Mr. Deepak Varshney reports

USHA RESOURCES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Subject to the final approval of the TSX Venture Exchange, Usha Resources Ltd. has closed its non-brokered private placement of $100,000 through the issuance of one million flow-through shares at 10 cents per FT share. The FT shares qualify as flow-through shares for purposes of the Income Tax Act (Canada). The company will renounce said expenditures to the investors for the taxation year ending Dec. 31, 2023. The company intends to use the net proceeds from the private placement to incur Canadian exploration expenses on its projects in Ontario prior to Dec. 31, 2023.

No finders' fees were paid in connection with the private placement. The private placement was completed by a single shareholder.

"Having a fortified balance sheet is critical to the success of every company. With over $1.7-million in working capital, Usha is in a position to accelerate our planned drill programs at Jackpot Lake and White Willow," said Deepak Varshney, chief executive officer of Usha Resources. "With work also proceeding on our secondary listing on the Australian Stock Exchange, we believe we have some very significant catalysts coming over the coming months and look forward to providing updates as we progress towards these milestones."

All securities issued are subject to the exchange hold period and a four-month-and-one-day hold period pursuant to securities laws in Canada expiring on April 29, 2024.

About Usha Resources Ltd.

Usha Resources is a North American mineral acquisition and exploration company focused on the development of quality lithium 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 includes Jackpot Lake, a lithium brine project in Nevada, and White Willow, a lithium pegmatite project in Ontario, that is the flagship among its growing portfolio of hard-rock lithium assets. Usha trades on the TSX Venture Exchange under the symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under the symbol JO0.