Usha Resources to Resume Exploration at Lost Basin Gold-Copper Project
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6 J 4M6
www.usharesources.com
News Release
Usha Resources to Resume Exploration at Lost Basin Gold-Copper Project
Vancouver, British Columbia / November 18, 2021 – U sha Resources Ltd. (“USHA” or the
“Company”) (TSXV: USHA) (OTCQB: USHAF) is pleased to announce that subsequent to its closi ng
of the first tranche of the Company’s non-brokered private placement (the “ Private Placement ”), raising
gross proceeds of $890,300.40, it has resumed exploration planning for its Lost Basin Gold-Copper Project
located in Mohave County, Arizona.
The Company is in receipt of a Notice of Exploratory Trenching (the “ Notice ”) that permits the excavation
of 10 trenches with an average width of 3 metres and depth of 2 metres for approximately 1,420 metres in
total. Based on assessment work completed since rec eipt of the Notice, however, the Company has
determined that the next phase of work should include a core drilling program to further develop USHA’ s
understanding of the nature of the gold-copper mine ralization at Lost Basin as part of a larger follow -up
core drilling program later in 2022.
The Company’s program will focus on key mineralized sections on the property where USHA’s spring
fieldwork identified the following:
• Red Basin: Highly anomalous soil samples were ident ified with 10 samples assaying over 0.2 g/t
Au and as high as 11.134 g/t Au.
• Copper Blowout: 4 chip samples assayed above 1% Cu and as high as 1.53% Cu over 2 m.
• Mallory’s Trench: Chip samples yielded gold values as high as 2.6 g/t Au over 2 m.
• Ideas Lode West: An exciting new prospect where the structure containing the gold-bearing quartz
veining extends for hundreds of metres and grab samples assayed as high as 45.4 g/t Au.
"Advancing the gold and copper stories at Lost Basin is a primary objective of ours as we move into 2022
and we are extremely excited to continue our explor ation at the property," stated Deepak Varshney, CEO
of USHA. “We look forward to continuing to build on the results of our Spring program as we continue to
develop the Lost Basin asset."
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6 J 4M6
www.usharesources.com
Suite #400 – 1681 Chestnut Street, Vancouver, BC V6 J 4M6
www.usharesources.com
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Helgi Sigurgeirson,
P.Geo., a qualified person as defined by National I nstrument 43-101 Standards of Disclosure for Minera l
Projects (“NI 43-101”).
About Usha Resources Ltd.
Usha Resources Ltd. is a Canadian mineral acquisition and exploration company based in Vancouver, BC,
Canada. Usha is exploring for commercially exploit able mineral deposits and is currently focused on
deposits located in Northwest Ontario, Canada and the Lost Basin Gold Mining District in Mohave County,
Arizona, U.S.A. Usha increases shareholder value th rough the acquisition and exploration of quality
precious and base metal properties and the applicat ion of advanced state-of-the-art exploration method s.
Usha's portfolio of strategic properties provides diversification and mitigates investment risk.
We seek Safe Harbor.
USHA RESOURCES LTD.
“Deepak Varshney” CEO and Director
For more information, please phone James Berard, In vestor Relations, at 778-228-2314, 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 info rmation" under applicable Canadian securities
legislation. Such forward-looking information refle cts 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, competitive , political and social uncertainties, uncertain and
volatile equity and capital markets, lack of availa ble capital, actual results of exploration activiti es,
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 compa ny. 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. Furthermore, the Company currently has no reserves on any of it s
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 coul d differ materially from those anticipated in such
statements.