Stria Lithium Inc. in partnership with Cygnus Gold Limited announced that it has initiated drilling at its Pontax Lithium Project in the James Bay lithium region of Quebec, Canada. Cygnus advised Stria that the initial-stage ground mapping and sampling has been completed around the main outcrop of the Pontax Project. The campaign focussed on key areas identified from recent LiDAR, high definition aeromagnetics and high- resolution photomosaic.

The initial results of this work have been highly encouraging leading to the discovery of new unmapped pegmatites now identified and sampled with assay results expected mid-December. Landform analysis based on LiDAR has proven effective in targeting area of potential nearly-outcropping occurrences covered by vegetation. The team is in the process of interpreting the results of the mapping and sampling campaign while results from the assays are pending.

Once assays are received, additional targets will be finalised for the ongoing drill program into the Quebec winter. The 10,000m drill program will focus on both resource definition and step out drilling over the next six months. The initial focus of this first stage drill programme is to target down dip and along strike extents of the known high grade Pontax Central out crop with existing known shallow, high grade intercepts of up to 2.6% Li2O at a depth of approximately 12 metres (19.4m downhole).

The spodumene-bearing pegmatites at the main Pontax occurrence do outcrop on a hillcrest protruding surrounding undercover area, where exploration drilling is limited to winter operation. The Pontax Lithium Project is host of a spodumene-bearing pegmatites swarm which outcrops and has been drill tested for over 620m of strike and remains open along strike and at depth. Untested pegmatite outcrops were located north of the main occurrence that have never been drilled and multiple new targets for follow up were identified.

Prior to the onset of the current program, 25 diamond drill holes for ~3,286m have been completed at the project entirely focused upon the known extent of the outcrop. All holes drilled to date have hit spodumene bearing lithium-caesium-tantalum (LCT) pegmatites. Key Points: 10,000m diamond drill program has commenced on schedule, focussing on resource definition and step out exploration drilling; Program includes about 2500 helicopter-supported drilling to be conducted in fall 2022, and about 7500 winter land drilling to be conducted in winter 2022/2023; Historic reconnaissance drilling has already outlined spodumene over a 620m strike length with grades of up to 2.6% Li2O; Cygnus drilling is targeting multiple shallow spodumene bearing pegmatites in the top 150 meters over an initial 1,000 metres strike; Recently completed fieldwork, mapping, airborne magnetics and LiDAR has delivered numerous additional walk-up drill targets; Results from rock chip and channel sampling from numerous unmapped pegmatites across the project collected in the course of recent prospecting program expected next month; Stria holds a contiguous landholding of highly prospective tenure across 10 km strike potential; Historic reconnaissance drilling confirmed spodumene-bearing LCT pegmatites with high-grade shallow intersections.