Stria Lithium Grants Cygnus Metals a Two-Year Extension on Pontax Earn-In Agreement Stria Lithium, Inc.
Page | 1
69
RELEASE: IMMEDIATE
T
SX: SRA.V
Stria Lithium Grants Cygnus Metals a Two-Year Extension on Pontax Earn-In
Agreement
Stria Lithium, Inc.
(TSX-V: SRA, OTC: SRCAF, and FRANKFURT: S35A)
Ottawa, ON – May 23, 2025 - Stria Lithium Inc. (TSXV:SRA) (“Stria” or the “ Company”) is pleased to
announce that it has reached a mutual agreement with its partner, Cygnus Metals Limited (ASX: CY5, TSXV:
CYG, OTCQB: CYGGF) to extend the timeline of the second stage of Cygnus’s earn-in agreement on the Pontax
Lithium Project, located in the James Bay region of Quebec (“Pontax”).
In July 2023, Cygnus successfully completed the first stage of the earn -in, acquiring a 51% interest in Pontax
by investing C$4 million in exploration expenditures and issuing 9,129,825 fully paid ordinary shares to Stria.
Reflecting the collaborative and constructive relationship between Stria and Cygnus, both parties have agreed
to extend the timeline for the second stage of the earn -in by an additional 24 months. This extension provides
Cygnus with increased flexibility a nd a stronger runway to continue its exploration efforts and earn a further
19% interest, bringing its potential total ownership of the project to 70%.
Under the revised terms, Cygnus will now have until October 2027 to invest an additional C$2 million in
exploration activities at Pontax and make a C$3 million cash payment to Stria.
As consideration for the extension, and subject to approval from the TSX Venture Exchange, Cygnus will
issue 300,000 ordinary shares to Stria at a deemed price of A$0.105 per share (based on the ASX closing price
on April 1, 2025). These shares will be voluntarily escrowed for a period of 12 months following issuance.
“This extension demonstrates our strong and aligned commitment with Cygnus Metals to unlock the long-term
value of the Pontax Lithium Project,” said Dean Hanisch, CEO of Stria Lithium. “We look forward to continued
collaboration and to advancing the potential of Pontax as a strategically significant lithium asset in Quebec.”
About Stria Lithium
Stria Lithium (TSX-V: SRA) is an emerging resource exploration company developing Canadian lithium reserves to meet
legislated demand for electric vehicles and their rechargeable lithium-ion batteries. The Company is committed to growth
through responsible and efficient exploration and development of its mining assets.
Stria’s Central Pontax Lithium Project covers 36 square kilometres, including 8 k m of strike along the prospective
Chambois Greenstone Belt. The region, known as the Canadian “Lithium Triangle,” is one of only a few known sources of
lithium available for hard rock mining in North America. Stria’s Pontax Central Project Joint Venture with Cygnus Metals
now has a maiden JORC-compliant inferred mineral resource estimate (MRE) of 10.1Mt at 1.04% Li2O based on the central
area of the known mineralisation.
This JORC estimate establishes Pontax Central as a s ignificant occurrence in the emerging James Bay lithium region.
Cygnus Metals, being an ASX issuer, adhered to Australian JORC Code 2012 guidelines, meaning that such mineral
resource estimate is not necessarily compliant with CIM and National Instrument NI 43-101 standards and the Company is
not considering them as such at this time.
Page | 2
Cygnus Metals is committed to fully funding and managing the current two -stage exploration and drilling program to a
maximum of $10 million at Stria’s Pontax property and will also pay Stria up to $6 million in cash. In return, Cygnus may
acquire up to a 70% interest in the property. Cygnus has fulfilled its stage 1 requirements within the agreement and has
now earned its 51% interest in the property.
As momentum builds for the green energy revolution and the shift to electric vehicles, governments in Canada and the U.S.
are aggressively supporting the North American lithium industry, presenting the industry and its investors with a rare, if
not unprecedented, opportunity for growth and prosperity well into the next decade and beyond.
Stria is committed to exceeding the industry’s environmental, social and governance standards. A critical part of that
commitment is forging meaningful, enduring and mutually beneficial relationships with local communities and stake -
holders, and engaging openly and respectfully as neighbours and collaborators in this exciting project that has the potential
to create lasting jobs and prosperity.
The scientific and technical content disclosed herein was reviewed and approved by Réjean Girard, P.Geo and president of
IOS Services Geoscientifiques Inc, a qualified person as defined under National Instrument 43-101 Standards of Disclosure
for Mineral Projects.
Reference:
• JORC Mineral Resource Estimate of Pontax Project, James Bay Quebec, Brian Wolfe; Duncan Grieve, August
14, 2023.
For more information about Stria Lithium and the Pontax Lithium project, please visit https://strialithium.com
Follow us on:
• Twitter @StriaLithium
• Instagram @strialithium
• Facebook http://www.facebook.com/strialithium
• LinkedIn http://www.linkedin.com/company/stria-lithium/
For more information on Stria Lithium Inc., please contact:
Dean Hanisch
CEO Stria Lithium
+1(613) 612-6060
Investors Relations, Stria Lithium Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the accuracy or adequacy of this release.
Cautionary Note Regarding Forward-Looking Information
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 r eflected 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.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made
and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking information. Please refer to the risk factors disclosed under our
profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as
exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We
undertake no duty to update any of the forward -looking information to conform such information to actual results or to
changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not
to place undue reliance on forward-looking information.