymour Lake project, where GT1 has identified a 9.9-million-tonne resource at 1.04 per cent lithium oxide (Li2O).

In addition, the company has also completed a historical data compilation that also demonstrates the White Willow system is very evolved. The following were the key findings from the review:

• One hundred three samples were identified to contain anomalous lithium (greater than 115 parts per million) of which 45 were very anomalous (greater than 300 parts per million). Six samples assayed above 1,000 parts per million (up to 0.5 per cent) LiO2, further demonstrating the potential for spodumene as lithium contents for muscovite from a spodumene pegmatite is usually greater than 1,000 parts per million. A sample from the host rock was also identified to contain 1,300 parts per million lithium, indicating that a secondary lithium-rich fluid had passed through as the enrichment of the host rock would be due to bleed from the pegmatitic melt as it was injected due to intrusion of the parental granite.
• Eighty-six samples were identified to contain anomalous cesium (greater than 50 parts per million), of which 36 were very anomalous (greater than 115 parts per million) with a high of 1,833 parts per million cesium oxide (Cs2O). The presence of very anomalous cesium indicates that the samples were collected from within the outer zone of a fertile LCT system, which is where spodumene, if present, will be identified.
• Forty-seven samples were identified to contain anomalous tantalum (greater than 30 parts per million), of which six samples were very anomalous (greater than 100 parts per million), including the coarse-grained tantalite that assayed 14.64 per cent Ta2O5 at the Maple Leaf showing.
• Till and lake sediment surveys identified highly anomalous lithium values that are in the 98th percentile of the entire provincial government database.

Jackpot Lake exploration update

The company's technical team has mobilized and arrived on site in preparation for the resumption of drilling at its Jackpot Lake lithium brine project in Nevada.

The objective is to advance each of JP22-01 and JP22-02 to approximately 2,000 feet, thereby potentially greatly expanding on the 99-foot and 273-foot higher-porosity sand and conglomerate zones already identified in each drill hole, respectively, where it believes the best potential brines are present. Sampling these zones is a high priority for the project as the coarse-grained basal units are a primary focus for expansion at Albemarle's Silver Peak mine, the only domestic supplier of lithium within the United States, and at Pure Energy's Clayton Valley project, where a large volume of brine with superior grades has been identified.

The work will build on the recent identification of the highest grades of lithium at the project at JP22-02, where grades as high as 820 parts per million (average 334 parts per million over 30 samples) were identified in shallow soils (less than 500 feet), confirming the soils at the project are highly enriched in lithium and compare very favourably with the reported average of 100 parts per million for the Esmeralda formation, one of the potential sources of the lithium enrichment for the brines present in Clayton Valley, which hosts Albemarle's Silver Peak lithium brine mine.

Qualified person

The technical content of this news release relating to the Jackpot Lake project has been reviewed and approved by Seth Cude, PG, CPG, RM, MSc, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

The technical content of this news release relating to the White Willow project has been reviewed and approved by Andrew Tims, PGeo, a qualified person as defined by NI 43-101.

About Usha Resources Ltd.

Usha Resources is a North American mineral acquisition and exploration company focused on the development of quality battery and precious metal properties that are drill ready with high-upside and expansion potential. Based in Vancouver, B.C., Usha's portfolio of strategic properties provides target-rich diversification and consists of Jackpot Lake, a lithium brine project in Nevada; White Willow, a lithium pegmatite project in Ontario that is the flagship among its growing portfolio of hard-rock lithium assets; and Lost Basin, a gold-copper project in Arizona. Usha trades on the TSX Venture Exchange under the symbol USHA, on the OTCQB Exchange under the symbol USHAF and on the Frankfurt Stock Exchange under the symbol JO0.

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