Nemaska Lithium Confirms Closing of a $13,000,000 Private Placement

QUEBEC CITY, QUEBEC--(Marketwired - March 24, 2016) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Nemaska Lithium Inc. ("Nemaska" or the "Corporation") (TSX VENTURE:NMX)(OTCQX:NMKEF) announced today that it has closed a non-brokered private placement of $13,000,000 by the issuance of 38,235,295 units (a "Unit") at a price of $0.34 per Unit in favor of Ressources Québec inc. (29,411,765 Units for $10,000,000) acting as mandatory for the government of Québec and Nemaska Development Corporation (8,823,530 Units for $3,000,000). This private placement was previously announced on March 11, 2016.

The Corporation intends to use the net proceeds of the private placement for the construction and operation costs of the Phase 1 Plant that will produce lithium hydroxide and for general expenses.

Each Unit consists of one common share of the Corporation (a "Common Share") and one-half of one Common Share purchase warrant. Each whole Common Share purchase warrant entitles its holder to purchase one Common Share of the Corporation at a price of $0.48 at any time prior to 5:00 p.m. (Montreal time) on the date that is 24 months following the closing date.

The private placement with Ressources Québec Inc. was closed under escrow until the conclusion of the formal agreements to be concluded with Johnson Matthey Battery Materials Ltd in connection with the financing of an upfront payment of $12 million in exchange for services and products of the same value from the Phase 1 Plant and the subsequent commercial plant.

The securities have not been registered under the United States Securities Act of 1933 (the "Act") or any state securities laws and may not be offered or sold absent registration under the Act and applicable state securities laws or an applicable exemption from the registration requirements thereof. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption there from.

About Nemaska

Nemaska intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market. The Corporation is developing in Québec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska 's Whabouchi mine will be shipped to the Corporation's lithium compounds processing plant to be built in Shawinigan, Québec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which patent applications have been filed.

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

www.nemaskalithium.com