Stria Starts Strategic Transformation with Acquisition of First Gold Royalty Highly experienced royalty specialists appointed as Chief Executive and Vice President as part of plan to establish a portfolio of precious metals royalties
Stria Starts Strategic Transformation with
Acquisition of First Gold Royalty
Highly experienced royalty specialists appointed as Chief
Executive and Vice President as part of plan to establish a
portfolio of precious metals royalties
Ottawa, Ontario--(Newsfile Corp. - April 8, 2026) -
Stria Lithium Inc. (TSXV: SRA)
is pleased to
announce the execution on April 8, 2026, of an investment agreement (the "
Investment Agreement
")
with Alicanto Minerals Ltd. (ASX: AQI)
("
Alicanto
") for the acquisition of a net smelter return (NSR)
royalty
of up to 2%
on the advanced West Australian Mt Henry Gold Project (the "
Acquisition
") and the
appointment of experienced Royalty Company Executives to transform its business into a mining royalty
business. The Acquisition constitutes a change of business under the policies of the TSX Venture
Exchange (the "
Exchange
").
Following completion of the Acquisition and the transactions contemplated under the Investment
Agreement, Stria will focus its activities on the mining royalty business and intends to use its working
capital to acquire more precious metals royalties.
Key points of the royalty acquisition and proposed change of business
Creation of a new royalty company that combines the unique skill sets of a highly
successful project generation team with a proven royalty management team
Stria has executed its first deal as part of this strategy, securing a net smelter return
(NSR) royalty on the Mt Henry Gold Project in Western Australia
Mt Henry hosts a JORC-compliant historical Measured & Indicated Resource
1
of 22.1Mt @
1.2 g/t for 822,000oz and an Inferred Resource of 2.4Mt @ 1.2 g/t for 94,000oz
2
. The
resource is shallow and completely open, and is currently being advance through a
50,000m drill program, making it ready positioning it for immediate growth
Following the Acquisition - Management Appointments
Following the completion of the Acquisition, Stria will appoint experienced royalty
company executives Adam Davidson and Tyron Rees as Chief Executive Officer and Vice
President of Corporate Development respectively
Mr Davidson and Mr Rees, who most recently held senior executive positions at ASX200
Deterra Royalties (ASX: DRR), were also the founders of Trident Royalties, which they
grew from a US$20m shell company to its acquisition by Deterra Royalties for ~US$200m
Experienced mining and resources executives, Stephen Parsons and Michael Naylor
have been appointed as advisors to the Board on growth and acquisitions post-
transaction. Experienced geologist Sam Brooks to join Stria as Project Generation
Geologist
Mr Parsons, Mr Naylor and Mr Brooks are the founders of several highly successful ASX-
listed precious metals and copper companies including ASX 200 companies Bellevue
Gold (ASX: BGL), Gryphon Minerals (ASX: GRY), Firefly Metals (ASX: FFM) (TSX: FFM),
and Andean Silver (ASX: ASL)
The team has been successful in identifying resource assets that have a clear pathway to
rapid growth, production and revenue
Private Placement
Concurrently with the Acquisition, Stria will complete a non-brokered private placement
(the "Placement") of its common shares for minimum proceeds of a CDN$12.0 million via
the issuance of 16,000,000 common shares at a price of CDN$0.75 per common share.
Stria intends to use its strong working capital position and experienced team to build a
portfolio of royalty assets, predominantly in precious and base metals while maintaining
flexibility to capitalise on other emerging opportunities
About the Mt Henry Gold Project
The Mt Henry Gold Project is an advanced brownfields asset located in the prolific
Norseman area in Western Australia
Mt Henry hosts a historical JORC Mineral Resource of Measured & Indicated 22.1Mt @ 1.2
g/t gold for 822,000 ounces and Inferred 2.4Mt @ 1.2 g/t gold for 94,000 ounces and sits
within a 16km mineralized corridor; The mineralization remains completely open along
strike and down dip with clear potential for rapid Resource growth and broader district-
scale upside
34
Alicanto recently announced the commencement of a 50,000m drill program at Mt Henry,
with diamond drilling commenced in early March 2026, aimed at driving Resource growth
and advancing the project toward a potential mining operation
5
The project benefits from simple geometry and significant widths of mineralization from
surface, making it highly amenable to a potential open pit mining operation
The historical mineral resources
6
at the Project are reported inside pit shells completed at
an assumed gold price of ~A$2,160/oz (approximately US$1,550/oz); With gold now
between A$6,700-A$7000/oz (approximately US$5,000/oz), there is clear potential for
larger pit shells and evaluation of broader development scenarios
7
Prior drilling highlights the quality of the asset with substantial widths and grades from
unmined areas revealing the scale and continuity of mineralization, results include
8
:
18.0m @ 16.4g/t gold from 14m
(hole MHRD0121)
19.0m @ 9.0g/t gold from 29m
(hole NMC005)
64.0m @ 3.9g/t gold from 65m
(hole 5HENC068)
39.0m @ 5.2g/t gold from 100m
(hole NHC122)
18.0m @ 9.8g/t gold from 1m (including 5m @ 33.1g/t gold from 8m)
(hole NSRD0004)
Mineralization trends for 16km with only shallow (typically <50m) drilling previously
completed on broad centres, with numerous significant intersections outside of the
resources to follow up including
9
:
10.0m @ 88.2g/t gold from 5m (including 4m @ 208.8g/t gold from 4m)
(hole 4IPP13)
13.0m @ 13.3g/t gold from 5m (including 3m @ 41.8g/t gold from 9m)
(hole 84IPP26)
2.0m @ 46.3g/t gold from 6m
(hole NBC043)
12.0m @ 6.1g/t gold from 17m
(hole NTC003)
Details of the Proposed Transaction
The parties entered an investment agreement and royalty deed for the acquisition by Stria
of a 1% NSR (the "Royalty") on the Mt Henry Gold Project, located in Western Australia
(the "Project")
Stria will pay an amount of A$5m (CDN$4.8m) in cash for the Royalty and will issue
4,000,000 common shares to Mt Henry owner Alicanto Minerals Limited (ASX: AQI) on the
closing date
Stria also holds an option to purchase at its discretion an additional 1% NSR for a further
cash payment to Alicanto of A$10m (CDN$9.7m) at Stria's election and before 30 days of
Alicanto announcing 2.0Moz of JORC resources
After giving effect to the Acquisition and the completion of the Placement of 12,500,000
shares, Alicanto will hold approximately 6.5% of the issued and outstanding common
shares of Stria.
The Acquisition remains subject to several conditions, including obtaining all necessary
regulatory and corporate approvals, including that of the Exchange, the filing of a
technical report compliant with National Instrument 43-101 -
Standards of Disclosure for
Mineral Projects
("NI 43-101")on the Project in accordance with Canadian securities laws,
among other customary closing conditions. The Acquisition will require shareholder
approval under the policies of the Exchange, which the Company anticipates receiving
by way of written resolution of its shareholders
.
Stria Lithium Chairman Jeff York said: "We are delighted to embark on this new chapter with a high-
growth royalty strategy backed by an extremely successful and experienced team.
"Adam and Tyron are royalty specialists with an outstanding track record and Steve and Mike are
highly successful resources executives who have generated exceptional shareholder returns.
"The combination of this team, our balance sheet, access to capital and deal flow will enable Stria to
build a significant portfolio in this rapidly growing sector.
"The acquisition of the Mt Henry royalty is a strong start in our new strategy. With Alicanto moving
quickly to create value at Mt Henry through drilling, Stria is well-positioned to share in the upside as
the project advances towards production.
Management Appointment
Stria is pleased to announce that, subject to and following the closing of the Acquisition, it will appoint
experienced royalty company executives Adam Davidson as Chief Executive Officer, Tyron Rees as
Vice President Corporate Development, and Sam Brooks as Project Generation Geologist. Current
Chief Executive Officer Dean Hanish will remain on the board and transition to non-executive director.
Mr Davidson and Mr Rees founded AIM-listed Trident Royalties. Trident grew from a small AIM-listed
shell into a diversified mining royalty company over a relatively short period, demonstrating a highly
effective growth and acquisition strategy. From its listing, the company rapidly assembled a portfolio of
royalties and offtakes across multiple commodities and jurisdictions through disciplined deal-making
and creative financing structures. Over four years, Trident expanded to holding more than twenty assets
acquired through a series of transactions, building meaningful market awareness and liquidity in the
process. The strategy culminated in the acquisition of the company by Deterra Royalties in 2024 for
circa US$200 million.
Mr Parsons and Mr Naylor are the founding Directors of several highly successful ASX-listed resources
companies having identified, acquired and funded projects, devised and implemented exploration and
development strategies and created substantial shareholder value.
Mr Parsons and Mr Naylor founded ASX200 Bellevue Gold Limited (ASX: BGL) leading the business
through discovery, funding, development and construction of the 3 million oz Bellevue gold mine in
Western Australia.
They are also founding directors and executives of ASX300 (and TSX) FireFly Metals and were
instrumental in the successful acquisition and subsequent growth of the Green Bay Copper-Gold Project
in Newfoundland, Canada.
Prior to that Mr Parsons was the founding Managing Director and Mr Naylor was the Chief Financial
Officer of Gryphon Minerals Ltd, which discovered a large multi-million ounce gold project in Burkina
Faso, West Africa and grew to be an ASX200 company prior to its takeover by a significant North
American gold company and becoming a major gold producing mine.
Mr Brooks complements this track record, having served as Chief Geologist of Bellevue Gold, and
previously as a director of Auteco, now FireFly Metals, as well as a key technical geologist at Gryphon
Minerals.
Royalty Purchase
Stria has entered into the Investment Agreement for the acquisition of up to a 2% NSR royalty on the
Mount Henry Gold Project in Western Australia. For further information on the Mt Henry Gold project,
please refer to the recent ASX announcements by Alicanto Minerals Ltd. which can be accessed at:
https://www.alicantominerals.com.au/asx-announcements/
.
The information contained in the following table is reproduced from Alicanto Minerals (ASX: AQI) press
release 17
th
December 2025:
Table 1: Details of Transaction
Project
All underlying tenements which form the Mt Henry Gold Project, Western
Australia
Historical
Mineral
Resource
10
JORC Mineral Resource of Measured & Indicated 22.1Mt @ 1.2 g/t gold for 822,000
ounces of and Inferred 2.4Mt @ 1.2 g/t gold for 94,000 ounces
Commodity
gold and all metals, excluding lithium
NSR
Purchase
1.0% on payment of A$5 million
Option
1.0% on payment of A$10 million
Option Expiry
At Stria's election and before 30 days of Alicanto announcing 2.0Moz of JORC
resources
The Mt Henry Gold Project is located within the prolific Norseman-Kalgoorlie greenstone belt in the
Eastern Goldfields of Western Australia, a gold jurisdiction that hosts multiple long-life operations and
multi-million-ounce deposits. The Mt Henry Gold Project Resource comprises three deposits; Mt Henry,
Selene and North Scotia - located along a 16km mineralized corridor and supported by extensive
drilling, consistent mineralization and a substantial technical dataset.
Together, the deposits contain a historical JORC 2012 Resource of 822,000 ounces of Measured and
Indicated and 94,000 ounces of Inferred. All mineralization is near-surface and completely open along
strike and down dip across the corridor.
Table 2: JORC 2012 Mineral Historical Resource Estimate for Mt Henry Gold Project, Western
Australia
Measured
Indicated
Measured and Indicated
Tonnes
(kt)
Grade
(g/t Au)
Gold
(koz Au)
Tonnes
(kt)
Grade
(g/t Au)
Gold
(koz Au)
Tonnes
(kt)
Grade
(g/t)
Gold
(koz Au)
11,907
1.2
444
10,172
1.2
378
22,079
1.2
822
Inferred
Tonnes (kt)
Grade (g/t)
Gold (koz Au)
2,424
1.2
94
Notes:
1
.
Mineral Resources are classified and reported in accordance with the 2012 JORC Code as at 17th December 2025.
2
.
Mineral resources have been reported in a pit shell at A$2,160/oz gold price and at a 0.4g/t gold cut-off grade.
3
.
Numbers may not add up due to rounding.
The historical estimate was prepared in accordance with the JORC Code (2012) and not under NI 43-
101. A Qualified Person has not done sufficient work to classify the estimate as a current mineral
resource and the issuer is not treating the historical estimate as a current mineral resource.
Outside the main deposit areas, only limited shallow drilling (typically less than 50m deep) has been
completed. This work has demonstrated mineralization along the entire horizon, with numerous
significant results requiring follow-up drilling.
The Project's Mineral Resources are located on granted mining leases with sealed-road access
approximately 1.5km east of the Coolgardie-Esperance Highway, benefiting from proximity to
established regional infrastructure and supporting efficient progression of drilling and development
activities.
The Mt Henry Gold Project is located within a well-established gold district that hosts operations and
development projects owned by Northern Star, Gold Fields, Westgold, Minerals 260, Focus Minerals
and Black Cat Syndicate. The presence of these companies along the same highly endowed greenstone
belt highlights the scale and proven endowment of the region.
Alicanto recently announced the commencement of drilling at Mount Henry targeting extensions to the
historical Resource.
Cautionary Note: Information regarding the Mt Henry Gold Project is derived from public sources and the
Qualified Person responsible for the review and approval of the technical information disclosed in this
news release has not verified the information relating to this Mt Henry Gold Project.
Equity Raising
Concurrently with the Acquisition, Stria will carry non-brokered private placement (the "
Placement
") of
its common shares for minimum (and maximum) proceeds of CDN$12.0 million via the issuance of
16,000,000 common shares at a price of CDN$0.75 per common share. The Placement is scheduled to
close concurrently with the Company receiving approval of the Acquisition from its shareholders.
Pursuant to the Investment Agreement, the parties have an outside date of July 7, 2026 to complete the
Acquisition.
Proceeds from the Placement, in combination with existing cash, will be applied to the Cash
Consideration for the Acquisition; and for working capital to fund future evaluations and acquisitions.
Following closing of the Placement, Alicanto will emerge as a 6.5% shareholder in Stria.
The Placement is conditional on the Company receiving approval of the Acquisition from its
shareholders. All securities issued will be subject to a four-month and one day hold period pursuant to
securities laws in Canada.
Finders' fees may be payable to qualified parties in accordance with the
policies of the Exchange.
Indicative Timetable
The expected timetable for the Acquisition and the closing of the Placement is provided in the table
below which is subject to adjustment as the Acquisition remains subject to regulatory and shareholder
approvals:
Event
Date
Trading Halt
April 8, 2026
Completion of Subscription Agreement by each
individual subscriber for C$10 million Placement
On or around April 10, 2026 (Note: additional
subscription agreements may be signed until
Closing)
Approval of the Acquisition by written resolution of
the shareholders of Stria (subject to Exchange
approval)
On or around June 2, 2026
Closing of Acquisition and Placement
On or around, June 9, 2026
Stria to recommence trading
On or around, June 11, 2026
Effect on Capital Structure
The effect of the Acquisition and the Placement on Stria's issued capital is set out below:
Capital Structure
Shares
%
Existing Securities
41,536,696
67.5
Placement Securities
16,000,000
26.0
Consideration Shares
4,000,000
6.5
Total
61,536,522
100.0
Board Approval
The Board of Directors of Stria has unanimously approved the Acquisition.
Preliminary News Release
This is a preliminary news release regarding the Acquisition, additional press releases containing
additional information on the Acquisition will follow in accordance with the policies of the Exchange.
Other TSX-V Matters
The Acquisition constitutes an arm's length transaction under the policies of the TSX Venture Exchange
and no finder's fee is payable in connection therewith.
Trading Halt
Trading in the Company's common shares on the Exchange will be halted before the opening of the
market on Tuesday April 7, 2026. It is anticipating that trading in the Company's common shares will
remain halted until closing of the Acquisition.
For more information about Stria Lithium, please visit
https://strialithium.com
.
Dean Hanisch
CEO Stria Lithium
+1(613) 612-6060
Media
Paul Armstrong
Read Corporate
+61 8 9388 1474
Investors Relations, Stria Lithium Inc.
.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brian
Wolfe, B. Sc., MAIG, Principal Consultant Geologist and an independent Qualified Person for the
purposes of NI 43-101. Brian Wolfe is a consultant to Stria.
Historical Mineral Resource Disclosure
While the historical estimates on the Mt Henry Gold Project were reportedly prepared in accordance with
the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves
("
JORC Code
") (2012) in effect at the time, consistency with current standards is not assured. The
Company considers these historical estimates to be relevant as they indicate the potential presence and
scale of mineralization on the Mt Henry Gold Project. The historical resource categories used are
consistent with those defined in NI 43-101 and the CIM Definition Standards for Mineral Resources and
Mineral Reserves; however, a QP has not done sufficient work to classify these historical estimates as
current mineral resources, and the Company is not treating them as current mineral resources.
The Mt Henry historical resource estimate was reported on the 17
th
of December 2025 0n the Australian
securities exchange (ASX) by Alicanto Minerals Ltd prepared using the JORC code of reporting.
Reporting classification is consistent with the CIM code of reporting. The historical resource estimate
has been reviewed by the QP who has confirmed the historical estimate has been appropriately
estimated.
To the extent known and insofar as existing available documentation indicates, the historical estimate
described can be considered to be reliable under the JORC code (2012). The description of work
undertaken, assumptions and chosen parameters demonstrate competency in the procedures and
workflow required. Although historical data back to 1980 has been included, sufficient detail is
maintained in the available database to ensure integrity. Only suitable drilling (Diamond core and RC)
and surveying techniques have been employed. Sampling and assaying techniques described are to
industry standard. The estimation methodology, Ordinary Kriging with Localised Uniform Kriging post
processing are standard methods and appropriate for the style of mineralization. The reporting
classification of Measured, Indicated and Inferred is consistent with the CIM code of reporting. Applied
mining factors and assumptions appear reasonable. A history of mining with good reconciliation of mine
claimed to mill recovered provides confidence in the accuracy of the estimate.
Key assumptions and parameters of the December 2025 historical Resource Estimate reproduced from
the AQI ASX press release dated 17
th
of December 2025 are tabulated below.
Criteria
Explanation
Commentary
Database Integrity
Measures taken to ensure that data has not been
corrupted by, for example, transcription or keying errors,
between its initial collection and its use for Mineral
Resource estimation purposes.
Data validation procedures used.
As new data was acquired it passed through a
validation approval system designed to pick up any
significant errors before the information is loaded into
the master database.
The Competent Person, Mr Palich, has undertaken
sufficient independent checks on the database integrity
to conclude there are no material discrepancies
A visual review of down hole survey outcomes has
shown no material deviations
Site Visits
Comment on any site visits undertaken by the
Competent Person and the outcome of those visits.
If no site visits have been undertaken indicate why this
is the case
A site visit was made by the Competent Person, Mr Ben
Palich, on December 9, 2025.
During the visit Mr Palich discussed the logging
facilities, geological and logging processes, sampling
and core handling process and operating procedures.
Additionally, existing open pit excavations were
reviewed, and Mr Palich observed the location of a
number of collar locations from the drilling.
Geological
interpretation
Confidence in (or conversely, the uncertainty of) the
geological interpretation of the mineral deposit.
Nature of the data used and of any assumptions made.
The effect, if any, of alternative interpretations on
Mineral Resource estimation.
The use of geology in guiding and controlling Mineral
Resource estimation.
The factors affecting continuity both of grade and
geology
Confidence in the geological interpretation at MHGP is
high. The current geological interpretation has been a
precursor to successful mining over the years
The data and assumptions used do suggest that any
significant alternative geological interpretation is
unlikely.
Geology (lithological units, alterations, structure,
veining) have been used to guide and control Mineral
Resource estimation for MHGP.
There is a strong
geological control to the mineralisation interpretation.
The deposit is essentially strata hosted within a sheared
Banded Iron Formation (BIF). The shear is essentially
contiguous along the upper contact of the BIF and an
overlying mafic unit
No alternative interpretations are currently considered
viable.
Geological interpretation of the deposit was carried out
using a systematic approach to ensure that the resultant
estimated Mineral Resource was both sufficiently
constrained, and representative of the expected sub-
surface conditions. In all aspects of resource estimation
the factual and interpreted geology was used to guide
the development of the interpretation.
Geological matrixes were established to assist with
interpretation and construction of the estimation
domains.
The structural regime is the dominant control on
geological and grade continuity in the Goldfields.
Lithological factors such as rheology contrast are
secondary controls on grade distribution.
Low-grade stockpiles are derived from previous mining
of the mineralisation styles outlined above.