Highlights:

• The Company has completed its Phase 3 program at the White Willow Lithium Pegmatite Project. A total of 727 grab samples were collected as part of detailed mapping and prospecting over 10 weeks.
• The Company has successfully extended the potential strike of the LCT pegmatite trend to approximately >27 km, still open at both ends.
• Fractionation indicators suggest the dykes at Bingo and at Maple Leaf have reached spodumene-type degrees of fractionation.
• The Company intends on drilling newly identified targets from the Phase 3 Program and the 10 existing target pegmatites as part of its maiden drill program in the Spring. Select highlight results from targets identified to-date include up to 0.5% Li₂O (2,310 ppm), 1,833 ppm cesium, 120,000 ppm tantalum and 4,100 ppm rubidium.

VANCOUVER, BC / ACCESSWIRE / February 21, 2024 / Usha Resources Ltd. ("USHA" or the "Company") (TSXV:USHA)(OTCQB:USHAF)(FSE:JO0), a North American mineral acquisition and exploration company, is pleased to provide 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.

"We are thrilled with the findings from the most recent phase of fieldwork at White Willow and are very excited to continue to build on our success," said Deepak Varshney, CEO of Usha Resources. "As seen at Patriot Battery Metals' Corvette Project, which has over 20 kilometres of trend, lithium pegmatite swarms occur in clusters, each of which has the potential to become a deposit. With 10 existing primary target areas already identified across our 27-kilometre-plus trend, we believe Phase 3 will contribute significantly in the identification of additional targets for our planned maiden program of 4,000 metres. The findings thus far strongly validate our belief that Willow is a flagship asset where Ontario's next major lithium discovery will occur."

Mr. Varshney continued: "I am grateful to Jason Wolf, Andrew Tims and James Macdonald and their respective teams for pushing themselves to the limit and working late into the season far past beyond when most teams had quit. Their persistence has been a huge part of why Usha has been successful in the field and we are thankful to have some of the brightest minds in this business working on this project. We look forward to returning to the field as soon as the snow melts and building on the successes of 2023."

Detailed sampling and hand stripping have successfully identified beryl and Nb-Ta oxides over an ~2 km strike length (Fig. 2). 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; Fig. 3a) 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; Fig. 3b) 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 (Fig. 3c, d).