Nemaska Lithium Inc.
TSX VENTURE : NMX
OTCQX : NMKEF

Nemaska Lithium Inc.

November 13, 2013 10:49 ET

Nemaska Lithium Intersects 2.19% Li2O over 10.04 m and Extends the Main Zone by 200 meters at Whabouchi

QUEBEC CITY, QUEBEC--(Marketwired - Nov. 13, 2013) - Nemaska Lithium Inc. ("Nemaska" or the "Corporation") (TSX VENTURE:NMX)(OTCQX:NMKEF) is pleased to report drill results from its recent diamond drilling activities at its 100% owned Whabouchi lithium project. A total of 24 drill holes, for 3,123 meters, were drilled for exploration, definition and condemnation purposes. 14 diamond drill holes, for 1,815 meters, were drilled on the eastern portion of the Whabouchi deposit, between sections 10+50E and 14+50E with the objectives of increasing the level of confidence of the resources and increasing the overall tonnage.

Drilling has extended multiple dykes including the main dyke of the deposit by 200 meters to the East. The deposit is now closed to the East and West. Drilling was conducted to a maximum vertical depth of 170 meters with mineralization remaining open below the bottom of the current optimized pit shell, described in the Preliminary Economic Assessment (PEA) report dated October 2nd, 2012 and updated February 27, 2013.

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 Li2O
(%)
10+50 E WHA-13-132 195.6 208.7 13.1 10.04 Main Dyke 2.19
11+00 E WHA-13-144 161 171.2 10.2 8.55 South Dyke 0.60
11+50 E WHA-13-131 10.5 38.1 27.6 22.61 South Dyke 1.83
11+50 E WHA-13-131 120.6 136.2 15.6 12.78 Main Dyke 1.50
12+00 E WHA-13-133 130 152.8 22.8 18.68 Main Dyke 1.56
12+50 E WHA-13-134 40.1 53.2 13.1 10.73 Main Dyke 1.68
12+50 E WHA-13-134 82.7 104.2 21.5 17.61 Main Dyke 1.69
12+50 E WHA-13-141 41.1 63.4 22.3 19.31 Arm 1 of Main Dyke 1.96
13+00 E WHA-13-135 3.8 24.3 20.5 17.57 Arm 1 of Main Dyke 1.24
13+00 E WHA-13-135 79 95 16.0 13.71 Main Dyke 1.56
13+00 WHA-13-143 4.6 19.6 15.0 12.99 Main Dyke 1.70
13+50 WHA-13-136 94.7 109.5 14.8 12.69 Main Dyke 1.48
13+50 WHA-13-140 47.7 57.8 10.1 8.75 North Dyke 1.68
13+50 WHA-13-142 4.6 23.4 18.8 16.28 North Dyke 1.50
14+00 WHA-13-137 10.5 21.4 10.9 8.93 Arm 2 of Main Dyke 1.13
14+00 WHA-13-137 46.1 55.9 9.8 8.03 Main Dyke 1.33
*Considering mineralized dykes with a dip of 75 degrees and using the following formula: TrueThick = sin(Drillhole Dip + Dyke Dip) x CoreLength

"As expected, high-grade mineralization continues to the east of the deposit in the main zone as well as the north and south dykes," commented Guy Bourassa, President and CEO of Nemaska Lithium. "We are fortunate to have such a homogeneous high-grade deposit, which will enhance our mine economics relative to other deposits in the world. We took a conservative approach and only reported intersections over 9 meters though hole WHA-13-136 intersected 3.03% Li2O over 5.55 m. We will be incorporating these noteworthy results in an updated NI 43-101 resource estimate to be included in the feasibility study due in Q1-2014. Nemaska has the richest NI 43-101 compliant lithium resource outside a major producer in the world."

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 results (2013) can also be compared to the optimized in-pit resources 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 a South-East of the deposit. The dips of the pegmatite dyke range from 70 degrees to 80 degrees.

Drill core samples were processed at the Table Jamésienne de Concertation Minière ("TJCM") in Chibougamau, Quebec. Preparation process included: inventory, drying, weigh, crushing, split and pulverization. The pulverized portions were then 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 ("QA/QC") employed by TJCM and ALS. Nemaska Lithium applies a rigorous QA/QC protocol for its operators, including the insertion of analytical standard samples, duplicates and coarse silica blanks on a systematic basis. A total of 20 blanks, 21 duplicates and 16 high grade standards were analyzed for this drilling campaign. Verification of the QA/QC data received with the analysis certificates does not raise significant issues with the data provided by ALS and used for the present press release.

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 Corporation 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 Corporation'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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