Usha Resources Ltd. provided this update on its on-going field program at the White Willow Lithium Pegmatite Project ("White Willow" or the "Project") located 170 km west of Thunder Bay, Ontario. The Company has completed 10 weeks of fieldwork as part of Phase 3. The focus of the program was to advance the Bingo lithium-cesium-tantalum ("LCT") pegmatite swarm to a drill-ready stage and further assess the Maple Leaf LCT pegmatite swarm. A total of 727 grab samples were collected from pegmatites and their host rocks and submitted for laboratory analysis as part of detailed mapping and prospecting to identify geochemical anomalies associated with lithium mineralization not visible at surface.

The existing 25 km strike length of fractionated pegmatites has been extended ~2 km further to the west (Fig. 1), where preliminary results at Bingo have returned some of the most evolved chemical signatures on the property. K/Rb~20; Nb/Ta <1; 4,100ppm Rb; and 954 ppm Cs.

Detailed sampling and hand stripping have successfully identified beryl and Nb-Ta oxides over an ~2 km strike length. Fractionation indicators suggest the dykes have reached spodumene-type degrees of fractionation. Preliminary results show lithium (Li), cesium (Cs), and rubidium (Rb) elevations in the metasedimentary host rocks around the beryl-type pegmatites with up to 450 ppm Li were returned in the metasedimentary rocks adjacent to the largest of the beryl-type dykes.

Lithogeochemical sampling of pegmatite host rocks is one of the most common techniques to test for buried spodumene mineralization. Pegmatites leave a recognizable chemical halo in the surrounding country rocks, and this halo is reflective of the chemistry of the pegmatite. By sampling the country rocks in a systematic grid, Usha plans to identify the areas of the Bingo pegmatite swarm that have the highest chance of hosting spodumene.

The preliminary results have returned up to 450 ppm Li along the margins of beryl- and tantalum-bearing pegmatites, suggesting that the evolved pegmatites are part of a lithium enriched system. The Bingo pegmatites display many textural similarities with spodumene-bearing pegmatites in Ontario, most notably a strong planar fabric and albitization of coarse K-feldspars. Beryl is present as light green to white euhedral crystals (up to 7cm long) along ~2km of the exposed strike length.

The white colour of beryl indicates a high Cs content and suggests crystallization in a highly evolved pegmatitei. Nb-Ta oxides (up to 1 cm long) are also present throughout the mapped strike length of the dyke and their presence was confirmed using electron dispersive spectrometry (EDS). Apatite is common as bright blue equant crystals up to 5mm in width.

The white beryl and the Nb-Ta oxides are locally associated with the partial to complete replacement of coarse K-feldspars by albite. To-date, the Company has delineated 10 high-priority drill targets with K/Rb ratios below 30. K/Rb is a key tool in identifying potentially spodumene-bearing dykes.

Values below 30 are indicative of rare-earth pegmatites and 20 of spodumene-subtype pegmatites. Pegmatite dykes from Phase 3 that contain positive indicator minerals (beryl or Nb-Ta oxides), prospective fractionation indicators, or are situated in areas of anomalous Li, Cs or Rb haloes will be followed up with more detailed prospecting, outcrop exposing, and will ultimately be a part of the Company's maiden 4,000 metre drill program anticipated to commence in Spring 2024 that will test these new and previously identified targets for the first time. All collected rock samples were put in sturdy plastic bags, tagged, and sealed at site.

Sample bags were then put in rice bags and kept securely before being sent by road transport or delivered by the crew supervisor to either AGAT Laboratories Ltd. or Activation Laboratories in Thunder Bay, Ontario. All samples are analyzed with Four-Acid Digestion/Combined ICP-AES/MS package (49 elements). The QA/QC protocol included the insertion and monitoring of appropriate reference materials, in this case high concentration and low concentration certified OREAS and CDN lithium standards to validate the accuracy and precision of the assay results.

The technical content of this news release has been reviewed and approved by Mr. Andrew Tims, P.Geo., a qualified person as defined by National Instrument 43-101.