Sayona Mining Limited: NAL Restart on Track & on Budget

Brisbane, Australia - Emerging lithium producer Sayona Mining Ltd. (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) has further advanced the restart of lithium production at its flagship North American Lithium (NAL) operation in Quebec, Canada, with the operation tracking on time and on budget for its March 2023 restart.

Progress towards the concentrator restart and construction progress had both reached 96% as at the end of January 2023, with the operation recently achieving an intermediate milestone of feeding ore into the crushing plant (refer ASX release 31 January 2023).

Overall project commitments and costs are in line with budget, with procurement completed and all major procurement packages received at site including the Belt Filter, Vacuum pump and WHIMS Rectifier-Reducer.

The project team is now progressing the next intermediate milestone, the start-up of process operations, which comprises the circulation of ore through the entire system, from crushing through sorting, grinding and separation. Commissioning activities are anticipated to be completed this month, with several vendor representatives on-site to assist with commissioning and start-up activities.

Continuing its strong relationships with local stakeholders, Sayona held numerous meetings with mayors and local residents of municipalities near the operation, including discussions on future ore transportation between NAL and the nearby Authier Lithium Project. Further public consultations are planned to enhance both NAL and the Authier project for the benefit of local communities, including an electrification plan for NAL. The Company is contributing to the development of neighbouring communities and First Nations, including recently sponsoring the Pikogan community hockey tournament (see photo below).

Sayona expects the first shipment of spodumene (lithium) concentrate from NAL will occur in July 2023, with four shipments targeted for the first half of fiscal 2024. The Company is targeting total production between 85,000 tonnes and 115,000t during this period (refer ASX release 10 February 2023).

Sayona's Managing Director, Brett Lynch commented: "Progress to date has been excellent, and I congratulate the project team for delivering the NAL restart on time and on budget - a remarkable achievement in the current inflationary environment and amid supply chain pressures.

"With lithium demand continuing to rise and supply limited, NAL is in an excellent position to benefit as we move towards becoming North America's leading integrated lithium producer."

*To view photographs, please visit:
https://abnnewswire.net/lnk/6I57EFM5

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