Usha Resources Provides Update on its Fall 2021 Exploration Program at its Lost Basin Project

The Company is in receipt of a Notice of Exploratory Trenching 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. The trenches will be utilized to channel sample across key mineralized sections on the property including the Copper Blowout - Red Basin area where USHA’s spring fieldwork identified the following:

Red Basin: Highly anomalous soil samples were identified 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.

The program will be completed over a period of four weeks and will also include soil sampling, geologic mapping, and rock sampling of these areas and other areas of interest at Lost Basin, including the Ideas Lode West vein where grab samples assayed as high as 45.4 g/t Au.

The primary objective of exploration will be to further develop USHA’s understanding of the nature of the gold mineralization at Lost Basin as it continues to develop targets for a follow-up core drilling program in 2021.

“We are extremely excited to continue our exploration at the Lost Basin property,” stated Deepak Varshney, CEO of USHA. “We are excited to not only develop the gold prospects at Lost Basin, but also our copper targets as the copper story gathers increasing interest as demand for ‘green’ metals increases due to electrification. Our exploration team is focused on continuing a systematic approach and we look forward to the results of our next phase of exploration as we continue to develop the Lost Basin asset.”