Nemaska Lithium Inc.
TSX VENTURE : NMX
OTCQX : NMKEF

Nemaska Lithium Inc.

October 01, 2013 11:24 ET

CORRECTION FROM SOURCE: Nemaska Lithium Extends Mineralization to the East of its Whabouchi Deposit

QUEBEC CITY, QUEBEC--(Marketwired - Oct. 1, 2013) -

This document corrects and replaces the press release that was sent today at 9:17 am EDT. Please note that the numbers were changed in the True width* column in the table below. The corrected and complete version follows.

Nemaska Lithium Inc. ("Nemaska" or the "Corporation") (TSX VENTURE:NMX)(OTCQX:NMKEF) is pleased to provide an update on its recent drilling activities at its 100% owned Whabouchi lithium project. The Company recently completed the drilling program announced on September 4, 2013. A total of 24 drill holes, for 3,123 m, were drilled for exploration, definition and condemnation purposes. 14 diamond drill holes, for 1,815 m were drilled on the eastern portion of the Whabouchi deposit, between sections 10+50E and 14+50E. 10 holes were also completed on the proposed sites for the mining infrastructure, including the waste rock and tailings pile.

Nemaska has intersected spodumene bearing pegmatite dykes containing between 5% and 30% spodumene in 12 of the 14 exploration drill holes. Drilling has extended the strike length of several dykes including the main dyke of the deposit by 200 m to the East. Since, no spodumene bearing pegmatites were intersected in the section to the East of section 14+00E (14+50E and 15+00E), the deposit is now also considered closed to the East. Drilling was done to a maximum vertical depth of 170 m with mineralization continuing at depth and remaining open below the bottom of the current optimized pit shell described in the Preliminary Economic Assessment report dated October 2nd, 2012 and updated February 27, 2013 (PEA).

The main intersections (greater than 9 m core length) are reported as follows:

Section Hole From
(m)
To
(m)
Core length
(m)
True width*
(m)
Description
10+50 E WHA-13-132 195.6 208.7 13.1 11.34 Main Dyke
11+00 E WHA-13-144 161 171.2 10.2 9.39 South Dyke
11+50 E WHA-13-131 10.5 38.1 27.6 25.01 South Dyke
11+50 E WHA-13-131 120.6 136.2 15.6 14.14 Main Dyke
12+00 E WHA-13-133 130 152.8 22.8 20.66 Main Dyke
12+50 E WHA-13-134 40.1 53.2 13.1 11.87 Main Dyke
12+50 E WHA-13-134 82.7 104.2 21.5 19.49 Main Dyke
12+50 E WHA-13-141 41.1 63.4 22.3 20.96 Arm 1 of Main Dyke
13+00 E WHA-13-135 3.8 24.3 20.5 19.14 Arm 1 of Main Dyke
13+00 E WHA-13-135 79 95 16.0 14.94 Main Dyke
13+00 WHA-13-143 4.6 19.6 15.0 14.10 Main Dyke
13+50 WHA-13-136 94.7 109.5 14.8 13.82 Main Dyke
13+50 WHA-13-140 47.7 57.8 10.1 9.49 North Dyke
13+50 WHA-13-142 4.6 23.4 18.8 17.67 North Dyke
14+00 WHA-13-137 10.5 21.4 10.9 9.88 Arm 2 of Main Dyke
14+00 WHA-13-137 46.1 55.9 9.8 8.88 Main Dyke
*Considering mineralized dykes with a dip of 65 degrees and using the following formula:
TrueThick = sin(Drillhole Dip + Dyke Dip) x CoreLength

The sections 10+50E to 14+00E showing the past drill results as well as all the intersections of this drilling campaign can be viewed at http://media3.marketwire.com/docs/NMX_longitudinal.pdf. The recent drill holes (2013) can also be compared to the optimized in pit shells described in the PEA on a longitudinal section.

The Company has reported the intersection lengths as well as the best estimates of the true widths given the current understanding of the geology. The holes were drilled at an average azimuth of N330 degrees and a dip of -45 to -50 degrees. The pegmatite dykes generally have a strike length following an azimuth of N060 degrees to N080 degrees to the East and the South-East of the deposit. The dips of the pegmatite dyke range from 60 degrees to 80 degrees.

Drill core samples are being prepared onsite (logged, sampled and split) and should be sent within the next 2 weeks to the Table Jamésienne de Concertation Minière ("TJCM") in Chibougamau, Quebec, for preparation processes including: inventory, drying, weigh, crushing, split and pulverization. The pulverized portions will then be sent by secured courier to the ALS Global facilities in Val D'Or ("ALS"), for lithium analysis by Li-OG63 method. These laboratories are recognized by the industry and accredited ISO/MEC 17025 by the Standards Council of Canada. In addition to the quality assurance and quality control programs ("QA/QC") employed by TJCM and ALS, Nemaska Lithium implements a rigorous QA/QC protocol for its operators, including the insertion of analytical standard samples, duplicates and coarse silica blanks on a systematic basis.

As they are received, the results will be published. The results of this drilling campaign will enable Nemaska to update its existing in-pit resources. The data and assay results from this drilling campaign will be included in the updated resources estimate and pit design as parts of the feasibility study due for Q1 of 2014.

The technical sections of this press release have been prepared by Jean-Philippe Paiement, M.Sc., P. Geo from SGS Canada Inc. - Geostat office, qualified person as defined in National instrument 43-101.

About Nemaska

Nemaska intends to become a lithium hydroxide/carbonate producer based in Quebec and has filed patent applications for its proprietary methods to produce lithium hydroxide and lithium carbonate. In tandem, the Company is developing one of the richest spodumene lithium hard rock deposit in the world, both in volume and grade. Spodumene concentrate produced at Nemaska's Whabouchi mine and from other global sources will be shipped to the Company's lithium hydroxide/carbonate processing plant to be built in Salaberry-de-Valleyfield, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and lithium carbonate mainly for the growing lithium battery market. The Nemaska's Whabouchi deposit, located in the James Bay Region in the Province of Quebec, Canada, near the Cree community of Nemaska, should have an initial mine life of 18 years.

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Nemaska to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

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.

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