Mr. Dean Hanisch reports

STRIA LITHIUM IS PLEASED TO ANNOUNCE THAT IT HAS RECEIVED THE FINAL MILESTONE PAYMENT IN OPTION 1 OF THE EARN IN AGREEMENT WITH A PAYMENT OF C$2 MILLION IN CYGNUS METALS SHARES

Stria Lithium Inc. has received the final milestone payment of $2-million in Cygnus Metals shares. Cygnus Metals has earned 51 per cent of Pontax Central by spending $4-million on exploration at the project and paying Stria $3-million in payments (refer to TSX Venture Exchange release dated July 28, 2022).

Under the first option, Cygnus Metals can acquire a 51-per-cent undivided interest in Pontax Central by incurring exploration expenditures in the amount of $4-million and paying Stria a total of $3-million of which Stria has already received $1-million. Stria is pleased to announce it has agreed to receive the remaining $2-million in shares of Cygnus Metals.

As a demonstration of the co-operation between Stria and Cygnus Metals, the parties have agreed that the $2-million payable upon achieving this milestone will be satisfied by the issue of Cygnus fully paid ordinary shares. Cygnus is already a 7-per-cent shareholder of Stria, and these CY5 shares issued to Stria result in positive cross ownership between both partners.

A total of 9,129,825 shares have been issued to Stria at a deemed price of 24.75 Australian cents per share (21.91 cents), being close to the 10-day volume-weighted average price of Cygnus shares.

Judith Mazvihwa-Maclean, chief financial officer of Stria, said today: "Cygnus Metals continues to exceed our expectations in the rapid development of the Pontax Central project. This trend seems to be consistent within their portfolio of projects in the James Bay region. To this end, we are pleased to become shareholders."

Cygnus has claimed it continues to be on track to release a maiden mineral resource (Joint Ore Reserves Committee) for Pontax Central late July or early August, 2023.

About Stria Lithium Inc.

Stria (TSX Venture Exchange: SRA) is an emerging resource exploration company developing Canadian lithium reserves to meet legislated demand for electric vehicles and their rechargeable lithium-ion batteries.

Lithium is a rare metal and an indispensable component of rechargeable lithium-ion batteries, one of the safest and most efficient energy storage technologies available today, used in everything from cellphones and power tools to electric cars and industrial-scale energy storage for renewable power sources such as wind and solar generation.

Stria's Central Pontax lithium project covers 36 square kilometres, including eight kilometres 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 hardrock mining in North America.

Stria has entered into a joint venture agreement with Cygnus Metals on its Pontax Central project. Cygnus Metals is committed to fully financing 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 an up-to-70-per-cent interest in the property. Cygnus has fulfilled its Stage 1 requirements within the agreement and has earned its 51-per-cent interest in the property as per the above share issuance.

Stria's other significant project, Pontax II, covers 55 square kilometres, approximately 25 kilometres to the west/southwest of Pontax Central and is located adjacent to the Billy-Diamond paved highway. Stria has added to this project by recently acquiring 24 claims for 1,276.5 hectares that are strategically located northeast of Stria's Pontax II claims.

Stria previously reported highly anomalous tantalum oxide grain counts in till samples of up to 797 grains, the highest count ever recorded by the laboratory. The Pontax II grain counts stand at the 97.6 percentile of the regional population with an average of 156 grains per sample as a comparative basis. A regional survey in the same area conducted by the Ministere de l'Energie et des Ressources Naturelles du Quebec processed a total of 5950 tantalum oxide grains, yielding an average count of 36 grains per samples. The conclusion is that the grain counts are suggestive of the proximity of lithium-bearing pegmatites.

Pontax II claims are in highly active prospective zones, situated to the west/southwest of Stria/Cygnus lithium discovery, situated to the west of the Patriot Battery Metals Pontax project and situated south of Brunswick Exploration.

Stria's Pontax properties are both situated close to an industrial power line and a major paved highway, about 310 kilometres north of the North American rail network that leads to the industrial heartland.

As momentum builds for the green energy revolution and the shift to electric vehicles, governments in Canada and the United States 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 the James Bay Cree Nation (Eeyouch) and engaging openly and respectfully as neighbours and collaborators in this exciting project that has the potential to create lasting jobs and prosperity for Eeyou Istchee and its people.

We seek Safe Harbor.