Usha Assets Gives Company Updates

Director Resignation

Navin Kumar Varshney has resigned as a Director of the Firm, efficient instantly.

The Firm extends its deepest gratitude to Mr. Varshney for his extraordinary contributions, steering, and management since co-founding the Firm in 2018. Over the previous seven-plus years, Navin has been instrumental in constructing Usha from inception right into a promising lithium-focused explorer, offering steadfast strategic perception, technical experience, and unwavering dedication by way of each stage of development, together with the profitable development of the White Willow Lithium-Tantalum Venture and a number of key acquisitions and financings.

His a long time of expertise in capital markets, mineral exploration, and company improvement have been invaluable to the board and administration staff, and his imaginative and prescient has laid a robust basis for the Firm’s future success.

Whereas Navin’s day-to-day involvement might be missed, the Firm is grateful that he’ll stay accessible to the Firm in an advisory capability. On behalf of the board and administration, the Firm thanks him sincerely for his time, knowledge, and tireless efforts, and needs him all the easiest in his future endeavours.

White Willow Property

Additional to its press launch dated October 24, 2025, the Firm is happy to announce that it’s persevering with to proceed with the transaction described therein, whereby Usha might be promoting 489 mineral claims that type part of the White Willow challenge (the “Venture“) to Totec Assets Ltd. (“Totec“) as a part of Totec’s qualifying transaction on the TSX Enterprise Trade.

Traditionally, the Firm has referred to the Venture as a set of mineral claims assembled from six (6) separate possibility agreements:

1. White Willow, 712 unpatented mining claims, March 15, 2023

2. Nym Lake, 8 unpatented mining claims, March 29, 2023

3. Rubidium Ridge, 141 unpatented mining claims, July 31, 2023

4. Bingo East, 21 unpatented mining claims, March 23, 2024

5. Bingo West, 86 unpatented mining claims, March 23, 2024

6. Abiwin, 38 unpatented mining claims, April 16, 2024

Following completion of the transaction with Totec, the Firm will nonetheless have underneath possession or possibility the next 4 (4) properties that type a part of the Venture and, the Firm will refer to every of the next remaining elements of the Venture individually:

1. Nym Lake (underneath choice to earn 100%)

2. Rubidium Ridge (100% owned)

3. Bingo East (100% owned)

4. Bingo West (100% owned)

The Abiwin property was impaired by the Firm within the second quarter and is now not a part of the Firm’s challenge portfolio.

Jackpot Lake Property

Additional to its press launch dated Might 12, 2025, the Firm proclaims that it’s now not continuing with its proposed sale of as much as a 90% curiosity within the Jackpot Lake property to Stardust Energy Inc. (“Stardust“). Stardust’s exclusivity expired on June 30, 2025 and, following current exercise within the lithium market, the Firm has elected to proceed to advance the challenge by itself. The Firm is progressing with its Plan of Operations and can intention to drill Jackpot Lake in FY2026 following the profitable receipt of obligatory permits.

About Usha Assets Ltd.

Usha Assets Ltd. is a North American mineral acquisition and exploration firm targeted on the event of high quality essential metallic properties which might be drill-ready with high-upside and enlargement potential. Primarily based in Vancouver, BC, Usha’s portfolio of strategic properties offers target-rich diversification and contains Southern Arm, a copper-gold VMS challenge in Quebec, Jackpot Lake, a lithium brine challenge in Nevada and White Willow, a lithium pegmatite challenge in Ontario. Usha trades on the TSX Enterprise Trade underneath the image USHA, the OTCQB Trade underneath the image USHAF and the Frankfurt Inventory Trade underneath the image JO0.

For added data, please go to www.usharesources.com or contact:

Deepak Varshney
778-899-1780
data@usharesources.com

Neither TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.

Ahead-Wanting Statements

This information launch contains “forward-looking data” underneath relevant Canadian securities laws. Such forward-looking data contains, however just isn’t restricted to, statements relating to the completion of the proposed sale of claims to Totec, the Firm’s plans to advance the Jackpot Lake property and drill in FY2026, and Navin Varshney’s persevering with advisory position. This data relies on administration’s present beliefs and is topic to a lot of estimates and assumptions, together with the profitable completion of the Totec transaction and the receipt of all obligatory permits for Jackpot Lake. Such data is topic to recognized and unknown dangers, uncertainties, and different elements which will trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking data, together with, however not restricted to: normal enterprise, financial, aggressive, political and social uncertainties; the chance that the Totec transaction doesn’t shut; the shortcoming to acquire permits; precise outcomes of exploration actions; and different dangers widespread to the mining business. Readers are cautioned that the foregoing checklist just isn’t exhaustive.

The Firm is an exploration stage firm. Exploration is very speculative in nature, includes many dangers, and will not outcome within the discovery of mineral deposits that may be mined profitably. The Firm has no mineral reserves on any of its properties. Consequently, there could be no assurance that forward-looking statements will show to be correct, and precise outcomes and future occasions might differ materially. The Firm undertakes no obligation to replace or revise any forward-looking data, whether or not because of new data, future occasions or in any other case, besides as required by legislation.

SOURCE: Usha Assets Ltd.

View the unique press launch on ACCESS Newswire