Usha Resources Receives $883,330 From Warrant Exercises

Navin Varshney, a director of the Company, exercised 364,300 warrants, increasing his shareholdings to a total of 2,440,600 common shares of the Company.

Deepak Varshney, CEO of the Company, exercised 163,400 warrants, increasing his shareholdings to a total of 1,568,800 common shares of the Company.

The Company has now raised $1,755,130.40 in the current quarter inclusive of the $890,300.40 in gross proceeds raised as part of the first tranche of the Company’s non-brokered private placement (the “Private Placement”) and other warrants exercised during the quarter, greatly strengthening its balance sheet moving forward as it continues to develop its Lost Basin Gold-Copper Project located in Mohave County, Arizona through ongoing exploration.

“We are very pleased with this strong show of support from our existing long-term shareholders as we continue to move forward with our strategy to further explore our Lost Basin Asset,” stated Deepak Varshney, P.Geo., CEO. “The proceeds from the warrant exercises and our initial tranche provide the Company with excellent financial footing and flexibility as we launch our 2022 exploration program. We are grateful for the ongoing support and very much look forward to an exciting year ahead.”