Sayona Mining Limited: Produces First Lithium Concentrate at NAL

Brisbane, Australia - Emerging lithium producer Sayona Mining Ltd. (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) has successfully produced the first spodumene (lithium) concentrate at its flagship North American Lithium (NAL) operation in Quebec, Canada, marking another milestone in NAL's restart.

Approximately 70 tonnes of lithium concentrate was produced. Commissioning is proceeding as per plan, with the first saleable concentrate to be produced shortly. NAL's restart is proceeding on schedule and within budget, amid intensifying demand for the key battery metal from North America's fast-growing EV and battery industry.

The NAL operation will represent the most significant source of hard rock lithium production in North America, boosting Quebec's plans for the development of a local battery sector, from mining to manufacturing.

Sayona's Managing Director, Brett Lynch congratulated the NAL team on its latest milestone.

"This is another great achievement for the team at NAL. I extend my thanks to everyone concerned for progressing the NAL restart on time and on budget - something few others have achieved in recent times amid escalating cost and supply chain pressures," Mr Lynch said.

"These are exciting times with the first saleable lithium concentrate to be produced soon, marking the next step in Sayona's evolution towards becoming a leading hard rock lithium producer."

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 17 February 2023).

This announcement continues Sayona's regular, twice monthly updates on the NAL restart.

Extensive drilling program for NAL, Jourdan's Vallee Lithium Project

NAL and Jourdan Resources Inc. have agreed to embark on an aggressive exploration and development program with the aim of expanding and defining sufficient mineral resources to supply increased tonnages to the NAL concentrator.

More than 50,000 metres of drilling are planned in 2023 - likely one of Quebec's largest drilling programs this year - at NAL and Jourdan's adjacent Vallee Lithium Project, comprising the 28 claims subject to the earn-in and joint venture agreement entered into between NAL and Jourdan in November 2022 (refer ASX release 14 November 2022).

More than 24,000m of drilling is planned at the Vallee project (earn-in claims), with the program expected to commence in May 2023.

Jourdan CEO and President, Rene Bharti commented: "This is an historic moment which truly showcases the strong partnership between Jourdan, NAL and Sayona. With Jourdan having over 13,000 hectares of land surrounding Sayona's NAL project, the opportunity to partner with NAL and Sayona to accelerate Jourdan towards production is clear.

"Given that the Sayona NAL concentrator has commenced operations, Jourdan is in a very rare position to benefit from having access to what we expect will become Canada's leading lithium producing mine and concentrator. We are truly proud and honoured at what we see as significant upside potential for both companies, in such a strong lithium environment."

Sayona's Mr Lynch added: "Sayona is excited to be partnering with Jourdan Resources as we undertake a large scale and extensive drill program at NAL and the earn-in claims at the Vallee Project. The combined drilling program will be undertaken in consultation with our local community stakeholders, to pursue a bigger mineral resource base and better grades in the Abitibi Hub capable of delivering increased ore tonnages to the NAL concentrator and a longer mine life."
The Vallee project comprises 48 claims covering around 1,997 ha, closely neighbouring the NAL mine tenure, with 20 leases located within 500m of the mine boundary. In comparison, NAL's leases cover some 582 ha. In November 2022, Sayona announced a strategic acquisition and earn-in by NAL at the project, with NAL acquiring 20 claims outright and with the right to earn up to a 51% stake in the remaining 28 claims (refer ASX release 14 November 2022).

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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