Mr. Deepak Varshney reports

USHA RESOURCES MAKES OPTION PAYMENT FOR THE WHITE WILLOW LITHIUM PEGMATITE PROJECT FOLLOWING IDENTIFICATION OF 10 PRIORITY DRILL TARGETS ACROSS STRIKE OF 27 KILOMETRES

Usha Resources Ltd. has made the first anniversary payments for the initial 712 claims comprising the White Willow lithium pegmatite project located 170 kilometres west of Thunder Bay, Ont.

A total of $50,000 and one million shares have been issued to 2758145 Ontario Ltd. (the vendor) and Grid Metals Corp. (the assignor) of Toronto, Ont. The shares will be subject to a hold period of four months and one day from the date of issuance.

"We are very pleased with what has been accomplished in our first year at White Willow," said Deepak Varshney, chief executive officer of Usha Resources. "With a budget of $400,000, we were successful in expanding a small locality of tantalite to a 27-kilometre-plus trend, comparable in size to Patriot Battery Metals' Corvette project. Lithium pegmatite swarms occur in clusters and with over 10 existing primary target areas already identified, we are very excited to advance White Willow in 2024 as we move towards our planned maiden drill program of 4,000 metres. Phase 4 of fieldwork is now under way and we look forward to sharing further updates in the coming weeks and months. The findings thus far strongly validate our belief that Willow is a flagship asset where Ontario's next major lithium discovery will occur."

White Willow project summary

The White Willow lithium pegmatite project is located in the Thunder Bay mining division near Atikokan, Ont., and presents a unique and timely opportunity to capitalize on the rapidly growing lithium metal and green energy markets in Canada.

Spanning over 21,000 hectares across 968 claims, 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 property is confirmed to host a fertile lithium-cesium-tantalum (LCT) system with the presence of two highly evolved LCT-pegmatite dikes, the Maple Leaf and Bingo dikes, across a more than 27 km potential strike, still open at both ends.

Since acquiring the project on March 28, 2023, the company has completed 19 weeks of fieldwork at the project. Phase 4 is presently under way, with the goal of further defining the drill-ready Maple Leaf and Bingo dikes prior to commencing its maiden drill program in the spring. Select highlight results from targets identified to date include up to 0.5 per cent lithium oxide (Li2O) (2,310 parts per million (ppm)), 1,833 ppm cesium, 120,000 ppm tantalum and 4,100 ppm rubidium.

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.

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