Stria Announces Stock Option Grants

Stria Lithium Inc. announced the grant of 300,000 stock options at an exercise price of $0.17 per share, with the majority (200,000 options) allocated to the company's board of directors. The options will expire on October 16, 2027, and vest immediately under the company's Incentive Equity Plan. This corporate action reflects standard executive compensation practices in the junior mining sector.

The announcement coincides with shareholder approval of an amended 20% fixed stock option plan at the company's August 29, 2024 annual meeting. The revised plan significantly expands the option pool to 5,184,207 shares, providing greater flexibility for future equity-based compensation. The amended plan remains subject to TSX Venture Exchange approval, a routine regulatory requirement for such corporate governance changes.

Stria Lithium continues to advance its Pontax Central Lithium Project in Quebec's James Bay region, an area increasingly recognized as Canada's emerging lithium district. The company's joint venture with ASX-listed Cygnus Metals has established a JORC-compliant inferred resource of 10.1 million tonnes at 1.04% Li2O. Cygnus has earned its 51% interest in the property by fulfilling stage one requirements and is funding up to $10 million in exploration work while potentially paying Stria up to $6 million in cash.

The timing of these option grants aligns with broader momentum in North American lithium development, driven by government support for domestic battery supply chains and the electric vehicle transition. For Stria, the expanded option plan provides important tools for attracting and retaining talent in a competitive market for lithium expertise, while the current grants signal management's confidence in the project's development trajectory.