Usha Resources Ltd. completes Initial Public Offering and Lists on the TSX Venture Exchange as a Capital Pool Company

USHA RESOURCES LTD.

1575 Kamloops Street

Vancouver, BC

V5K 3W1 Canada

NEWS RELEASE

Usha Resources Ltd. completes Initial Public Offering and Lists on the

TSX Venture Exchange as a Capital Pool Company

October 12, 2018 – Vancouver, British Columbia

Usha Resources Ltd. (the “Corporation”) (TSX-V: USHA.P), a capital pool company, is pleased

to announce that it has successfully completed its initial public offering (the “Offering”) of

2,000,000 common shares (the “Shares”) for gross proceeds of $200,000 through its agent,

Canaccord Genuity Corp. (the “Agent”). In connection with the Offering, the Agent received a

cash commission equal to 10% of the gross proceeds of the Offering. In addition, the

Corporation granted to the Agent non-transferable options to purchase up to 200,000 Shares at

a price of $0.10 per Share and which may be exercised until October 12, 2020. The Agent was

also paid an administration fee for its services in connection with the Offering.

The board of directors of the Corporation cons ists of Navin Varshney, Deepak Varshney, David

Ellett, and Leif Smither.

An aggregate of 420,000 stock options have also been granted to the directors and officers of

the Corporation to acquire Shares of the Corporation at an exercise price of $0.10 per Share

which may be exercised for a period of 5 years from the date of grant.

The Corporation is also pleased to announce that it has received approval of its application to

list its common shares on the TSX Venture Exchange (“TSX-V”). The Corporation’s common

shares were listed on the TSX-V on October 12, 2018 and immediately halted pending closing

of the Offering. The Corporation’s common shares are expected to commence trading on the

TSX-V on October 16, 2018 under the trading symbol “USHA.P”.

On behalf of the board of directors:

Usha Resources Ltd.

Per: “Navin Varshney”

Navin Varshney,

CEO, CFO, Corporate Secretary

and Director

INVESTORS ARE CAUTIONED THAT TRADING IN THE SECURITIES OF A CAPITAL POOL

COMPANY SHOULD BE CONSIDERED HIGHLY SPECULATIVE. NEITHER THE TSX VENTURE

EXCHANGE NOR ITS REGULATION SERVICES PROVID ER (AS THAT TERM IS DEFINED IN THE

POLICIES OF THE TSX VENTURE EXCHANGE) A CCEPTS RESPONSIBILITY FOR THE ADEQUACY

OR ACCURACY OF THIS RELEASE.