Aug 4 (Reuters) - Sayona Mining Ltd SYA.AX :
* Acquisition of advanced graphite project
* Says term sheet provides Sayona with an exclusive four month option-to-purchase and due diligence period
* Says signed a term sheet to acquire the itabela large flake graphite project in Brazil
* Intends to fast track itabela towards production by completing a feasibility study
* Signed a four-month, exclusive binding term sheet to acquire the itabela project
* Says US$3.5 million purchase price should Sayona elect to acquire itabela
* Sayona mining-company will investigate a number of different financing options to fund the acquisition price
* Source text for Eikon ID:nASX73mqVn