ELEVRA LITHIUM LIMITED — Capital/Financing Update 2015

Aug 12, 2015

==> picture [595 x 30] intentionally omitted <==

==> picture [595 x 31] intentionally omitted <==

==> picture [595 x 30] intentionally omitted <==

==> picture [595 x 31] intentionally omitted <==

==> picture [595 x 30] intentionally omitted <==

13 August 2015

DISPATCH OF RETAIL OFFER PROSPECTUS

Sayona Mining Limited (ASX: SYA) ("Sayona" or “The Company") confirms that the Retail Entitlement Offer Prospectus and personalised Entitlement and Acceptance Form in connection with the accelerated pro-rata non-renounceable entitlement offer (Entitlement Offer) as announced on 5 August 2015 was dispatched to Eligible Shareholders today.

The Prospectus was lodged with ASX on 6 August 2015 and is available on the Company’s website.

A letter to Ineligible Shareholders notifying them of the Entitlement Offer and their ineligibility to participate has also been dispatched. A copy of the letter is attached.

Further information for Eligible Shareholders

Eligible Shareholders are encouraged to carefully read the Retail Offer Booklet for further details relating to the Retail Entitlement Offer.

The Retail Entitlement Offer closes at 5.00pm (AEST) on Friday 28 August 2015. Applications and associated application moneys must be received prior to this time.

For further information, please contact:

For more information, please contact:

Paul Crawford Company Secretary 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

==> picture [595 x 72] intentionally omitted <==

13 August 2015

==> picture [595 x 30] intentionally omitted <==

==> picture [595 x 30] intentionally omitted <==

==> picture [595 x 30] intentionally omitted <==

Dear Shareholder

NON-RENOUNCEABLE RIGHTS ISSUE – NOTICE TO INELIGIBLE SHAREHOLDERS

On 5 August 2015, Sayona Mining Limited (ASX: SYA) ("Sayona" or “The Company") announced that it was commencing an accelerated non-renounceable rights issue, comprising an Institutional Offer and Retail Offer on the basis of one (1) New Share for every four (4) Shares held at an issue price of 2.5 cents ($0.025) per New Share together with one (1) free attaching New Option for every New Share issued ( Entitlement Offer ).

Sayona may issue a maximum of approx. 102,883,703 New Shares (subject to rounding) to raise up to $2.57 million (before the costs of the Entitlement Offer). A maximum of 102,883,703 New Options may be issued under the Entitlement Offer. The New Options are to be listed on the ASX, exercisable on a 1:1 basis at 3 cents ($0.03) per Share and will expire on 30 December 2016.

The net proceeds of the Entitlement Offer together with the Company’s existing cash will be used to fund East Kimberley Project acquisition costs, exploration at the East Kimberley Project, Itabela Project Due Diligence costs, and working capital requirements.

A prospectus in relation to the Entitlement Offer was lodged with ASIC on 6 August 2015 and is available on the Company’s website. The Entitlement Offer is available to shareholders with a registered address in Australia, New Zealand, Singapore or Hong Kong.

The Entitlement Offer will not be extended to shareholders with a registered address outside these jurisdictions as the Company has determined pursuant to Listing Rule 7.7.1(a) and Section 9A(3) of the Corporations Act 2001 (Cth) that it would be unreasonable to do so, having regard to the number of such shareholders, their holdings and the cost of complying with regulatory requirements outside of the nominated jurisdictions.

As an ineligible shareholder, no offer is being made to you and the offer document prepared by the Company in relation to the Entitlement Offer will not be sent to you. We refer you to section 1.3 of the Prospectus which defines who is an eligible retail shareholder for the purpose of the Entitlement Offer.

This letter is not an offer to issue New Shares or New Listed Options to you, nor an invitation for you to apply for New Shares or New Listed Options. You do not have to take any further action in relation to the Entitlement Offer.

If you have any questions regarding the Entitlement Offer please contact the Company as detailed below.

Yours sincerely

Sayona Mining Limited

==> picture [117 x 38] intentionally omitted <==

Paul Crawford Company Secretary

==> picture [595 x 25] intentionally omitted <==

==> picture [595 x 24] intentionally omitted <==

==> picture [595 x 24] intentionally omitted <==