ELEVRA LITHIUM LIMITED — Capital/Financing Update 2019

Jun 25, 2019

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26 June 2019

SHARE PURCHASE PLAN CLEANSING NOTICE

Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") announced on 24 June 2019 that a share purchase plan (SPP) would be offered to eligible shareholders.

The personalised SPP offers will be despatched by 28 June 2019 and the SPP will open on 28 June 2019.

The SPP will be offered in accordance with ASIC Class Order [09/425] (Class Order). It is a condition of the Class Order that the Company gives ASX this notice within the 24-hour period before the SPP offer is made.

The Company gives notice that:

• (a) it will make offers to eligible shareholders to subscribe for up to $15,000 worth of ordinary shares in the capital of the Company (New Shares) under the SPP; the issue of the New Shares under the SPP will be without disclosure under Part 6D.2 of the Corporations Act 2001 (Cth) (Corporations Act); the Company will also offer free attaching options in relation to the SPP under a separate prospectus that has been lodged with ASIC;

• (b) this cleansing notice is being given under the Class Order;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M Corporations Act as they apply to the Company; and

  • (ii) section 674 Corporations Act; and

• (d) as at the date of this Notice, there is no "excluded information" of the type referred to in section 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed by the Company.

Signed on behalf of the Company by:

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Paul Crawford

Company Secretary

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

sayonamining.com.au