Drilling To-Date Reveals Similar Stratigraphy and Consistent Evaporite Crystallization Across Multiple Drill Holes

Vancouver, British Columbia / February 21, 2023 - Usha Resources Ltd. (“USHA” or the “Company”) (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0), a North American mineral acquisition and exploration company focused on the development of drill-ready battery and precious metal projects, is pleased to provide this update on the second drill hole (“JP22-2”) of its maiden drill program at the Jackpot Lake Lithium Brine Property (“Project”) located in Clark County, Nevada. The drill is now at the 231‑metre level and its exploration team has encountered similar stratigraphy to the core observed from first hole (“JP22-1”), where multiple zones of evaporite crystals are present as interbeds, veining, and inclusions within lacustrine sediments comprising clays, silts, and sands. 

The presence of evaporite crystals within both JP22-1 and now JP22-2 further supports the presence of a brine forming environment throughout the Dry Lake Basin as crystallization of evaporites would not occur in a freshwater system and JP22-2 is located approximately 2.75 kilometres north-northwest of JP22-1.

For information on the results of its first successfully completed drill hole JP22-1, please see the Company’s news release dated February 7, 2023).

Furthermore, based on the evidence observed, the Company believes that there is a strong potential for similar stratigraphy to be observed within its newly staked claims whereby the Company strategically expanded its control from 140 to 442 claims totalling approximately 35.3 square kilometres or 8,714 acres (see Usha Resources’ news release dated February 16, 2023).