Highlights

• The North American Lithium (NAL) Complex in Quebec has started processing operations, a new milestone in the restart of the complex.
• NAL is well on its way to resuming spodumene (lithium) production in March 2023.

La Motte, February 27, 2023 – Sayona has reached another milestone in the resumption of spodumene (lithium) production at the North American Lithium (LAN) Complex in Quebec, Canada, with the successful start of processing operations.

Once commissioning activities had been completed, the start-up included running ore through the entire system, from crushing to sorting, grinding, and separation.

The restart is proceeding on time and on budget. The production of the first saleable lithium concentrate is slated for late March 2023. This marks an important milestone for both Sayona and Quebec, as the leading hard rock lithium producer in North America. This announcement is part of Sayona’s usual twice-monthly updates as the company moves towards its planned production.

Sayona expects NAL’s first spodumene (lithium) concentrate shipment to occur in July 2023, with four shipments targeted for the first half of FY2024. The company is targeting total production of between 85,000 and 115,000 tons over that period (see ASX release dated February 17, 2023).

“Congratulations to the entire Sayona team for the continued progress towards NAL’s restart, which has been an incredible achievement. With the production of saleable lithium concentrate just days away, this is an exciting time for both Sayona and Quebec as we work to build the leading integrated lithium production centre in North America,” said Brett Lynch, Sayona’s Managing Director and CEO.

Left to right: Sébastien Boivin, NAL’s Plant Optimization Manager; Jean Roy, Plant Manager; Gabriel Fortin, Plant Technical Expert; Yves Desrosiers, NAL General Manager; Sylvain Collard, Executive Vice President and Chief Operating Officer.

Issued on behalf of the Board of Directors.

References to previous ASX releases

• NAL Restart On Track & On Budget – February 17, 2023
• Investor Presentation – February 10, 2023
• Quarterly Activities Report – January 31, 2023
• New NAL Milestone with Successful Ore Crushing Trial – January 31, 2023

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

About Sayona

Sayona is dedicated to the exploration and mining of lithium, the raw material used to manufacture electric batteries. The company is working on a range of projects, almost all of which are in Quebec. In particular, it owns the North American Lithium Complex, which will start production in early 2023. The complex will become a key component of the lithium hub that the company wishes to establish in Abitibi-Témiscamingue. The Authier and Tansim deposits, owned by Sayona, form part of this hub. Sayona also owns 60% of the Moblan project and 100% of the Lac Albert project, both located in the Eeyou Istchee James Bay territory. The company is a subsidiary of Sayona Mining Limited, which is listed on the Australian Securities Exchange. With a market value of approximately C$2 billion, it was included in the S&P/ASX200, which consists of the 200 companies with the largest market capitalizations in Australia.

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Informations and media requests:

Cindy Valence
Chief Sustainability Officer
C : (819) 277-5396
Email: cindy.valence@sayona.ca