Exhibit 99.1

ASX ANNOUNCEMENT

7 September 2026

NAL Expansion Pre-Feasibility Study

North American lithium producer Elevra Lithium Limited (“Elevra” or “Company”) (ASX:ELV; NASDAQ:ELVR) is pleased to announce the results of a Pre- Feasibility Study (“PFS”) for the staged North American Lithium (“NAL”) Brownfield Expansion in Québec. The PFS confirms the NAL Expansion as a high-value growth project that is expected to significantly increase annual spodumene concentrate production while reducing unit operating costs and generating attractive returns on capital invested.

Highlights:

Elevra’s Managing Director and Chief Executive Officer, Mr Lucas Dow, said: “The NAL Expansion PFS confirms a compelling value proposition for Elevra, with a high-return brownfield expansion that materially increases production while reducing unit operating costs.

The ability to increase average annual production to 373,000 tonnes post-expansion, while reducing LOM average C1 unit costs post expansion to approximately C$851/t (US$630/t)⁴, demonstrates the significant operating leverage available at NAL. The production target and cost profile are underpinned by existing Ore Reserves and historical operating data, providing a strong foundation for the production and financial outcomes outlined in the PFS.

The staged development approach allows us to bring additional production online from mid-2027, by progressively increasing throughput and capturing operating efficiencies while managing project execution and prudent capital deployment.”

Study Confirms Compelling Economics for NAL Expansion

The PFS confirms a compelling economic case for the staged expansion of NAL, with the project expected to materially increase spodumene concentrate production while reducing unit operating costs and generating significant incremental value from an existing operating asset.

The PFS estimates an expansion-only post-tax NPV8% of C$943MM (US$699M)⁴, post-tax IRR of 49.9% and post-tax payback period of 34 months.

The expansion requires initial capital expenditure of C$366 M (US$271M)⁴, with total sustaining expenditure of C$527M (US$390M)⁴ over the expansion case. The financial analysis is unlevered and based on the Mineral Reserves estimated as part of the PFS.

The PFS establishes an average annual production rate of 348ktpa (5.4% Li₂O spodumene concentrate) and an average annual post-expansion production rate of 373ktpa (5.4% Li₂O spodumene concentrate).

Importantly, 100% of the Production Target is underpinned by Proven and Probable Ore Reserves. No Inferred Mineral Resources are included in the economic analysis or Production Target. The PFS states that the economic analysis was based on Measured and Indicated Mineral Resources only, with Inferred Mineral Resources excluded as too geologically speculative for mining and economic considerations to be applied.

Study Confirms Strong Operating Metrics for NAL Expansion

The PFS demonstrates significant operating leverage from increasing the scale of NAL’s existing operation.

Average annual post-expansion spodumene concentrate production is expected to increase from 199ktpa in the base case to 373ktpa post-expansion, while LOM average production increases from 196ktpa to 348ktpa.

LOM C1 operating costs are estimated at C$876/t (US$649/t)⁴ of concentrate, compared with C$1,048/t (US$776/t)⁴ for the base case, while the post-expansion C1 cost is estimated at C$851/t (US$630/t)⁴.

LOM AISC is estimated at C$954/t (US$707/t)⁴, reducing to C$918/t (US$680/t)⁴ post-expansion.

The PFS estimates total LOM operating expenditure of C$5.95B (US$4.41B)⁴ for the expansion case, with the cost estimates supported by actual NAL operating information including salaries, consumables, maintenance costs and established contracts.

Staged Expansion Delivery

The NAL Expansion Project has been designed as a three-stage brownfield development that progressively increases production and reduces unit costs while leveraging existing infrastructure.

Stage 1

Stage 1 is expected to deliver an initial 15-20% increase in annual spodumene concentrate production within NAL’s existing 4,500 tpd milling permit, together with a reduction in unit operating costs.

Stage 2

Stage 2 will expand downstream milling, flotation and filtration capacity to 6,500 tpd, with additional feed initially supported by a temporary mobile crushing circuit. Production from Stage 2 is expected to commence in mid CY28.

Stage 3

Stage 3 will replace the temporary and existing crushing circuits with a new crushing circuit capable of supporting the targeted 373ktpa post-expansion production profile, together with additional ore sorting capacity. Completion is expected in mid CY29.

The staged development approach was adopted to reduce execution risk, bring forward production growth and stage capital deployment.

Pre-Feasibility Study Metrics

Analysis of the financial model on the key economic assumptions indicates that the Project is robust in terms of operational and financial metrics. The Project is most sensitive to changes in commodity prices, exchange rates, head grades and recoveries, with the key Project assumptions and outputs shown in the tables below

(please note that any reference to Base Case means NAL on an unexpanded or “as is” basis):

Table 1 – Main Financial Assumptions and Results Summary for the NAL Expansion Project

⁵ May-26 Scoping shows the results of the Updated Scoping Study for the NAL Expansion. See ASX release “Updated NAL Expansion Scoping Study” dated 12 May 2026.

⁶ Average Price 6% Li₂O varies between the cases due to longer mine life at the long-term US$2,340 price for the base case.

Table 2 – Project Economics

Notes:

Purpose of this ASX Release

This ASX release provides readers with a bridge between prior ASX disclosure on 12 May 2026 “Updated NAL Expansion Scoping Study” and a National Instrument 43-101 Pre-Feasibility Study (attached) that has been prepared for compliance with Quebec, Canada regulatory requirements and to enable subsequent permitting activities for the NAL expansion. The NI43-101 report will also be available on SEDAR.

The Company can confirm that the Resource and Reserve tables reproduced in this ASX release and the NI43-101 report are compliant with both ASX/JORC requirements and those related to NI43-101 reporting. It should also be noted the ore reserves are: (1) not being reported for the first time; and (2) the same as those estimates which were previously reported in the FY26 Annual Report released to the ASX on 28 August 2026.

Mineral Resources and Ore Reserves

The project database contains data from 1,575 diamond drillholes surfaces and underground collared, spanning a total of 27,183 records of Li₂O assays with a mean sample length of approximately 0.884 m. Li₂O grade varies from 0.000% to 5.318%. Global average Li₂O grade for raw samples (excluding 0.00% assays) is 0.783%. From this database, a subset of 562 surface collared drillholes totalling 153,047 m was used for the Mineral Resource estimate.

The current Mineral Resource Estimate and Ore Reserve Estimate are presented in Table 4 and Table 5 below. The Mineral Resource and Ore Reserve estimates were prepared by Competent Persons in accordance with the 2012 JORC Code.

Table 3 – North American Lithium – Mineral Resource Estimates (0.60% Li₂O cut-off grade for the RPEEE pit and 0.70% Li₂O cut-off grade for underground domain)

Table 4 – North American Lithium – Ore Reserves Estimate, as at of June 30, 2026

The information on Mineral Resources and Ore Reserves is extracted from the announcement entitled “2026 Annual Report” published on the ASX on August 28th, 2026, and is available to view on the Elevra’s website on the ASX. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Background

The North American Lithium operation is a hard-rock lithium mining and concentration facility located in La Corne, within the Abitibi-Témiscamingue region of Quebec, Canada. The NAL facility was successfully restarted in March 2023, and the plant is currently permitted for 4,500 tpd of average annual milling rate.

The processing operation consists of three distinct processing areas:

The objective of the NAL expansion project is to increase the plant’s milling throughput to an annual level of 6,500 tpd. Elevra determined that permitting is the critical path constraint and identified a project development sequence that provides a shorter timeframe to achieve increased production from NAL. The additional new permitting information, combined with existing permits, provides a pathway to stage the expansion of production volumes at NAL in a disciplined, agile and more time efficient manner.

The expansion pathway is now proposed to take the form of a series of debottlenecking steps which are expected to:

The debottlenecking steps are anticipated to be delivered as below:

Announcement authorised for release by Elevra’s Managing Director and Chief Executive Officer.

About Elevra Mining

Elevra Lithium Limited is a North American lithium producer (ASX:ELV; NASDAQ:ELVR) with projects in Québec, Canada, United States and a joint venture in Western Australia.

Elevra’s assets comprise North American Lithium (100%), a 60% stake in the Moblan Lithium Project in Central Québec and the Carolina Lithium project (100%) in the United States⁸.

For more information, please visit us at www.elevra.com.

Competent Person’s Statement

The information on Mineral Resources and Ore Reserves are extracted from the announcement entitled “2026 Annual Report” published on the ASX on 28th August 2026 and is available to view on the Elevra’s website or on the ASX. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and all material assumptions and technical parameters continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements

The ASX release dated 28th August 2026 that relates to Mineral Resources for the NAL project – referred to in this announcement – is based on and fairly represents information compiled by Mr Stephen John Andrew, an independent consultant employed by Measured Group and who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Andrews has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code (2012 Edition) of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements

The information in this announcement and the ASX release dated 28th August 2026 relating to Ore Reserves for the North American Lithium project is based on, and fairly represents, information and supporting documentation prepared by Mr. Tony O’Connell an independent consultant employed by Optimal Mining Solutions Pty Ltd and is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr O’Connell has sufficient experience which is relevant to the type of deposits and mining method under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Forward Looking Statements

This press release contains certain forward-looking statements. Such statements include, but are not limited to, statements relating to “reserves” or “resources”. Forward -looking statements are based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond Elevra’s control. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such forward-looking statements.

⁸ See ASX release dated 11 May 2026, “Elevra enters agreement to sell Ewoyaa Project Interest”.

Cautionary Statements

The Pre-Feasibility Study (“PFS”) discussed in this announcement has been undertaken to assess the technical and economic viability of the brownfield expansion of the existing North American Lithium (“NAL”) operation. The PFS is a comprehensive technical and economic study of the expansion project and includes a financial analysis based on reasonable assumptions regarding the applicable Modifying Factors and other relevant factors. The PFS has been prepared to a level of confidence sufficient to support the assessment of technical and economic viability and the estimation of Ore Reserves, as applicable. A PFS is, however, at a lower level of confidence than a Feasibility Study and the estimates and assumptions contained in the PFS remain subject to further refinement through subsequent engineering, design and project execution activities.

The PFS has provided Pre-Feasibility Study level estimates of production, capital and operating costs and financial returns. The production target and forecast financial information included in the PFS are based solely on the current NAL Ore Reserves reported in Elevra Lithium Limited’s 2026 Annual Report released to ASX on 28 August 2026. No Inferred Mineral Resources or Exploration Targets are included in the production target or the economic analysis underpinning the PFS.

The PFS is based on the material assumptions outlined in the attached National Instrument 43-101 Pre-Feasibility Study, including assumptions regarding production rates, metallurgical recoveries, capital and operating costs, commodity prices, foreign exchange rates, permitting, project schedule and other applicable Modifying Factors. While Elevra considers that the material assumptions used in the PFS have a reasonable basis, actual results may differ materially from those anticipated in the PFS and there is no certainty that the assumptions will prove to be correct or that the outcomes indicated by the PFS will be achieved.

Based on the Company’s current cost estimates and existing funding arrangements, Elevra considers the NAL Expansion to be fully funded. However, there can be no assurance that actual project costs will not exceed current estimates or that delays, changes in project scope, permitting requirements, market conditions or other circumstances will not result in additional funding requirements.

This announcement contains forward-looking statements, including statements concerning production targets, production rates, mine life, metallurgical recoveries, capital and operating costs, project timing, commodity prices, financial performance and other economic outcomes. These forward-looking statements are based on assumptions and expectations which Elevra considers reasonable as at the date of this announcement. However, forward-looking statements are subject to known and unknown risks, uncertainties and other factors, many of which are outside Elevra’s control, which may cause actual results, performance or achievements to differ materially from those expressed or implied by those statements.

Given the uncertainties associated with forward-looking information and the fact that a PFS is at a lower level of confidence than a Feasibility Study, investors are cautioned not to place undue reliance on the PFS, the production target, forecast financial information or other forward-looking statements contained in this announcement.

For more information, please contact:

Andrew Barber

Investor Relations

Ph: +617 3369 7058

NAL Expansion FS

Mineral Reserves Pre-Feasibility Study

NI 43-101 Final Report Prepared for Elevra

ELEVRA

SN Document No.: B198-D01-02054-RT-0010 – MDV/mdv

Elevra Document No.: C102-0000-G-RAP-0002

Revision: 0

Sedgman Novopro Projects Inc Registration Number: 1517259-4

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

Revision Status

Distribution

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

Table of Contents

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

List of Tables

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

List of Figures

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

This Mineral Reserves Pre-Feasibility Study (PFS) National Instrument (NI 43-101) Technical Report was prepared at the request of Elevra Lithium Limited (Elevra). The purpose of this NI 43-101 Report is to provide an update to the mineral reserves estimates for the expansion of the North American Lithium (NAL) mine. Elevra serves as the registrant of this NI 43-101-compliant Report. The statement is based on information provided by Sayona Québec and reviewed by various professionals and Qualified Persons (QP).

The information in this Report related to Mineral Resources is based on, and fairly represents, information compiled by the QPs as of the effective date of the Report. Qualified persons who contributed to the drafting of this Report meet the definition of QPs, consistent with the requirements of the NI 43-101 Code. All QPs are independent of the issuer.

This Report provides information from previous reports as context to support the expansion assessment against a base case scenario. The economic analysis presented in this Report was undertaken on the Mineral Reserves as of May 1st, 2026. The Mineral Reserves are based on measured and indicated mineral resources only. Inferred mineral resources have not been considered in the analysis as these are considered too geologically speculative to have mining and economic considerations applied to them.

The North American Lithium (“NAL”) property is wholly owned and operated by Sayona Québec Inc. (“Sayona Québec”), with Elevra owning 100% of Sayona Québec following the merger between Sayona Mining Limited (“Sayona”) and Piedmont Lithium Inc. The NAL property is considered material to Elevra.

The NAL mine site was established in 2012 and has operated during a number of campaigns based on fluctuating commodity pricing. The plant was most recently restarted in 2022 and following a period of ramp up and process optimisation, Elevra now proposes to increase production through a three-stage approach as follows:

Sedgman Novopro Projects Inc. (Sedgman Novopro) was engaged by Elevra in Q1 2026 to complete the Mineral Reserves PFS for major plant and infrastructure expansions to increase spodumene concentrate production at the NAL operation. This Report was prepared as a collaborative effort between Sedgman Novopro, Optimal Mining Pty Ltd (Optimal Mining), BBA, Measured Group Pty Ltd (Measured Group), and Englobe Corp. (Englobe).

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

Sections of the Report contain estimates, projections and conclusions that are forward-looking information within the meaning of applicable Canadian securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Elevra, its project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may,” “would,” “could”, “will,” “intend,” “expect,” “believe,” “plan,” “anticipate,” “estimate,” “scheduled,” “forecast,” “predict” and other similar terminology, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. These statements reflect Elevra’s current expectations regarding future events, performance and results and speak only as of the date of this Report.

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that any Mineral Resources will be converted into Mineral Reserves. The estimation of Mineral Resources is inherently uncertain and involves subjective judgments about many relevant factors. Assumptions and interpretations underlying resource estimates may change over time as new information becomes available.

Forward-looking statements are based upon the responsible QPs opinion at the time that they are made but, in most cases, involve significant risk and uncertainty. Although the responsible QP has attempted to identify factors that could cause actual events or results to differ materially from those described in this Report, there may be other factors that cause events or results to not be as anticipated, estimated, or projected. None of the QPs undertake any obligation to update any forward-looking information. There can be no assurance that forward-looking information in any section of the Report will prove to be accurate in such statements or information.

Accordingly, readers should not place undue reliance on forward-looking information.

IMPORTANT NOTICE

This document is not for filing or distribution in the US.

Sayona Québec acquired the North American Lithium Inc. mine and concentrator in La Corne, Québec, in August 2021. The operation, which had been placed on care and maintenance in 2019, and has been restarted since Fall 2022, includes an open pit hard rock mine, exploiting lithium-bearing pegmatite dykes, with mineral processing and lithium carbonate production facilities.

This Report has been prepared at the request of Elevra, the registrant, to present the results of the Mineral Reserves PFS of a NAL expansion.

The Project’s property (the “Property”) has seen historic production from an underground mine (1950s-1960s) with production of spodumene concentrate and lithium chemicals. More recently the mine and concentrator operated under Québec Lithium (2013-2014) and North American Lithium (2017-2019). Since acquisition on August 26^th, 2021, Elevra Lithium has resumed open-pit mining and restarted concentrator operations, producing spodumene concentrate since Q1-2023.

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

The NAL Expansion Project properties (the “Properties”) are situated in the La Corne Township in the Abitibi-Témiscamingue region in the Province of Québec, Canada (Figure 1-1). The Project is located approximately 38 km southeast of Amos, 15 km west of Barraute and 60 km north of Val-d’Or in the Province of Québec, Canada. The Project is approximately 550 km north of Montréal and is serviced by road, rail, and air.

Figure 1-1: NAL Property Location

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

The town of Val-d’Or, with a population of approximately 32,750 residents (Canadian Census, 2021), is located 60 km south of the Property, along the provincial Highway 111. Since Val-d’Or was founded in the 1920s, it has been a mining service centre. Val-d’Or is one of the largest communities in the Abitibi region and has all major services, including an airport with scheduled service from Montréal. Val-d’Or is a 6-hour drive from Montréal, and there are daily bus services between Montréal and the other cities and towns in the Abitibi region. The town of Amos, with a population of approximately 12,675 residents (Canadian Census, 2021), is located approximately 38 km northwest of the NAL site. Amos is served by highways 109, 111, and 395 and the Amos/Magny airport.

The site is accessible by provincial Highway 111, connecting Val-d’Or and Amos, or alternatively by provincial Highway 397, connecting Val-d’Or and Barraute. An all-weather secondary road, known as Route du Lithium, connecting the site to the Val-d’Or – Amos highway, which was used to traverse the Property and which constrained pit operations, has now been relocated to avoid the mining area. The site is also accessible from Mont-Vidéo, through an all-weather road that connects further east to the Val-d’Or – Barraute highway. Canadian National (CN) railway line is about 49 km east of the Property, connecting east through to Montréal and west to the North American rail network. A high-voltage power line (120 kV) passes approximately 2 km to the west of the Property and a 25 kV electric line, running along the Route du Lithium, services the Mont-Vidéo ski and recreation area

The Val-d’Or area experiences a subarctic continental sub-humid climate, characterized by short, cool summers and long, cold winters. The climatic conditions at the Property do not significantly impede the Project or hinder exploration or mining activities, beyond seasonal consideration for certain works (e.g., drilling muskeg swamps during winter freeze).

There is a significant history of exploration and mining activities on the Property including underground mining operations dating back to the 1950s. Sayona Québec acquired the NAL project in August 2021. A Prefeasibility Study (PFS) was completed in May 2022 for the restart of mining and concentrator operations. Significant process plant upgrades were implemented to ensure production of high-quality chemical-grade spodumene concentrate at nameplate capacity. Operation of the concentrator commenced in March 2023, with first spodumene concentrate sold in August 2023. The mine is a currently operating spodumene producer.

Results of past mineral exploration, resource evaluation and mining demonstrate that NAL is an extensively mineralised lithium system. The primary metal is lithium, and it is mainly associated with spodumene, a lithium bearing pyroxene.

North American Lithium’s pegmatite dykes occupy an area spanning 3,550 m along strike, 1,300 m in width and 800 m in depth. A total of 117 spodumene-bearing pegmatite dykes each with thicknesses greater than 2 m and up to 70 m are open at depth and have been identified in the NAL geological model shown in Figure 1-2.

Individual spodumene-bearing pegmatite dykes are relatively continuous where exposed over long distances and across several benches in NAL pit. Spodumene-bearing pegmatite dykes vary in width from tens of centimetres, up to 70 m and are interpreted to extend for several hundred meters in length. Most pegmatite dykes greater than 3 m in width are spodumene-bearing.

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

Figure 1-2: Multiple Exposure of Pegmatite Dykes in the Pit (Face Looking West)

The Project database used in the Mineral Resource estimate includes drillhole and sample information collected from the 2009, 2010, 2011, 2016, 2019, 2023 and 2024 as well as sample information collected from historical drill core during 2022.

The Project database comprises 923 surface-collared and 652 underground-collared diamond drillholes with a cumulative length of 221,404 m. A subset of 562 drillholes totalling 153,047 m were used to create the Mineral Resource estimate.

Quality assurance and quality control (“QA/QC”) procedures that conform to current industry standards were developed and implemented for all the drilling and sampling programs.

The project database contains data from 1,575 diamond drillholes surfaces and underground collared, spanning a total of 27,183 records of Li₂O assays with a mean sample length of approximately 0.884 m. Li₂O grade varies from 0.000% to 5.318%. Global average Li₂O grade for raw samples (excluding 0.00% assays) is 0.783%. From this database, a subset of 562 surface collared drillholes totalling 153,047m was used for the Mineral Resource estimate.

The current Mineral Resource Estimate is presented in Table 1-1 below. The Mineral Resource estimate was prepared by Qualified Persons in accordance with the NI 43-101 Code.

Table 1-1: North American Lithium – Mineral Resource Estimates (0.60% Li₂O cut-off grade for the RPEEE pit and 0.70% Li₂O cut-off grade for the underground domain)

The information on Mineral Resources and Ore Reserves is extracted from the announcement entitled “2026 Annual Report” published on the ASX on August 28th, 2026, and is available to view on the Elevra’s website on the ASX Increases” published on the ASX on August 27th, 2025, and is available to view on Elevra’s website on the ASX.

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Qualified Person’s findings are presented have not been materially modified from the original market announcement.

The NAL Mineral Reserve estimate has been prepared using accepted industry practice and in accordance with NI 43-101 reporting standards, by Mr Tony O’Connell who is an employee of Optimal Mining Solutions Pty Ltd, an independent mining consultancy based in Brisbane, Australia.

The North American Lithium Mineral Reserves have been estimated for a total of 47.2Mt of Proven and Probable Mineral Reserves at an average grade of 1.12% Li₂O, which is comprised of 0.2Mt of Proven Mineral Reserves at an average grade of 0.93% Li₂O and 47.0Mt of Probable Mineral Reserves at an average grade of 1.12% Li₂O, as shown in Table 1-2 below.

Table 1-2: North American Lithium – Mineral Reserves Estimate, as at of June 30, 2026

The NAL final pit design, as shown in Figure 1-3, was based on a pit optimisation assessment which determined the economic limits of the deposit.

Figure 1-3: NAL Final Pit Design

NAL Expansion FS Mineral Reserve Pre-Feasibility Study NI 43-101 Final Report Prepared for Elevra

The final pit was designed with one main haul road servicing the entire pit for the life of the mine. The decision to utilise one main haul road was chosen based on reducing the strip ratio, pit shell disturbance area and operating cost for the operation. The main haul road has been designed on the hanging wall side of the deposit to maximize ore recovery within the pit shell and to provide access for the final mining pushback. A secondary haul road has been designed along the south-west limit of the pit to access phase 8, one of the last phases to be mined.

Figure 1-4 shows a cross section through the final pit design and the geological model, with the modelled Li₂O-containing pegmatites clearly visible.

Figure 1-4: Cross Section Through Final Pit Design and Geological Model

A series of six mining phases, numbered 3 through 8 inclusive, were developed including the ultimate pit design. Special attention was given to the historical underground openings when setting the physical limits for every phase. Consideration was taken to ensure that the phase walls did not intersect the old workings. The following criteria was applied during the phase design construction: