Stria Starts Strategic Transformation with Acquisition of First Gold Royalty

09/04/2026 PHStocks

Highly experienced royalty specialists appointed as Chief Executive and Vice President as part of plan to establish a portfolio of precious metals royalties

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 Resource1 of 22.1Mt @ 1.2 g/t for 822,000oz and an Inferred Resource of 2.4Mt @ 1.2 g/t for 94,000oz2. 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 upside34
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 operation5
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 resources6 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 scenarios7
Prior drilling highlights the quality of the asset with substantial widths and grades from unmined areas revealing the scale and continuity of mineralization, results include8:
- 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 including9:
- 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 17th December 2025:

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.

Notes:

Mineral Resources are classified and reported in accordance with the 2012 JORC Code as at 17th December 2025.
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.
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.

Leave a Reply Cancel reply