Usha completes option payment for Rubidium Ridge

Executive Summary

• Usha Resources exercised its option and acquired a 100 % undivided interest in the Rubidium Ridge property (141 unpatented mining claims) by issuing 400,000 common shares at a deemed price of $0.035 per share.
• The issuance constitutes the final payment under the July 31 2023 option agreement, giving Usha full ownership of the property adjacent to its White Willow lithium pegmatite project.
• Shares issued are subject to a four‑month hold period plus the TSX Venture Exchange hold requirements.

Key Details

• Option Exercise: 400,000 common shares issued at $0.035 per share (deemed price) to vendors.
• Consideration: Represents the final payment owed under the option agreement dated July 31 2023.
• Property Acquired: Undivided 100 % interest in 141 unpatented mining claims known as the Rubidium Ridge property, located in the Thunder Bay mining division of Ontario, adjacent to White Willow.
• Hold Restrictions: Shares subject to a four‑month hold period and TSX Venture Exchange hold requirements.
• Strategic Significance: Completes Usha’s acquisition of the Rubidium Ridge property, expanding its portfolio of critical metal projects and providing additional drill‑ready land near existing lithium assets.