Anomalous Gold And Copper Results From Lost Basin Soil Sampling Program

VANCOUVER - Usha Resources Ltd. (USHA) reported on the exploration work at the Company's Lost Basin Gold-Copper Project located in Mohave County, Arizona.

Highlights: Exploration work completed over the past six months has identified the potential for a bulk tonnage target; Grab samples from the Ideas Lode West assayed as high as 45.4 g/t Au; this structure containing the gold-bearing quartz veining extends for hundreds of meters and is an exciting new prospect at Lost Basin; Highly anomalous soil samples were identified in a new area of interest, the Red Basin, with 10 samples assaying over 0.2 g/t Au and as high as 11.134 g/t Au; 4 chip samples from the Copper Blowout assayed above 1% Cu and as high as 1.53% Cu over 2 m; Chip samples from Mallory's Trench yielded gold values as high as 2.6 g/t Au over 2 m; Plans under way to trench, detail grid new anomalies and expand soil program to expand on Phase 1 findings in preparation for a fall drilling program; and Usha has completed significant geological fieldwork on Lost Basin including: An airborne geophysics survey consisting of high-resolution airborne magnetics and time-domain electromagnetic data collection over 194-line kilometers at 100 m spacing A mineral alteration mapping survey completed using PhotoSat's high-resolution DigitalGlobe WorldView-3 imaging satellite; A detailed review of historical geological work and GIS digitization and orientation of historic data; and Geologic mapping, soil, and rock sampling. In total, 250 rock samples and 48 soil samples were collected and submitted for analyses.

The Company has had to wait an extraordinarily long period to receive these assay results due to the impacts of COVID and high sample volumes at assay labs. The target areas for sampling and mapping were predominantly in the north and west sections of the property and included trenches, shafts, adits, pits, and in the vicinity of historical RC drilling which identified a 13.7 m interval that averaged 0.69% Cu and a 1.5 m interval which graded 0.8 g/t Au and historical percussion drilling which identified anomalous Au grades as high as 2.27 g/t over a 6 m interval and 1.7 g/t Au over 26 m. Key areas of the property mapped and sampled included the Bluebird Mine, Copper Blowout Mine, Ideas Lode East and West, Wall Street, Gold Hill Mine, and Mallory's Trench.