New Risk • Mar 04
New major risk - Revenue and earnings growth Earnings have declined by 0.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 0.2% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$5.52m market cap, or US$4.04m). Tillkännagivande • Jan 21
Totec Resources Ltd. (TSXV:TOTC.P) completed the acquisition of 240 claims of White Willow Pegmatite Property located in Atikok, Ontario of Usha Resources Ltd. Totec Resources Ltd. (TSXV:TOTC.P) entered into a share purchase agreement to acquire 240 claims of White Willow Pegmatite Property located in Atikok, Ontario of Usha Resources Ltd. on October 22, 2025. As part of consideration, CAD 0.05 million will be paid in cash, 5.5 million common shares of Totec Resources Ltd. to be issued to Usha Resources Ltd. The White Willow Property is subject to net smelter return royalties of 3.0% and 1.5%, portions of which may be purchased for CAD 1.3 million and CAD 1 million respectively.
The transaction is subject to regulatory and TSX Venture Exchange approval, completion of a concurrent financing of at least CAD 1 million, and other customary conditions.
Totec Resources Ltd. (TSXV:TOTC.P) completed the acquisition of 240 claims of White Willow Pegmatite Property located in Atikok, Ontario of Usha Resources Ltd. on January 20, 2026. New Risk • Dec 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). High level of non-cash earnings (26% accrual ratio). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.68m market cap, or US$2.67m). Tillkännagivande • Oct 28
Usha Resources Ltd. announced that it expects to receive CAD 0.5 million in funding Usha Resources Ltd. announced a non-brokered private placement to issue 500 unsecured convertible debentures for gross proceeds of CAD 500,000 on October 27, 2025. Each debenture will have a principal amount of CAD 1,000, a one-year term and be convertible into common shares of the company on the maturity date at a conversion price of CAD 0.05 per share. The debentures will bear an interest rate of 5%, payable semi-annually starting six months from the closing date of the private placement. The transaction is subject to the approval of the TSX Venture Exchange. The debentures will be subject to a four-month and one-day statutory hold period from the date of issuance, in accordance with applicable securities laws. Board Change • Oct 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. Independent Director Leif Smither was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Oct 17
Usha Resources Ltd. Announces Resignation of Ram Kumar as Director, Effective 16 October 2025 Usha Resources Ltd. announced that Ram Kumar has resigned as a director of the Company, effective immediately (16 October 2025). Tillkännagivande • Jul 22
Usha Resources Ltd., Annual General Meeting, Sep 18, 2025 Usha Resources Ltd., Annual General Meeting, Sep 18, 2025. Location: british columbia, vancouver Canada New Risk • Jun 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.4m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$2.69m market cap, or US$1.96m). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). Tillkännagivande • Jun 14
Usha Resources Ltd. Appoints Ram Kumar as A Member of the Board of Directors Usha Resources Ltd. announced the appointment of Ram Kumar as a member of the board of directors (the "Board") of the Company. Mr. Kumar most recently served as a director of M&A at Valsoft Corporation, where he led the full buy- side acquisition lifecycle of vertical market software companies globally. Prior to Valsoft Corporation, Mr. Kumar held investment banking roles in Montreal and New York City at BMO Capital Markets, Lazard, and DNA Capital, advising both public and private clients on a broad range of M&A and capital markets transactions across the industrials, power & utilities, consumer retail, media, and technology sectors. He began his career in private equity at Novacap Management, one of Canada's leading investment firms. Mr. Kumar holds a Bachelor of Commerce in Honours Finance from the John Molson School of Business at Concordia University. New Risk • Mar 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.4m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 37% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$4.04m market cap, or US$2.78m). Tillkännagivande • Dec 04
Usha Resources Announces Initiation of Induced Polarization Survey At the Drill Ready Southern Arm Copper-Gold VMS Property Usha Resources Ltd. announced that fieldwork has commenced for an Induced Polarization (IP) survey at its Southern Arm polymetallic VMS property in the metal-rich northwest Abitibi subprovince of mining-friendly Quebec. The Company has entered into an option agreement to earn 100% of Southern Arm over 2 years from Abitibi Metals Corp. Val d'Or based geophysical contractor Geophysique TMC is conducting the IP survey, which will be focused on the Hollywood trend of metal anomalies, and the results from the IP survey will be used to help refine diamond drill targets for the Company's upcoming maiden drill program, which is planned for the 2024-2025 winter season. In the northwest Abitibi subprovince, mineral occurrences are associated with felsic volcanic rocks and regional-scale synvolcanic faults. The synvolcanic Bapst Fault (Faure, 2011) transects the Southern Arm property, and within this area, the sparse historic drill logs record felsic volcanic stratigraphy, alteration assemblages and widespread metal anomalies that are prospective for polymetallic VMS formation, within a similar geologic setting as the neighbouring historic Selbaie mine. These results have not been followed up due to the Property's till cover, however the use of TMC's IP will allow Usha to identify chargeability and resistivity contrasts associated with massive or disseminated sulphides down to a depth of 350+ metres. The results of this 3D survey will be used to establish high priority targets for Usha's planned 3,000 metre maiden drill program commencing winter 2024 - 2025. The IP survey is being ran in conjunction with a surface biogeochemical sampling survey, that will establish a geochemical baseline for future exploration. Located in the prolific Abitibi greenstone belt, Southern Arm hosts an approximately 7.3-kilometre conductive copper-gold trend along the regional-scale Bapst fault. The bedrock geology of the Property is dominated by the volcanic rocks of the Brouillan-Fenelon group, which hosts the nearby Selbaie mine (approximately 15 kilometres (km) southwest), which produced 53 million tonnes (Mt) at 0.96 per cent copper (Cu), 1.9 per cent zinc (Zn), 0.58 grams per tonne (g/t) gold (Au), 40.7 g/t silver (Ag) and Abitibi Metals's B26 deposit (approximately 16 km southwest) which hosts an indicated resource of 11.32 Mt at 2.13 per cent copper equivalent (CuEq; 1.23 per cent Cu, 1.27 per cent Zn, 0.46 g/t Au and 31.9 g/t Ag). Tillkännagivande • Nov 14
Usha Resources Ltd. Announces Completion of Phase 1 Fieldwork at the Southern Arm Copper-Gold VMS Property Usha Resources Ltd. announced that it has completed a biogeochemical black spruce bark sampling survey at its Southern Arm polymetallic VMS property in the metal-rich northwest Abitibi subprovince of mining-friendly Quebec. The Company has entered into an option agreement to earn 100% of Southern Arm over 2 years from Abitibi Metals Corp. Highlights: 710 black spruce bark samples were collected on a grid centred on the 7.3 km conductive trend along the regional-scale Bapst fault, which is associated with Zn, Pb Ag, Mo and Cu occurrences, as well as geology and alteration prospective for polymetallic VMS-style mineralization. The Company intends on completing an induced polarization survey shortly before proceeding with a planned 3,000 metre maiden winter drill program. The Property is situated in a region famous for its endowment in precious and base metals. Notable nearby projects include: ~16 km from B26 deposit, which hosts an indicated resource of 6.97 Mt at 1.32 % Cu, 1.89% Zn, 0.60 g/t Au & 43 g/t Ag and inferred resource of 4.41 Mt at 2.03% Cu, 0.22% Zn, 1.07 g/t Au & 9 g/t Ag ~15 km from historic Selbaie mine, which produced 53 Mt at 0.96% Cu, 1.9% Zn, 0.58 g/t Au, 40.7 g/t Ag Bedrock geology and regional mineral occurrences associated with the synvolcanic Brouillan Complex, Geology after SIGEOM, 2024. In the northwest Abitibi subprovince, mineral occurrences are associated with felsic volcanic rocks and regional-scale synvolcanic faults. The synvolcanic Bapst Fault (Faure, 2011) transects the Southern Arm property, and within this area, the sparse historic drill logs record felsic volcanic stratigraphy, alteration assemblages and widespread metal anomalies that are prospective for polymetallic VMS formation, within a similar geologic setting as the neighbouring historic Selbaie mine. These results have not been followed up due to the Property's till cover, however the use of biogeochemical sampling will allow for the identification of geochemical anomalies in the underlying bedrock and help to establish high priority targets for Usha's upcoming 3,000 metre drill program commencing winter 2024-2025. Biogeochemical surveys are exploration techniques that excel at testing for buried mineralization not exposed at the surface by sampling and analyzing whole or selected parts of plants. Black spruce bark sampling, in particular, has proven to be an effective method in the region, identifying metal anomalies associated with gold and copper mineralization on adjacent properties in the Abitibi where there is little to no outcrop exposure (Wallbridge Resources, Gaillard, 2021; Midland Exploration, St-Cyr, 2021; Probe Gold News Release June 29, 2024). Usha Resources contracted mineral exploration specialists SL Exploration to complete the fieldwork, and the current program collected 710 black spruce bark samples on a grid designed to cover a 7.3 km trend of the Bapst Fault. SL Exploration is a Quebec-based consulting company that specializes in surface geochemistry exploration techniques used to identify buried mineral deposits and has successfully identified multiple soil discoveries in the James Bay and Abitibi regions. Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Adrian Smith was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Aug 09
Usha Resources Ltd. Makes Discovery at the White Willow Project, Prepares for Drilling at the Southern Arm Copper-Gold VMS Property Usha Resources Ltd. announced that it has discovered spodumene at its White Willow Lithium Pegmatite Project. With over 10 priority drill targets identified, the Company is now in a position to complete its maiden drill program or partner with a Company similarly to its decision with the Jackpot Lake Lithium Brine Project, where it has been paid $75,000 by Stardust Power Inc. (MC $600 Million) for exclusivity pursuant to the LOI granting the right to earn up to a 90% interest subject to a 2% Net Smelter Royalty for total consideration that could total up to $26,025,000 over five years inclusive of payments comprising $1,525,000 cash, $750,000 stock, $15,750,000 stock or cash at Stardust Power's election, and a work commitment of ($8 Million). The Company's focus for this fall will be on its recently optioned Southern Arm project, where it has begun preparations for drilling and will shortly commence a biogeochemical survey to identify additional priority targets prospective for high-grade gold and copper mineralization that will be included in the Company's maiden drill program. Located in the prolific Abitibi Greenstone Belt, Southern Arm hosts a 7.3 km conductive copper-gold trend along the regional-scale Bapst fault within the volcanic rocks of the Brouillan-Fenelon Group, which hosts the nearby Selbaie Mine (15 km SW), which produced 53 Mt at 0.96% Cu, 1.9% Zn, 0.58 g/t Au, 40.7 g/t Ag, and Abitibi's B26 Deposit (16 km SW) which hosts an indicated resource of 6.97 at 2.94% Cu Eq (1.32% Cu, 1.80% Zn, 0.60 g/t Au and 43 g/t Ag). Southern Arm is prospective for polymetallic VMS-style mineralization and has multiple drill targets already identified including "Hollywood" where anomalous metals values have been identified over a 1.8 km footprint that is open along strike. The milestone discovery of spodumene in the Maple Leaf pegmatite validates the Company's thesis that it has developed over the past 15 months, successfully expanding the project from its initial roots with a single high-grade tantalite showing (up to 14.6% Ta2O5) to a spodumene-bearing LCT pegmatite field with a strike length of 44 km . The Bingo pegmatite swarm, 23 km west of the newly discovered spodumene at the Maple Leaf dyke, is host to beryl and Nb-Ta oxides and has also returned geochemical characteristics suggestive of spodumene-type degrees of fractionation in whole-rock, muscovite and K-feldspar grab samples. The highly fractionated Bingo and Maple Leaf pegmatite groups are separated by prospective ground comprising metasedimentary rocks of the Quetico subprovince, of which an area of only 10% has been explored. Spodumene was identified using Fourier-Transform Infra-Red spectroscopy for mineral identification (FTIR-MIN), a proprietary technique offered by ALS laboratories, which confirmed the source of lithium anomalies to be fine-grained spodumene not visible in hand sample. FTIR-MIN is a powerful analytical technique that can be used to identify and characterize minerals in a rapid and cost-effective manner. In FTIR-MIN, a sample is illuminated with infrared radiation, and the minerals within the sample absorb certain frequencies of light that are characteristic of its chemical composition and crystal structure. A machine-learning algorithm then compares these absorption spectra to a database of thousands of samples to quantify the mineralogy of the sample. In the case of the Maple Leaf pegmatite, spodumene was identified in two samples. Tillkännagivande • Aug 01
Usha Resources Ltd Commences Fieldwork at the Drill-Ready Southern Arm Copper-Gold VMS Property Usha Resources Ltd. announced that it has begun preparations to complete a biogeochemical survey at its Southern Arm property . The Company has entered into an option agreement to earn 100% of Southern Arm over 2 years from Abitibi Metals Corp. (AMQ.CN, see news release dated July 17, 2024). Located in the prolific Abitibi Greenstone Belt, Southern Arm hosts a ~7.3 km conductive copper-gold trend along the regional-scale Bapst fault within the volcanic rocks of the Brouillan-Fenelon Group, which hosts the nearby Selbaie Mine (~15 km SW), which produced 53 Mt at 0.96% Cu, 1.9% Zn, 0.58 g/t Au, 40.7 g/t Ag, and Abitibi's B26 Deposit (~16 km SW) which hosts an indicated resource of 6.97 at 2.94% Cu Eq (1.32% Cu, 1.80% Zn, 0.60 g/t Au and 43 g/t Ag). The Property is prospective for polymetallic VMS-style mineralization and has multiple drill targets already identified including "Hollywood" where anomalous metals values have been identified over a ~1.8 km footprint that is open along strike. Biogeochemical surveys are exploration techniques that excel at testing for buried mineralization not exposed at the surface by sampling and analyzing whole or selected parts of plants. As plants grow, metals and ions dissolved in the soil and groundwater are incorporated by the plant and migrate to the various parts (roots, truck, stem, bark, leaves), and thus, the plants attain a chemistry reflective of the underlying bedrock. By sampling these biological materials along a systematic grid, Usha plans to identify areas most rich in metals or elements that indicate the most likely areas to host gold or copper mineralization. Biogeochemical surveys have proven to be an effective method in identifying metal anomalies associated with gold and copper mineralization on adjacent properties in the Abitibi, where there is little to no outcrop exposure (Wallbridge Resources, Gaillard, 2021; Midland Exploration, St-Cyr, 2021; Probe Gold News Release June 29, 2024). The details of the sampling for the Company's planned program (tree species, sampled material, etc.) are yet to be finalized, but the survey will be centered over the Hollywood trend of metal anomalies, which is underlain by the synvolcanic Bapst fault. In addition to this survey, Usha intends to utilize ground-based geophysics to refine target horizons within the mineralized trend. Tillkännagivande • Jul 09
Usha Resources Ltd., Annual General Meeting, Sep 04, 2024 Usha Resources Ltd., Annual General Meeting, Sep 04, 2024. Location: british columbia, vancouver Canada New Risk • Apr 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 59% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.1m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 65% per year over the past 5 years. Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$8.26m market cap, or US$6.01m). Tillkännagivande • Mar 26
Usha Resources Ltd. Commences Phase Four Program at the White Willow Lithium Pegmatite Project Usha Resources Ltd. provided this update on its on-going field program at the White Willow Lithium Pegmatite Project located 170 km west of Thunder Bay, Ontario. Phase 4 of fieldwork at the Project has commenced with the goal of further defining its drill-ready "Maple Leaf" and "Bingo" LCT dykes prior to commencing its maiden drill program in the Spring. In total, 10 target pegmatites have been identified across 19 weeks of fieldwork at the Project. Most recently, the Company completed Phase 3 in January where in 10 weeks it collected and submitted a total of 727 grab samples from pegmatites and their host rocks for laboratory analysis as part of detailed mapping and prospecting to identify geochemical anomalies associated with lithium mineralization not visible at surface. The Company will shortly release the results of Phase 3 following final compilation and interpretation. Phase 4 was initiated immediately based on its preliminary review of assay data from Phase 3 as milder winter conditions permitted early access to the Project. Quality Assurance/Quality Control: All collected rock samples were put in sturdy plastic bags, tagged, and sealed at site. Sample bags were then put in rice bags and kept securely before being sent by road transport or delivered by the crew supervisor to either AGAT Laboratories Ltd. or Activation Laboratories in Thunder Bay, Ontario. All samples are analyzed with Four-Acid Digestion/Combined ICP-AES/MS package (49 elements). The QA/QC protocol included the insertion and monitoring of appropriate reference materials, in this case high concentration and low concentration certified OREAS and CDN lithium standards to validate the accuracy and precision of the assay results. New Risk • Mar 03
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$4.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.1m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 65% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.54m market cap, or US$2.61m). Tillkännagivande • Feb 21
Usha Resources Ltd. Provides Update on Its On-Going Field Program At the White Willow Lithium Pegmatite Project Located 170 Km West of Thunder Bay, Ontario Usha Resources Ltd. provided this update on its on-going field program at the White Willow Lithium Pegmatite Project ("White Willow" or the "Project") located 170 km west of Thunder Bay, Ontario. The Company has completed 10 weeks of fieldwork as part of Phase 3. The focus of the program was to advance the Bingo lithium-cesium-tantalum ("LCT") pegmatite swarm to a drill-ready stage and further assess the Maple Leaf LCT pegmatite swarm. A total of 727 grab samples were collected from pegmatites and their host rocks and submitted for laboratory analysis as part of detailed mapping and prospecting to identify geochemical anomalies associated with lithium mineralization not visible at surface. The existing 25 km strike length of fractionated pegmatites has been extended ~2 km further to the west (Fig. 1), where preliminary results at Bingo have returned some of the most evolved chemical signatures on the property. K/Rb~20; Nb/Ta <1; 4,100ppm Rb; and 954 ppm Cs. Detailed sampling and hand stripping have successfully identified beryl and Nb-Ta oxides over an ~2 km strike length. Fractionation indicators suggest the dykes have reached spodumene-type degrees of fractionation. Preliminary results show lithium (Li), cesium (Cs), and rubidium (Rb) elevations in the metasedimentary host rocks around the beryl-type pegmatites with up to 450 ppm Li were returned in the metasedimentary rocks adjacent to the largest of the beryl-type dykes. Lithogeochemical sampling of pegmatite host rocks is one of the most common techniques to test for buried spodumene mineralization. Pegmatites leave a recognizable chemical halo in the surrounding country rocks, and this halo is reflective of the chemistry of the pegmatite. By sampling the country rocks in a systematic grid, Usha plans to identify the areas of the Bingo pegmatite swarm that have the highest chance of hosting spodumene. The preliminary results have returned up to 450 ppm Li along the margins of beryl- and tantalum-bearing pegmatites, suggesting that the evolved pegmatites are part of a lithium enriched system. The Bingo pegmatites display many textural similarities with spodumene-bearing pegmatites in Ontario, most notably a strong planar fabric and albitization of coarse K-feldspars. Beryl is present as light green to white euhedral crystals (up to 7cm long) along ~2km of the exposed strike length. The white colour of beryl indicates a high Cs content and suggests crystallization in a highly evolved pegmatitei. Nb-Ta oxides (up to 1 cm long) are also present throughout the mapped strike length of the dyke and their presence was confirmed using electron dispersive spectrometry (EDS). Apatite is common as bright blue equant crystals up to 5mm in width. The white beryl and the Nb-Ta oxides are locally associated with the partial to complete replacement of coarse K-feldspars by albite. To-date, the Company has delineated 10 high-priority drill targets with K/Rb ratios below 30. K/Rb is a key tool in identifying potentially spodumene-bearing dykes. Values below 30 are indicative of rare-earth pegmatites and 20 of spodumene-subtype pegmatites. Pegmatite dykes from Phase 3 that contain positive indicator minerals (beryl or Nb-Ta oxides), prospective fractionation indicators, or are situated in areas of anomalous Li, Cs or Rb haloes will be followed up with more detailed prospecting, outcrop exposing, and will ultimately be a part of the Company's maiden 4,000 metre drill program anticipated to commence in Spring 2024 that will test these new and previously identified targets for the first time. All collected rock samples were put in sturdy plastic bags, tagged, and sealed at site. Sample bags were then put in rice bags and kept securely before being sent by road transport or delivered by the crew supervisor to either AGAT Laboratories Ltd. or Activation Laboratories in Thunder Bay, Ontario. All samples are analyzed with Four-Acid Digestion/Combined ICP-AES/MS package (49 elements). The QA/QC protocol included the insertion and monitoring of appropriate reference materials, in this case high concentration and low concentration certified OREAS and CDN lithium standards to validate the accuracy and precision of the assay results. The technical content of this news release has been reviewed and approved by Mr. Andrew Tims, P.Geo., a qualified person as defined by National Instrument 43-101. Tillkännagivande • Dec 29
Usha Resources Ltd. announced that it has received CAD 0.1 million in funding Usha Resources Ltd. announced a non-brokered private placement of 1,000,000 flow-through shares at a price of CAD 0.10 per flow-through share for gross proceeds of CAD 100,000 on December 28, 2023. The company paid no finder’s fees in connection with the private placement. The transaction included participation from a single shareholder. 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. The transaction is subject to the final approval of the TSX Venture Exchange. New Risk • Nov 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 65% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 73% per year over the past 5 years. Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$4.35m market cap, or US$3.18m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Tillkännagivande • Oct 21
Usha Resources Ltd. announced that it has received CAD 0.25 million in funding Usha Resources Ltd.announced a non-brokered private placement that it has issued up to 1,785,714 flow-through shares at a price of CAD 0.14 per share for the aggregate gross proceeds of CAD 249,999.96? on October 20, 2023. The Flow-through 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 December 31, 2023. The company paid finders' fees in the amount of CAD 17,500 and issued 125,000 non-transferable finders' warrants. Each finder's warrant is exercisable at CAD 0.20 per common share for a period of two years from the date of closing of the private placement. 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 February 18, 2024. Tillkännagivande • Oct 18
Usha Resources Ltd. Updates on Its On-Going Field Program At the White Willow Lithium Pegmatite Project Located 170 Km West of Thunder Bay, Ontario Usha Resources Ltd. provided this update on its on-going field program at the White Willow Lithium Pegmatite Project located 170 km west of Thunder Bay, Ontario. The Company has completed 5 weeks of fieldwork this season, with data compilation complete for 618 samples that have delineated 10 high-priority drill targets for its planned maiden drill program. The focus of the third phase of fieldwork will be to complete a detailed follow-up of the targets at Bingo and Maple Leaf and to further prospect and assess the ground between these two lithium-cesium-tantalum (LCT) pegmatite swarms. Two (2) teams will be deployed onsite for up to six (6) weeks, one at each swarm, to maximize the mapping, sampling and prospecting that can be completed prior to initiating drilling. The Company is presently compiling the remainder of the assays collected from the earlier fieldwork and will release them upon completion. A key mineralogical finding to-date is the identification of holmquistite within the host rock at Bingo. Holmquistite is a mineral alteration that typically occurs on the margins of lithium-rich pegmatites and suggests that the dykes at Bingo have a strong potential to be spodumene-bearing. Assay highlights to-date include: Lithium oxide (Li2O) values up to 0.5%, with 76 samples containing very anomalous (>300 ppm) concentrations of lithium, including 14 above >1,000 ppm with a sample of the host rock which assayed 1,300 ppm indicating significant lithium-rich fluids are present within the system. Cesium (Cs) values up to 1,730 ppm, with 71 samples containing very anomalous (>100 ppm) concentrations including 10 which are >500 ppm, indicating the samples are being collected from the outer zone of a fertile LCT system, which is where spodumene, if present, will be identified. · Tantalum (ta) values up to 120,000 ppm Ta, with 82 samples containing very anomalous (>30 ppm) concentrations including 35 which are >60 ppm, indicative of the presence of a spodumene-bearing pegmatite. Of note, a high-grade showing of 14.64% Ta2O5 is present at the Maple Leaf Dyke; 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 Mt resource at 1.04% Li2O. Rubidium values of up to 3,540 ppm, with 94 samples containing very anomalous (>1,000 ppm) concentrations including 24 >2,000 ppm. Geochemical assessment also indicates the strong potential for spodumene-bearing dykes to be present at the property. Per Selway et al., potassium/rubidium ratios (K/Rb), are a key tool in identifying these types of dykes; K/Rb ratios of <30 are indicative of rare-earth pegmatites and <20 of spodumene-subtype pegmatites. To-date, 10 pegmatites have been identified with K/Rb ratios <30 with a low of 7.5. Values below 10 are often associated with economic spodumene pegmatites. Tillkännagivande • Sep 15
Usha Resources Ltd. Identifies Ten Key Drill Targets Across 25 Kilometre Strike At the White Willow Lithium Pegmatite Project Usha Resources Ltd. provided this update on its on-going field program at the White Willow Lithium Pegmatite Project located 170 km west of Thunder Bay, Ontario. The Company has completed 5 weeks of fieldwork this season, with data compilation complete for 618 samples. Assay highlights include: Lithium oxide (Li2O) values up to 0.5%, with 76 samples containing very anomalous (>300 ppm) concentrations of lithium, including 14 above >1,000 ppm with a sample of the host rock which assayed 1,300 ppm indicating significant lithium-rich fluids are present within the system. Cesium (Cs) values up to 1,730 ppm, with 71 samples containing very anomalous (>100 ppm) concentrations including 10 which are >500 ppm, indicating the samples are being collected from the outer zone of a fertile LCT system, which is where spodumene, if present, will be identified. Tantalum (ta) values up to 120,000 ppm Ta, with 82 samples containing very anomalous (>30 ppm) concentrations including 35 which are >60 ppm, indicative of the presence of a spodumene-bearing pegmatite. K/Rb ratios of <30 are indicative of rare-earth pegmatites and <20 of spodumene-subtype pegmatites. To-date, 10 pegmatites have been identified with K/Rb ratios <30 with a low of 7.5. values below 10 are often associated with economic spodumene pegmatites. Each of these pegmatites are planned to be drilled as part of the maiden drill program scheduled to commence in First Quarter of 2024. The Company will return to Site in October to complete additional prospecting and mapping after which it will proceed with geophysical surveys to outline structures prior to commencing the drill program. Tillkännagivande • Aug 05
Usha Resources Ltd. Discovers Second Lithium-Cesium-Tantalum Pegmatite Swarm at the White Willow Lithium Project Usha Resources Ltd. announced that it has discovered a second significant lithium-cesium-tantalum pegmatite dyke swarm, ‘Bingo’, at its White Willow Lithium Pegmatite Project (‘White Willow’ or the ‘Project’). The findings build on the initial visit completed in June and have over tripled the LCT pegmatite trend on the property to a potential strike length of >25 km that is open at both ends. 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 Company completed a three (3) week site visit with its technical team where it split its program between further assessing the area in the vicinity of the Maple Leaf Dyke Swarm, which has a strike of >8 km, and the newly identified Bingo Dyke Swarm. 287 rock samples were collected and submitted for laboratory analysis. Key findings at Bingo include: The swarm is over ~2 km in length and open in both directions. There are 2 large pegmatites within the field that are on trend with one another. The pegmatites outcrop 600 and 450 metres in length, respectively, and are up to 75 metres in width. If connected, they would form a single large dyke over 1.2 km in length. Excellent geochemical indicators based on the limited data received so far indicating that the dyke swarm is highly evolved, with K/Rb ratios below 25 and ore-grade tantalum (248 ppm) with a Nb/Ta ratio of 0.41. Excellent mineralogical indicators indicating that the dyke swarm is highly evolved and potentially spodumene-bearing, with spessartine garnets, blue-green apatite, tantalite and lithium amphiboles (holmquistite) identified. Beryl was not identified, indicating that the zone being assessed is within the core/intermediate/inner zone of a fertile LCT-system which is where spodumene, if present, is anticipated to occur. Feldspar crystals up to a metre have been identified indicating the potential for coarse-grained spodumene, if present, to exist at Bingo. Usage of a LIBS (laser-induced breakdown spectroscopy) analyzer on samples indicated lithium values within Bingo up to 6,000 ppm (1.3% Li2O) and 3,000 ppm (0.65% Li2O) within the host rock. The latter is of particular note as the introduction of lithium within the host rock is a result of enriched lithium-bearing fluids being introduced into the system and strong evidence for the system to be very enriched in lithium if confirmed by assays. A LIBS analyzer is a portable device that provides semi-quantitative assessments of geochemical concentrations in real-time. These readings should not be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. LIBS readings are not representative of the whole core and represent purely a concentration measured at a single point. Jackpot Lake Exploration Update The Company is also pleased to announce that it has expanded the basal sand and conglomerate zone to a depth of approximately 1,950 feet through drilling, increasing the previously identified zone from an interval of 273 feet to a total of 423 feet. Assessing this zone is a primary objective of the program at Jackpot Lake as it is a potentially pumpable aquifer into which fluids from the zones above should drain. Coarse-grained basal units are a primary focus for expansion at Albemarle's Silver Peak lithium brine mine[i], the only domestic supplier of lithium within the United States, and at Pure Energy's Clayton Valley project, where it identified a large volume of brine with superior grades. The Company is now working towards completing and developing a well for sampling. Tillkännagivande • Jun 29
Usha Resources Ltd. Begins Drilling and 43-101 Resource Estimation At the Jackpot Lake Lithium Brine Project Usha Resources Ltd. announced that drilling has commenced for the third hole (‘JP23-02’) at the 100%-owned Jackpot Lake Lithium Brine Property (‘Project’) located in Clark County, Nevada. Drill hole JP23-01 will be drilled immediately upon hole development and initial sampling of JP23-02. JP23-01 and JP23-02 are twinning JP22-01 and JP22-02, respectively, conducted to better maintain hole integrity as each hole advances to its planned 2,000 feet. The Company also announced that it has begun preliminary work on its 43-101 resource estimate. The goal of the drill program will be to build on the findings of its initial drilling which supports that the Jackpot Lake is a similar geologic setting to that of Clayton Valley, hosting Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America. Key findings of the program to-date include: Soils at the Project are enriched in lithium at a level comparable to Clayton Valley. Enriched lithium is present within the holes advanced, with an average of 334 ppm and high of 820 ppm Li in thirty samples collected from shallow surface soils (<500 ft) within JP22-02. These results compare very favourably to the reported average of 100 ppm 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, the only producing lithium operation in the United States. A geologic system is present similar to that of Clayton Valley. Significant evaporitic crystallization, indicative of a brine-forming environment, is present throughout the holes advanced, with JP22-02 containing an interval of 146 feet of massive to bedded evaporites with clay and sand interbeds and cross cutting laminations. The evaporites sit atop a large zone of higher-porosity sand and conglomerate, with at least 273 feet of a potentially pumpable aquifer present within JP22-02 into which fluids from the zones above should drain. Coarse-grained basal units are a primary focus for expansion at Albemarle's Silver Peak lithium brine mine, the only domestic supplier of lithium within the United States, and at Pure Energy's Clayton Valley project, where it identified a large volume of brine with superior grades. The stratigraphy at the Site supports a 43-101 resource. Similar stratigraphy has been encountered in JP22-02 as that in drill hole JP22-01, suggesting that the favourable stratigraphy identified in drilling is present throughout the basin as the two holes are 2.75 km apart. Identifying these similarities, especially in the basal conglomerates and evaporites, is a key finding that continues to support that Dry Lake, within which Jackpot is hosted, is a similar geologic setting to that of Clayton Valley. A primary objective will be to advance each of JP23-01 and JP23-02 to 2,000 feet, thereby potentially greatly expanding on the 99-foot and 273-foot higher-porosity zones already identified where the Company believes the best potential brines are present. Pending sample results, the Company would then proceed with either further drilling or completion of its maiden resource estimate, the completion of which would enable it to join the ranks of a select few companies in the United States. Tillkännagivande • Jun 14
Usha Resources Ltd. 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 (‘White Willow’ or the ‘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% 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. The Company completed a two (2) week site visit with its technical team where it completed a first-pass program comprised of sampling pegmatites, mapping, and prospecting. 217 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 was 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% 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 Mt resource at 1.04% Li2O. In addition to the above, 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: 103 samples were identified to contain anomalous lithium (>115ppm) of which 45 were very anomalous (>300ppm). 6 samples assayed above 1,000 ppm, up to 0.5% LiO2, further demonstrating the potential for spodumene as Li contents for muscovite from a spodumene pegmatite is usually >1000 ppmi. A sample from the host rock was also identified to contain 1,300 ppm 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. 86 samples were identified to contain anomalous cesium (>50ppm) of which 36 were very anomalous (>115ppm) with a high of 1,833 ppm 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. 47 samples were identified to contain anomalous tantalum (>30ppm) of which 6 samples were very anomalous (>100ppm) including the coarse-grained tantalite that assayed 14.64% Ta2O5 at the Maple Leaf Showing. untill and lake sediment surveys identified highly anomalous lithium values that are in the 98th percentile of the entire provincial government database. The Company is also pleased to announce that its technical team has mobilized and arrived onsite 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 U.S., 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 ppm (average 334 ppm over 30 samples) were identified in shallow soils (less than 500 ft), confirming the soils at the project are highly enriched in lithium and compare very favourably with the reported average of 100 ppm 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. Tillkännagivande • Jun 08
Usha Resources Ltd. Discovers Evolved Lithium-Cesium-Tantalum System At the Gathering Lake Lithium Pegmatite Project Usha Resources Ltd. announced that it has confirmed the presence of a fertile lithium-cesium-tantalum ("LCT") system at its Gathering Lake Lithium Pegmatite Project (the "Project") located within the Thunder Bay Mining District, Ontario. Highlights: The Company has mobilized its technical team onsite for a two (2) week visit. The Project is recognized as being highly prospective for the discovery of new LCT-pegmatites as it has never been subject to systematic exploration and drilling using modern exploration techniques. The Company has identified beryl and tantalum within pegmatites within the limited exploration completed to-date during this visit, confirming the presence of an evolved lithium-cesium-Tantalum ("LCT) system. The identification of beryl and tantalum is a key finding that confirms that the Gathering Lake Project has a highly evolved LCT-system. As tantalum in particular is present in more evolved phases within an LCT-system, this indicates that the system could contain spodumene, the key lithium-bearing mineral in pegmatites. This is the third project the Company has optioned where it has confirmed a potential spodumene-bearing system. An evolved LCT-system was confirmed to be present recently through the identification of beryl-pegmatites on its initial site visit at the Company's Mead Project, and the White Willow Project is documented to have a high-grade coarse-grained tantalite showing with 14.64% Ta2O5, mineralization which 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 Mt resource at 1.04% Li2O. The project was recently optioned for $12,000 and 50,000 shares and the Company has the right to earn 100% through a total payment of $69,500 and 412,500 shares over 3 years. Tillkännagivande • May 19
Usha Resources Ltd. Announces Resumption of Drilling At the Jackpot Lake Lithium Brine Project, Commences Multiple Exploration Programs Across Ontario Lithium Pegmatite Portfolio Usha Resources Ltd. announced the resumption of drilling activities at its Jackpot Lake Lithium Brine Project ("Jackpot Lake") and the commencement of exploration at each of its six (6) lithium pegmatite projects in Ontario. Highlights: Drilling is anticipated to commence on or about June 1, 2023, with a larger, more powerful drill rig that should allow each of JP22-01 and JP22-02 to be developed and sampled to 2,000 feet in an expanded borehole, something that was not possible using the previous rig. The Company is advancing these holes as part of its fully financed maiden drill program with the goal of delivering a 43-101 resource estimate. The Company presently has a working capital of approximately CAD 3 million inclusive of drilling costs for JP22-01 and JP 22-02. Drilling to 2,000 feet should allow the Company to greatly expand on the 99-foot and 273-foot intervals of the higher-porosity sand and conglomerate zones where it believes the best potential brines are present. Sampling this zone is a high priority for the project as the coarse-grained basal units are a primary focus for expansion at Albemarle's Silver Peak Lithium Brine Minei, the only domestic supplier of lithium within the US, and at Pure Energy's Clayton Valley Project, where they identified a large volume of brine with superior gradesii. 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 ppm were identified in shallow soils (<500 ft). With an average of 334 ppm Li in the thirty samples collected, these results confirmed that the soils at Jackpot Lake are highly enriched in lithium. The highest lithium assay results are over four times the reported historical average and compare very favourably to the reported average of 100 ppm 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. Tillkännagivande • Feb 15
Usha Resources Ltd. Begins Second Drill Hole At the Jackpot Lake Lithium Brine Project Usha Resources Ltd. announced the company has now commenced drilling its second hole (JP22-2) at its Jackpot Lake Lithium Brine Property (Project) located in Clark County, Nevada, having successfully completed drill hole JP22-1. JP22-2, located approximately 2.75 kilometres north-northwest of JP22-1, will target the "north lobe" of the Dry Lake Basin along Line 5 of the controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT). Target depth for JP22-2 will be bedrock to a maximum of 610 metres with a goal of further examining and corroborating the basin geometry with a specific focus on higher porosity zones comprised of sand and conglomerate that should contain the greatest porosity within the basin aquifer and serve as a pumpable zone into which the fluids above can drain. The CSAMT survey has defined a strong conductive anomaly that comprises the entirety of the Company's claim block (2,800 acres; 11.3 km2) and is open in all directions for expansion. The target is shallow, predominantly above bedrock depths of 600 metres, and is approximately 450 metres thick. The total basin within which the target is situated is estimated to be approximately 10,900 acres. The first hole of the drill program, JP22-1, was completed to a total depth of 1,723 feet or 525 metres below grade along Line 2 of the CSAMT survey confirming: Support for a similar geologic setting to that of Clayton Valley, hosting Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America; Lithium is present in JP22-1 at a grade of up to 300 ppm within ten samples collected from shallow surface soils (<442 ft). The Project target was originally identified based on historical geophysical studies and 129 core samples collected by the USGS with an average lithium value of 175 ppm; Evaporitic crystallization, indicative of a brine-forming environment, extended to the top of the basal conglomerate, with interbedding, veining and inclusions increasing significantly beginning at a depth of 1,250 feet (381 metres). Interbedded zones included up to 90% evaporites; A higher porosity zone comprised of sand and conglomerate with evaporite crystallization was identified beginning at 1,629 feet that continued on to the bottom of the hole at 1,723 feet or 525 metres. Reaching this sand-conglomerate zone was a high priority for the program as it should contain the greatest porosity within the basin aquifer and serve as a pumpable zone into which the fluids above can drain. As per the Preliminary Economic Assessment (PEA) completed by Pure Energy Minerals for their Clayton Valley project, their sand and conglomerate zone was identified to contain a large volume of brine with superior grades; Static water was present at approximately 146 feet. The total water column at the Project is anticipated to be greater than 1,577 feet or 481 metres. Tillkännagivande • Feb 08
Usha Resources Ltd. Completes First Scoping Drill Hole at the Jackpot Lake Lithium Brine Project; Supports Clayton Valley Style Model and Lithium-Bearing Brine Potential Usha Resources Ltd. announced that it has successfully completed hole JP22-1 at the Jackpot Lake Lithium Brine Property ("Project"). The Company will now proceed with drilling its second hole and sampling JP22--1. USHA's 2023 drill program marks the first drill testing of the Jackpot Lake Project which is hosted within a basin estimated to be 10,900 acres and 625 metres deep. Most notably, the hole terminated in a higher porosity zone of sand and conglomerate. Reaching this sand-conglomerate zone was a high priority for the program as it should contain the porosity within the basin aquifer and serve as a pumpable zone into which the fluids above can drain. As per the Preliminary Economic Assessment (PEA) completed by Pure Energy Minerals for their Clayton Valley project, their sand and conglomerate zone was identified to contain a large volume of brine with superior grades. Tillkännagivande • Dec 10
Usha Resources Ltd. Identifies Evaporite Crystals as Drilling At the Jackpot Lake Lithium Brine Project Now Fully Underway Usha Resources Ltd. announced that drilling is successfully underway at its Jackpot Lake Lithium Brine Property . The drill is now at the 250 metre level and its exploration team has encountered multiple zones of evaporite crystals as interbeds, veining, and inclusions and sandy and gravel zones at depth. The presence of evaporite crystals supports the presence of a brine forming environment as crystallization of evaporites would not occur in a freshwater system, while the sandy and gravel intervals are zones of high porosity that are targets for pumping tests for future resource evaluation. Based on the evidence gathered during drilling and evaluation of the Jackpot Lake system, the Company believes that accumulation of eroded materials from of the surrounding mountain ranges and repeated evaporation events have continued over a geologic time scale in this closed basin system, which is a primary mechanism of brine concentration. Considering the elevated lithium concentrations identified in historic soil samples, such events could theoretically concentrate lithium as rainwater passes through these materials, developing enriched brines at depths. The information obtained through the exploration program to-date indicates that the basin setting and accumulation of minerals is similar to the geologic setting for Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America, where sediments from lithium-rich surrounding source rocks have accumulated and filled the deposit leading to a concentration of lithium brine due to successive evaporation and concentration events. Tillkännagivande • Dec 02
Usha Resources Ltd. Announces Arrival of Drill Rig to the Jackpot Lake Lithium Brine Project Usha Resources Ltd. announced that drill contractor Harris Exploration has joined USHA's technical team onsite, preparing the drilling rig and related equipment for the start of the Jackpot Lake Lithium Brine Project drill program. Construction of access roads and primary drill pads are also underway. Highlights: The Company has permitted 2,700 metres over six holes and intends to commence its maiden drill program with the goal of defining a 43-101 resource. The Project target has a geologic setting similar to that of Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America, and was identified based on geophysical studies and 129 core samples collected by the USGS with an average lithium value of 175 ppm with a high of 550 ppm. The present average grade for Albemarle's project is approximately 121 ppm. Modelling indicates that the Project target comprises the entirety of the Company's claim block (2,800 acres; 11.3 km2) and is open in all directions for expansion. The target is shallow, predominantly above bedrock depths of 625 meters, and is approximately 450 metres thick. The total basin within which the target is situated is estimated to be approximately 10,900 acres. Harris Exploration will carry out the drilling operations, having now mobilized one drill rig onto the Property. Harris Exploration has over 60 years of successful drill exploration experience with particular expertise drilling in Nevada specifically for Clayton Valley-style lithium brines and in lithium brine testing. The Project's Qualified Professional (QP) is Michael Rosko, a professional geologist with over 30 years of experience, with extensive experience with world-class lithium brine projects including Tier 1 projects such as Galaxy's Sal de Vida Deposit, Millennial Lithium's Pasto Grandes Deposit, and Lithium America Corp.'s Cauchari-Olaroz Deposit. USHA's drill program will mark the first drill testing of this property. USHA will be highlighting individual target areas and keeping investors informed as key milestones are reached throughout the campaign, expected to last 8 -10 weeks. The Jackpot Lake Lithium Brine Property is located within Clark County, 35 kilometres northeast of Las Vegas, Nevada, and is comprised of 140 mineral claims that total 2,800 acres (approximately 11.3 km2). USHA's geologic setting is similar to that of Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America, which has operated continuously since 1966, where sediments from lithium-rich surrounding source rocks accumulate and fill the deposit leading to a potential concentration of lithium brine due to successive evaporation and concentration events. With its goal of sourcing a new domestic supply of lithium, USHA's six-hole, 2,700-metre program will focus on prospective targets that geophysical surveying suggests are highly concentrated brines located relatively near the surface. The project target comprises the entirety of the Company's claim block and is an approximately 11.3 km2 anomaly, open in all directions for expansion, that has been identified based on the following work that suggests the presence of a highly concentrated brine with the potential to contain lithium: 129 core samples collected by the USGS with an average lithium value of 175 ppm with a high of 550 ppm and spectrographic and atomic-absorption analyses of 135 stream sediment samples confirming the potential for lithium mineral deposits. The present average grade for Albemarle's project is approximately 121 ppm. Gravitational surveying which has identified a closed basin, critical for ensuring brines remain within the basin without dilution from external water sources. Geophysical modelling based upon gravitational and controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT) surveys has provided evidence of highly concentrated brines which are relatively near the surface. The CSAMT survey results of the Jackpot Lake Project demonstrate a large consistent body of very low resistivity - consistent with highly concentrated brine behavior - throughout the property, predominantly above bedrock depths of 625 meters. Tillkännagivande • Nov 22
Usha Resources Ltd. Announces Completion of Site Visit by Drill Contractor At the Jackpot Lake Lithium Brine Project Usha Resources Ltd. announced that Harris Exploration, the drill contractor, has completed a site visit to review drill locations and has informed the Company that they will shortly mobilize their drill rig and commence construction of access roads and drill pads in preparation for the start of drilling for the Company's near- term drill program at its Jackpot Lake lithium brine project (the "Project") in Nevada. The Company has permitted 2,700 metres over 6 holes with the goal of defining a 43-101 resource through drilling the geophysical target at Jackpot Lake where historical work suggests the presence of a highly concentrated brine. The Project's geologic model is similar to that of Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America, which has operated continuously since 1966, where sediments from lithium-rich surrounding source rocks accumulate and fill the deposit leading to a potential concentration of lithium brine due to successive evaporation and concentration events. The Jackpot Lake Lithium Brine Property is located within Clark County, 35 kilometres northeast of Las Vegas, Nevada, and is comprised of 140 mineral claims that total 2,800 acres (approximately 11.3 km2). The geologic model is similar to that of Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America, which has operated continuously since 1966, where sediments from lithium-rich surrounding source rocks accumulate and fill the deposit leading to a potential concentration of lithium brine due to successive evaporation and concentration events. The Company has permitted 2,700 metres over 6 holes and intends on commencing its maiden drill program with the goal of defining a 43-101 resource. The project target comprises the entirety of the Company's claim block and is an approximately 11.3 km2 anomaly, open in all directions for expansion, that has been identified based on the following work that suggests the presence of a highly concentrated brine with the potential to contain lithium: 129 core samples collected by the USGS with an average lithium value of 175 ppm with a high of 550 ppm and spectrographic and atomic-absorption analyses of 135 stream sediment samples confirming the potential for lithium mineral deposits. The present average grade for Albemarle's project is approximately 121 ppm. Gravitational surveying which has identified a closed basin, critical for ensuring brines remain within the basin without dilution from external water sources. Geophysical modelling based upon gravitational and controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT) surveys has provided evidence of highly concentrated brines which are relatively near the surface. The CSAMT survey results of the JackpotLake Project demonstrate a large consistent body of very low resistivity consistent with highly concentrated brine behavior throughout the property, predominantly above bedrock depths of 625 meters. Tillkännagivande • Nov 11
Usha Resources Ltd. Begins Exploration Work At the Jackpot Lake Lithium Brine Project Usha Resources Ltd. announced that its technical team has mobilized and arrived onsite in preparation for the start of drilling for its near-term drill program at its Jackpot Lake lithium brine project (the "Project") in Nevada. Harris Exploration, the drill contractor, will mobilize shortly to begin construction of access roads and drill pads in preparation for drilling. The Jackpot Lake Lithium Brine Property is located within Clark County, 35 kilometres northeast of Las Vegas, Nevada, and is comprised of 140 mineral claims that total 2,800 acres (approximately 11.3 km2). The geologic model is similar to that of Albemarle's Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America, which has operated continuously since 1966, where sediments from lithium-rich surrounding source rocks accumulate and fill the deposit leading to a potential concentration of lithium brine due to successive evaporation and concentration events. The Company has permitted 2,700 metres over 6 holes and intends on commencing its maiden drill program with the goal of defining a 43-101 resource. The project target is an approximately 5 x 2 kilometre anomaly identified based on the following work that suggests the presence of a highly concentrated brine: 129 core samples collected by the USGS with an average lithium value of 175 ppm with a high of 550 ppm and spectrographic and atomic-absorption analyses of 135 stream sediment samples confirming the potential for lithium mineral deposits. The present average grade for Albemarle's project is approximately 121 ppm. Gravitational surveying which has identified a closed basin, critical for ensuring brines remain within the basin without dilution from external water sources. Geophysical modelling based upon gravitational and controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT) surveys has provided evidence of highly concentrated brines which are relatively near the surface. The CSAMT survey results of the Jackpot Lake Project demonstrate a large consistent body of very low resistivity - consistent with highly concentrated brine behavior - throughout the property, predominantly above bedrock depths of 625 meters. Tillkännagivande • Sep 27
Usha Resources Ltd., Annual General Meeting, Dec 16, 2022 Usha Resources Ltd., Annual General Meeting, Dec 16, 2022. Tillkännagivande • Sep 13
Usha Resources Receives Approval of Notice of Intent to Drill Jackpot Lake Nevada Lithium Brine Project Usha Resources Ltd. announced that it has received a letter of approval under a "Notice of Intent" ("NOI") from the United States Bureau of Land Management (BLM) for USHA's near term drill program at its Jackpot Lake lithium brine project. A US$45,985 bond has now been submitted to the BLM to cover reclamation of up to 1.27 acres of permitted disturbance. The NOI covers a 6-hole, 2,700-metre program with a maximum depth of approximately 600 metres and focuses on the most prospective lithium brine targets as defined by geophysical work, in addition to drill road access and site preparation. USHA is in the final stages of preparing for the upcoming drill program and will provide updates in the coming weeks as the project moves towards drill mobilization. The Jackpot Lake Lithium Brine Property is located within Clark County, 35 kilometres northeast of Las Vegas, Nevada, and is comprised of 140 mineral claims that total 2,800 acres. The project is exploring a "playa" which appears to be within a closed basin that may contain potentially lithium-rich brines. The geologic model is similar to that of Albemarle's Silver Peak Nevada Lithium Mine which has operated continuously since 1966, where sediments from lithium-rich surrounding source rocks accumulate and fill the deposit leading to a potential concentration of lithium brine due to successive evaporation and concentration events. The Company has permitted 2,700 metres over 6 holes and intends on commencing its maiden drill program this fall with the goal of defining a 43-101 resource. USHA's current and ongoing program at Jackpot Lake is operated by Rangefront Mining Service, a local Nevadafirm with personnel that specialize in the planning and execution of lithium brine exploration, including resource estimation. The project is considered to be "drill-ready" based on the following work which has successfully delineated a 5 x 2 kilometre anomaly within a closed basin that suggests the presence of a highly concentrated brine: 129 core samples collected by the USGS with an average lithium value of 175 ppm with a high of 550 ppm and spectrographic and atomic-absorption analyses of 135 stream sediment samples confirming the potential for lithium mineral deposits. Gravitational surveying which has identified a closed basin, critical for ensuring brines remain within the basin without dilution from external water sources. Geophysical modelling based upon gravitational and controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT) surveys has provided evidence of highly concentrated brines which are relatively near the surface. The CSAMT survey results of the Jackpot Lake Project demonstrate a large consistent body of very low resistivity - consistent with highly concentrated brine behavior - throughout the property, predominantly above bedrock depths of 625 meters. Topographic map of the Jackpot Lake Lithium Brine Project with MT survey results overlain. Resistivities of <2.7 ohm-metres are interpreted to be potentially higher concentration brines and between 2.7 and 5.0 ohm-metres to be potentially moderate concentration brines. Tillkännagivande • Jun 23
Usha Resources Ltd. Initiates Expanded Exploration Program At Jackpot Lake Lithium Brine Project Usha Resources Ltd. announced that it has begun exploration work at its Jackpot Lake Lithium Brine Project in Clark County, Nevada. The Company has contracted Rangefront Mining Services to provide geological services and now plans to increase the scope of its maiden drilling program. The Company announced that a site visit has been completed at the Jackpot Lake Lithium Brine project and that permitting for its maiden drilling program is underway. The purpose of the visit was to assess the Site to review drill sites for the construction of access roads and drill pads in preparation for drilling. Rangefront Mining Services (Rangefront), a local Nevada firm, has been selected to provide geological services for the design, execution, and management of exploration work at Jackpot Lake. Rangefront is a comprehensive geology and mining consulting firm with personnel that specialize in the planning and execution of lithium brine exploration, including resource estimation, as the Company works towards its goal of completing a 43-101 resource estimate by Fourth Quarter of 2022. Tillkännagivande • Jun 16
Usha Resources Ltd. announced that it has received CAD 2.895401 million in funding On June 15, 2022, Usha Resources Ltd. closed the transaction. The company has issued 4,512,007 units at a price of CAD 0.30 per Unit for total gross proceeds of CAD 1,353,602 in its fourth and final tranche closing. In total, the company has raised gross proceeds of CAD 2,895,401 in all four tranches. The company paid finders' fees of CAD 7,920 cash and 26,400 non-transferable finder warrants to PI Financial Corp., CAD 1,800 cash and 6,000 finder's warrants to Leede Jones Gable Inc., and CAD 4,208.02 cash and 14,027 finder's warrants to Research Capital Corporation. The finder's warrants are exercisable on the same terms as the warrants issued in the transaction and were issued in accordance with applicable securities laws and exchange policy. All securities issued in the fourth tranche of the transaction are subject to the Exchange hold period, plus a hold period of four months and one day following the closing dates of the transaction expiring on October 15, 2022. The transaction was oversubscribed. Tillkännagivande • Apr 05
Usha Resources Ltd. announced that it expects to receive CAD 0.3 million in funding Usha Resources Ltd. announced a non brokered private placement of 1,000,000 units at a price of CAD 0.3 per unit for the gross proceeds of up to CAD 300,000 on April 4, 2022. Each unit will consist of one common share in the capital of the company and one-half transferable share purchase warrant. Each whole warrant will be exercisable at CAD 0.45 per share for a period of two years from the date of closing. The transaction is subject to the approval of the TSX Venture Exchange
On the same date, the company issued 769,333 units for gross proceeds of CAD 230,800 in its first tranche. All securities issued in the first tranche are subject to hold period of four months and one day following the closing date, expiring on August 2, 2022. The company paid a finder's fee of CAD 14,766 and issued 49,220 non-transferable finders' warrants to PI Financial Corp. and Canaccord Genuity Corp. The finders' warrants are exercisable on the same terms as the warrants issued in the transaction. Tillkännagivande • Dec 22
Usha Resources Ltd. announced that it has received CAD 1.024301 million in funding On December 21, 2021, Usha Resources Ltd. closed the transaction. The company issued 3,414,335 units in the transaction for gross proceeds of CAD 1,024,300.40. The company paid finders' fees totalling CAD 43,421.01 cash and 144,737 non-transferable finder warrants to PI Financial Corp., Haywood Securities Inc. and Raymond James Ltd. The company issued 446,667 in its second and final tranche. The company received $35,030 (CAD 44,999.538) pursuant to exemption provided under Regulation D from a single investor. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. Recent Insider Transactions Derivative • Dec 11
Director exercised options to buy CA$118k worth of stock. On the 6th of December, Navin Varshney exercised options to buy 364k shares at a strike price of around CA$0.23, costing a total of CA$83k. This transaction amounted to 18% of their direct individual holding at the time of the trade. Since June 2021, Navin's direct individual holding has increased from 1.54m shares to 2.08m. Company insiders have collectively bought CA$331k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Sep 23
Director recently bought CA$65k worth of stock On the 16th of September, Navin Varshney bought around 216k shares on-market at roughly CA$0.30 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$193k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 29
Director recently bought CA$58k worth of stock On the 27th of August, Navin Varshney bought around 214k shares on-market at roughly CA$0.27 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$79k more in shares than they have sold in the last 12 months. Board Change • Aug 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Leif Smither was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Director Overboarding • Aug 27
Director Adrian Smith has joined 5th company board Director Adrian Smith has been appointed to the board of Usha Resources Ltd. (TSXV:USHA). Smith now sits on a total of 5 company boards. With 5 board positions including the role of CEO at ArcPacific Resources Corp. (TSXV:ACP), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 27
Director Adrian Smith has joined 5th company board Director Adrian Smith has been appointed to the board of Usha Resources Ltd. (TSXV:USHA). Smith now sits on a total of 5 company boards. With 5 board positions including the role of CEO at ArcPacific Resources Corp. (TSXV:ACP), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Executive Departure • Aug 27
Independent Director Brian Moore has left the company On the 25th of August, Brian Moore's tenure as Independent Director ended after 1.3 years in the role. As of June 2021, Brian still personally held only 80.00k shares (CA$16k worth at the time). Brian is the only executive to leave the company over the last 12 months. Tillkännagivande • Jul 16
Usha Resources Ltd. Provides Update on its Fall 2021 Exploration Program at its Lost Basin Project Usha Resources Ltd. provided an update on its Fall 2021 exploration program at the Lost Basin Gold-Copper Project located in Mohave County, Arizona. The company is in receipt of a Notice of Exploratory Trenching that permits the excavation of 10 trenches with an average width of 3 metres and depth of 2 metres for approximately 1,420 metres in total. The trenches will be utilized to channel sample across key mineralized sections on the property including the Copper Blowout - Red Basin area where USHA's spring fieldwork identified the following: Red Basin: Highly anomalous soil samples were identified with 10 samples assaying over 0.2 g/t Au and as high as 11.134 g/t Au. Copper Blowout: 4 chip samples assayed above 1% Cu and as high as 1.53% Cu over 2 m. Mallory's Trench: Chip samples yielded gold values as high as 2.6 g/t Au over 2 m. The program will be completed over a period of four weeks and will also include soil sampling, geologic mapping, and rock sampling of these areas and other areas of interest at Lost Basin, including the Ideas Lode West vein where grab samples assayed as high as 45.4 g/t Au. The primary objective of exploration will be to further develop USHA's understanding of the nature of the gold mineralization at Lost Basin as it continues to develop targets for a follow-up core drilling program in 2021. Tillkännagivande • Jun 10
Usha Resources Ltd. Provides Update on the Exploration Work At the Lost Basin Gold-Copper Project Located in Mohave County, Arizona Usha Resources Ltd. provided an update on the exploration work at the Company’s Lost Basin Gold-Copper Project located in Mohave County, Arizona. Highlights: Exploration work completed over the past six months has identified the potential for a bulk tonnage target with parallels to the deposits at Mineral Ridge in Nevada. Grab samples from the Ideas Lode West assayed as high as 45.4 g/t Au; this structure containing the gold-bearing quartz veining extends for hundreds of metres and is an exciting new prospect at Lost Basin. Highly anomalous soil samples were identified in a new area of interest, the Red Basin, with 10 samples assaying over 0.2 g/t Au and as high as 11.134 g/t Au. 4 chip samples from the Copper Blowout assayed above 1% Cu and as high as 1.53% Cu over 2 m. Chip samples from Mallory’s Trench yielded gold values as high as 2.6 g/t Au over 2 m. Plans under way to trench, detail grid new anomalies and expand soil program to expand on Phase 1 findings in preparation for a fall drilling program. The target areas for sampling and mapping were predominantly in the north and west sections of the property and included trenches, shafts, adits, pits, and in the vicinity of historical RC drilling which identified a 13.7 m interval that averaged 0.69% Cu and a 1.5 m interval which graded 0.8 g/t Au and historical percussion drilling which identified anomalous Au grades as high as 2.27 g/t over a 6 m interval and 1.7 g/t Au over 26 m. Is New 90 Day High Low • Mar 12
New 90-day high: CA$0.26 The company is up 30% from its price of CA$0.20 on 11 December 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is flat over the same period. Is New 90 Day High Low • Feb 18
New 90-day high: CA$0.25 The company is up 25% from its price of CA$0.20 on 19 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 3.0% over the same period. Tillkännagivande • Feb 14
Usha Resources Ltd. Completes Preliminary Reconnaissance Program on the Eden Gold Claims Near Tonopah, Nevada Usha Resources Ltd. announced that the Company has completed its preliminary reconnaissance program on the Eden gold claims near Tonopah, Nevada. The Company has previously announced its interest in acquiring new exploration projects in Nevada and the Golden Triangle, two desirable mining jurisdictions. Since its announcement, the Company has held numerous discussions and has completed 5 days of fieldwork in its evaluation of the gold and silver project. The site visits were conducted by Helgi Sigurgeirson, P.Geo., who is currently running the exploration program for the Company's Lost Basin gold- copper project in Arizona. The Eden gold claims were selected due to the presence of historical reported gold occurrences, prospective geology, and the existence of historical surface and underground workings in the claims and the surrounding areas. The Eden Camp has been worked since the early 1900s. Properties within the camp include the Nevada Triumph, South Gold, Oro Cache, and Old Eden Properties, and the camp is one of several mining camps around the Kawich Range volcanic caldera, including Silverbow, Bellehelen, and Golden Arrow, where Emgold Mining Corporation reported a measured and indicated resource of 12,172,000 tonnes grading 0.024 opt Au and 0.33 opt Ag (296,500 ounces Au and 4,008,000 ounces Ag). The Eden claims include the area of the Old Eden Mine workings, which consist of 2 adits with approximately 1,000 m of underground development and several open cuts. The workings explored a segment of what is believed to the central of 3 vertical zones of mineralization that reportedly cross Little Mill Creek at the north end of the property. Only a small part of one of these mineralized zones has been tested by the underground workings. There is no record or evidence of modern exploration on the claims or within the camp as a whole. Approximately 1,000 metres of historic workings tested a limited section of one of the mineralized zones. Mr. Sigurgeirson reported observing bladed quartz after calcite textures in material taken from the adit dumps which is a classic epithermal texture associated with gold deposition. Zones of silicification and clay alteration were also noted both on the surface and underground and a stope in the upper workings suggests that minable grades were encountered there. As well as the mineralized zone explored in the main workings, a collapsed adit indicated the location of one of the other reported zones of mineralization, and an area of clay alteration and quartz vein float at the north and south ends of the property suggests other zones remain to be found. Upon the satisfactory completion of due diligence and a decision to move forward and executing an agreement to take possession of the claims, the Company will use the conclusions and recommendations of this initial program as the base of the planning for the next phase of a more extensive exploration program comprising a soil survey focusing on generating additional exploration targets, trenching and comprehensive structural/geological mapping, and drilling in due course. Tillkännagivande • Feb 02
Usha Resources Hits Potential Magma Conduit with Mixed Massive Sulphide Nickel Mineralization At the Nicobat Nickel Project Usha Resources Ltd. provided an update on the Nicobat Nickel-Copper-PGE Project ("Nicobat" or the "Property"), located in Dobie Township, Northwest Ontario. The Property is being explored for nickel-copper-platinum-palladium mineralization in the Archean-age calc-alkalic Alaskan-type, zoned and concentric Dobie Ultramafic to Mafic Intrusive. Previous drilling has identified a number of `high-grade shoots' within a large body of disseminated sulphides and historical drill hole A0415 intersected from the surface, down plunge, to 63.75 meters averaging 1.05% nickel and 2.18% copper (note that the true width of A0415 is materially narrower than the drill hole intersection). A total of 1,439 metres of diamond drilling was recently completed in 7 holes, all with NQ diameter core as part of its maiden drill program at the Property. USHA's drilling intersected a potential magma conduit composed of cumulate textured olivine gabbro with disseminated, net-textured to massive sulphide Cu-Ni mineralization. Wide mineralized intervals from 25 metres to 46 metres were intersected and consisted of disseminated blebs to semi-massive sulphides hosting pyrrhotite and pyrite plus chalcopyrite and trace pentlandite. HIGHLIGHTS: Drill hole A20-12 intersected 46 metres (150.9 feet) of disseminated to strongly interconnected sulphides in an olivine cumulate, starting at 64 metres. Where drill hole A0415 drilled subparallel to the plunge of the feeder conduit, all but one of the A20 holes drilled across the conduit confirming its substantial width and exploration potential. The 2020 Nicobat drill program tested 120 m of strike length, the near surface expression, of a 550 metres long plunging magma conduit that exists on the Property. Based on the drilling completed to date, the mineralized conduit unit appears to be plunging to the northeast at -45°. Additional drilling is required to extend the plunge of the mineralized unit and test the potential to host semi-massive to massive Cu-Ni mineralization. Is New 90 Day High Low • Jan 30
New 90-day high: CA$0.24 The company is up 17% from its price of CA$0.21 on 30 October 2020. The Canadian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 3.0% over the same period. Tillkännagivande • Oct 15
Usha Resources Ltd. Announces Commencement of Drilling of its fully funded drilling program at its Nicobat nickel-copper-PGE project located in Dobie Township, Northwest Ontario Usha Resources Ltd. announced the commencement of its fully funded drilling program at its Nicobat nickel-copper-PGE project located in Dobie Township, Northwest Ontario with Asinike Drilling of Naotkamegwanning First Nation as the drilling contractor. The Property lies 21 kilometres south of New Golds' Rainy River Mine in the Rainy River Greenstone Belt that forms the southern part of the Wabigoon Subprovince. The Property covers a lobate arm along the southwest margin of the differentiated Dobie Intrusive complex. The complex hosts a number of sulphide zones with the Nico 1 Showing CuNi mineralization the target of the current work program. Previous drilling has identified a number of `high grade shoots' within a large body of disseminated sulphides. Historical drill hole A0415 intersected from the surface to 63.75 meters averaging of 1.05% nickel and 2.18% copper (note that the true width of A0415 is materially narrower than the drill hole intersection). The initial phase of the exploration program in October will be approximately 6 drill holes totaling an estimated 1,400 m. The drill holes are targeting below the positive results from A0415 and will further define the near-surface geometry of the plunging high-grade mineralization and test for its continuation. Tillkännagivande • Sep 26
Usha Resources Ltd. announced that it expects to receive CAD 0.8 million in funding Usha Resources Ltd. (TSXV:USHA.P) announced a non-brokered private placement of 2,500,000 units at a price of CAD 0.2 per unit for gross proceeds of CAD 500,000 and 1,000,000 flow-through units at a price of CAD 0.3 per unit for gross proceeds of CAD 300,000 for total proceeds of CAD 800,000 on September 17, 2020. Each unit consists of one common share and one-half share purchase warrant. Each whole warrant will be exercisable into one common share at CAD 0.3 per common share for 2 years subject to accelerated equity provision. Each flow through unit consists of one common share and one share purchase warrant. Each flow through warrant will be exercisable into one common share at CAD 0.4 per common share for 2 years subject to accelerated equity provision. The company may pay finder's fee in connection with the transaction. 
