Ann: Positive Pre-Feasibility Study Enhances NAL Value, page-67

Reasoning behind the PFS rather then DFS listed below,please note Authier feasibility due later in Q2.

Mr Lynch added: "In doubling the expected mine life due to the expanded resource base at NAL, forecasttailings volumes on site significantly increased. Sayona has taken the proactive decision to dry stack tailings,reducing their environmental impact, in a move reflective of the Company's ESG focus."This initiative requires detailed engineering to reach definitive feasibility study (DFS) standard. In themeantime, we plan on releasing an updated feasibility study for our Authier project later in Q2, further demonstrating the value of our Abitibi lithium hub.