Lithium

Sayona Mining Ltd is a mineral exploration and development company. The principal activity of the company is the identification, acquisition and evaluation of mineral exploration assets, focusing on lithium and graphite. The company's primary focus is the development of the advanced stage Authier lithium project in Quebec, Canada. It also holds interests in East Kimberley Graphite Project and West Australian Lithium Project.

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Sigma Lithium Announces Filing Technical Report With Outstanding Economic Results Of The Integrated Phase 1 & 2 Projected Production: After-Tax Npv Of Us$5.1 Billion & Average Annual Free Cash Flow Of Us$595 Million; Continues Evaluating Phase 3

SIGMA Lithium Corporation, dedicated to powering the next generation of electric vehicles with environmentally sustainable and high-purity lithium, is pleased to announce the filing of its consolidated Phase 1 DFS and Phase 2 PFS Update of the NI 43-101 Technical Report for its 100% owned Grota do Cirilo Project.

HIGHLIGHTS

  • The phased expansion scenario will potentially position Sigma Lithium as the world's fourth largest lithium producer.
    • Run-rate combined production of 531,000 tpa (72,200 tpa LCE) of Battery Grade Sustainable Lithium.
    • Expected to be among the lowest cost lithium producers globally with average cash costs of US$454/t (CIF China).
    • Combined average annual free cash flow of US$595 million over the 13-years of operation.
  • Sigma Lithium is in construction of a greentech lithium processing plant integrated with its own lithium ore feedstock.
    • The Company is fully funded to production for remaining Phase 1 capex of US$111 million.
    • Phase 1 remains on schedule and on budget to begin commissioning by year-end 2022.
    • Phase 2 Greentech Plant and mine capex is estimated at US$76 million.
    • Detailed engineering and feasibility level geotechnical workstream are being initiated at Phase 2.
    • Therefore, construction of Phase 2 is expected to begin once Phase 1 initiates commissioning.
  • The technical report projects results for an integrated, multi-stage approach to development of Phase 1 and Phase 2 production of Battery Grade Sustainable Lithium as follows:
    • Combined after-tax NPV8% of US$5.1 billion.
    • Combined after-tax IRR of 589%.
    • 13-year project life (fully integrated with both Phase 1 & 2 mines).
  • Sigma Lithium's integrated technical report encompasses just two initial production phases of the Grota do Cirilo Project (Phase 1 and Phase 2). Sigma Lithium continues to work on the remaining six former artisanal mines within its properties in order to prepare them for potential development.
    • Phase 1 Feasibility Study contemplates the Greentech Plant fully integrated with the Phase 1 mine, both currently in construction:
      • Expected to produce 270,000 tpa of Battery Grade Sustainable Lithium (36,700 tpa LCE).
      • Estimates annual steady-state free cash flow of US$455 million over the 8 years of operation.
      • After-tax NPV8% of US$2.6 billion, IRR of 571% over an 8-year operating life, and payback period of just 3 months.
      • Average All-In Sustaining Costs projected to be US$459/t (cash production costs plus royalties and transportation costs CIF China)
    • Phase 2 Pre-Feasibility Study evaluates a second "twin" Greentech Plant fully integrated with the Phase 2 mine:
      • Expected to produce an additional 261,100 tpa of Battery Grade Sustainable Lithium (35,500 tpa LCE).
      • Estimates annual steady-state free cash flow of US$342 million over the 12 years of operation.
      • After-tax NPV8% of US$2.4 billion, IRR of 764% over a 12-year operating life, and payback period of just 2 months.
      • Average All-In Sustaining Costs projected to be US$453/t (cash production costs plus royalties and transportation costs CIF China)
    • Phase 3 preliminary economic assessment: targeted for summer 2022, with the goal of planning a potential Phase 3 production expansion from its existing estimated 59 million tonnes of mineral resources (50.3 million tonnes of measured and indicated mineral resources and 8.6 million tonnes of inferred mineral resources).
  • Combined Phase 1 + Phase 2 has the potential to be one of the lowest-cost operations globally of Battery Grade Sustainable Lithium.
    • Significant cost advantage from vertical integration with Sigma Lithium's 33.6 million tonnes of estimated high-grade mineral reserves.
    • Phase 1 spodumene ore feed grade of 1.55% Li2O, Phase 2 spodumene ore feed grade of 1.37% Li2O.
    • Average FOB Cash Costs of US$340/t (FOB Greentech Plant, at operation's truck bay).
    • Average CIF Cash Costs of US$454/t (CIF China).
  • Sigma Lithium is expected to produce the world's most environmentally responsible lithium:
    • 100% of the tailings to be dry stacked.
    • 100% clean, renewable hydro power.
    • 100% of the water recirculated/reused in the plant – and sourced from a river with "high chemical levels of raw sewage contamination".
  • Grota do Cirilo is located in Brazil, a tier-1 metals and mining operating jurisdiction with existing complete infrastructure: transmission power lines, roads and ports.
    • Close proximity to the emerging Atlantic supply chain for electric vehicles in North America and Europe.

SIGMA Lithium Corporation ("Sigma Lithium" or the "Company") (NASDAQ: SGML,TSXV: SGML), dedicated to powering the next generation of electric vehicles with environmentally sustainable and high-purity lithium, is pleased to announce the filing of its consolidated Phase 1 DFS and Phase 2 PFS Update of the NI 43-101 Technical Report (the "Consolidated Technical Report") for its 100% owned Grota do Cirilo Project (the "Project" or "Grota do Cirilo"). The Consolidated Technical Report incorporates the Phase 1 Feasibility Study and a Phase 2 Pre-Feasibility Study, and demonstrates robust combined economics, highlighted by a combined after-tax NPV8% of US$5.1 billion and combined after-tax IRR of 589%.

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