Stria Lithium : Q2 2024 MD&A

STRIA LITHIUM INC.

(An Exploration Stage Company)

MANAGEMENT'S DISCUSSION AND ANALYSIS

For the three and six month periods ended March 31, 2024

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STRIA LITHIUM INC.

MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE AND SIX MONTH PERIODS ENDED MARCH 31, 2024

The following Management Discussion and Analysis ("MD&A") reviews the operating results, financial condition and future prospects of Stria Lithium Inc. ("Stria" or the "Company"), current as of May 24, 2024. It should be read in conjunction with the Company's interim unaudited financial statements and notes thereto for the three and six month periods ended March 31, 2024, and the audited financial statements and notes thereto for the year ended September 30, 2023 which were prepared in accordance with International Financial Reporting Standards ("IFRS"). The reporting currency is in Canadian dollars. All currency amounts herein are expressed in Canadian Dollars unless otherwise indicated.

This MD&A contains or may refer to certain statements that may be deemed "forward-looking statements". Forward-looking statements include estimates and statements that describe the Company's future development plans, objectives or goals, including words to the effect that the Company expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "anticipates", "believes", "could", "estimates", "predict", "seek", "potential", "continue", "intend", "plan", "expects", "may", "shall", "will", or "would" and similar expressions. Since forward- looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those in forward- looking statements. Factors that could cause actual results to differ materially from those in forward- looking statements include market prices for mineral commodities; exploration successes; new opportunities; continued availability of capital and financing; general economic, market or business conditions; and litigation, legislative, environmental or other judicial, regulatory, political and competitive developments. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. Stria does not undertake to update any forward-looking statement that may be made from time to time by Management or on its behalf, except in accordance with applicable public disclosure rules and regulations.

Nature of Business

Stria was incorporated on May 24, 2011 under the Canada Business Corporations Act. The Company was a Capital Pool Company ("CPC") as defined in Policy 2.4 of the TSX-V Corporate Finance Manual ("Policy 2.4") from incorporation to December 18, 2013 following the issuance of the TSX Venture Exchange's Final Bulletin approving the Company's acquisition of the Pontax-Lithium property, in Québec, as its Qualifying Transaction ("QT"). Subsequent to the completion of the QT in accordance with Policy 2.4 of the TSX Venture Exchange (the "Exchange"), Stria commenced operations as a Tier 2 mining issuer on the TSX Venture Exchange (the "Exchange") under the symbol SRA.

The principal business of the Company is the acquisition and development of mineral properties in North America with the aim of discovering commercially exploitable lithium deposits related to green energy technology which can either be placed into production by the Company or disposed of for a profit to companies that wish to place such deposits into commercial production. In addition, the Company is developing processes to purify and recover lithium metal directly from ore and from brine liquids from its lithium projects.

The head office of the Company is located at 945 Princess St., Box 118, Kingston, Ontario K7L 0E9.

Corporate Development Highlights

Stria Provides Update on Amended Stock Option Plan

On November 1, 2021, the Company provided the following update regarding its Stock Option Plan approved at the shareholders meeting held May 21, 2021 by shareholders of the Company. The new 20% fixed incentive stock option plan (the "New Plan") replaces the previous rolling stock option plan.

Pursuant to the New Plan, options entitling the purchase of an aggregate 1,471,607 common shares in the capital of the Company may be granted to directors, officers, employees and consultants of the Company from time to time.

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The New Plan also permits options granted under the New Plan to be exercised at a price not less than the Discounted Market Price (as such term is defined in the polices of the TSX Venture Exchange, subject to a minimum exercise price of $0.05.

200,000 Warrants Exercised at $0.50 Per Share

On November 9, 2021, the Chairman and Director of the Company exercised 200,000 warrants at $0.50 per share.

Stria Reports 11.27m Grading 0.91% Li2O in Hole 975 -19-018 From Q1 2020 Drilling at Pontax

On December 2, 2021, the Company reported 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 southwestern 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 (56.3mm) 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 -50o 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, with 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-gradeintercept in Hole 975-19-020, drilled on Line 5+00N at -50o 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 azimuté of 325o and dips vertical Ly. Drill holes crosseur the envelope of the mineralized zone at an angle of approximately 45o degrees. The conversion factor for true thickness is 0.7 of the core intersection length.

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: http://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 -47o 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

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at https://strialithium.com or at www.sedarplus.caunder 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).

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.).

Refer to the Exploration Activities for Table of Pontax Lithium Prospect Drilling Results

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 facilita, for multi-element analysis using ICP-OES spectral analysis aster 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 QAQC analysis.

Stria Retained Refined Substance Inc.to Provide IR Services

On December 8, 2021, the Company retained Refined Substance Inc. ("Refined Substance") to provide investor relations consulting services to the Company. Refined Substance is a Montreal-based communications and marketing firm providing investor relations services for the mining industry. Under the terms of the agreement, Refined Substance will provide investor relations services, including press release drafting and dissemination, responding to investor inquiries, and communications. Compensation payable in cash to Refined Substances will be based on an hourly rate invoiced monthly, the cost of this engagement to the Company is anticipated to be $3,500 per month.

There are no performance factors contained in the agreement. The agreement is effective as of September 30, 2021 and may be terminated upon 30 days' notice. Refined Substance and the Company are arm's length parties. Refined Substance is principally owned by Kimberly Darlington.

Receipt of Tax Credits

In November 2021, the Company received an amount of $547,618 in respect of previously claimed Quebec resource tax credits.

Proposed Debt Settlement

On January 10, 2022, the Company announced that it has reached an agreement with JJJY Holdings Inc. ("JJJY"), an entity controlled by a director of the Company, to settle $726,500 in debt owing to JJJY in respect of an unsecured loan made to the Company in March 2021 (the "Debt") (Note 13). Subject to regulatory approval, JJJY has agreed to convert the Debt into common shares of the Company at a price of $0.50 per common share, for a total of 1,453,000 common shares. As of September 30, 2023 and 2022, Stria has $nil balance owing to JJJY Holdings Inc.

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Stria Reports 3.89m Grading 1.28% Lithium Oxide in Hole 975-19-022 From Final Five Holes of Q1 2020 Drilling At Pontax

On January 10, 2022, the Company reported the results from the final five (5) drill holes (975-19-016, 017, 019, 022, and 025) from the Company's Q1-2020step-out drilling program at its Pontax Lithium Property. 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 northeastern and southwestern extensions of the spodumene pegmatite zone at a 50-metre spacing, as well as to test for dykes inside the footwall of the zone towards the Northwest.

The results released were for the last five drill holes whose analytical results were pending at the time of the Company's news release on December 2, 2021 (available on the Company's Website at: strialithium.com; highlights provided further below). These include two (2) drill holes positioned to test the extension of the spodumene pegmatite dyke swarm to the Northeast (975-19-016 and 975-16-

1. and one (1) drill hole positioned to test the extension of the dyke swarm to the Southwest (975-19-

1. The fourth drill hole (975-019-017) tested the extension of the dyke swarm at depth below hole 975-19-18, while the fifth and last hole (975-19-022) tested the pegmatite dykes in the footwall spodumene pegmatite zone to the Northwest.

Highlights from holes 975-19-016, 017, 019, 022, and 0251,2,3:

• Eleven (11) BTW-diameter drill holes were completed for a total of 1,510.5 m drilled (Table 1), with the results of the five (5) last 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.
• Four (4) of the five (5) holes reported today intersected spodumene bearing pegmatite dykes with individual intercepts grading from 1.09% Li2O over 1.72 m1 in hole 975-19-17 to 1.82% Li2O over 2.07 m1 in hole 975-19-019 (Table 1).
• Best intersection: Hole 975-19-022, drilled at 325o-50o to a vertical depth of 70.7 m in the central southwest portion of the spodumene pegmatite dyke swarm on Line 1+50E, intersected numerous closely spaced dykes that define a significant intercept2 grading
• 1. 
     1.28% Li2O over 3.89 m1 at a vertical depth of 31.2 m (from 48.65 m to 54.20 m; core length:
  2. m; Table 1). This intercept confirms the continuity of the spodumene mineralization in the footwall of the zone, previously detected in holes 975-19-023 and 024.
• Hole 975-19-016, drilled at 325o-50o to a vertical depth of 80.3 m at the northern eastern end of the spodumene pegmatite dyke swarm, above hole 975-19-015 on Line 6+00E, intercepted two bands of spodumene pegmatite dykes, the first grading 1.45% Li2O over
• 1. m1 (from 58.05 m to 60.35 m; core length: 2.30 m) and the second grading 1.11% Li2O over 2.10 m1 (from 69.30 m to 72.30 m; core length: 3.00 m) (Table 1).
• Hole 975-19-17, drilled at 325o-50o to a vertical depth of 90.0 m in the northeastern portion of the spodumene pegmatite dyke swarm, below hole 975-19-015 on Line 4+50E, intercepted five (5) bands of spodumene pegmatite dykes ranging in grade from 1.09% Li2O over 1.72 m1 (from 36.35 m to 38.80 m; core length: 2.45 m) to 1.54% Li2O over 1.26 m1 (from 74.55 m to 76.35 m; core length: 1.80 m) (Table 1).
• Hole 975-19-19, drilled at 325o-50o to a vertical depth of 80.35 m in the northeastern portion of the spodumene pegmatite dyke swarm, above hole 975-17-013 on Line 5+50E, intercepted five (5) bands of spodumene pegmatite dykes ranging in grade from 0,73% Li2O over 3.85 m1 (from 96.30 m to 101.80 m; core length: 5.50 m) to 1.82% Li2O over 2.07 m1 (from 90.20 m to 93.15 m; core length: 2.95 m) (Table 1).
• Hole 975-19-25, drilled at 325o-50o to a vertical depth of 90.0 m at the southwestern extremity of the spodumene pegmatite dyke swarm, on line 0+50W, did not intersect significant spodumene mineralization.

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• The spodumene bearing pegmatite dyke swarm remains open along strike to the northeast and at depth, while thinning out toward the southwest. Dykes are absent in the hangingwall to the southeast of the spodumene pegmatite dyke swarm but were detected with some continuity in the footwall to the northwest.

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 325o and dips vertically. Drill holes crosscut the envelope of the mineralized zone at an angle of approximately 45o degrees. The conversion factor for true thickness is 0.7 of the core intersection length.

2Significant mineralized intercepts are defined as Li2O > 0.5% over a min. true thickess of 1.5 m.

3Metabasalt 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.

Stria Announces Property Acquisition

On March 4, 2022, the Company announced is has entered into a letter of intent to purchase the Romer Polymetallic property which consists of 57 contiguous and two isolated map-designated mining claims (total surface area: 2,592.1 ha or 26 km2 from Braille Energy Systems Inc. ("BESI").

The Property is located in the Labrador Trough sector of Nunavik, the northern division of the Nord-du- Québec administrative region. The Property straddles the junction between NTS 1:50,000-scale topographic sheets 24K-03 (Lac Géridot) and 24K-04 (Lac Thévenet), and covers portions of unpatented townships 5051, 5052 and 5151. It is bound by latitudes 58°06'30" and 58°12'30" North and longitudes 69°29'00" and 69°38'00" West. The Property is an early-stage exploration project located in the Labrador Trough which is considered a potential emerging region of Québec for base (Cu-Zn-Ni) and precious (Au-PGE) metal mineralization.

Consideration for the Property is anticipated to be:

1. cash in the amount of $125,000;
2. $375,000 to be paid is shares of the Company; and
3. a net smelter royalty of 1% ("NSR"). Stria will have the option to purchase 50% of the NSR such that the NSR is reduced from 1.0% to 0.5%. The Partial NSR Buyout Option may be exercised at any time by Stria for consideration of $500,000 payable in cash or stock or a combination thereof at Stria's discretion.

BESI holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Prior to its acquisition of Braille Holdings through a reverse takeover transaction, Braille was a junior mining issuer listed on the TSXV. The Property is its sole mining asset.

The proposed acquisition of the Property is considered a non-arm's length party transaction pursuant to the policies of the Exchange as certain directors and officers act for both Stria and BESI. Both Stria and BESI will seek the requisite Exchange approvals in order to complete the proposed transaction. No new control person will be created on closing of the proposed transaction, non-arm's length parties will not receive more than 10% of the issued and outstanding shares of Stria as consideration for the Property, and the Property does not represent a sale of more than 50% of Braille's assets, business, or undertaking. No finders fee is payable by either party with respect to the transactions described herein.

Stria executed the definitive acquisition agreement with Braille on April 6, 2022. Terms of the executed agreement may be found in the news releases dated March 4 and April 5, 2022. Closing of the Proposed Transaction is subject to a number of conditions including approval of the disinterested shareholders of Braille and final approval of the TSXV. Please see the news releases of March 4 and April 5, 2022 for further information. IOS Services Géoscientifiques prepared the independent Geological Report. The report is expected to be delivered this week.

On August 11, 2022, the Company announced it closed the transaction with Braille Energy Systems.

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Stria Appoints New CEO and Announces Grant of Options

On March 9, 2022, the Company announced the appointment of Dean Hanisch as CEO. Jeff York has stepped down as interim CEO.

Mr. Hanisch is a resourceful entrepreneur with a proven track record in incubating, advising, assisting and selling private and public companies in multiple industries. Mr. Hanisch has been involved in helping a variety of junior mining companies gain awareness in the marketplace while acting as a consultant. Mr. Hanisch most notably held the title of Business Development Strategic Advisor with Paramount Gold and Silver Corp., a US-based company formerly listed on both the NYSE American exchange and TSX, where he was instrumental in its formative stage helping consolidate the land position through brokering numerous deals with adjacent public companies. He was instrumental in the sale of Paramount to Coeur Mining, Inc. (NYSE) valued at US$146 Million in April 2015. Previously, Mr. Hanisch held a variety of positions as President in the IT industry where he was instrumental in building companies that were later purchased by public companies, most notably Titan Consulting Group that was acquired by Calian CTY (TSX).

Stria also announces the grant of 910,000 incentive stock options to its directors, officers, and consultants. The options are to purchase up to 910,000 common shares of the Company at an exercise price of $0.50 per share and expire on March 8, 2027.

Stria Announced Share Consolidation

On March 28, 2022 the Company announced that at the annual and special shareholder meeting held April 19, 2022, the shareholders were asked to consider, and if deemed appropriate, pass a special resolution approving an amendment to the Company's articles to consolidate the issued and outstanding common shares of the Company on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation common shares outstanding.

There were 162,110,369 common shares issued and outstanding. Post-Consolidation there were approximately 16,211,036 common shares issued and outstanding.

No fractional common shares of the Company were issued, as a result of the Consolidation. The Company rounded any fractional shares resulting from the Consolidation in the following manner: a registered shareholders holding 0.50 or more fractional shares will be rounded up to the nearest whole share, and a registered shareholder holding less than 0.50 of a fractional share will be rounded down to the nearest whole share.

The Consolidation affected all Shareholders uniformly and it did not affect any Shareholders' percentage interest in the Company. In addition, the Consolidation did not affect any Shareholder's proportionate voting rights, subject to the treatment of fractional shares described above.

The Consolidation was subject to shareholder and TSXV approval and the effective date of the Consolidation was April 19, 2022. No name change was made in conjunction with the Consolidation.

TSX-V Acceptance of Share Consolidation

On May 12, 2022 the Company announced that the TSX-V approved a share consolidation of the outstanding capital of the Company of the Company's common shares on the basis of ten (10) pre- Consolidation common shares for one (1) post-Consolidation common share.

The Consolidation was effective May 16, 2022 and the Company did not change its name as part of the Consolidation but issued new share certificates under a new CUSIP number, 86330Y501 (ISIN: CA86330Y5011). The Company's common shares continue to trade on the Exchange under its current symbol, "SRA".

Holders of Common Shares who hold uncertificated shares (that is shares held in book-entry form and not represented by a physical share certificate), either as registered holders or beneficial owners, had their existing book-entry account(s) electronically adjusted by the Company's transfer agent or, in the

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case of beneficial shareholders, by their brokerage firms, banks, trusts or other nominees. Such holders generally do not need to take any additional actions to exchange their pre-Consolidation common shares for post-Consolidation common shares.

Registered shareholders holding share certificates were mailed a letter of transmittal advising of the consolidation and instructing them to surrender the share certificates representing pre-Consolidation common shares for replacement certificates or a direct registration advice representing their post- Consolidation common shares. Until surrendered for exchange, each share certificate formerly representing pre-consolidation Common Shares will be deemed to represent the number of whole post- Consolidation common shares to which the holder is entitled as a result of the Consolidation.

Stria Awarded $275,000 Grant From The Quebec Government

On June 28, 2022 the Company announced it has been awarded a grant of up to $275,000 by Quebec's Ministry of Energy and Natural Resources (MERN). The grant will be used to finance a geometallurgical study of lithium-bearing spodumene pegmatites at its Pontax property, located in the Eeyou Istchee Baie-James region of Quebec. The grant award is part of the Government of Quebec's program to support mineral exploration for minerals needed for green and renewable energy technologies as outlined in its 2020-25 Plan for the Development of Critical and Strategic Minerals.

Stria plans to engage IOS Services Géoscientifiques of Saguenay, Québec to design and conduct the geometallurical surveys, which are expected to begin in June using samples taken from the Pontax property in 2021.

Stria Announces Option and Joint Venture With Cygnus Gold On Its Pontax-Lithium Property and Private Placement

On July 28, 2022 the Company announced the execution of a binding Term Sheet with Cygnus Gold Limited (ASX: CY5) ("Cygnus") pursuant to which Cygnus has been granted the sole and exclusive Option (the "Option") to acquire up to a 70 % undivided interest in Stria's Pontax-Lithium property (the "Property") under a two-stage option for total cash payments of $6 million and exploration expenditure commitments totalling $10 million (the "Transaction"). Following the exercise of the Option, the parties will form a joint venture (the "Joint Venture") with each of Cygnus and Stria holding an undivided interest of 70% and 30% respectively, with Cygnus acting as operator of the Joint Venture. Stria's interest in the Joint Venture will be free carried until Cygnus delivers a feasibility study on the property.

In consideration for the Option, Cygnus will pay Stria a cash consideration of $1 million within 10 business days following the receipt by Stria of all the required corporate and regulatory approvals to complete the Transaction. Furthermore, as a condition precedent to the Transaction, Cygnus has accepted to participate in Stria's concurrent Offering (as defined below) in the amount of $350,000. Cygnus' participation in the Offering is conditional upon Stria first obtaining all required regulatory and shareholder approvals in connection with the Transaction (as further detailed below).

The terms of the two-stage option can be summarized as follows:

First Option to Acquire A 51% Undivided Interest ("First Option")

Under the First Option, Cygnus is required to incur exploration expenditures on the Property in the amount of $4 million over a period of 18 months. Following completion of such expenditures, in order to complete the First Option, Cygnus shall pay Stria a cash amount of $2 million.

Second Option to Acquire An Additional 19% interest ("Second Option")

Under the Second Option, conditional upon the exercise of the First Option, Cygnus shall incur additional exploration expenditures in the amount of $6 million over a period of 30 months from the date of exercise of the First Option. Following completion of such expenditures, in order to complete the Second Option, Cygnus shall pay Stria an additional cash amount of $3 million. Upon the exercise of the Second Option, Cygnus shall have acquired a 70% undivided interest in the Property.

In the event Cygnus elects not to proceed with, or otherwise fails to exercise the Second Option, the parties will form the Joint Venture with Cygnus automatically transferring a 2% undivided back to Stria for a nominal consideration. Each of Cygnus and Stria shall thereafter hold an undivided Joint Venture interest of 49 % and 51 % respectively, with Stria becoming operator of the Joint Venture.

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The Transaction constitutes an arm's length transaction within the meaning of the policies of the TSX Venture Exchange (the "TSXV") and constitutes a "Reviewable Transaction" in accordance with TSXV Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets, and therefore remains subject to the review and approval of the TSXV. Moreover, as the Transaction constitutes the sale of more than 50% of Stria's assets, business or undertaking, it is subject to shareholder approval. Accordingly, and as permitted by the policies of the TSXV, Stria will obtain such shareholder approval by way of written consent of shareholders holding over 50% of its issued and outstanding shares. It should be noted that there are no finders fee payable in connection with the Transaction.

The Transaction is subject to conditions customary for this type of transaction including, notably, Stria having obtained all required corporate and regulatory approvals within a delay of 60 days from the execution of the Term Sheet, failing which any party may terminate the Transaction.

Stria Announces Receipt of Shareholder Consent to the Option and Joint Venture with Cygnus Gold

On August 23, 2022, the Company announced it has obtained shareholder approval of the previously announced binding term sheet with Cygnus. As the Transaction constitutes an arm's length transaction within the meaning of the policies of the TSX-V and constitutes a "Reviewable Transaction" in accordance with TSXV Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets, Stria sought and obtained such shareholder approval by way of written consent of shareholders holding over 50% of its issued and outstanding shares.

The Transaction remains subject to conditions customary for this type of transaction including, notably, Stria having obtained all required corporate and regulatory approvals within a delay of 60 days from the execution of the Term Sheet, failing which any party may terminate the Transaction.

Following the closing of the Transaction, Stria plans to devote its resources to the exploration of the Romer property which is located in the Labrador Trough sector of Nunavik, the northern division of the Nord-du-Québec administrative region. The property straddles the junction between NTS 1:50,000- scale topographic sheets 24K-03 (Lac Géridot) and 24K-04 (Lac Thévenet), and covers portions of unpatented townships 5051, 5052 and 5151. It is bound by latitudes 58°06'30" and 58°12'30" North and longitudes 69°29'00" and 69°38'00" West. The property is an early-stage exploration project where previous prospecting programs unearthed hundreds of outcrop samples anomalous in platinum, palladium or gold, associated with reef type PGM or orogenic gold occurrences. The property also has the proper geological setting to host zinc or nickel mineral occurrences, which could be associated with currently untested VTEM anomalies.

Stria Financing

The Company announced a non-brokered private placement for total gross proceeds of up to $1.5 million. Stria shall raise up to:

• $1,150,000 at a price of $0.15 per unit of Stria from investors pursuant to prospectus exemptions and
• (ii) $350,000 at a price of $0.25 per common share of Stria from Cygnus (the
  "Offering").

Each unit so issued shall be comprised of one common share of Stria and one-half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one common share of Stria for $0.50 per common share for a period of 24 months following the closing. As detailed above, in connection with the Transaction, Cygnus has accepted to participate in the Offering in the amount of $350,000, subject to Stria having received TSX-V approval and the approval of its shareholders to complete the Transaction. The securities issued under the Offering will be subject to a 4-month hold period under applicable Canadian securities regulations. The Offering remains subject to the approval of the TSXV.

On October 17, 2022, the Company announced the execution of a definitive agreement with Cygnus following the execution of a binding term sheet between the parties dated July 26, 2022.

Stria Announces Closing of Previously Announced Private Placement

On August 23, 2022, the Company announced the closing of an equity financing announced in its press release of July 28, 2022 through the issuance of 4,274,999 units at a price of $0.15 per unit for gross proceeds of $641,250. Each unit was issued on August 19, 2022 and consists of one common share in

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the capital of Stria and one-half of one Common Share purchase warrant. Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.50 per Common Share for a period of 24 months from the closing date.

Stria intends to use the net proceeds from this Offering for working capital and general corporate purposes. The securities issued in this Offering are subject to a four-month and one (1) day hold period expiring on December 20, 2022.

In connection with this first closing of the Offering, finder's fees equal to an aggregate amount of $7,200 were paid, and 48,000 finder's warrants were issued, to third parties dealing at arm's length with Stria. Each finder's warrant entitles the holder to acquire one Common Share at an exercise price of $0.50 per Common Share for a period of 24 months from the closing date. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the acceptance by the TSX-V.

Stria Announces Grant of Incentive Stock Options

On August 24, 2022 the Company announced it granted stock options in respect of an aggregate of 2,195,000 common shares. The exercise price of the options is $0.17 per share. The options will expire on August 24, 2027. The options were granted under Stria's stock option plan.

Stria Announces Incentive Stock Option Grants

On August 30, 2022 the Company announced it granted stock options in respect of an aggregate of 1,240,000 common shares. The exercise price of the options is $0.175 per share. The options will expire on August 29, 2027. The options were granted under Stria's stock option plan.

Stria Announces Numerous Targets Identified in Area with High-Grades of Up To 2.6% Li2O on the Pontax-Lithium Property

On October 20, 2022 the Company, in partnership with Cygnus Gold Limited (ASX: CY5) (" Cygnus ") announced highly promising preliminary results from the recently completed high resolution aeromagnetics and LiDAR surveys at the Pontax Lithium Project.

Stria Announces Resource Definition Drilling Commenced and First Stage Completed

On November 7, 2022 the Company, in partnership with Cygnus Gold Limited (ASX:CY5) ("Cygnus") announced it has initiated a 10,000m drilling program at its Pontax Lithium targeting multiple outcropping spodumene zones with up to 2.6% Li 2 O. The 10,000m drill program will focus on both resource definition and step out drilling over the next six months. The initial focus of this first stage drill programme is to target down dip and along strike extents of the known high grade Pontax Central outcrop with existing known shallow, high grade intercepts of up to 2.6% Li 2 O from only 19.4m downhole. The initial focus of this first stage drill programme is to target down dip and along strike extents of the known high grade Pontax Central outcrop with existing known shallow, high grade intercepts of up to 2.6% Li 2 O at a depth of approximately 12 metres (19.4m downhole). The spodumene-bearing pegmatites at the main Pontax occurrence do outcrop on a hillcrest protruding surrounding undercover area, where exploration drilling is limited to winter operation.

Cygnus advised Stria that the initial-stage ground mapping and sampling has been completed around the main outcrop of the Pontax Project. The recently completed mapping and sampling campaign focussed on key areas identified from recent LiDAR, high definition aeromagnetics and high-resolution photomosaic. The initial results of this work have been highly encouraging leading to the discovery of new unmapped pegmatites now identified and sampled with assay results expected mid-December. Landform analysis based on LiDAR has proven effective in targeting area of potential nearly-outcropping occurrences that were entirely covered by vegetation.

On December 21, 2022, the Company announced it completed the first stage of its fall 2022, 2,028m helicopter-supported core drilling program designed to test the continuity at depth of the spodumene mineralization over the entire known strike length of the central spodumene-bearing pegmatite dyke swarm zone at the Pontax LSPD prospect.

The fall core drilling program comprised of seven (7) inclined NQ-diameter holes for a total of the 2,028m drilled (holes 975-22-026 to 975-22-032). The drill program is scheduled to resume in January 2023. Analytical results for the first set of drill core samples expedited to SGS Canada Inc. Laboratories in

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