Nemaska Exploration Inc.

Nemaska Exploration Inc.

February 26, 2010 08:00 ET

Nemaska Exploration: Results of the Reanalysis Program Confirm Hitsorical Data on Whabouchi-100.9 Metres at 1.45% Li2O

QUEBEC CITY, QUEBEC--(Marketwire - Feb. 26, 2010) - (TSX VENTURE:NMX) – NEMASKA EXPLORATION INC. ("Nemaska" or the "Corporation") announces that it has received from SGS Canada Lab in Toronto, Ontario ("SGS") the reanalysis results of all of the samples coming from seven diamond drill holes done in October 2009 on its lithium (Li) and beryllium (Be) Whabouchi property (100% owned). Samples were reanalyzed following the discovery by SGS of a non-conformance in the method calibration procedure used by SGS. The initial drill results were reported in press releases issued by Nemaska on November 5, December 21, December 22, 2009 and January 19, 2010.

The objective of the October 2009 drilling campaign was to confirm historical drill hole 24042 that intersected 83.2 m of spodumene bearing pegmatite grading 1.44% Li2O. The reanalysis of drill hole WHA-09-03, drilled 30 metres west of drill hole 24042, returned 100.9 m (est. true width 80.61 m) grading 1.45% Li20 confirming the historical results.

"We started drilling in October to confirm both the grade and width of the historical drill results," commented Guy Bourassa President and CEO of Nemaska Exploration. "Both the initial analysis and subsequent reanalysis confirms our theory that this property host high-grade lithium mineralization over significant widths."

The results of the reanalysis of the significant intercepts from the October drill program are outlined in the table below.

Hole Number From
Est. True
Width (m)
Previous Analysis
Li2O %
2O %
Be g/t
WHA-09-01A 48.37 54.5 6.13 5.76 1.71 1.51 128
WHA-09-02 19.5 22.38 2.88 2.72 1.57 1.46 174
WHA-09-03 3.93 6.77 2.84 2.21 1.59 1.33 163
WHA-09-03 17.32 118.24 100.92 80.61 1.64 1.45 147
WHA-09-04 14.24 48.2 33.96 30.00 1.93 1.68 167
WHA-09-04 59.14 76.06 16.92 16.00 1.63 1.44 137
WHA-09-05 40.92 53.05 12.13 9.55 1.13 1.02 131
WHA-09-05 103.76 169.1 65.34 53.34 1.91 1.75 180
WHA-09-06 19.67 22.96 3.29 2.90 1.74 1.54 261
WHA-09-06 33.77 47.52 13.75 10.53 1.59 1.52 134
WHA-09-06 60.6 81.36 20.76 17.91 1.75 1.64 153
WHA-09-07 91.48 95.9 4.40 3.12 1.94 1.77 153
WHA-09-07 105.94 163.5 57.56 46.82 1.63 1.52 123

The results of the reanalysis for lithium are on average 9.6% lower than previously released results. It is important to note that the intercepts also contain significant beryllium values.

An 8,000 m drilling program is in progress testing the spodumene pegmatite on sections every 100 m over a total strike length of 1.4 km.

The technical sections of this press release have been prepared by Yvan Bussieres, P. Eng. and reviewed by Claude Britt, P.GEO. qualified persons as defined in National instrument 43-101.

About Nemaska Exploration

Nemaska Exploration Inc. is a mineral exploration company involved in the James Bay region in Quebec. Its main assets are the Lac Arques (about 32,000 hectares), Whabouchi (about 1,600 hectares) Lac Levac and Lac des Montagnes properties (about 32,000 hectares) all 100 % owned. These properties are contiguous and cover about 70 km of the Lac des Montagnes green belt polymetallic formation and are easily accessible year round by either the Route du Nord from Chibougamau (280 km) or the Route de la Baie James from Matagami (380 km). They are located near the Cree community of Nemaska and the Némiscau airport.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

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