Sayona Mining Limited: NAL Restart Accelerates Towards Target

Brisbane, Australia - Emerging lithium producer Sayona Mining Ltd. (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) has pushed ahead towards the recommencement of production in Q1 2023 at its flagship North American Lithium (NAL) operation in Quebec, Canada, with work continuing during the Christmas holiday period to ensure deadlines are met.

Progress towards the concentrator restart neared nearly 90% by the end of December for engineering and construction, with all critical equipment received, including the Vacuum pump and WHIMS Rectifier-Reducer. Installation of the LIMS was completed, together with the third ore sorter and other key items.

Up to 50 workers from selected contractors continued working during the Christmas holidays to maximise progress. Importantly, there were no recordable injuries during the period, reflecting Sayona's focus on maintaining a Zero-Tolerance policy regarding safety.

Pre-operational verifications and operational readiness continues to progress, including training and process operational support, with 75% of electrical and mechanical inspections completed.

As previously reported, all environmental approvals have been received (refer ASX release 12 December 2022), significantly de-risking NAL's restart. No environmental-related incidents were reported during the period, reflecting Sayona's focus on maintaining the highest environmental standards Commitments to end December totalled C$49 million versus planned commitments of C$49.3 million, with potential cost savings being further investigated. All equipment required for the restart has been procured, with all major procurement packages received at site.

NAL's advances towards the production of locally sourced lithium in Quebec in 2023 follow continued demand growth from electric vehicles (EVs) in North America. In the United States, EV sales nearly doubled from 2021 to 2022, while Canada is targeting 60% of all vehicle sales to be electric by 2030.

Almost US$300 billion of investment in new lithium-ion battery gigafactories has now been announced, including US$131 billion in 2022, up 24% on the prior year, according to analysts Benchmark Minerals Intelligence.

Sayona's Managing Director, Brett Lynch commented: "Sayona continues to advance towards the restart of production at NAL this quarter, and I congratulate the project team for pushing through the holiday period to ensure targets are met. This is particularly noteworthy given widely publicised global supply chain issues and cost pressures, with our team working hard to mitigate any potential issues.

"We now plan on releasing bimonthly updates on the NAL restart as we accelerate closer towards production.

"With demand from North America's EV and battery sector continuing to increase, NAL's outlook is excellent, putting Quebec in a highly strategic position as a clean and green, economical and stable supplier of this vital battery mineral."

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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