Base Metals

Usha Resources Ltd. ("USHA" or the "Company") (TSXV:USHA) (OTCQB:USHAF), a North American mineral acquisition and exploration company focused on the development of drill-ready battery and precious metal projects, is pleased to announce that it has retained Red Cloud Securities Inc. ("Red Cloud" or "RCSI") to provide market-making services while adding TMM Capital Advisory to spearhead investor relations

"USHA's expanding portfolio of lithium, nickel, copper, cobalt and gold projects have quickly emerged as a compelling investor story, while still remaining relatively quiet," said Deepak Varshney, CEO of Usha Resources. "We're heading into a pivotal development stage across all operations, and securing top-notch professional talent to help manage shareholder interests and communicate our vision to a wider audience is both a timely move and an investment in USHA's growth future. 2022 is poised to be a break-out year and an early mover opportunity."

Market-Making Services Engagement

RCSI will assist USHA, helping to ensure a fair, tight and liquid public trading market is always maintained. Red Cloud's experienced team of professional traders will work actively and regularly with USHA management offering trading advice, reporting, and tracking of their stock. Having professionals overseeing the day-to-day trading and activity of USHA stock will help create a strong level of comfort and assurances the markets are being maintained every day.

RCSI's engagement is for a one-year period, effective April 15, 2022, for a monthly fee of $12,000.00. Red Cloud will not receive any Common Shares or options as compensation. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares and is not a formal market-making agreement.The engagement of Red Cloud remains subject to the approval of the TSX Venture Exchange.

Investor Relations Agreement

The Company is also pleased to announce that it has entered into a consulting agreement with Mr. Tyler Muir of TMM Capital Advisory for investor relations and communications services. Mr. Muir has been deeply involved with the capital markets since 2015. Having developed an extensive retail and institutional network, Mr. Muir is known for his intuitive business ideas and for keeping investors informed and educated with open and continuous engagement.

The initial agreement is for a six-month term, with monthly fees of $3,500.00. The Company also announces a grant of 50,000 stock options to Mr. Muir at an exercise price of $0.30. The stock options will be in effect for two years and will vest in accordance with the policies of, and are subject to approval by, the TSX Venture Exchange. The Agreement may be extended with the prior written consent of both parties or terminated at any time with 30-day notice.

Mr. Muir stated, "I am very excited to join the USHA team at such a pivotal time in their growth. The acquisition of Jackpot Lake positions USHA firmly in the battery metals space and I look forward to interacting with the investment community and communicating with new and existing shareholders."

About Usha Resources Ltd.

Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality battery and precious 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 consist of Jackpot Lake, a lithium project in Nevada; Nicobat, a nickel‑copper‑cobalt project in Ontario; and Lost Basin, a gold-copper project in Arizona. Usha trades on the TSX Venture Exchange under the symbol USHA and the OTCQB Exchange under the symbol USHAF.

Usha Resources LTD.

"Deepak Varshney" CEO and Director

For more information, please phone Tyler Muir, Investor Relations at 1 (888) 772-2452, email tmuir@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.

SOURCE:Usha Resources Ltd.



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https://www.accesswire.com/697827/Usha-Resources-Retains-Red-Cloud-Securities-for-Market-Making-Services-Engages-TMM-Capital-Advisory-for-Investor-Relations

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Usha Resources Initiates Expanded Exploration Program at Jackpot Lake Lithium Brine Project

Usha Resources Initiates Expanded Exploration Program at Jackpot Lake Lithium Brine Project

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 announce that it has begun exploration work at its Jackpot Lake Lithium Brine Project in Clark County, Nevada . The Company has contracted Rangefront Mining Services to provide geological services and now plans to increase the scope of its maiden drilling program.

The upcoming program is focused on sourcing a domestic supply of lithium in Nevada in line with President Biden's initiative:

"To help make electric vehicles work, we need also to increase the production of lithium-ion batteries and we need responsible and sustainable domestic sourcing of the critical materials used to make lithium-ion batteries such as lithium, cobalt, nickel, and graphite," infrastructure implementation coordinator and senior Biden adviser Mitch Landrieu told reporters on May 2, 2022 .

Program Highlights:
  • Rangefront Mining Services, a local Nevada firm, has been retained to provide geological services
  • Permitting process now underway following a successful site visit from USHA's technical team to review drill sites for the construction of access roads and drill pads in preparation for drilling
  • USHA has increased the anticipated scope of the drill program to 2,700 metres over 6 holes
  • Plans to commence drilling in late summer / early fall (pending permit approvals)
  • Drill program is fully financed as USHA has recently completed an oversubscribed private placement for gross proceeds of $2,895,401 ( https://bit.ly/3tOdqUu )

The Company is pleased to announce that a site visit has been completed at the Jackpot Lake Lithium Brine project and that permitting for its maiden drilling program is underway. The purpose of the visit was to assess the Site to review drill sites for the construction of access roads and drill pads in preparation for drilling.

Rangefront Mining Services (Rangefront), a local Nevada firm, has been selected to provide geological services for the design, execution, and management of exploration work at Jackpot Lake. Rangefront is a comprehensive geology and mining consulting firm with personnel that specialize in the planning and execution of lithium brine exploration, including resource estimation, as the Company works towards its goal of completing a 43-101 resource estimate by Q4 of 2022 ( https://bit.ly/3tD9ndz ).

Furthermore, based on its review and discussion with Rangefront and the successful completion of its oversubscribed private placement for gross proceeds of $2,895,401 , the Company has elected to increase the planned scope of its maiden drilling program from 900 metres over 3 holes to 2,700 metres over 6 holes to better define a 43-101 resource. Pending permit approvals, the Company anticipates commencing drilling in the late summer, early fall.

Deepak Varshney , CEO of Usha Resources stated: "USHA is very excited to have begun our journey at Jackpot Lake and capitalize on our geographical advantage on US soil and to partner with the team at Rangefront. We believe they are the right team to work with and their engagement will provide us with consistency and accessibility to a variety and depth of innovative approaches that will accelerate our goals. With a well-funded treasury, we anticipate the remainder of 2022 to be an extremely active year and we look forward to a busy and productive field season at Jackpot Lake as we also proceed with our other catalysts including the Nicobat Nickel spinout."

Jackpot Lake Lithium Brine Property

The Jackpot Lake Lithium Brine Property is located within Clark County , 35 kilometres northeast of Las Vegas, Nevada , and is comprised of 140 mineral claims that total 2,800 acres. The project is exploring a "playa" which appears to be within a closed basin that may contain potentially lithium-rich brines. The geologic model is similar to that of Albemarle's Silver Peak Nevada Lithium Mine which has operated continuously since 1966, where sediments from lithium‑rich surrounding source rocks accumulate and fill the deposit leading to a potential concentration of lithium brine due to successive evaporation and concentration events.

The project is considered to be "drill-ready" based on the following work which has successfully delineated a 5 x 2 kilometre anomaly within a closed basin that suggests the presence of a highly concentrated brine:

  • 129 core samples collected by the USGS with an average lithium value of 175 ppm with a high of 550 ppm and spectrographic and atomic-absorption analyses of 135 stream sediment samples confirming the potential for lithium mineral deposits.
  • Gravitational surveying which has identified a closed basin, critical for ensuring brines remain within the basin without dilution from external water sources.
  • Geophysical modelling based upon gravitational and controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT) surveys has provided evidence of highly concentrated brines which are relatively near the surface. The CSAMT survey results of the Jackpot Lake Project demonstrate a large consistent body of very low resistivity – consistent with highly concentrated brine behavior – throughout the property, predominantly above bedrock depths of 625 meters.
Corporate Video

The Company is also pleased to premiere its corporate introduction video, which allows shareholders and the general public to meet Deepak Varshney , CEO of USHA, and learn about the Company and its project. The video can be accessed at the Company's homepage and at the following link: https://youtu.be/3rCA9SjUpps .

Qualified Person

The technical content of this news release has been reviewed and approved by Mr. Helgi Sigurgeirson , P.Geo., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

About Usha Resources Ltd.

Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality battery and precious 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 consist of Jackpot Lake, a lithium project in Nevada ; Nicobat, a nickel‑copper‑cobalt project in Ontario ; and Lost Basin, a gold-copper project in Arizona . 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.
"Deepak Varshney" CEO and Director

For more information, please call Tyler Muir , Investor Relations, at 1-888-772-2452, email tmuir@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.

Usha Resources logo (CNW Group/Usha Resources Ltd.)

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SOURCE Usha Resources Ltd.

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Usha Resources Closes Final Tranche of Oversubscribed Non-Brokered Private Placement Totalling $2,895,401

Usha Resources Closes Final Tranche of Oversubscribed Non-Brokered Private Placement Totalling $2,895,401

Usha Resources Ltd. ("USHA" or the "Company") (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0) is pleased to report that, further to its previous news releases (see news releases dated April 4, 2022 May 16, 2022 and May 18, 2022 ) and subject to the approval of the TSX Venture Exchange (the " Exchange "), it has closed its final tranche of its non-brokered private placement (the " Private Placement ") issuing an additional 4,512,007 units (each a " Unit ") at a price of $0.30 per Unit for total gross proceeds of $1,353,602 . In total, USHA has raised gross proceeds of $2,895,401 in all four tranches.

Usha Resources Logo (CNW Group/Usha Resources Ltd.)

Deepak Varshney , CEO of Usha Resources stated: "Given the current market conditions, completion of this oversubscribed placement speaks to the strong demand and growing confidence in our team, our Lithium, Gold-Copper and Nickel projects and future vision for where we intend to take this Company. We are very pleased to welcome many new subscribers in this financing, including our latest institutional investor, and thank our existing shareholders who participated for their on-going support. With a well-funded treasury, USHA is positioned to execute at each of our projects and we look forward to a busy and productive field season."

Each Unit issued consists of one common share (a " Share ") in the capital of the Company and one-half of one transferable Share purchase warrant (each whole warrant, a " Warrant ") with each whole Warrant exercisable at $0.45 per Share for a period of 2 years from the date of closing (the " Expiry Date ").

In connection with the final tranche of the Private Placement, the Company paid finders' fees of $7,920 cash and 26,400 non-transferable finder warrants (the " Finder Warrants ") to PI Financial Corp., $1,800 cash and 6,000 Finder's Warrants to Leede Jones Gable Inc., and $4,208.02 cash and 14,027 Finder's Warrants to Research Capital Corporation. The Finder's Warrants are exercisable on the same terms as the Warrants issued in the Private Placement and were issued in accordance with applicable securities laws and Exchange Policy.

All securities issued in the fourth tranche of the Private Placement are subject to the Exchange hold period, plus a hold period of four months and one day following the closing dates of the Private Placement expiring on October 15, 2022 .

The proceeds raised under the Private Placement will be used for working capital and general corporate purposes including:

  • Aggressive exploration at the Jackpot Lake Lithium Brine project, where the Company intends on completing its maiden drilling program with the goal of completing a 43-101 resource estimate by Q4 of 2022 ( https://bit.ly/3tD9ndz );
  • Exploration at the Lost Basin Gold-Copper project, where the Company intends on completing its maiden drilling program following more than a year of target development and generation ( https://bit.ly/39mFN59 ); and
  • Subject to a number of conditions, completion of the spinout of its Nicobat Nickel Project into its wholly-owned subsidiary, Formation Metals Corporation ("FMC"), giving shareholders a "20% share dividend" of one (1) share of FMC with respect to every five (5) shares of USHA owned on the share distribution record date ( https://bit.ly/3b3cRjd ).
About Usha Resources Ltd.

Usha Resources Ltd. is a North American mineral acquisition and exploration company focused on the development of quality battery and precious 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 consist of Jackpot Lake, a lithium project in Nevada ; Nicobat, a nickel‑copper‑cobalt project in Ontario ; and Lost Basin, a gold-copper project in Arizona . 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.

"Deepak Varshney" CEO and Director

For further information: please call Tyler Muir , Investor Relations, at 1-888-772-2452, email tmuir@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.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/usha-resources-closes-final-tranche-of-oversubscribed-non-brokered-private-placement-totalling-2-895-401--301568326.html

SOURCE Usha Resources Ltd.

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Usha Resources Closes Second Tranche of Oversubscribed Non-Brokered Private Placement at Premium to Market Price

Usha Resources Closes Second Tranche of Oversubscribed Non-Brokered Private Placement at Premium to Market Price

NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES

Increase and Extension Granted for Non-Brokered Private Placement

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Usha Resources Announces Creation of Formation Metals Spinout through Signing of Arrangement Agreement

Usha Resources Announces Creation of Formation Metals Spinout through Signing of Arrangement Agreement

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 announce unanimous Board of Director approval and support for its previously announced spin-out transaction (the "Spinout") and that the Company has now entered into an arrangement agreement (the "Arrangement") with its wholly-owned subsidiary, Formation Metals Corporation ("Formation Metals" or "FMC"), to transfer the Nicobat Nickel-Copper-Cobalt property to FMC

Under the terms of the Arrangement dated May 10, 2022, USHA shareholders will be issued one (1) share of FMC with respect to every five (5) shares of USHA owned on the share distribution record date (the "Share Distribution Record Date"), which will be predetermined by USHA's Board of Directors and announced by a news release -in advance. Holders of USHA options and warrants, who exercise their options and/or warrants before the Share Distribution Record Date, will also be entitled to receive one (1) share of FMC with respect to every five (5) shares of USHA.

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Usha Resources Begins Trading on the Frankfurt Stock Exchange as FSE:JO0

Usha Resources Begins Trading on the Frankfurt Stock Exchange as FSE:JO0

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 announce the listing of its common shares for trading on the Frankfurt Stock Exchange ("FSE") under the symbol "JO0" with ISIN CA91734F1080 and WKN A3DK8K

"With the recent acquisition of the Jackpot Lake Lithium Project, three planned drill programs and mounting investor interest in our Nicobat Nickel Project spin out, it makes sense to broaden USHA's visibility and connect with a larger, global community of potential European institutional and retail investors," commented Deepak Varshney, CEO of Usha Resources. "Anytime we can make it easier and help facilitate investment in the Company by the European investment community. we'll take action so that all shareholders benefit."

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Trilogy Metals Reports Second Quarter Fiscal 2022 Financial Results

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