OTTAWA, ONTARIO – January 18, 2023 - Stria Lithium Inc. (TSXV:SRA) (“Stria” or the “Company”) is pleased to report positive results from initial mapping and outcrop sampling conducted by partner Cygnus Gold Ltd. (“Cygnus”) in October 2022 at the Company’s flagship Pontax Lithium property, located in west-central Eeyou Istchee James Bay  (EIJB) Territory of northern Québec.

       Highlights:

• During the fall (between October 20-31, 2022) mapping and prospecting programs conducted on the Pontax Lithium project revealed a series of pegmatite dykes located outside of the main Pontax spodumene pegmatite dyke prospect (“Pontax Central Target”). Ten (10) channels totalling 28 metres in length were cut across these dykes with a diamond saw and 19 samples, one metre in length each, were collected and submitted for assaying.   

• Outcrop channel sampling* of a spodumene bearing pegmatite outcrop found 80 metres southwest and along strike of the Pontax Central target has returned 1.89% LiO over an apparent width of 4.0 metres. This pegmatite extends to the edge of the local cover of fluvioglacial sediments suggesting potential for lateral continuity under cover (Figure 1).  Cygnus plans to test the southwest extension of the spodumene pegmatite dyke swarm at the Pontax Central target as part of the ongoing 14,000 m drilling program.  

• At the adjacent Pontax North target, mapping has revealed the presence of new spodumene-bearing pegmatites up to 5 metres wide at surface. Initial channel sampling* of three dykes from three outcrops returned anomalous LiO grades of 0.53% LiO over 3.0 apparent metres, 2.05% LiO over 2.0 apparent metres and 0.41% LiO over 1.0 apparent metre, respectively. These new pegmatites are parallel to those of the Pontax Central target, located approximately 100 metres to the northwest and are distributed over a northeast strike length of 160 metres (Figure 1). These occurrences will be tested by the ongoing drilling program.  

• Anomalous tantalum results of up to 517 ppm Ta over 2.0 apparent metres were obtained in channel samples in a non-spodumene bearing pegmatite dyke, south-east of Pontax Central target.  A total of nine (9) grab or chip samples from different outcrops also graded more than 100 ppm, and up to 531 ppm Ta, most of which are from non-spodumene bearing pegmatite dykes, outside the Pontax Central target. Tantalum is the second metal of interest in lithium bearing (LCT) pegmatite, and is typically present in the 20-100 ppm range in Pontax Central lithium-bearing dykes.  Its presence in non-lithium bearing dykes was unexpected, and it opens new exploration possibilities. Collectively, anomalous tantalum values were obtained in outcrops within a minimum 2.5 km long, northeast trending corridor near the Pontax Central target.   

* Cautionary note: Channel samples are continuous segments cut with a diamond saw at the surface of outcrops. The measured lengths slightly overestimate the true thickness of the dykes.  

Currently a winter road is under construction in anticipation to mobilize three land-based drill rigs and replace the current heliportable rig onsite at the Pontax lithium project.  Definition drilling will continue over a regular grid on the main Pontax Central target with the objective of establishing a maiden mineral resource estimate by mid-2023. The drilling program also aims to step out from Pontax Central and test regional targets along strike and into Pontax North. Results from the drilling completed late last year are expected in late January.  

Sampling, analytical methods and QA\QC protocols

The fall 2022 mapping and prospecting program at the Pontax Lithium property was conducted jointly by Cygnus Gold Ltd. and IOS Services Géoscientifiques Inc. (IOS) geologists.

Grab samples were collected by a geologist directly on exposed outcrop with the use of a sledgehammer and chisel. Channel samples, one (1) metre in length each and approximately three (3) centimetres wide and three (3) centimetres deep, were collected across pegmatite dykes directly at the outcrop surface. Outcrop, channel, and sample positions were recorded with a sub-metre precision GPS device. Samples were shipped for assaying by road-carrier to SGS Canada Inc. facilities in Rouyn-Noranda. The samples were analyzed by ICP-AES (code GE-ICP91A50) or ICP-MS (code GE-IMS91A50) after sodium peroxide fusion. Quality assurance and quality control procedures include insertion of approximately 20% of control materials, either blank, certified reference material (Oreas 147, Oreas 148, Oreas 149 and Oreas 236) and digestion duplicate, either by contractor or by the laboratory.          

About Stria Lithium

 Stria Lithium is a Canadian junior mineral exploration company with an expanding technology focus and has a 100% interest in the Pontax spodumene lithium project in Northern Québec.

Lithium is a critical metal in the universal fight against global warming. It is a core component of Lithium-ion batteries used for powering electric vehicles and for industrial scale energy storage.

The technical content disclosed in the current press-release was reviewed and approved by Réjean Girard, P.Geo and president of IOS Services Geoscientifiques Inc, a qualified person  as defined under National Instrument NI-43-101.

For more information about Stria Lithium and the Pontax Lithium project, please visit https://strialithium.com

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Dean Hanisch

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Kimberly Darlington

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Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. 

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The technical aspects of the current press release have been reviewed by Réjean Girard, géo. (QC), President of IOS Services Géoscientifiques Inc., a consultant to the Company and a Qualified Person as defined under National Instrument (NI) 43 – 101 Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release.