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Sayona Mining Limited (ASX:SYA) NAL restart on track with permitting nearing completion

NAL restart on track allowing supply almost complete

Brisbane, September 16, 2022 AEST (ABN Newswire) – Emerging lithium producer Sayona Mining Limited (ASX:SYA) (DML: ENG) (SYAXF:OTCMKTS) is on track for the planned restart of spodumene (lithium) production in the first quarter of 2023 at its North American Lithium (NAL) operation in Quebec, construction, procurement, recruiting and other activities continuing to progress.

The NAL project team continued to advance the restart through the summer months of July and August in Quebec, with permit applications now 95% complete and procurement at 94%, with most major supply elements are already on site. Construction activities also intensified during the period, with the installation of the HP300 and HP400 cone crushers well underway, the change room almost fully operational and the Wet High Intensity Magnetic Separator (WHIMS) underway. installation, among others.

The overall project budget has also been lowered to C$95.5 million from the previous C$97.75 million due to the reduced scope of work, with commitments to date of C$41.6 million. CAD compared to the planned CAD 45.4 million. The project team’s ongoing communication and close contact with vendors has resulted in innovative strategies to maintain the planned schedule, with contingency plans in place to mitigate any potential delays in equipment deliveries.

NAL currently has approximately 70 on-site employees, and Sayona Quebec recently bolstered its management team with the appointment of Exploration Manager, Dominic Fleming; Chief Financial Officer, Fady Abu Nasr; and vice-president of health and safety, Bernard Toupin, among other hires.

Importantly, there have been no lost time incidents to date, reflecting the Company’s commitment to a zero tolerance security policy. Operational readiness, pre-operational and verification plans, including training and operational process support, intensified during the period, with operators recruited early in the process to ensure an effective and efficient start.

Meanwhile, in a new step for Sayona, S&P Dow Jones Indices announced that the company would join the benchmark S&P/ASX200 index before markets open on Monday, September 19, 2022. The promotion follows strong growth in the market value of Sayona over the past few years. year and will stimulate increased institutional investment in the Company.

Sayona General Manager Brett Lynch said, “We are pleased to see the continued progress towards the resumption of lithium (spodumene) production at NAL in the first quarter of 2023. Our project team overcame potential challenges through proactive forward planning and early ordering of critical products. long-lead equipment, while near completion of licensing and procurement puts us in an excellent position.

“Our recent achievements have been recognized by investors, as evidenced by our promotion to the S&P/ASX200 Index, and I would like to thank shareholders for their continued support. With the right team in place, an ESG-friendly operation Due to Quebec’s clean and green hydroelectricity and support from key stakeholders, we are well positioned to continue our growth as North America’s leading lithium producer.”

The relaunch of the NAL operation has been formally approved by the board of directors of Sayona and its partner Piedmont Lithium (ASX: PLL) in June (see the ASX version of June 28, 2022).

Significantly, 50% of NAL’s lithium carbonate plant has already been built, with Sayona evaluating production plans for lithium carbonate or hydroxide in line with its commitment to start downstream processing in the Canadian province, benefiting from its sustainable hydropower, world-class infrastructure and access to key battery markets.

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About Sayona Mining Limited

Sayona Mining LtdSayona Mining Limited (ASX:SYA) (OTCMKTS:SYAXF) is an ASX-listed Australian company (SYA) focused on sourcing and developing the raw materials needed to build lithium-ion batteries for the industries rapidly growing new and green technologies. . The Company has lithium projects in Quebec, Canada and Western Australia.

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