Usha Announces Amendment to Property Option Agreement and Issuance of Shares

Vancouver, British Columbia / May 5, 2025 – Usha Resources Ltd. (“USHA” or the “Company”) (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0), a North American mineral acquisition and exploration company, announces that, further to the Company’s news release of May 1, 2023, wherein the Company announced the execution of a property option agreement (the “Option Agreement”) with 2758145 Ontario Ltd. (the “Vendor”) of Atikokan, Ontario, for the right to purchase an undivided 100% interest in five (5) additional lithium pegmatite projects located in Ontario, it has entered into an amendment agreement (the “Amendment”) to the Option Agreement with the Vendor with respect to the Triangle Lake Property and Gathering Lake Property. To date, the Company has paid the Vendor $25,350 cash and issued the Vendor 100,000 common shares (each a “Share”) of the Company in accordance with the Option Agreement for the Triangle Lake Property and the Gathering Lake Property.

Pursuant to the Amendment, the parties agreed to amend the payment terms of the Option Agreement whereby the Company will pay the Vendor $5,000 cash (per property) and 5% of the consideration paid to the Company if the Company sells the Triangle Lake Property and Gathering Lake Property within one year from the date of execution of the Amendment. These amended payment terms replace all payment obligations of the Company under the Option Agreement that have not been paid to the Vendor.

The Company also announces that it has issued 750,000 Shares at a deemed price of $0.035 per Share to Grid Metals Corp. (“Grid”) of Toronto, Ontario with respect to the Company’s White Willow Lithium Pegmatite Project located 170 km west of Thunder Bay, Ontario. This issuance of Shares represents the third anniversary payment owing to Grid and satisfies all terms of the assignment agreement. The Shares are subject to a hold period of four months from the date of issuance and the Exchange Hold Period.

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, Jackpot Lake, a lithium brine project in Nevada and White Willow, a lithium pegmatite project in Ontario that is the flagship among its growing portfolio of hard-rock lithium assets. 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 [email protected] 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 may include "forward-looking information" under applicable Canadian securities legislation. 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.