Usha Resources options Rubidium Ridge to Panther

Mr. Deepak Varshney reports USHA RESOURCES OPTIONS RUBIDIUM RIDGE PROJECT TO PANTHER MINERAL Usha Resources Ltd. has executed an arm's-length sale and purchase agreement with Panther Minerals Inc. whereby Panther will have the right to purchase an undivided 100-per-cent interest in Usha's Rubidium Ridge pegmatite project located in Ontario, Canada. 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, chief executive officer 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-per-cent 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 4.15 million common shares in the capital of Panther to Usha, which shares will be subject to resale restrictions expiring six months from the date of issuance. Upon completion of the earn-in, the RR property will be subject to a 2.0-per-cent net smelter return royalty payable to Usha on commercial production of mineral products from the property. Panther will have the right to repurchase 50 per cent of the NSR for $1-million and will also be granted a right of first refusal to repurchase the remaining 50 per cent. In addition, Panther will be required to pay Usha a bonus of $1-million upon delineation of an inferred resource or higher resource classification at the RR property totalling at least 10 million tonnes at a minimum grade of 1 per cent lithium oxide. 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 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, B.C., Usha's portfolio of strategic properties provides target-rich diversification and includes Southern Arm, a copper-gold volcanogenic massive sulphide project in Quebec, and Jackpot Lake, a lithium brine project in Nevada. Usha trades on the TSX Venture Exchange under the symbol USHA, on the OTCQB exchange under the symbol USHAF and on the Frankfurt Stock Exchange under the symbol JO0. We seek Safe Harbor.