ELEVRA LITHIUM LIMITED — Capital/Financing Update 2015

Sep 1, 2015

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2 September 2015

SUCCESSFUL COMPLETION OF RETAIL OFFER

Sayona Mining Limited (ASX: SYA) ("Sayona" or “The Company") is pleased to announce the successful completion of the retail component of its 1 for 4 pro-rata accelerated non-renounceable entitlement offer to eligible shareholders.

All shares to be issued under the entitlement offer will include one free attaching option exercisable at $0.03 for each new share acquired.

Under the retail entitlement offer, valid application were received from eligible shareholders totalling $225,072. As the retail offer is fully underwritten by Bizzell Capital Partners Pty Ltd, the shortfall of $539,020 will be placed with sub-underwriters or the underwriter themselves.

The allotment of new shares and options is scheduled to occur on Friday 4 September 2015, with normal trading of the new securities to commence on Monday 7 September 2015. New shares will rank equally with other existing shares in the Company.

Total proceeds from the entitlement offer, amounting to approximately $2,572,000 will be used to further progress Sayona’s previously announced growth initiatives.

For more information, please contact:

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

Sayona Mining Limited is an Australian, ASX-listed, company focused on sourcing and developing high purity flake graphite for use in the rapidly growing new technology sectors.

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

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