ELEVRA LITHIUM LIMITED — Capital/Financing Update 2015

Jul 19, 2015

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20 July 2015

EAST KIMBERLEY DRILL TARGET GENERATION & METALLURGY PROGRAM COMMENCES

Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") is pleased to announce that it has commenced a detailed field programme at its Corkwood graphite project in the East Kimberley region, Western Australia.

Samples will be collected for metallurgical test work and graphite analysis, targeting areas with coarse and jumbo flake graphite. Jumbo and large flake sizes attract premium pricing and are expected to be in strong demand, driven by the growing use in new technologies such as lithium-ion batteries and super capacitors.

The program will target a 20 kilometre strike length geophysical feature where initial work has identified a new occurrence of jumbo and large flake graphite, good graphite grades, and widths up to 35 metres true thickness.

The programme is designed to:

• Identify areas of high grade and width with the potential to host significant tonnages of graphite mineralisation; and

• Collect material for metallurgical analysis including flotation test work to determine graphite recovery, flake size and graphite purity.

Results will help define the priority areas for drill testing, anticipated to commence during the fourth quarter, calendar 2015.

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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