Usha Resources Announces Receipt of Intervention Permit for Upcoming Drill Program at the Southern Arm Copper-Gold VMS Property
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Usha Resources Announces Receipt of Intervention Permit for Upcoming Drill Program at
the Southern Arm Copper-Gold VMS Property
Vancouver, British Columbia / December 16, , 2024 – Usha Resources Ltd. ( “ U S H A ” or the
“Company”) (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0) , a North American mineral acquisition
and exploration company, is pleased to announce that it has been granted an Intervention Permit for Mining
Activities by the Ministere des Resources Naturelles et des Forets (MRNF) at its Southern Arm polymetallic
VMS property (“Southern Arm” or the “Property”), in the northwe st Abitibi subprovince. This document
permits the Company to begin access and drill pad preparations in advance of the company’s planned
maiden drill program in the winter of 2025. The Company has ent ered into an option agreement to earn
100% of Southern Arm over 2 years from Abitibi Metals Corp. (AMQ.CN, see news release dated July 17,
2024).
CEO Deepak Varshney stated: “Receiving this permit is a key milestone as we progress towards our maiden
drill program at Southern Arm. With results of our Phase 1 field program and IP survey anticipated to be
received by end of year, Usha will commence a drill program targeting the highest priority zones early in
2025.”
He continued: “ With negotiations for the Jackpot Lake transacti on continuing, our focus in the field will
remain on Southern Arm. Additionally, we have been evaluating additional opportunities to acquire copper
and/or gold projects to create further shareholder value in a similar fashion. We look forward to providing
shareholders updates as our strategy progresses.”
Project Highlights:
The Property is situated in a region famous for its endowment in precious and base metals (Fig. 1).
Notable nearby projects include:
o ~16 km from B26 deposit, which hosts an indicated resource of 1 1.32 Mt at 1.23 % Cu,
1.27% Zn, 0.46 g/t Au & 31.9 g/t Ag and inferred resource of 7.16 Mt at 1.56% Cu, 0.17%
Zn, 0.87 g/t Au & 7.4 g/t Ag
o ~15 km from historic Selbaie mine, which produced 53 Mt at 0.96% Cu, 1.9% Zn, 0.58 g/t
Au, 40.7 g/t Ag
o ~15 km from the Fenelon Gold Project, which hosts as indicated resource of 2.4 Moz Au
and inferred 1.7 Moz Au
The Property hosts a ~7.3km conduc tive trend along the regional -scale Bapst fault, which is
associated with Zn, Pb Ag, Mo and Cu occurrences , as well as geology and altera tion prospective
for polymetallic VMS-style mineralization
Drill hole targets along this ~7.3 km trendwill be finalized ac cording to the results of the black
spruce bark sampling program ( see News Release dated November 14, 2024) and Induced
Polarization program (IP), which is currently ongoing (See News Release dated December 4, 2024).
Results for both of these surveys are expected by the end of the year.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Figure 1 - Bedrock geology and regional mineral occurrences associated with the synvolcanic Brouillan Complex, Geology after
SIGEOM, 2024.
Located in the prolific Abitibi greenstone belt, Southern Arm h osts an approximately 7.3-kilometre
conductive copper-gold trend along the regional-scale Bapst fault. The bedrock geology of the Property is
dominated by the volcanic rocks of the Brouillan-Fenelon group, which hosts the nearby Selbaie mine (~15
km SW), which produced 53 millio n tonnes (Mt) at 0.96% copper ( Cu), 1.9% zinc (Zn), 0.58 grams per
tonne (g/t) gold (Au), 40.7 g/t silver (Ag) and Abitibi's B26 deposit (~16 km SW) which hosts an indicated
resource of 11.32 Mt at 2.13% copper equivalent (CuEq; 1.23% Cu , 1.27% Zn, 0.46 g/t Au and 31.9 g/t
Ag).
In the northwest Abitibi subprovi nce, mineral occurrences are a ssociated with felsic volcanic rocks and
regional-scale synvolcanic faults (Fig. 1). The synvolcanic Bapst Fault (Faure, 2011) transects the Southern
Arm property, and within this area, the sparse historic drill l ogs record felsic volcanic stratigraphy,
alteration assemblages and widespread metal anomalies that are prospective for polymetallic VMS
formation, within a similar geologic setting as the neighbouring historic Selbaie mine (Fig. 1). These results
have not been followed up due to the Property’s till cover, how ever the application of the induced
polarization survey will allow Usha to identify chargeability a nd resistivity contrasts associated with
massive or disseminated sulphides down to a depth of 350+ m, wh ile the application of black spruce bark
sampling will allow Usha to establish a geochemical baseline fo r future exploration, whereas. The results
of both of these surveys will be interpreted in tandem to estab lish high priority targets for Usha’s planned
3,000 metre maiden drill program commencing winter 2025.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
The Company also wishes to clarify that 319,565 non-transferable finders' warrants were issued in relation
to the flow-through financing completed on September 4, 2024.
Qualified person
The technical content of this news release has been reviewed an d approved by Mr. James Macdonald,
P.Geo., a qualified person as defi ned by National Instrument 43 -101. Historical reports provided by the
optionors were reviewed by the qualified person. The informatio n 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 compan y 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 strategi c 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:
This news release may include "forward-looking in formation" under applicable Canadian securities
legislation. Such forward-looking information re flects 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. Read ers are cautioned that such forwar d-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, competitive, political and social uncertainties, uncertain and
volatile equity and capital markets, lack of availabl e 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 expenditu res, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermo re, the 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 fu ture events could differ materially from those anticipated in such
statements.
References
Gaillard, N. (2021) Assessment Report, Grasset Property, Biogeo chemistry, Summer 2021; Wallbridge
Mining, GM72469, 86pp.
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
St-Cyr, R. (2021) Black Spruce Bark Campaign Report – Adam Proj ect; Midland Exploration, GM72086,
166 pp.
Probe Gold (2024) Probe Metals And Midland Exploration Commence Drilling To Test New High Priority
Targets South Of Fenelon On The Detour Gaudet-Fenelon JV Projec t; Retrieved from <
https://probegold.com/news/probe-metals-and-midland-exploration-commence-drilling-to-test-new-high-
priority-targets-south-of-fenelon-on-the-detour-gaudet-fenelon-jv-project/ > on July, 29, 2024