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TSX.V: USHA | OTCQB: USHAF | FSE: JO0

Usha Resources Announces Non-Brokered Private Placements and Granting of Stock Options

Usha Resources Ltd. (“USHA” or the “Company”) (TSXV: USHA) announces that it has arranged a non-brokered private placement (the “Private Placement”) for gross proceeds of up to $500,000 through the issuance of up to 2,500,000 units (the “Units”) at $0.20 per Unit and gross proceeds of up to $300,000 through the issuance of 1,000,000 flow-through units (the “Flow-Through Units”) at $0.30 per Flow-Through Unit.

Each Unit will consist of one common share (a “Share”) and one-half of one transferable share purchase warrant (a “Warrant”) with each whole Warrant exercisable at $0.30 per share for a period of two (2) years from the date of closing, provided that in the event that the closing price of the Company’s Shares on the TSX Venture Exchange (or such other exchange on which the Company’s Shares may become traded) is $0.75 or greater per Share during any thirty (30) consecutive trading day period at any time subsequent to four months and one day after the closing date, the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the holders of the Warrants (the “Accelerated Expiry Provisions”).

Each Flow-Through Unit will consist of one flow-through common share in the capital of the Company and one-half of one transferable Warrant with each whole Warrant entitling the holder to purchase one Share for 2 years from the closing date at an exercise price of $0.40 per Share, subject to the Accelerated Expiry Provisions.

Finder’s fees may be paid to qualified parties in accordance with applicable securities laws. The net proceeds from the Private Placement will be used for exploration at Usha’s Lost Basin and Nicobat projects and for working capital and general corporate purposes.

Stock Option Grant

The Company also announces that it has granted incentive stock options to purchase a total of 552,700 Shares at an exercise price of $0.20 per Share for a period of five years to certain directors, officers and consultants in accordance with the provisions of its stock option plan.

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.