Electric Royalties provides update on Authier Lithium Royalty

Electric Royalties announced that Sayona Mining has voluntarily submitted its Authier Lithium Project for an environmental impact assessment and review under the Quebec Government’s ‘BAPE’ process. According to Sayona’s news release dated February 27, 2023, its request has been accepted by Quebec’s Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks. The BAPE’s mission is assist government decision-making by communicating to the environment minister findings and opinions that reflect any local concerns that are based on the principles of the Sustainable Development Act. Sayona also reported that its nearby North American Lithium operation in Quebec, Canada, is on track to recommence spodumene production in March 2023. The start-up of process operation was reportedly successful, and comprises the circulation of mineralized material through the entire system, from crushing through sorting, grinding and separation. Authier is envisioned by Sayona to become a source of spodumene feed for the NAL concentrator. As a result, the Authier Project no longer requires its own concentrator or tailings storage, and the planned daily output below the 2,000-tonne threshold has resulted in a considerably reduced environmental impact compared to the original regulatory submission. Electric Royalties holds a 0.5% gross metal royalty on the Authier Lithium Project.