Usha Resources Discovers Spodumene at White Willow Project

Discovery of Spodumene by Usha Resources at White Willow Project

At its White Willow Lithium Pegmatite Project, Usha Resources (TSXV: USHA) (OTCQB: USHAF) (FSE: JO0) has effectively discovered spodumene. This finding marks a turning point in validation of the company's exploration thesis developed over the past 15 months. Originally based on high-grade Tantalite results, the project now comprises a spodumene-bearing pegmatite system with a strike length of almost 44 kilometers. The discovery of spodumene, a main mineral bearing lithium, emphasizes how likely the project is to add to the world's supply of lithium. Using Fourier-Transform Infra-Red spectroscopy (FTIR-MIN), Usha Resources identified the spodumene—a method that verified the presence of the mineral despite its fine-grained character, invisible to the unaided eye. This find puts Usha in a great position to profit from the rising demand for lithium, especially for use in electric car batteries. The growth of the project reflects Usha's strategic concentration on creating valuable, critical metal assets. Usha hopes to keep White Willow as a flagship asset in her portfolio by means of more research scheduled.

Significance of the Spodumene Discovery

For Usha Resources, the discovery of spodumene at White Willow is absolutely vital. It marks the change of the project from a site with a tantalite concentration to a possible lithium powerhouse. This result validates Usha's long-term approach for the market in critical metals.

Expansion of the White Willow Lithium Pegmatite Field

The 44 kilometers that the White Willow pegmatite field now spans greatly increase the extent of the project. This development increases the resource potential of the project and sets Usha in a position for future exploration success. The great strike length points to significant lithium resources still to be undiscovered.

Strategic Partnership and LOI with Stardust Power, Inc.

Usha Resources is under Letter of Intent (LOI) with Stardust Power, Inc. Under terms worth up to $26,025,000 over five years, the LOI gives Stardust Power the right to earn up to a 90% interest in Jackpot Lake Lithium Brine Project. For exclusivity during the LOI period, Usha already got $75,000 from Stardust. By concentrating on Stardust's other top priorities and using its resources, this strategic alliance enables Usha to The agreement calls for a major work dedication from Stardust, cash payments, and stock options. Should the agreement move toward a definitive phase, Usha might keep a 10% interest while gaining from a 2% Net Smelter Royalty. This cooperation reflects Usha's strategic approach to resource development and cooperation, so helping the business to maximize the value of its assets. The success of this cooperation will rely on satisfying several criteria stated in the LOI.

Key Terms of the Letter of Intent

With payments in cash, stocks, and work commitments, the LOI comprises a possible $26 million investment spread over five years. Jackpot Lake's appeal to Stardust Power emphasizes the commercial feasibility of the project. Usha gains future upside from the royalty agreement even while she gains immediate capital infusion.

Potential Financial Impact on Usha Resources

Usha's financial situation could be much improved by the cooperation. The agreement offers both quick and long-term financial gains, including possible royalties-related income. The money from Stardust will help Usha with both present and future exploration projects.

Southern Arm Copper-Gold VMS Project: Preparations for Drilling

Nestled in the Abitibi Greenstone Belt, Usha Resources is developing its Southern Arm Copper-Gold VMS Project. Initiated fieldwork to de-risk its first drill program, set for Fall 2024, the company With a 7.3-kilometer conductive trend running along the Bapst fault, Southern Arm is a very highly prospective property. Significant mineral deposits including the nearby Selbaie Mine and B26 Deposit are known from this fault. Usha's first investigation will consist of a biogeochemical study aimed at spotting extra high-priority targets. The project already has several drill targets, including the "Hollywood" zone, which displays aberrant metal values over a 1.8-kilometer footprint. Usha's deliberate attention on this project underlines its dedication to produce polymetallic VMS-style mineralization of high value. A major step towards releasing the full potential of the project is the forthcoming drilling initiative.

Overview of the Southern Arm Project

Southern Arm is in an area well-known for gold and copper riches. The project is a major exploration target since its trend is 7.3-kilometer. Usha works at Southern Arm searching for high-grade copper-gold mineralization.

Initial Fieldwork and Biogeochemical Survey Plans

Beginning at Southern Arm, Usha is doing preliminary fieldwork with an eye toward a biogeochemical survey. This survey seeks to improve drill targets before the first drilling program starts. The findings will enable Usha prioritize the sites with most mineralizing potential.

Strong Financial Position and Strategic Resource Development

Having about $2 million in working capital, Usha Resources is in a strong financial situation. This capital gives the business the tools it requires to follow its ambitious exploration agenda. Recent strategic alliances and effective private placements help Usha's financial situation to be strengthened. The company's capacity to finance its initiatives without instant need for more capital shows good financial control. This strong posture helps Usha to concentrate on developing its main initiatives, including White Willow and Southern Arm. The company's approach is to fund early-stage, high-potential initiatives with great returns possible. Effective execution of Usha's approach depends critically on her financial stability. Maintaining this financial strength will be crucial for ongoing development as Usha advances.

Usha Resources’ Current Financial Health

Usha's $2 million working capital funds her nicely for next research. This consistency in finances lets the business carry out its exploration plans free from financial constraints. It also offers a barrier for unanticipated difficulties.

Allocation of Resources for Exploration Activities

Usha is carefully distributing its funds to highly promising initiatives including Southern Arm and White Willow. Maximizing the returns from every dollar spent is the main emphasis. Usha's long-term growth goals are supported by this deliberate resource management.

Recent Private Placement and Share Issuance

Recently finishing a non-brokered private placement, Usha Resources raised $924, 999.97 by issuing 8,043,478 flow-through shares. The money from this placement will help to further research on Southern Arm and White Willow, among other important projects of the company. Apart from the private placement, Usha underlined 2,500,000 shares under its option agreement with Abitibi Metals Corp for the Southern Arm property. Usha's plan calls for this share issuing as a means of attaining 100% ownership of the property. With Usha still free to purchase back two-thirds of the 2% net-smelter royalties included in the option agreement, Usha's larger plan calls for these financial actions to generate capital and minimize dilution for current owners. The money and shares will help with continuous exploration and development projects, so ensuring Usha stays on target with regard to its expansion plans.

Details of the Non-Brokered Private Placement

The private placement brought almost $925,000 for Usha's research initiatives. Every share that was issued was a flow-through share, so benefiting Canadian investors in taxes. The money will be focused on advancing Usha's main exploration initiatives.

Share Issuance Under the Southern Arm Option Agreement

Under its agreement to purchase the Southern Arm property, Usha issued 2,500,000 shares. This issuing marks a step toward complete property ownership. The agreement contains a royalty schedule from which Usha can partially buyback.

For more information, visit https://usharesources.com/.

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