Sayona Mining Ltd (DMNXF) Phase 2 Drilling Completed at Mallina Lithium Project

Highlights

- 30 holes totalling 2,225m completed at Area C, Discovery, and Eastern Group Pegmatite prospects

- Drilling intercepts target pegmatites with anomalous lithium assay results including:

o 4m @ 2.18% Li2O from surface, including a peak assay value of 3.18% Li2O over 1m from 2m in hole SMRC040 (Area C prospect)

o 6m @ 1.64% Li2O from 17m in hole SMRC044 (Discovery prospect) and

o 20m @ 1.12% Li2O in hole SMRC042 from 4m (drilling down-dip - Eastern group Pegmatite 2 prospect)

- Mineralisation open along strike to north at Area C and Discovery prospects.

A total of 30 reverse circulation drill holes for 2,225 metres were completed over four spodumene pegmatite prospects within a 20 sq km area of the Mallina project. Drilling intersected a varied suite of pegmatite and aplite bodies of variable dip, strike and thickness.

The identification of spodumene pegmatite from surface and of good intensity (to a maximum 3.18% Li2O) has provided encouraging evidence that the project can host economic grades of lithium mineralisation. The intercept, from northernmost portion of Area C prospect remains open at depth and to the east, south and north.

Further drilling is required to understand the morphology of the pegmatites in more detail and to target potentially thickened portions of the spodumene mineralisation. Lithium assay results are presented in Table 1 (see link below) and displayed in cross sections overleaf.

Commenting on the results, Sayona's Managing Director, Dan O'Neill said: "The Company is pleased that the drilling has identified spodumene pegmatite from surface, which remains open along strike to the north. This is only the second round of Sayona's drilling at the 100km2 Mallina project, which has not previously been drilled for its lithium potential.

"Mallina adds to our other prospective projects in Western Australia including Moolyella and Tabba Tabba, providing the potential for further upside while we progress our flagship Authier Lithium Project in Canada towards near-term production for the benefit of all shareholders."

Twenty-one drill holes were completed at the Area C prospect. Drilling targeted the peak lithium soil anomalism and identified a complex series of narrow, east dipping pegmatite lenses. The northern drill line however, completed over an area of thin transported cover, intersected multiple thicker pegmatites with a best intercept in hole SMRC040 of 4m @ 2.18% Li2O from surface, including 1m @ 3.18% Li2O between 1-2m.

The pegmatite, intersected from 0-22m also returned 3m @ 0.87% Li2O from 12m (see cross section, 7670850N below). The true thickness of the pegmatite units is not known. The drilling remains open at depth and to the east and north. The central and southern portions of Area C returned only narrow mineralisation with a best intercept of 1m @ 0.90% Li2O.

Of the four holes targeting the Discovery prospect, hole SMRC044 returned a best intercept of 6m @ 1.64% Li2O from 17m (see cross section below). Mineralisation in this east dipping pegmatite remains open to the north.

At the Eastern Group pegmatites, a down-dip drillhole was completed at Pegmatite 2, sited to test for vertical variations in grade and to highlight any possible weathering effects at depth. SMRC042 intersected pegmatite from 0m-125m with two zones of lithium mineralisation of 20m @ 1.12% Li2O from 4m and 12m @ 0.87% Li2O from 28m.

This mineralisation, when combined with 2017 drill data (see section 7670120N below) identifies a near surface zone of mineralisation extending to some 50m depth. Structural studies indicate the spodumene pegmatites have a moderate plunge and this remains untested by drilling. Drill hole cross section, 7670850N is displayed below(see link below).

To view tables and figures, please visit:
http://abnnewswire.net/lnk/8F634WR7

About Sayona Mining Ltd:

Sayona Mining Limited (ASX:SYA) (OTCMKTS:DMNXF) is an Australian-based, 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's primary focus is the development of the Authier Lithium deposit in Quebec, Canada however exploration for additional lithium deposits is also ongoing in the Authier region and in the Pilbara of Western Australia where the Company has an extensive lithium exploration package of tenements.

Source:

Sayona Mining Ltd

Contact:

Dan O Neill
Managing Director
Phone: +61-7-3369-7058
Email: info@sayonamining.com.au
www.sayonamining.com.au