Sayona Mining Limited: NAL Restart on Track with Permitting Procurement Near Completion

Brisbane, Australia - Emerging lithium producer Sayona Mining Ltd. (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) is on track for the planned Q1 2023 restart of spodumene (lithium) production at its North American Lithium (NAL) operation in Quebec, with construction, procurement, recruitment and other activities continuing to advance.

The NAL project team continued to progress the restart during Quebec's summer months of July and August, with permitting applications now 95% complete and procurement at 94%, with most major procurement items already on-site. Construction activities also ramped up during the period, with the installation of the HP300 and HP400 Cone Crushers well underway, the Change room nearly fully operational and the Wet High Intensity Magnetic Separator (WHIMS) being installed, among other items.

The overall project budget has also been lowered to C$95.5 million from the previous C$97.75 million due to reductions in the scope of work, with commitments to date of C$41.6 million compared to the planned C$45.4 million. The project team's continuous communication and close contact with vendors has resulted in innovative strategies to maintain the planned schedule, with contingency plans in place to mitigate any potential delays to equipment deliveries.

NAL currently has approximately 70 staff on-site, with Sayona Quebec recently further strengthening its management team with the appointment of Exploration Director, Dominic Fleming; Finance Director, Fady Abu Nasr; and Vice-President of Health and Safety, Bernard Toupin, among other hires.

Importantly, there have been no lost-time incidents to date, reflecting the Company's commitment to a Zero Tolerance policy regarding safety. Operational readiness, pre-operational and verification plans including training and process operational support ramped up during the period, with operators being recruited early in the process to ensure an efficient and effective start-up.

Meanwhile, in a new milestone for Sayona, S&P Dow Jones Indices announced that the Company will join the benchmark S&P/ASX200 index prior to the open of trading on Monday, 19 September 2022. The promotion follows strong growth in Sayona's market value over the past year and will spur increased institutional investment in the Company.

Sayona's Managing Director, Brett Lynch commented: "We are delighted to see the continued progress towards the recommencement of lithium (spodumene) production at NAL in Q1 2023. Our project team has overcome potential challenges due to proactive forward planning and the early ordering of critical long-lead equipment items, while the near completion of permitting and procurement puts us in an excellent position.

"Our recent achievements have been recognised by investors, as seen by our promotion to the S&P/ASX200 index, and I would like to thank shareholders for their continued support. With the right team in place, an ESG-friendly operation due to Quebec's clean and green hydro power and the backing of key stakeholders, we are well placed for further growth as the leading lithium producer in North America."

The relaunch of the NAL operation was formally approved by the board of Sayona and partner Piedmont Lithium (ASX:PLL) in June (refer ASX release 28 June 2022).

Significantly, 50% of NAL's lithium carbonate plant has already been built, with Sayona evaluating plans for lithium carbonate or hydroxide production as per its commitment to launch downstream processing in the Canadian province, benefitting from its sustainable hydroelectricity, world-class infrastructure and access to key battery markets.

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About Sayona Mining Limited:

Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:SYAXF) 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 Quebec, Canada and in Western Australia.

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

Source:
Sayona Mining Ltd.

Contact:

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