ELEVRA LITHIUM LIMITED — Capital/Financing Update 2015

Aug 4, 2015

Notice reference number: 0905.15.08

What’s this about? Effective date: 5/08/2015

==> picture [505 x 89] intentionally omitted <==

----- Start of picture text -----  ASX Trade ASX 24 Trading Clearing SettlementOperations Technology Market Data Rules  Compliance Risk  Other----- End of picture text -----

Title

Sayona Mining Limited – Accelerated Non-Renounceable Entitlement Offer

Description

Sayona Mining Limited (ASX Code: SYA) (Company) announced a partially underwritten accelerated nonrenounceable rights issue on the basis of 1 new share for every 4 shares held at an issue price of $0.025 together with 1 free attaching option for every new share exercisable at $0.03 per share on or before 30 December 2016 to raise approximately $2.57 million (Entitlement Offer).

The Entitlement Offer has the following two components.

• An institutional entitlement offer, where offers have been made to qualifying institutional securityholders for them to apply for their pro-rata entitlement (Institutional Offer).

• A retail entitlement offer, where offers will be made to qualifying retail securityholders for them to apply for their pro-rata entitlement (Retail Offer).

New shares issued under the Entitlement Offer will rank equally with existing ordinary shares on issue.

The anticipated timetable in relation to the Entitlement Offer is set out below.

EventInstitutional Entitlement Offer opensInstitutional Entitlement Offer closesInstitutional Shortfall bookbuildLodge Prospectus with ASIC and ASXAnnounce results of Institutional OfferRecord Date for Entitlement OfferRetail Offer opensRetail Offer booklet despatchedIssue of new shares under the Institutional OfferRetail Offer Close	DateWednesday, 5 August 2015Thursday, 6 August 2015Thursday, 6 August 2015By 12pm on Thursday, 6 August 2015Friday, 7 August 20157pm (Brisbane time) Monday, 10 August2015Thursday, 13 August 2015Monday, 17 August 20155pm (Brisbane time) Friday, 28 August 2015

Page 1 of 2

(continued)

ASX Notice Notice

Issue of new shares under Retail Offer	Friday, 4 September 2015
Normal ASX trading for New Shares and New Optionscommences	Monday, 7 September 2015

Settlement issues

Despite the fact that securities are trading ‘ex entitlement’ on ASX Trade, CHESS will not recognise for settlement purposes the ‘ex entitlement’ or the ‘cum entitlement’ tag on CHESS messages and CHESS will not maintain cum balances during the deemed ‘CHESS ex-period’, i.e. the period commencing on the deemed CHESS ex-date up to and including the record date. However, a record date cum balance will be available the business day following the record date, which will be equal to the registered holding balance at CHESS end of day on the record date. As a result any transfer that occurs prior to record date will be effectively transferred on a ‘cum entitlement’ basis.

Therefore, Participants must ensure that any transfer, including the priming of Broker Entrepot Accounts, is conducted in accordance with the basis of quote. For example, a transfer in relation to a transaction conducted on an ‘ex entitlement’ basis should ordinarily only occur post record date.

CHESS will perform automatic diary adjustments to ‘cum entitlement’ settlement obligations outstanding as at the record date.

Trading issues

ASX will not price a ‘cum entitlement’ market with respect to trading in the Company’s securities. Persons who acquire the Company’s securities after the commencement of the trading halt on Wednesday, 5 August 2015 are not entitled to participate in the Entitlement Offer.

What do I need to do and by when?

For further details, please refer to the Company’s announcements on Wednesday, 5 August 2015.

Need more information?

For further details, please refer to the Company’s announcement on Wednesday, 5 August 2015 or contact the Company’s Executive Director and Company Secretary– Mr Paul Crawford on (07) 3369 7058.

Issued by Belinda Mai Contact Details (02) 9227 0469

Disclaimer

Page 2 of 2