Usha Resources Sells Projects to Molten Metals for 19.9% Stake, Extends Exclusivity for the Sale of the Jackpot Lake Project for Total Consideration of up to US$26,025,000
Vancouver, British Columbia / May 12,, 2025 –
Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality battery metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Usha’s portfolio of strategic properties provides target-rich diversification and consist of Southern Arm, a copper project in Quebec; Jackpot Lake, a lithium project in Nevada; White Willow, a lithium project in Ontario. 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.
To date, drilling at Dry Lake Basin remains successful, and continues to show strong geographic similarities to Albemarle’s Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America.
Company recently reported the highest lithium grades ever at the project, with analytical results from JP22-02 returning as high as 820 ppm and averaging 334 ppm Li in thirty samples collected from shallow surface soils (<500 ft)
Usha will strive to become a best-in-class mining company that creates value for our shareholders through safely and responsibly exploring essential metals for the world of tomorrow.
Spanning 15,680 hectares, the property is in proximity to other lithium projects in the region such as the Seymour Lake Lithium Project, the Georgia Lake pegmatite field, and the Separation Rapids Lithium deposit, showcasing the region’s rich lithium potential.
Usha is in the midst of a to-date successful drill program encountering lithium in shallow soils up to 820ppm, a higher-porosity sand-conglomerate zone at basin bottom with evaporitic salt crystallization confirmed to extend to depth at both drill holes to date.
A drill ready copper-gold project similar to the neighbouring Selbaie Mine, a Polymetallic Copper Deposit that had a historical resource of 56.9 Mt @ 0.87% Cu, 1.85% Zn, 0.55 g/t Au, 39 g/t Ag (CONSOREM 2012) and the high-grade B26 Copper Deposit which hosts 6.97 Mt at 2.94% CuEq (Indicated) and 4.41 Mt at 2.97% CuEq (Inferred).
Compelling share structure with only ~ 77M shares outstanding, approximately 60% of which are owned by insiders, management, and strategic shareholders
Quebec, Nevada and Ontario are among the highest rates jurisdictions for mining exploration in the world.
Projects in Quebec, Nevada and Ontario mean exploration crews are busy every month of the year.
Usha has three drill-ready projects and will be drilling the Southern Arm Copper-Gold Project this Fall.
Vancouver, British Columbia / May 12,, 2025 –
Vancouver, British Columbia / December 16,, 2024 –
Vancouver, British Columbia / December 4, , 2024