American Marconi Wireless News - Panther Minerals Earns In Under Rubidium Ridge Project Option

The RR Property remains subject to a 2.0% net smelter returns royalty (the "NSR") in favour of the Company. Panther retains the right to repurchase 50% of the NSR for $1,000,000 and holds a right of first refusal to acquire the remaining 50%.

In addition, Panther is required to pay the Company a bonus of $1,000,000 upon delineation of an inferred resource or higher resource classification totaling at least 10 million tonnes at a minimum grade of 1% Li₂O.

The Transaction qualified as an "Exempt Transaction" for the Company under TSX Venture Exchange Policy 5.3 (Acquisitions and Dispositions of Non-Cash Assets).

About Usha Resources Ltd.

Usha Resources Ltd. 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, BC, Usha's portfolio of strategic properties provides target-rich diversification and includes Southern Arm, a copper-gold VMS project in Quebec, and Jackpot Lake, a lithium brine project in Nevada.

Usha trades on the TSX Venture Exchange under the symbol USHA, the OTCQB Exchange under the symbol USHAF and the Frankfurt Stock Exchange under the symbol JO0.

USHA RESOURCES LTD.

For more information, please call 778-899-1780, email [email protected] or visit www.usharesources.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including, without limitation, statements relating to the Company's strategic plans, the NSR and the bonus payment.

Forward-looking information is based on a number of assumptions, including, but not limited to, assumptions regarding general business and economic conditions, the availability of financing, the ability of Panther to advance exploration activities on the RR Property, and the Company's ability to execute on its business objectives.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: risks related to general economic conditions; volatility in capital markets; the ability of Panther to successfully explore and develop the RR Property; the risk that the anticipated benefits of the Transaction may not be realized; risks inherent in the exploration and development of mineral properties; environmental risks; regulatory risks; and other risks disclosed in the Company's public disclosure documents.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information. The Company undertakes no obligation to update any forward-looking information except as required by applicable securities laws.

SOURCE: Usha Resources Ltd.

View the original press release on ACCESS Newswire

L.Davis--AMWN