Press Release · February 19, 2026 · Vancouver, BC

Usha Resources Options Rubidium Ridge Project to Panther Minerals

Usha Resources Ltd. announced it has executed an arm's length sale and purchase agreement with Panther Minerals Inc. whereby Panther will have the right to purchase an undivided 100% interest in Usha's Rubidium Ridge pegmatite project located in Ontario, Canada.

The transaction aligns with Usha's strategy to streamline its portfolio and focus on its core assets, including its drill-ready Southern Arm copper and Jackpot Lake lithium brine projects.

To earn the property, Panther will pay $80,000 cash and issue 4,150,000 common shares (subject to six-month resale restrictions). Upon completion, Usha retains a 2.0% net smelter returns royalty, with Panther holding rights to repurchase 50% of the NSR for $1,000,000 and first refusal rights on the remaining 50%.

Additionally, Panther must pay Usha a $1,000,000 bonus upon delineating an inferred resource or higher resource classification totaling at least 10 million tonnes at a minimum grade of 1% Li2O.

CEO Deepak Varshney stated: 'This strategic stake will give us significant upside and further fortify our balance sheet.' This marks Usha's third non-core asset divestment in 24 months.

Forward-Looking Information This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Such information reflects management's current expectations and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Forward-looking information speaks only as of the date hereof and the Company disclaims any obligation to update it except as required by law.

Source: Accesswire wire syndication — view original