ELEVRA LITHIUM LIMITED — Capital/Financing Update 2020

Mar 16, 2020

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17 March 2020

RIGHTS COMMENCE TRADING

Highlights

• Rights issued under Renounceable Rights Issue announced 12 March commence trading on ASX, under ticker code SYARC

• Rights trading to cease 27 March 2020 as per the Rights Issue timetable.

Emerging lithium miner Sayona Mining Limited (ASX: SYA) announced today the commencement of trading of rights subject to the Company’s Renounceable Rights Issue, as announced on 12 March 2020.

The rights have commenced trading under the ASX code of SYARC. Under the Rights Issue timetable, rights trading will cease on 27 March 2020.

Sayona launched on 12 March a Renounceable Rights Issue to raise up to AUD$4.3 million before costs, with the funding to support the Company’s growth plans in Québec, Canada as it advances its bid for North American Lithium.

Directors and management have demonstrated their confidence in Sayona’s growth strategy by supporting the fund raising, agreeing to subscribe for AUD$420,000 of their entitlement under the offer.

Sayona’s Managing Director, Brett Lynch and Sayona Québec CEO, Guy Laliberté, have also committed to subscribe for an additional AUD$400,000 from any shortfall. The issue is partially underwritten to AUD$1.5 million by leading investment advisory firm Mahe Capital Pty Ltd.

For more information, please refer to the ASX announcements and Rights Issue Prospectus released on 12 March 2020.

This announcement is authorised by Sayona’s Board of Directors.

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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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For more information, please contact:

Brett Lynch

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

For media queries, please contact:

Anthony Fensom Republic PR anthony@republicpr.com.au; +61 (0)407 112 623

About Sayona Mining

Sayona Mining Limited is an emerging lithium miner (ASX:SYA), with projects in Québec, Canada and Western Australia. In Québec, Sayona is progressing a bid for the North American Lithium mine with the backing of a world-class support team, while advancing its flagship Authier Lithium Project and its emerging Viau-Dallaire prospect (Tansim project).

In Western Australia, the Company has a joint venture with leading lithium producer Altura Mining concerning its exploration portfolio in the world-class Pilgangoora lithium district.

For more information, please visit us 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