Q1 2020 Drilling Program Results, Pontax Spodumene Pegmatite Prospect, Pontax Lithium Property
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KINGSTON, ONTARIO – December 2, 2021 – Stria Lithium Inc. (TSX-V: SRA) (OTCQX: SRCAF) (“Stria” or the “Company”) is pleased to report the results from the first six drill holes from the Company’s Q1 2020 step-out drilling program at its Pontax Lithium Property (the “Property”) located in west-central Eeyou Istchee James Bay Territory, Northern Québec. This most recent  drilling program targeted the Pontax spodumene pegmatite prospect, the main occurrence of lithium spodumene pegmatites discovered on the Property to date. The drilling was designed to test the north-eastern and south-western extensions of the spodumene pegmatite zone at a 50 m spacing, as well as to test for dykes inside the footwall of the zone towards the northwest. Analytical results for the five remaining drill holes are expected in the coming weeks.

Highlights:

• Eleven BTW-diameter drill holes were completed for a total of 1,510.5 m drilled (Table 1), with the results of the first six holes being released today.

• A total of 654.3 m of core were sampled and submitted for multi-element geochemical analysis for the current program, of which 189.3 m (29%) represent spodumene bearing pegmatite.

• Results  are for two of the five drill holes positioned to test the extension of the spodumene pegmatite dyke swarm to the Northeast and for four of the five holes targeting a second series of pegmatite dykes  to the Northwest  of the Pontax spodumene pegmatite prospect.  Results from the only step out hole to the Southwest are pending. All six holes reported today intersected spodumene bearing pegmatite dykes grading up to 3.77% Li₂O over a minimum true thickness¹ of 0.7 m (Table 1).

• Best intersection¹: Hole 975-19-018, drilled at -50^o to a vertical depth of 101.0 m on Line 5+50N near the northeastern end of the spodumene pegmatite bearing zone, intersected numerous closely spaced dykes, wth the best intercept being 11.27 m grading 0.91% Li₂O at a vertical depth of 56.28 m (from 80.4 m to 96.5 m; core length: 16.1 m; Table 1), including:
  • 2.84 m¹ grading 1.72% Li₂O (from 84.8 m to 88.85 m; core length: 4.05 m)

• High-grade intercept in Hole 975-19-020, drilled on Line 5+00N at -50^o degrees to a vertical depth 13.58 m, with 3.36 m¹ grading 2.55% Li₂O (from 19.4 m to 24.2 m; core length: 4.8 m).

• The spodumene bearing pegmatite dyke swarm remains open along strike to the northeast and at depth, while thinning out toward the southwest, with a decrease in lithium grades in the footwall towards the Northwest.

• Metabasalt wall rocks were excluded from intersection calculations despite being locally lithium bearing due to the presence of iron bearing holmquisite which is not amenable to lithium hydroxide production.

¹True thicknesses are reported in this news release. The drill holes have been loaded into a 3-D visualization software and the three-dimensional envelope of the mineralized zone has an azimuth of N325^o and dips vertically. Drill holes crosscut the envelope of the mineralized zone at an angle of approximately 45^o degrees. The conversion factor for true thickness is 0.7 of the core intersection length.

“We are encouraged by the initial results from our first round of step-out drilling at the Pontax spodumene pegmatite prospect, which confirms the pegmatite swarm extends over a minimum strike length of 600 m and to a minimum depth of 100 m and is still open to the northeast,” said Jeffrey York, acting President and CEO of Stria. “These latest drilling results will be integrated with the results of our 2017 drilling program to design the next phase infill and extension drilling targeting the Pontax spodumene pegmatite dyke swarm.”

A map showing the location of the drill holes and main mineralized intercepts along with drill sections are available on the Company’s Website at: https://strialithium.com. 

The Q1 2020 drilling program was designed based on the results of the Company’s December 2017 drilling program at the Pontax spodumene pegmatite prospect with seven drill holes completed for a total of 911.4 m drilled. Hole 975-17-014, drilled at -47^o  to a vertical depth of 107 m, yielded the best intercept of the 2017 drilling with 21.39 m¹ grading 1.16% Li₂O at a vertical depth of 48.2 m (from 68.90 m to 99.45 m; core length), including 5.22 m¹ grading 2.18% Li₂O (from 92.00 m to 99.45 m; core length), and 1.15 m¹ grading 3.18% Li₂0 (from 68.9 m to 70.55 m; core length) (for additional details please refer to Stria new release dated November 30, 2018, available on the Company’s Website at https://strialithium.com or at www.sedar.com under Stria Lithium Inc.). The most recent  drilling also builds on the results of historic drilling and channel sampling programs carried out by previous owners of the Pontax Lithium Property in 2009 and 2012. Historic holes (total: 864 m) intersected a swarm of lithium bearing pegmatite dykes of an aggregated thickness of approximately 20 m, with the best intercept found in hole 09-555-05 (0.97% Li₂O over 14.7 m reported as true thickness intervals (from 36.0 m to 57.0 m; core length), including 1.43% Li₂O over 9.1 m (from 36.0 m to 49.0 m; core length)².

The average thickness of the Pontax spodumene bearing pegmatite swarm is estimated at 60 m with the thickest zone lying along the northeast edge.

²Source: Girard, R., 2011: Technical report on the Pontax Lithium property: A lithium exploration project near the lower Eastmain River area, Northern Québec; available at www.sedar.com under Khalkos Exploration Inc.).

Table 1: Highlights from the Q1 2020 drilling program at the Pontax spodumene pegmatite prospect.

TABLE 1: PONTAX LITHIUM Q1 2020 DRILLING RESULTS
Drill hole	Section	Azimuth	Plunge	Total length (m)	Intercepts	From (m)	To (m)	Core Intersection length (m)	True thickness (m)	Li2O (%)
975-19-015	6+00E	N325o	-50o	174.0	Intercept	75.60	77.85	2.05	1.44	1.53 %
–	–	–	–	–	Intercept	107.40	117.00	9.60	6.72	0.68 %
–	–	–	–	–	Intercept	155.70	158.30	2.60	1.82	0.96 %
975-19-016	6+00E	N325o	-50o	120.0	Pending	–	–	–	–	–
975-19-017	4+50E	N325o	-50o	153.9	Pending	–	–	–	–	–
975-19-018	4+50E	N325o	-50o	144.0	Intercept	31.35	35.90	4.55	3.19	0.94 %
–	–	–	–	–	Intercept	59.80	64.20	4.40	3.08	2.1 %
–	–	–	–	–	Intercept	71.30	73.90	2.60	1.82	1.27 %
–	–	–	–	–	Intercept	80.40	96.50	16.10	11.27	0.91 %
–	–	–	–	–	Including	84.80	88.85	4.05	2.84	1.72 %
–	–	–	–	–	Intercept	107.80	110.50	2.70	1.89	0.98 %
–	–	–	–	–	Intercept	121.30	122.85	1.55	1.09	1.62 %
975-19-019	5+50E	N325o	-50o	125.6	Pending	–	–	–	–	–
975-19-020	3+50E	N325o	-50o	132.0	Intercept	10.90	12.75	1.85	1.30	1.44 %
–	–	–	–	–	Intercept	19.40	24.20	4.80	3.36	2.55 %
975-19-021	2+50E	N325o	-50o	162 .0	Intercept	1.50	4.50	3.00	2.10	1.37 %
–	–	–	–	–	Intercept	17.50	21.25	3.75	2.63	1.99 %
–	–	–	–	–	Intercept	27.70	30.40	2.70	1.89	0.78%
–	–	–	–	–	Intercept	42.30	43.90	1.60	1.12	1.14 %
–	–	–	–	–	Intercept	55.10	62.30	7.20	5.04	1.10 %
–	–	–	–	–	Intercept	80.25	82.65	2.40	1.68	1.09 %
975-19-022	1+50E	N325o	-50o	123.0	Pending	–	–	–	–	–
975-19-023	1+00E	N325o	-50o	114.0	Intercept	37.40	39.50	2.30	1.61	0.57 %
975-19-024	0+50E	N325o	-50o	111.0	Intercept	5.85	8.10	2.25	1.58	0.95 %
–	–	–	–	–	Intercept	32.50	43.25	10.75	7.53	1.05 %
975-19-025	0+50W	N325o	-50o	151.0	Pending	–	–	–	–	–
Mineralized intersections are calculated with Li2O > 0.5% over a minimum of 1.5 m, no external dilution, internal dilution set at 0% Li2O

The Q1 2020 core drilling program at the Pontax Lithium Property was designed and operated by IOS Services Géoscientifiques Inc. (IOS) of Saguenay, Québec, under the supervision of Table Jamésienne de Concertation Minière (TJCM) of Chibougamau, Québec. The drilling was performed using a single heliportable drill rig operated by Forages G4 Inc. of Rouyn-Noranda, Québec. All eleven core holes from the  drilling program were shipped from the field to IOS’s laboratory facilities in Saguenay, Québec in preparation for detailed logging and sampling, as well as for core sample preparation (crushing and grinding). The drill core was kept in a secured storage facility at IOS until mid-July 2021 at which time core sampling worked commenced. In September 2021, IOS prepared 625 split core samples which were then submitted to Activation Laboratories Ltd. (Actlabs) of Ancaster, Ontario, an ISO/IEC 17025:2005 certified facility, for multi-element analysis using ICP-OES spectral analysis after a sodium peroxide fusion (code 8-Peroxide). Quality control, monitored by an IOS chemist, consists of 17% reference materials including blank, duplicates and certified reference material (Oreas 148 and Oreas 149) for a total of 103 QA\QC analysis.

On May 24, 2016, the Company reported that metallurgical testing of a 16.5 t bulk sample extracted from the Pontax Spodumene Pegmatite occurrence achieved an initial assay result of 6.3% Li₂O from spodumene concentrate with an 85% overall lithium recovery (refer to Stria news release dated May 24, 2016, available at https://strialithium.com or at  www.sedar.com under Stria Lithium Inc.).

About the Pontax Lithium Property

Stria Lithium’s 100%-owned Pontax Lithium Property consists of 68 contiguous map-designated claims (“CDC”) covering 3,612.65 hectares extending across 1:50,000 scale NTS sheet 32N-14 onto NTS sheet 32N-15. The Property is located in west-central Eeyou Istchee James Bay Territory, Northern Québec, approximately 30 km to the south of KM 381 Truck Stop on the Billy Diamond Highway (formerly “Route de la Baie-James”). Stria acquired 100% mineral rights to the Property in December 2013.

About Stria Lithium Inc.

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.

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

Qualified Persons

Mr. Réjean Girard, géo. (QC), President of IOS Services Géoscientifiques Inc. and a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects – has reviewed and approved the technical content of this news release.

Mr. Marc-André Bernier, géo. (QC), P.Geo. (ON), M.Sc., TJCM Senior Geoscientist and a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the non-technical content of this news release.

Forward-Looking Statement

This News Release contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the Company in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the Company; (xii) the risks associated with the various environmental regulations the Company is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; and (xvii) the risk of potential dilution through the issue of common shares. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this News Release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

Neither the 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 of this release.

For more information on Stria Lithium Inc., please contact:

Kimberly Darlington
Communications, Stria Lithium Inc.
kimberly@refinedsubstance.com

Judith T. Mazvihwa-MacLean
CFO, Stria Lithium Inc.
Jmazvihwa@striacapital.com