ELEVRA LITHIUM LIMITED — Capital/Financing Update 2019

Aug 13, 2019

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14 August 2019

DIRECTORS & MANAGEMENT INVEST IN SAYONA’S FUTURE

Highlights

• Sayona’s Board and management have backed the Company’s future, investing $925,000 in an approximate $1.2m placement to support the development of Sayona’s flagship Authier and other projects

• Shareholder Share Purchase Plan (SPP) remains open to 19 August

• Sayona continuing to advance delivery of a sustainable and profitable new lithium mine in Québec, under the Company’s new leadership team.

Emerging lithium miner Sayona Mining Limited (ASX: SYA) announced today the Board and management have invested in the Company’s future by contributing $925,000 towards an approximate $1.2 million raised through a placement. The funds will help advance the Company’s flagship Authier Lithium Project in Québec, Canada, while progressing its project pipeline and providing necessary working capital.

The placement will be undertaken on the same terms as the current SPP:

Issue Price:	AUD$0.0086 per shares
Securities:	Shares applied for plus one unlisted option for every two NewShares issued, exercisable at 3 cents and having an expiry dateof 23 July 2022

Meanwhile, the SPP remains open until 19 August (refer ASX announcement 13 August 2019), providing eligible shareholders the opportunity to apply for parcels of new shares in Sayona valued between $1,000 and $15,000. In accordance with ASX listing rules, the placement of securities to Directors will be subject to shareholder approval.

SAYONA MINING LIMITED P +61 7 3369 7058 E info@sayonamining.com.au A Suite 68, 283 Given Tce, Paddington QLD

sayonamining.com.au

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The Directors’ investment includes funds from recently appointed Managing Director and Chief Executive Officer, Brett Lynch, together with contributions from the Sayona Québec management team including Sayona Québec CEO Guy Laliberté and Serge Rouillier, Manager, Sustainable Development.

Sayona’s Managing Director, Mr Lynch said the Board and management team’s investment in the capital raising provided a tangible vote of confidence for investors.

“Sayona’s leadership team is extremely positive concerning the future of our Company and its portfolio of lithium projects in Canada and Western Australia,” Mr Lynch said.

“This investment by the Directors and management is a tangible demonstration of our commitment to Sayona and to delivering results, with a clear alignment of the interests of the Board and management with all shareholders.”

Sayona has continued to progress its Authier project, currently advancing the review of its mining plan and definitive feasibility study together with an environmental impact statement (EIS).

As outlined in a recent investor presentation, the Company expects the regulatory process to take approximately 13 to 18 months, with a government decision expected by late 2020 and construction eyed for 2021, pending the necessary approvals (refer ASX announcement 17 July 2019).

Recent consultations with stakeholders in Québec have reinforced the Québec Government’s commitment to ensuring the development of a complete lithium value chain in the province, including downstream processing.

Sayona’s Mr Lynch added: “Our interests in Québec are fully aligned with the government and the people of Québec, complementing its lithium strategy. With the global revolution in lithium‐ion battery technology driving demand for new lithium projects, Sayona has a very bright future that we are determined to capitalise on.”

For more information, please contact:

Brett Lynch 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. The Company has lithium projects in Québec, Canada and in Western Australia.

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

SAYONA MINING LIMITED P +61 7 3369 7058 E info@sayonamining.com.au A Suite 68, 283 Given Tce, Paddington QLD

sayonamining.com.au