Usha Resources Commences Phase Four Program at the White Willow Lithium Pegmatite Project
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Usha Resources Commences Phase Four Program at the White Willow Lithium Pegmatite
Project
Highlights:
The Company has commenced its fourth phase of fieldwork at the White Willow Lithium Pegmatite
Project with the goal of further defining its drill-ready “Maple Leaf” and “Bingo” LCT dykes prior
to commencing its maiden drill program in the Spring.
Phase 3 was completed in January. A total of 727 grab samples w ere collected as part of detailed
mapping and prospecting over 10 weeks that successfully extended the potential strike of the LCT
pegmatite trend to approximately >27 km, still open at both end s. Assays results will be released
shortly following final compilation and interpretation.
Fractionation indicators suggest the dykes at Bingo and at Mapl e Leaf have reached spodumene-
type degrees of fractionation.
Select highlight results from targets identified to-date include up to 0.5% Li2O (2,310 ppm), 1,833
ppm cesium, 120,000 ppm tantalum and 4,100 ppm rubidium.
Vancouver, British Columbia / March 25, 2024 – Usha Resources Ltd. (“USHA” or the “Company”)
(TSXV: USHA) (OTCQB: USHAF) (FSE: JO0), a North American mineral acquisition and exploration
company, is pleased to provide thi s update on its on-going fiel d program at the White Willow Lithium
Pegmatite Project (“White Willow” or the “Project”) located 170 km west of Thunder Bay, Ontario.
Phase 4 of fieldwork at the Project has commenced with the goal of further defining its drill-ready “Maple
Leaf” and “Bingo” LCT dykes prior to commencing its maiden drill program in the Spring.
In total, 10 target pegmatites have been identified across 19 weeks of fieldwork at the Project. Most recently,
the Company completed Phase 3 in January where in 10 weeks it c ollected and submitted a total of 727
grab samples from pegmatites and their host rocks for laborator y analysis as part of detailed mapping and
prospecting to identify geochemical anomalies associated with lithium mineralization not visible at surface.
The Company will shortly release the results of Phase 3 following final compilation and interpretation.
Phase 4 was initiated immediately based on its preliminary revi ew of assay data from Phase 3 as milder
winter conditions permitted early access to the Project.
“We are thrilled with the findi ngs from the most recent phase o f fieldwork at White Willow and are very
excited to continue to build on our success,” said Deepak Varsh ney, CEO of Usha Resources. “As seen at
Patriot Battery Metals’ Corvette Project, which has over 20 kil ometres of trend, lithium pegmatite swarms
occur in clusters, each of which has the potential to become a deposit. With 10 existing primary target areas
already identified across our 27-kilometre-plus trend, we belie ve Phase 4 will contribute significantly in
defining these targets ahead of our planned maiden program of 4,000 metres. The findings thus far strongly
validate our belief that Willow is a flagship asset where Ontar io’s next major lithium discovery will occur
and we look forward to sharing further updates in the coming weeks and months.”
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
Figure 1 - Property map of the White Willow property and extent of the pegmatite swarm.
Fieldwork will focus across the 27 km strike length of fractionated pegmatites, particularly at Bingo, where
preliminary results have returned some of the most evolved chem ical signatures on the property of
K/Rb~20; Nb/Ta <1; 4,100ppm Rb; and 954 ppm Cs, and Maple Leaf, where samples have assayed 14.64%
Ta2O5 and very coarse tantalite mineralization is present that is si milar to the North Aubrey pegmatite at
Green Technology Metals (GT1) Seymour Lake Project where GT1 ha s identified a 9.9 Mt resource at
1.04% Li2O.
Detailed sampling and hand stri pping have successfully identified beryl and Nb-Ta oxides at these targets
and fractionation indicators s uggest the dykes have reached spo dumene-type degrees of fractionation.
Preliminary results show lithium (Li), cesium (Cs), and rubidiu m (Rb) elevations in the metasedimentary
host rocks around the beryl-type pegmatites with up to 450 ppm Li were returned in the metasedimentary
rocks adjacent to the largest of the beryl-type dykes.
Lithogeochemical sampling of pegmatite host rocks is one of the most common techniques to test for buried
spodumene mineralization. Pegmatites leave a recognizable chemical halo in the surrounding country rocks,
and this halo is reflective of the chemistry of the pegmatite. By sampling the country rocks in a systematic
grid, Usha plans to identify the areas of the Bingo and Maple Leaf pegmatite swarms that have the highest
chance of hosting spodumene. The preliminary results have retur ned up to 450 ppm Li along the margins
of beryl- and tantalum-bearing pegmatites, suggesting that the evolved pegmatites are part of a lithium
enriched system.
Property Transaction
The Company is also pleased to announce that it has entered int o two separate option agreements with
arm’s-length parties (“Option #1 and Option #2”, collectively, the “Options”) to acquire a 100% interest in
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
certain 107 mineral claims (the “Claims”) adjacent to its prior ity “Bingo” LCT-pegmatite swarm. There is
no net-smelter returns royalty (the “NSR”) on the claims.
The Company will issue 12,000,0 00 common shares to the Vendors of Option #1 and 3,000,000 common
shares to the Vendors of Option #2 within five days of receipt of approval from the TSX Venture Exchange.
The transactions 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 per iods in accordance with securities laws in
Canada and the Exchange policies.
Quality Assurance/Quality Control
All collected rock samples were put in sturdy plastic bags, tag ged, and sealed at site. Sample bags were
then put in rice bags and kept securely before being sent by ro ad transport or delivered by the crew
supervisor to either AGAT Laboratories Ltd. or Activation Labor atories in Thunder Bay, Ontario. All
samples are analyzed with Four-A cid Digestion/Combined ICP-AES/ MS package (49 elements). The
QA/QC protocol included the insertion and monitoring of appropriate reference materials, in this case high
concentration and low concentration certified OREAS and CDN lithium standards to validate the accuracy
and precision of the assay results.
Qualified person
The technical content of this ne ws release has been reviewed an d approved by Mr. Andrew Tims, P.Geo.,
a qualified person as defined by National Instrument 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 lithium 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 Jackpot Lake, a lithium brine proj ect in Nevada and White Willow, a lithium
pegmatite project in Ontario that is the flagship among its gro wing 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 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,
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6J 4M6
www.usharesources.com
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.