Usha Resources Expands Strike of the White Willow Project to 44 Kilometres, Acquires Abiwin Pegmatite Group - Seite 3

Notes

1. Payable within fifteen (15) days from receipt of approval to the Agreements from the Exchange (the "Approval").
2. Shares of the Company are to be issued at a deemed value based on the Discounted Market Price at the time of issuance.

The Company has granted a 2% net-smelter returns royalty (the "NSR") to the Vendor. The Company may purchase one-half of the net-smelter returns royalty (the "NSR") from the Vendor at any time for consideration of $1,000,000.

The transaction contemplated, including the issuance of the Shares, are subject to the final approval of the Exchange. The Shares will be subject to the applicable hold periods in accordance with securities laws in Canada and the Exchange policies.

The Company is also pleased to announce that it has made the first anniversary payments for the 8 mineral claims ("Nym") that comprise part of the White Willow Project. A total of $20,000 and 150,000 shares have been issued to the Vendors. The shares are subject to a hold period of four months and one day from the date of issuance.

The Company announces that, further to its news release of March 25, 2024, it has issued 15,000,000 common shares of the Company to the vendors of the option agreements entered into on March 23, 2024, with respect to the Bingo East and Bingo West properties. The shares are subject to a hold period of four months and one day from the date of issuance.

Qualified person

The technical content of this news release has been reviewed and approved by Mr. Adrian Smith, P.Geo., a qualified person as defined by National Instrument 43-101. Historical reports provided by the Optionors of the Mineral Claims were reviewed by the qualified person. The information provided has not been verified and is being treated as historic non-compliant intercepts.

About Usha Resources Ltd.

Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality lithium metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Usha's portfolio of strategic properties provides target-rich diversification and includes Jackpot Lake, a lithium brine project in Nevada and White Willow, a lithium pegmatite project in Ontario that is the flagship among its growing portfolio of hard-rock lithium assets. Usha trades on the TSX Venture Exchange under the symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under the symbol JO0.