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Sayona Mining Limited (ASX:SYA) and Piedmont Lithium Announce Successful Restart
North American lithium producer Sayona Mining Limited (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) and Piedmont Lithium Inc. (NASDAQ:PLL), a leading global developer of lithium resources, today announced the successful restart of commercial spodumene concentrate production at the jointly-owned North American Lithium ("NAL") project in Quebec. The US$80 million restart of NAL was completed on time and on budget and is the only major source of new spodumene production expected in North America in the next two years. Sayona is targeting 226,000 metric tons per year of annual production with first commercial shipments expected in Q3 2023.

Sayona's Managing Director Brett Lynch commented on the efficient recommencement of NAL. "Since announcing our restart intentions in 2021, our project team has maintained a forward-looking focus to improve lithium capture, achieve more consistent runtimes, and streamline operating costs from the past-producing operation. Improvements were made as planned in our timeline and budget, and we are eager to see the impact the upgrades bring to both product quality and operational efficiency as we prepare for our first commercial shipments of spodumene concentrate expected in July of this year."

Piedmont's President and Chief Executive Officer Keith Phillips added, "We applaud the work of the operating team in bringing the restart of NAL to fruition. This marks an exciting milestone not only for Piedmont Lithium and Sayona Mining, but the North American market for which we are working to supply critical lithium resources. NAL is positioned to be a key contributor to the electric vehicle and battery supply chains as demand for lithium continues to rapidly expand along with the electrification economies in both Canada and the U.S."

NAL is one of three projects of Sayona Quebec, a joint venture between Sayona (75%) and Piedmont (25%). Sayona is targeting four shipments from NAL totaling up to 120,000 metric tons by the end of 2023, which are expected to supply key battery and electric vehicle manufacturers, including LG Chem and Tesla.

Powered by renewable hydroelectricity, NAL is ideally located in the Abitibi region of Quebec with convenient access to rail, highway, and port infrastructure to bring lithium concentrate to the market.

Production at NAL is expected to be supported by the mineral resources of Sayona Quebec's Abitibi Hub projects. Mineral resource estimates have been determined by Sayona and reported in accordance with JORC Code (2012) and NI 43-101 standards. Sayona Quebec is expected to provide an updated Definitive Feasibility Study for both NAL and its Authier Lithium Project. Additionally, a new, large-scale, extensive drill program is planned for 2023 by NAL and Jourdan Resources Inc. related to both NAL and the adjacent Vallee Lithium Project. The intent of the program is to define a mineral resource base capable of supplying more tons and enhanced material quality to the NAL concentrator.

A prefeasibility study ("PFS") is currently underway to evaluate downstream production at NAL through the completion of the project's lithium carbonate plant, which was partially constructed by prior owners of the operation. Results of the PFS are expected in H1 2023. Further evaluation of downstream production of lithium carbonate or lithium hydroxide in Quebec may follow the PFS study.

About Piedmont Lithium

Piedmont Lithium (NASDAQ:PLL) is developing a world-class, mu/ti-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX:SYA) and in Ghana with Atlantic Lithium (AIM:ALL). These geographically diversified operations will enable us to play a pivotal role in supporting America's move toward energy independence and the electrification of transportation and energy storage.

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Brett Lynch
Managing Director
Phone: +61 (7) 3369 7058

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