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SYAXF - Mining Limited (ASX:SYA) Quarterly Activities Report Brisbane, April 28, 2023 - (ABN Newswire) - North American lithium producer Sayona Mining Limited (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) has produced the first lithium at its flagship North American Lithium (NAL) operation in Quebec, Canada, becoming North America's leading hard rock lithium producer, as highlighted in this Quarterly Activities and Cashflow Report for the March quarter 2023.

Quarter Highlights

Quebec, Canada

- First commercial grade spodumene (lithium) concentrate produced at NAL operation

- NAL restart achieved on time and within budget, making Sayona North America's leading hard rock lithium producer

- Large scale drilling program planned with Jourdan Resources of over 50,000m at NAL and Jourdan's adjacent Vallee Lithium Project (earn-in claims)

- C$50 million capital raising (flow-through shares) to advance Quebec lithium projects

Western Australia

- Approvals obtained for drilling campaign at Mallina Lithium Project; statutory and heritage approvals secured for Tabba Tabba Project

Post-Quarter

- Definitive Feasibility Study (DFS) confirms NAL value with A$2.2B NPV (8% discount)

- Major resource expansion for Moblan Lithium Project, with estimated Measured, Indicated and Inferred Resource of 51.4 Mt @ 1.31% Li2O (sensitivity analysis at 0.55% Li2O cut-off grade), representing one of the single largest lithium resources in North America.

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/13KT815R


WEB: Quarterly Activities/Appendix 5B Cash Flow Report


About: Sayona Mining Limited

Sayona Mining LtdSayona Mining Limited (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




Contact:
Brett Lynch
Managing Director
Phone: [phone]
Email: [e-mail]