ELEVRA LITHIUM LIMITED — Capital/Financing Update 2018

Dec 2, 2018

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3 December 2018

SAYONA BACKS JOINT STUDY ON QUEBEC’S CLEAN AND GREEN BATTERY FUTURE

Highlights

• Sayona joins study supported by Quebec Ministry of Economy and Innovation on development of an industrial cluster for lithium‐ion battery production in the Province of Québec

• Opportunity for Quebec to be at forefront of clean energy revolution amid rising global demand.

Emerging lithium miner Sayona Mining Limited (ASX: SYA) announced today its support for Quebec’s clean energy future, with the Company participating in a joint study on the development of a lithium‐ ion battery industry in the Canadian province.

The study, which will be carried out with the financial support of the Quebec Ministry of Economy and Innovation and other partners, represents a major step forward by Quebec in the fast‐growing lithium‐ ion battery industry for energy and transport.

It will assess how Quebec can leverage its competitive advantages, including low‐cost hydro‐electric power and access to major markets, to ensure the province is strategically positioned to benefit from the clean energy revolution that is driving demand for lithium‐ion battery technology.

The study will be led by Propulsion Quebec, an industrial cluster that aims to promote electric and smart transportation. It will include a portrait of the North American lithium‐ion battery market and an analysis of the opportunities for Québec, ranging from the extraction of raw materials to the manufacturing of components and battery cells and their ultimate recycling.

The study’s results are expected to be published by the Northern Hemisphere spring of 2019.

In addition to the Quebec government, the other financial partners are la Société de développement de Shawinigan, Call2Recycle®, the Northern Plan Society, Hydro‐Québec's Center for Excellence in Electrification of Transportation and Energy Storage, Nemaska Lithium, Mason Graphite and North American Lithium, Nouveau Monde Graphite, Lithion Recycling, RNC Minerals and Sayona Quebec.

Welcoming the study, Sayona’s Managing Director, Dan O’Neill said: “Sayona is proud to participate in this initiative, which should help put Quebec at the forefront of this global clean and green energy revolution. With its hydroelectric platform, the province could become a leading world producer of lithium‐Ion batteries with the smallest environmental footprint.

“As a company that is committed to sustainable development, we look forward to making our own significant contribution to Quebec’s energy future through the development of a sustainable and profitable new lithium mine at our Authier Lithium Project.”

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Sayona’s 24 September 2018 announcement of a positive definitive feasibility study for its flagship Authier project highlighted the opportunity for Quebec, with analyst estimates of rising global demand for lithium in applications including electric vehicles and bicycles along with battery storage and consumer electronics.

Quebec is uniquely positioned to benefit, with its excellent infrastructure including globally competitive, low‐cost gas and electricity prices, skilled labour, road and rail transport network and its close proximity to US markets, including the Tesla Giga factory in Nevada.

For more information, please contact:

Dan O’Neill

Managing Director Phone: +61 (7) 3369 7058 Email: info@sayonamining.com.au

Sayona Mining Limited is an Australian, ASX‐listed (SYA) company focused on sourcing and developing the raw materials required to construct lithium‐ion batteries for use in the rapidly growing new and green technology sectors.

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

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