Usha Announces Amendment to Property Option Agreement and Issuance of Shares
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Usha Announces Amendment to Property Option Agreement and Issuance of Shares
Vancouver, British Columbia / May 5, 2025 – Usha Resources Ltd. (“USHA” or the “Company”)
(TSXV: USHA) (OTCQB: USHAF) (FSE: JO0), a North American mineral acquisition and exploration
company, announces that, further to the Company’s news release of May 1, 2023, wherein the Company
announced the execution of a property option agreement (the “Option Agreement”) with 2758145 Ontario
Ltd. (the “Vendor”) of Atikokan, Ontario, for the right to purchase an undivided 100% interest in five (5)
additional lithium pegmatite projects located in Ontario, it has entered into an amendment agreement (the
“Amendment”) to the Option Agreement with the Vendor with respect to the Triangle Lake Property and
Gathering Lake Property. To date, the Company has paid the Vendor $25,350 cash and issued the Vendor
100,000 common shares (each a “ Share”) of the Company in accordance with the Option Agreement for
the Triangle Lake Property and the Gathering Lake Property.
Pursuant to the Amendment, the parties agreed to amend the payment terms of the Option Agreement
whereby the Company will pay the Vendor $5,000 cash (per property) and 5% of the consideration paid to
the Company if the Company sells the Triangle Lake Property and Gathering Lake Property within one
year from the date of execution of the Amendment. These amended payment terms replace all payment
obligations of the Company under the Option Agreement that have not been paid to the Vendor.
The Company also announces that it has issued 750,000 Shares at a deemed price of $ 0.035 per Share to
Grid Metals Corp. (“ Grid”) of Toronto, Ontario with respect to the Company’s White Willow Lithium
Pegmatite Project located 170 km west of Thunder Bay, Ontario . This issuance of Shares represents the
third anniversary payment owing to Grid and satisfies all terms of the assignment agreement. The Shares
are subject to a hold period of four months from the date of issuance and the Exchange Hold Period.
About Usha Resources Ltd.
Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the
development of quality critical 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 Southern Arm, a copper-gold VMS project in Quebec, 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.
USHA RESOURCES LTD.
For more information , please call 778-899-1780, email [email protected] or visit
www.usharesources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
This news release may include "forward -looking information" under applicable Canadian securities
legislation. Such forward -looking information reflects management's current beliefs and are based on a
number of estimates and/or assumptions made by and information currently available to the Company that,
while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that
may cause the actual results and future events to differ materially from those expressed or implied by such
forward-looking information. Readers are cautioned that such forward -looking information are neither
promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not
limited to, general business, economic, comp etitive, political and social uncertainties, uncertain and
volatile equity and capital markets, lack of available capital, actual results of exploration activities,
environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays
in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature,
involves many risks, requires substantial expenditures, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermore, t he Company currently has no reserves on any of its
properties. As a result, there can be no assurance that such forward -looking statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in suc h
statements.