Canadian Lithium Projects Set to Benefit from US President Biden’s New Climate Bill
Canadian Lithium Projects Set to Benefit from US President Biden’s New Climate Bill
KINGSTON, ONTARIO, September 8, 2022 - Stria L ithium Inc. (TSX.V:SRA) (Stria or “The
Company”) welcomes the signing in to law of last mont h’s historic climate bill by US President
Joe Biden that will establish preferential tax treatment for electric vehicles made anywhere in
North America, potentially benefitting companies such as Stria that are developing lithium projects
in Canada.
This bill, passed by US Congress in August, could have tremendous implications for Canada’s role
in the production of clean transportation. The new bill allocates $US 500 million towards the
development of North American projects that would lessen dependence on America’s rivals,
including China, for minerals critical to the development and manufacture of electric vehicle (EV)
battery components. The ripple effects of this bi ll will likely have a positive impact on Canadian
mining companies focused on critical minerals exploration, including Stria Lithium, which is
advancing its Pontax spodumene lithium project in Northern Québec in partnership with
Australian-based Cygnus Gold. Stria is also ex ploring for PGMs (plati num group metals) at its
Romer property located in the Labrador Trough sector of Nunavik in Northern Québec.
“Biden’s new climate law shows that the US is serious about finding secure, reliable, North
American sources of lithium and other critical minerals,” said Stria’s CEO, Dean Hanisch. “As
new battery manufacturing plants are announced and demand for EVs continues to grow, the need
for the raw materials for those batteries, such as lithium, will be greater than ever before. The
world is shifting to greener modes of transportation, making it essential to develop sources for
these raw materials that Americans can rely on, and we are pleased to see that they are supporting
Canadian critical minerals projects like ours in preparing for this shift. Stria Lithium plans to take
full advantage of this support.”
The White House’s U.S. – Canada / Canada - U.S. Supply Chains Progress Report, published in
June 2022, explicitly includes Canada as a domestic source under the U.S. Defense Production
Act and mentions the potential for co-operation opportunities on critical minerals between the
two countries.
About Stria Lithium Inc.
Stria Lithium is a Canadian junior mineral expl oration 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.
For more information about Stria Lithium a nd the Pontax Lithium project, please visit
https://strialithium.com.
For more information on Stria Lithium Inc., please contact:
Kimberly Darlington
Communications, Stria Lithium Inc.
Dean Hanisch
CEO, Stria Lithium Inc.
(613) 612-6060
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Cautionary Note Regarding Forward-Looking Information
This news release contains "for ward-looking information" within the meaning of the applicable
Canadian securities legislation that is base d on expectations, estimates, projections and
interpretations as at the date of this news releas e. The information in this news release about the
closing of the Transaction and the Offering; the approval of the TSXV relating to the Transaction
and the Offering; and any other info rmation herein that is not a hi storical fact may be "forward-
looking information".
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prices; delays in the development of projects; other risks involved in the mineral exploration and
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Although Stria believes that the assumptions and factors used in preparing the forward-looking
information in this news release are reasonabl e, undue reliance should not be placed on such
information, which only applies as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed time frames or at all. Stria disclaims any intention or
obligation to update or revise any forward-lo oking information, whether as a result of new
information, future events or otherwise, other than as required by law.