Sayona Mining Ltd: Drilling Boosts Prospects for New Lithium Deposit at Tansim

Brisbane, Australia - Emerging lithium miner Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:DMNXF) announced today positive results from Phase 1 drilling at the Company's Tansim Lithium Project, boosting the prospects for an additional lithium deposit within close proximity to its flagship Authier project in Quebec, Canada.

Highlights

- Two sub-parallel pegmatite dykes with coarse grain spodumene mineralisation intersected at Viau- Dallaire prospect at Tansim Lithium Project, Canada, striking east-west for 350m

- New drilling highlights spodumene mineralisation zones in both dykes, including 12.35 metres @ 1.29% Li2O at near surface outcropping dyke and 43.7m @ 0.82 % Li2O, including 16.1m @ 1.26 % Li2O in non-outcropping second deeper dyke

- Drilling program demonstrates Viau-Dallaire pegmatite system is open in all directions, with potential for discovery of additional sub-parallel hidden pegmatites

- Results boost prospects for potential new lithium deposit at Tansim, located 82km south-west of Sayona's flagship Authier Lithium Project.

Tansim was acquired in January 2018, comprising some 139 mineral claims covering 8,500 hectares, and is prospective for lithium, tantalum and beryllium. It is located just 82 kilometres south-west of Authier in the heart of Quebec's emerging lithium province.

The 11 diamond drill holes completed at Viau-Dallaire intercepted variable concentrations of spodumene mineralisation distributed in two sub-parallel dykes (including a deeper non-outcropping dyke) with best drilling intercepts including:

- Hole VD19-01 - 6.3m @ 1.28 % Li2O from 3.9m including 2m @ 1.66 % Li2O from 6m and 6.5m @ 1.28 % Li2O from 13.5m, including 3.5m @ 1.78 % Li2O from 13.5m (shallower dyke);

- Hole VD19-05 - 12.35m @ 1.29 % Li2O from 4m, including 5m @ 1.63 % Li2O from 9m (shallower dyke); and

- Hole VD19-10 - 43.7m @ 0.82 % Li2O from 108.2m, including 16.1m @ 1.26 % Li2O from 135.8m.

Assay results for the entire drilling program are detailed in Table 1(see link below).

Six drill holes successfully tested the outcropping Viau-Dallaire pegmatite at near-surface levels, while five step back drill holes tested the vertical extension of the shallow dyke.

Four of the latter intercepted a second non-outcropping deeper pegmatite dyke 40 to 50m wide and subparallel to the shallow one. The system is open in all directions.

Welcoming the results, Sayona's Managing Director Dan O`Neill said: "Tansim offers great promise as a highly prospective addition to our lithium project pipeline in Quebec, either as a standalone project or feeder project to Authier.

"We are delighted by these initial results and are planning more drilling at Tansim, as we work to unlock increased value for shareholders and develop a sustainable new lithium industry for the province."

Phase 1 Diamond Drilling Program

The Phase 1 diamond drilling program at Viau-Dallaire comprised 11 NQ diameter holes for 1,219m, based on the following objectives:

- Testing the outcropping spodumene bearing pegmatite at Viau Dallaire prospect along strike and to depth;

- Exploring for other potential mineralised dykes within the prospect; and

- Starting the collection of data for further metallurgical test work.

The pegmatite system at Viau-Dallaire comprises at least two albite-spodumene-quartz granite pegmatite dykes striking east-west around 350m and dipping 50deg to the north. The host rocks are schist and ultramaphic metamorphic rocks. The shallower outcropping dyke width ranges between 10-20m whereas the second deeper dyke (no outcropping) has a width ranging between 40-50m.

Lithium mineralisation is related to pulses of zoned spodumene bearing albite-quartz granite pegmatite dykes. Higher lithium grades are related with high concentrations of coarse to very coarse spodumene crystals (up to 20cm long axis) in a mid to coarse grained pegmatite facies.

Lithium grade variability is related to changes in spodumene concentration.

Drilling Program Summary

The following summarises the key outcomes of the drilling program:

- Holes VD19-00, VD19-01, VD19-02, VD19-04, VD19-05 and VD19-06 tested the outcropping Viau- Dallaire pegmatite dyke at shallow levels following historical channel sampling of 10.3m @ 1.40% Li2O, 11.15m @ 0.84%Li2O and 18.95m @ 0.94% Li2O (including 7.3m at 1.77% Li2O) as well as Sayona's reconnaissance grab sampling, which comprised 14 samples returning grades ranging between 0.96 % Li2O to 2.47 % Li2O (see Sayona ASX release 20 August 2018). All the drill holes intercepted 5 to 20m of pegmatite with variable grades of Li2O % at shallow levels (see Table 1 and Figures 3 to 7 in link below);

- Holes VD19-03, VD19-07, VD19-08, VD19-09 and VD19-10 (step back drill holes) successfully tested the vertical extension of outcropping Viau-Dallaire pegmatite dyke as well as intersected a second deeper dyke 40 to 50m wide at a vertical depth of 100m (see Figures 4 to 7 in link below). Hole VD19- 03 was stopped before target depth due technical problems and did not hit the deeper pegmatite.

Holes VD19-00 to VD19-06 did not reach enough depth to intersect the deeper dyke at shallower levels.

Tansim Lithium Project

Tansim is located 82km south-west of Sayona's flagship Authier Lithium Project in Quebec. The project comprises 139 mineral claims covering 8,500 hectares, and is prospective for lithium, tantalum, and beryllium.

Historical exploration on the property has included mapping, sampling, geophysics and preparation of a Canadian NI 43-101 report.

Access is via a well-maintained paved road to Remigny or Bellecombe (50km south-east of Rouyn-Noranda), then by a series of bush and logging roads. A Hydro Québec 120 kv power line crosses the forest 1km north of the property.

Mineralisation is hosted within spodumene-bearing pegmatite intrusions striking east-west, dipping to the north and hosted by metasedimentary - metavolcanic rocks of the Pontiac sub-province.

The main prospects are Viau-Dallaire, Viau and Vezina. Sayona has conducted an airborne geophysics survey which confirmed a strong east-west magnetic anomaly coincident with historical surface mapping of pegmatites over an area 9km long and up to 700m wide (similar structural setting to Authier).

Sayona has also conducted reconnaissance selective sampling at the Viau-Dallaire, Viau and Gauthier prospects, with a total of 21 samples taken (refer ASX release 20 August 2018).

Planned work

- Follow-up drilling at Viau-Dallaire prospect to extend existing pegmatite dyke and test for additional sub-parallel dykes;

- Additional exploration at Viau prospect; and

- First metallurgical test work.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/088PHO8Z

About Sayona Mining Ltd:

Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:DMNXF) 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:

Dan O Neill Managing Director Phone: +61-7-3369-7058 Email: info@sayonamining.com.au www.sayonamining.com.au