USHA RES LTD - USHAF STOCK NEWS

Usha Resources Ltd. has filed a 43-101 Technical Report on its Nicobat Nickel-Copper-Cobalt Project as part of its spinout plan to transfer the property to Formation Metals Corporation. Shareholders will receive shares in Formation Metals based on their USHA holdings. The Technical Report outlines historical and recent exploration activities confirming high-grade nickel-copper shoots. Approval is needed from USHA shareholders, the Supreme Court of British Columbia, and the TSX Venture Exchange for the spinout to proceed. The project contains significant historical resources and promising exploration targets.

Usha Resources Ltd. (OTCQB: USHAF) has finalized its drilling team for the Jackpot Lake lithium brine project in Nevada, aiming to commence a drill program soon. The program, led by expert geologist Michael Rosko and Harris Exploration Drilling, will focus on defining a maiden resource compliant with 43-101 standards. The Jackpot Lake project consists of 140 mineral claims over 2,800 acres, showing potential for lithium-rich brines based on previous geological assessments. Drilling is expected to begin shortly after Harris' current contract ends.

Usha Resources Ltd. (TSXV:USHA, OTCQB:USHAF) has issued 745,033 common shares at $0.302 each to Ares Strategic Mining Inc. as part of an option agreement for the Jackpot Lake project in Nevada. This payment represents the second milestone payment in a series related to this acquisition. The company is preparing for a maiden drill program aimed at confirming a 43-101 resource and satisfying a $1,000,000 work commitment. The Jackpot Lake Property consists of 2,800 acres and exhibits promising lithium-rich brine potential.

Usha Resources Ltd. (TSXV:USHA, OTCQB:USHAF) has received a Notice of Intent approval from the U.S. Bureau of Land Management for its Jackpot Lake lithium brine project. The approved drill program includes 6 holes and 2,700 meters of drilling aimed at identifying lithium-rich brines.

A US$45,985 bond has been submitted for site reclamation. The project is strategically located near Las Vegas, with existing data suggesting a highly concentrated brine presence. Usha aims to define a 43-101 resource and is gearing up for an active operational season.

Usha Resources Ltd. (TSXV: USHA, OTCQB: USHAF) announces the commencement of exploration at its Jackpot Lake Lithium Brine Project in Clark County, Nevada. The company has contracted Rangefront Mining Services for geological support as it expands its drill program from 900 to 2,700 meters. This initiative aligns with U.S. efforts to secure domestic lithium production for battery manufacturing. The drill program, fully financed through a recent private placement raising $2,895,401, is set to commence in late summer or early fall, pending permits.

Usha Resources Ltd. (TSXV: USHA, OTCQB: USHAF) announced the closing of its final tranche of a non-brokered private placement, raising an additional $1,353,602, bringing total gross proceeds to $2,895,401. The funds will support aggressive exploration at the Jackpot Lake Lithium Brine project, initiate exploration at the Lost Basin Gold-Copper project, and prepare for a spinout of the Nicobat Nickel Project. CEO Deepak Varshney highlighted the strong demand and confidence in the company's projects amid current market conditions.

Usha Resources Ltd. (TSXV: USHA, OTCQB: USHAF) has successfully closed the final tranche of its non-brokered private placement, raising an additional $1,353,602 and totaling $2,895,401 across four tranches. Each unit consists of one common share and one-half warrant, exercisable at $0.45 for two years. The funds will support aggressive exploration of the Jackpot Lake Lithium project and the Lost Basin Gold-Copper project, along with a potential spinout of its Nicobat Nickel Project. CEO Deepak Varshney emphasized strong demand and confidence in the company’s projects.

Usha Resources Ltd. (TSX.V:USHA, OTCQB:USHAF) has successfully closed the third tranche of its oversubscribed non-brokered private placement, raising $430,500 from 1,435,000 units at $0.30 each. This brings total gross proceeds from all tranches to $1,541,000. Each unit consists of one common share and half a warrant, with full warrants priced at $0.45 for two years. Additionally, the company has terminated its acquisition of 1236598 B.C. Ltd., focusing on its current projects, including the Jackpot Lake Lithium Brine Project.

Usha Resources Ltd. (TSXV:USHA, OTCQB:USHAF) has successfully closed the second tranche of its non-brokered private placement, raising $880,499 from the issuance of 2,934,998 units at $0.30 each. This brings total gross proceeds to $1,111,499.40. Each unit comprises a common share and a purchase warrant exercisable at $0.45 for two years. The company paid finders' fees of $22,740 in cash and issued 75,800 finder warrants. An extension to close the final tranche has been granted to June 13, 2022. Usha Resources focuses on battery and precious metal properties in North America.