ELEVRA LITHIUM LIMITED — Board/Management Information 2015

Jul 7, 2015

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8 July 2015

APPOINTMENT OF CHIEF EXECUTIVE OFFICER

Sayona Resources Limited (ASX: SYA) ("Sayona" or the "Company") is pleased to announce the appointment of Mr Corey Nolan as Chief Executive officer (“CEO”).

Mr Nolan’s immediate focus will be to identify potential investment or acquisition opportunities in the resources sector. The Company’s strategic objective is to identify projects that have a clear pathway to production or monetization and can generate high returns to shareholders. This will be achieved by leveraging the in-house expertise and track-record in identifying, acquiring, financing, developing and operating resource projects, and un-locking value.

Mr Nolan is an experienced public company director and senior executive with more than 23 years’ experience in advisory, commercial and business development roles focused on the acquisition, funding, and development of resource projects.

Most recently, Mr Nolan was Managing Director (Feb 2014 – May 2015) of ASX/AIM listed Leyshon Resources Limited, and Executive Director (Oct 2013 – Jan 2014) and Managing Director (Sept 2009 – Sept 2013) of ASX listed, Elementos Limited. In 2011, Elementos completed a merger to become an advanced developer of tin and tungsten resources in Tasmania, Australia. Mr Nolan was instrumental in the identification, negotiation, due diligence, structuring and execution of the merger.

From 2006 to 2009, Mr Nolan was Business Development and Commercial Manager for Aviva Corporation, responsible for the identification, evaluation and negotiation of coal and energy related acquisition and merger opportunities in Australia and Southern Africa.

Mr Nolan commenced his career in the financial services industry as a resources equities analyst at firms including Wilson HTM and Morgan Stanley, and as a Director of the Corporate Finance practice of global advisory firm PWC.

Mr Nolan’s qualifications include a Bachelor of Commerce, and a Masters Degree in Mineral and Energy Economics. Mr Nolan is also a graduate of the Australian Institute of Company Directors.

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Summary of the key terms of the CEO remuneration

Mr Nolan will receive cash remuneration of A$150,000 plus statutory superannuation entitlements. Either party may terminate the employment agreement with three months written notice.

Mr Nolan will be granted the following share options:

Quantity	ExercisePrice	OptionPeriod	VestingDate	Expiry Date
6,000,0006,000,0006,000,000	0.0050.0100.015	12 months18 months24 months	1 July 20151 July 20151 July2015	30 June 201631 December 201630 June 2017

For more information, please contact:

Corey Nolan Chief Executive Officer Phone: +61 (7) 3369 7058 Email: info@sayonamining.com.au

Please visit us as at www.sayonamining.com.au

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