Usha Resources Begins Trading on the Frankfurt Stock Exchange as FSE: JO0
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News Release
Usha Resources Begins Trading on the Frankfurt Stock Exchange as FSE: JO0
Vancouver, British Columbia / May 4, 2022 – Usha Resources Ltd. (“USHA” or the “Company”)
(TSXV: USHA) (OTCQB: USHAF) (FSE: JO0), a North American mineral acquisition and exploration
company focused on the development of drill-ready battery and p recious metal projects, is pleased to
announce the listing of its common shares for trading on the Fr ankfurt Stock Exchange (“FSE”) under the
symbol “JO0” with ISIN CA91734F1080 and WKN A3DK8K.
“With the recent acquisition of t he Jackpot Lake Lithium Projec t, three planned drill programs and
mounting investor interest in our Nicobat Nickel Project spin o ut, it makes sense to broaden USHA’s
visibility and connect with a larger, global community of poten tial European institutional and retail
investors,” commented Deepak Varshney, CEO of Usha Resources. “ Anytime we can make it easier and
help facilitate investment in the Company by the European investment community. we’ll take action so that
all shareholders benefit.”
The Frankfurt Stock Exchange is the world’s third-largest organ ized trading market in terms of turnover
and dealing in securities behind the New York Stock Exchange an d NASDAQ. The listing of the
Company’s shares on the FSE marks another step torward creating greater liquidity and increasing
shareholder and overall market awareness for USHA’s drill-ready projects. The Company's common shares
are now cross-listed on the TSX Venture Exchange, OTCQB® and the FSE.
The Jackpot Lake Lithium Project
The Jackpot Lake Lithium Project (“the Property) is located wit hin Clark County, 35 kilometres northeast
of Las Vegas, Nevada, and is comprised of 140 mineral claims th at total 2,800 acres. The project is
exploring a “playa” which appear s to be within a closed basin t hat may contain potentially lithium-rich
brines. The geologic model is similar to that of Albemarle’s Si lver Peak Nevada Lithium Mine which has
operated continuously since 1966, and Iconic Mineral’s Bonnie C laire Project, which recently released a
Preliminary Economic Assessment report (PEA) that indicates 40- year mine with an after-tax NPV 8% of
1.5 billion, where sediments from lithium-rich surrounding sour ce rocks accumulate and fill the deposit
leading to a potential concentration of lithium brine due to successive evaporation and concentration events.
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Figure 1 - Left, location of Jackpot Lake. Right, aerial image of the "playa".
The project is considered to be “drill-ready” based on the following work which has successfully delineated
a 5 x 2 kilometre anomaly within a closed basin that suggests the presence of a highly concentrated brine:
129 core samples collected by the USGS with an average lithium value of 175 ppm with a high of
550 ppm and spectrographic and at omic-absorption analyses of 13 5 stream sediment samples
confirming the potential for lithium mineral deposits.
Gravitational surveying which h as identified a closed basin, cr itical for ensuring brines remain
within the basin without dilution from external water sources.
Geophysical modelling based upon gravitational and controlled s ource audio
magnetotellurics/magnetotellurics (CSAMT/MT) surveys has provid ed evidence of highly
concentrated brines which are relatively near the surface. The CSAMT survey results of the Jackpot
Lake Project demonstrate a large consistent body of very low re sistivity – consistent with highly
concentrated brine behavior – throughout the property, predominantly above bedrock depths of 625
meters.
The CSAMT Survey and report was conducted and prepared by Hasbr ouck Geophysics, who has
extensive experience of both surveying and data processing for brine-bearing basin environments
across the Southwestern United States.
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Figure 2- Left, gravitational surveying outlined the footprint of the Jackpot lithium brine anomaly. Right, CSMAT survey slices
showing a cross-section of the anomaly illustrating the highly enriched brines throughout the property in red.
Based on the above, the Company intends on completing an aggres sive exploration program by drilling
both shallow and deep holes to test the targets outlined by the CSAMT Survey at possible higher
concentration brine zones with the goal of completing a 43-101 resource estimate by Q4 of 2022.
Qualified Person
The technical content of this news release has been reviewed an d approved by Mr. Helgi Sigurgeirson,
P.Geo., a qualified person as defined by National Instrument 43 -101 Standards of Disclosure for Mineral
Projects (“NI 43-101”).
About Usha Resources Ltd.
Usha Resources Ltd. is a North American mineral acquisition and exploration compan y focused on the
development of quality battery and precious metal properties th at are drill-ready with high-upside and
expansion potential. Based in Vancouver, BC, Usha’s portfolio o f strategic properties provides target-rich
diversification and consist of Jackpot Lake, a lithium project in Nevada; Nicobat, a nickel-copper-cobalt
project in Ontario; and Lost Basin, a gold-copper project in Ar izona. Usha trades on the TSX Venture
Exchange under the symbol USHA, the OTCQB Exchange under the sy mbol USHAF and the Frankfurt
Stock Exchange under the symbol JO0.
We seek Safe Harbor.
USHA RESOURCES LTD.
“Deepak Varshney” CEO and Director
For more information, please phon e Tyler Muir, Investor Relatio ns at 1 (888) 772-2452, email
[email protected], or visit www.usharesources.com.
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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.