Nemaska Announces Final Drill Results From Winter Drilling Program at Whabouchi Lithium Project

QUEBEC CITY, QUEBEC--(Marketwire - June 1, 2011) - Nemaska Exploration Inc. ("Nemaska" or the "Corporation") (TSX VENTURE:NMX)(OTCBB:NMKEF)(FRANKFURT:NOT) is pleased to report the results of the last 15 holes from its diamond drill program recently completed on its 100% owned Whabouchi lithium project. In total 8,913 metres have been drilled in 48 holes. The results of these last 15 holes continue to illustrate the high-grade of the main mineralized zone and confirm the presence of smaller dykes to the South of the Main zone. Highlights include: 42.7 m at 1.83% Li₂O and, 42.2 m at 1.61% Li₂O, 39.6 m at 1.56% Li₂O and 23.8 m at 1.83% Li₂O. The results of the previous holes have been released on March 24, and April 11, 20 and 27, 2011. Following this last diamond drill program, the results of a new resources estimate are expected later this month.

The intersections equal of greater than 5 m from these 15 holes are as follows:

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 drill holes were done at an average azimuth of 330 degrees and a dip of 50 degrees. The pegmatite bands have generally an azimuth of 060 degrees and a South-East dip of 70 degrees to 80 degrees.

All samples have been shipped to the Table Jamésienne de Concertation Minière ("TJCM") in Chibougamau, Quebec, for preparation process: inventory, drying, weigh, crushing, split and pulverization. The pulverized portions were then sent by secured courier to either the laboratory of SGS Mineral Services in Don Mills, Ontario ("SGS"), or to the ALS Chemex facilities in North Vancouver, British-Colombia ("ALS"), for lithium, beryllium and rubidium analysis by Inductively Coupled Plasma methods. 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 ("QA/QC") employed by SGS and ALS, Nemaska Exploration develops a rigorous QA/QC protocol for its operators, including the insertion of analytical standard samples, duplicates and coarse silica blanks on a systematic basis. To determine the QC warning, ±2x Std. Dev., and QC failure ±3x Std. Dev. were used. QC results did not highlight any significant analytical bias.

The technical sections of this press release have been prepared by Yvan Bussières, P. Eng and reviewed by Yves Caron, M.Sc., P. Geo., qualified persons as defined in National instrument 43-101.

About Nemaska

Nemaska Exploration inc. is an exploration and development company involved in the James Bay region of Quebec. Nemaska intends to concentrate on the development of its Whabouchi lithium deposit, for which a preliminary economic assessment has been filed on January 19, 2011 and to conduct exploration work on its 100% owned Sirmac lithium project. Whabouchi deposit is 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) and is located near the Cree community of Nemaska and the Némiscau airport. Nemaska, following the initial public offering of its subsidiary Monarques Resources Inc., will remain an important shareholder of that company. Monarques will hold 100 % of the Lac Levac (about 8,653 hectares), Lac Arques (about 31,620 hectares), and Lac des Montagnes (about 14,932 hectares) properties. These properties are contiguous and cover over 85 km of the Lac des Montagnes green belt polymetallic formation.

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. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward‐looking statement.