Sayona Mining Limited (SYAXF) Moblan Increases Resource to 121Mt and Reserve to 48Mt

North American lithium producer Sayona Mining Limited (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) announced today results from the updated JORC Mineral Resource and Ore Reserve Estimates at its Moblan Lithium Project (Sayona 60%; Investissement Quebec 40%), demonstrating the potential of this highly strategic asset.

Highlights

- Total Mineral Resource Estimate increased to 121Mt at 1.19% Li2O.

- This is an increase in Mineral Resources of 30% compared to the previous estimate released on 27 August, 2024 and an increase of more than 650% since Sayona acquired Moblan in September 2021.

- Total Ore Reserves increased to 48.08 Mt at 1.31% Li2O.

- This is an increase in Ore Reserves of 39% compared to the previous estimate released on 20 February, 2024 and more than 350% increase since Sayona acquired Moblan in September 2021.

- The estimate is based on updated geological models, revised economic parameters and an optimised mine plan.

- Mineral Resource and Ore Reserves reported are in compliance with the JORC Code (2012 Edition).

Mineral Resource Estimate (MRE) and Ore Reserves Estimate Details

Sayona has significantly expanded its Canadian lithium resource base with this updated JORC Mineral Resource estimate for its Moblan Lithium Project. Results from the updated MRE reinforce the project's status as the centrepiece of Sayona's Eeyou-Istchee James Bay hub in northern Quebec.

Sayona now has a total estimated JORC Measured, Indicated and Inferred Mineral Resource of 121 million tonnes at 1.19% Li2O at a cut-off grade of 0.55% Li2O (Table 1*), this is an increase of 30% over the previous MRE (27 August 2024) of 93.1 million tonnes (Mt) at 1.21% Li2O.

Approximately 89% of the total tonnage is in the higher confidence Measured and Indicated categories. The mineral resources are constrained by the claim limits and within a resource level conceptual pit shell. The exceptional increase in mineral resources at Moblan reflects the addition and integration of all the drilling results from the 2024 program (addition of 261 drillholes for 74,953 m) (Figure 1*).

Sayona's Managing Director and CEO, Lucas Dow, commented: "The further expansion of our Moblan Lithium Project's resource base is a testament to Sayona's commitment to unlocking the full potential of our assets in the Eeyou-Istchee James Bay region. Work by the Sayona technical team has seen a more than sixfold increase in the resource from when the project was purchased in 2021, to a total resource today of 121 million tonnes at 1.19% Li2O.

"Moblan remains one of the largest and best located development stage lithium projects in Quebec with access to hydropower, immediately adjacent to an all-weather highway and 130km from the Chibougamau rail head linking the resource directly to future processing in Becancour or export facilities in Eastern Canada."

The Moblan Ore Reserves have been estimated with an effective date of June 30th, 2025. A total of 48.08Mt of Proven and Probable Ore Reserves are estimated at an average grade of 1.31% Li2O, which is comprised of 5.33Mt of Proven Ore Reserves at an average grade of 1.57% Li2O and 42.75Mt of Probable Ore Reserves at an average grade of 1.27% Li2O.

The updated Ore Reserves represent a 39% increase since the previous declaration and may underpin higher production and/or longer mine life.

To view the Moblan JORC Mineral Resource Estimates Statement, please visit:
https://abnnewswire.net/lnk/2L8I72GN

Andrew Barber
President Investor Relations
T: +61-7-3369-7058
E: ir@sayonamining.com.au

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