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.