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VANCOUVER, BC / ACCESS Newswire / February 19, 2026 / Usha Resources Ltd. ("Usha", "USHA" or the "Company") (TSXV:USHA,OTC:USHAF)(OTCQB:USHAF)(FSE:JO0), a North American mineral acquisition and exploration company, is pleased to announce that it has executed an arm's length sale and purchase agreement (the "Agreement") with Panther Minerals Inc. ("Panther", "PURR" or the "Purchaser") whereby Panther will have the right to purchase (the "Transaction") an undivided 100% interest in Usha's Rubidium Ridge pegmatite project located in Ontario, Canada (the "RR Property").
The Agreement 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, both of which it intends to advance in 2026.
By optioning the RR Property to Panther, Usha secures immediate and staged financial benefits while transferring exploration risk to a capable partner with expertise in lithium exploration.
Deepak Varshney, CEO of Usha Resources, commented: "We are very excited to partner with Panther to advance the Rubidium Ridge property. This strategic stake will give us significant upside and further fortify our balance sheet."
This will be the Company's third divestment of a non-core asset in the past 24 months.
To earn a 100% interest in the RR Property, upon receipt of approval from the Canadian Securities Exchange, Panther will:
make a cash payment of $80,000; and
issue 4,150,000 common shares in the capital of Panther to Usha, which shares will be subject to to resale restrictions expiring six (6) months from the date of issuance.
Upon completion of the earn-in, the RR Property will be subject to a2.0% net smelter returns royalty (the "NSR") payable to Usha on commercial production of mineral products from the property. Panther will have the right to repurchase 50% of the NSR for $1,000,000 and will also be granted a right of first refusal to repurchase the remaining 50%.
In addition, Panther will be required to pay Usha a bonus of $1,000,000 upon delineation of an inferred resource or higher resource classification at the RR Property totaling at least 10 million tonnes at a minimum grade of 1% Li2O.
The Transaction qualifies as an "Exempt Transaction" for Usha under TSX Venture Exchange Policy 5.3 Acquisitions and Dispositions of Non-Cash Assets.
About Usha Resources Ltd.
Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality critical metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Usha's portfolio of strategic properties provides target-rich diversification and includes Southern Arm, a copper-gold VMS project in Quebec, and Jackpot Lake, a lithium brine project in Nevada.
Usha trades on the TSX Venture Exchange under the symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under the symbol JO0.
Usha Resources LTD.
For more information, please call 778-899-1780, email info@usharesources.com or visit www.usharesources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release includes "forward-looking information" under applicable Canadian securities legislation, including statements respecting the Agreement and completion of the Transaction thereunder. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
SOURCE: Usha Resources Ltd.
View the original press release on ACCESS Newswire
