Usha Resources Announces Extension of Private Placement Financing

The Financing consists of up to 10,000,000 units (the “ Units ”) at a price of $0.30 per Unit for gross proceeds of up to $3,000,000.

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 $0.45 per share for a period of two (2) years from the date of closing, subject to an accelerated expiry if the closing trading price of the Company’s shares is greater than $0.75 per Share for a period of 10 consecutive trading days (the “ Acceleration Event ”). The Company will give notice to the holders of the Acceleration Event and the warrants will expire 30 days thereafter.

The Financing is subject to TSX Venture Exchange final approval and all securities are subject to a four month hold period. Finder’s fees may be paid in accordance with applicable securities laws. The net proceeds from the Financing will be used for exploration on the Company’s new and existing portfolio of properties and for working capital and general corporate purposes.