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Usha Resources Advances White Willow Lithium Project with First Anniversary Option Payment

Usha Resources Ltd. (TSXV:USHA)(OTCQB:USHAF)(FSE:JO0) has announced it made the first anniversary option payment for the White Willow Lithium Pegmatite Project. This project, located 170 km west of Thunder Bay, Ontario, covers 141 claims over the western portion.

A total of $20,000 and 200,000 common shares at a deemed price of $0.075 were issued to the vendors, including 2758145 Ontario Ltd., Peter Gehrels, and Allan George Onchulenko. The shares are subject to a four-month hold period plus the TSX Venture Exchange hold period.

“We are very pleased with our first year at White Willow,” said Deepak Varshney, CEO of Usha Resources. “With a $400,000 budget, we expanded a small locality of tantalite to a 44-kilometre-plus trend. We are excited to advance White Willow in 2024 with a planned maiden drill program of 4,000 metres.” Phase 4 of fieldwork is currently underway.

White Willow Project Summary

The White Willow Lithium Pegmatite Project is located in the Thunder Bay Mining Division near Atikokan, Ontario. Spanning over 22,000 hectares, the property is situated close to other significant lithium projects. The property hosts a fertile lithium-cesium-tantalum system with the Maple Leaf and Bingo dikes across a 27 km potential strike.

Since acquiring the project on March 28, 2023, the company completed 19 weeks of fieldwork. Phase 4 aims to further define the drill-ready Maple Leaf and Bingo dikes before the maiden drill program in spring. Highlight results include up to 0.5% Li2O, 1,833 ppm cesium, 120,000 ppm tantalum, and 4,100 ppm rubidium.

About Usha Resources Ltd.

Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on developing high-upside lithium metal properties. Based in Vancouver, BC, Usha’s portfolio includes Jackpot Lake, a lithium brine project in Nevada, and White Willow, a lithium pegmatite project in Ontario. 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.

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