Nemaska Lithium Inc.
TSX : NMX
OTCQX : NMKEF

Nemaska Lithium Inc.

October 13, 2016 09:29 ET

Nemaska Lithium Reports Drill Results to Date on Whabouchi Lithium Project

QUEBEC CITY, QUEBEC--(Marketwired - Oct. 13, 2016) - Nemaska Lithium Inc. ("Nemaska Lithium" or the "Corporation") (TSX:NMX)(OTC:NMKEF) is pleased to provide an update on the assay results received to date from the previously announced definition drilling campaign for its Whabouchi lithium project. The 50 drill holes (17,400m) program was concluded on September 16, 2016. A total of 3,908 drill holes samples (3,897m) were taken from the different Spodumene bearing pegmatites intervals encountered during the drilling campaign.

So far, the assay results received cover 70% (19 holes on a total of 27 holes) of the 2016 drilling conducted between sections 05+00E and 14+50E (see Figure plan map).

The drilling assays currently available enable Nemaska Lithium to confirm the successful completion of the objectives stated at the beginning of the program:

  1. The potential conversion of 4.69 Mt of inferred resources, inside pit design is well underway. 70% of the drill holes assays were received East of section 05+00E and all the results confirm the continuity of the mineralization inside the limits of the optimized resources pit shell (see section 07+50E and 09+75E);

  2. The current results also indicate the potential to increase the level of confidence of mineral resources between 0 m and 200 m vertical from the surface, East of section 05+50E. All the assays currently received demonstrate the continuity of the mineralized dykes down to 200m and in some cases even down to 300m below the surface (see section 12+00E and 13+00E);

  3. At the moment, no assay results for the deep extension holes have been received. The lithological observations confirm the continuity of the longitudinal zone of mineral resources down to 500 m vertical depth on all the sections West of section 12+50E.

  4. No assay results have been received yet for the new Doris zone, which has been discovered to the southeast of the main zone.

"This drill program is accretive to our existing mineral resources. Objectives 1 and 2 of the drilling program above were designed to increase our resources/reserves in the future open pit mine. Drill results reported to date have accomplished this. By upgrading the inferred resource we will now be able to include material previously calculated as waste rock as mineralized material. Likewise the expansion of the mineralized zone down to 300 m will allow us to add additional material to our resource. I am keen to see the results from the Doris zone as this has the potential to increase the size of the pit shell. Ultimately this drill program has been a complete success and I believe our goals of lowering our already low cost of concentrate while increasing the mine life and mine production rate are achievable," commented Guy Bourassa, President and CEO of Nemaska Lithium.

Table with assay results from illustrated sections:

Section Hole
Name
From
(m)
To
(m)
Core length
(m)
Li2O
(%)
Interval Average
Li2O (%)
Interval
Core
Length
(m)
Estimated
True Width
(m)
09+75E WHA-16-156 204.8 205.9 1.1 1.38 1.05 3.7 2.6
09+75E WHA-16-156 205.9 206.9 1.0 1.16
09+75E WHA-16-156 206.9 207.9 1.0 0.65
09+75E WHA-16-156 207.9 208.5 0.6 0.93
09+75E WHA-16-156 221.7 222.7 1.0 1.08 1.14 8.0 5.7
09+75E WHA-16-156 222.7 223.7 1.0 0.56
09+75E WHA-16-156 223.7 224.7 1.0 0.34
09+75E WHA-16-156 224.7 225.7 1.0 0.56
09+75E WHA-16-156 225.7 226.7 1.0 2.56
09+75E WHA-16-156 226.7 227.7 1.0 1.51
09+75E WHA-16-156 227.7 228.7 1.0 0.88
09+75E WHA-16-156 228.7 229.7 1.0 1.61
09+75E WHA-16-156 241.6 242.6 1.0 1.25 1.64 11.9 13.9
09+75E WHA-16-156 242.6 243.6 1.0 1.10
09+75E WHA-16-156 243.6 244.6 1.0 1.68
09+75E WHA-16-156 244.6 245.6 1.0 2.41
09+75E WHA-16-156 245.6 246.6 1.0 1.31
09+75E WHA-16-156 246.6 247.6 1.0 1.27
09+75E WHA-16-156 247.6 248.6 1.0 1.72
09+75E WHA-16-156 248.6 249.6 1.0 1.68
09+75E WHA-16-156 249.6 250.6 1.0 2.07
09+75E WHA-16-156 250.6 251.6 1.0 2.13
09+75E WHA-16-156 251.6 252.6 1.0 1.51
09+75E WHA-16-156 252.6 253.4 0.9 1.51
12+00E WHA-16-160 239.5 240.5 1.0 1.92 1.44 4.6 3.3
12+00E WHA-16-160 240.5 241.5 1.0 1.16
12+00E WHA-16-160 241.5 242.5 1.0 1.14
12+00E WHA-16-160 242.5 243.3 0.8 1.36
12+00E WHA-16-160 243.3 244.1 0.8 1.66
12+00E WHA-16-160 247.9 249.0 1.1 1.10 1.09 6.0 4.3
12+00E WHA-16-160 249.0 250.0 1.0 0.97
12+00E WHA-16-160 250.0 251.0 1.0 0.99
12+00E WHA-16-160 251.0 252.0 1.0 1.21
12+00E WHA-16-160 252.0 253.0 1.0 1.10
12+00E WHA-16-160 253.0 253.9 0.9 1.16
12+00E WHA-16-161 57.5 58.5 1.0 1.74 1.96 7.5 5.3
12+00E WHA-16-161 58.5 59.5 1.0 3.40
12+00E WHA-16-161 59.5 60.5 1.0 1.98
12+00E WHA-16-161 60.5 61.5 1.0 0.82
12+00E WHA-16-161 61.5 62.5 1.0 0.86
12+00E WHA-16-161 62.5 63.5 1.0 2.45
12+00E WHA-16-161 63.5 64.0 0.5 2.97
12+00E WHA-16-161 64.0 65.0 1.0 1.92
12+00E WHA-16-161 86.5 87.5 1.0 1.57 2.05 18.4 13.0
12+00E WHA-16-161 87.5 88.5 1.0 1.38
12+00E WHA-16-161 88.5 89.5 1.0 1.57
12+00E WHA-16-161 89.5 90.5 1.0 1.40
12+00E WHA-16-161 90.5 91.5 1.0 1.57
12+00E WHA-16-161 91.5 92.5 1.0 1.03
12+00E WHA-16-161 92.5 93.5 1.0 0.73
12+00E WHA-16-161 93.5 94.5 1.0 1.64
12+00E WHA-16-161 94.5 95.5 1.0 2.76
12+00E WHA-16-161 95.5 96.5 1.0 3.75
12+00E WHA-16-161 96.5 97.5 1.0 3.53
12+00E WHA-16-161 97.5 98.5 1.0 2.26
12+00E WHA-16-161 98.5 99.5 1.0 1.79
12+00E WHA-16-161 99.5 100.5 1.0 2.24
12+00E WHA-16-161 100.5 101.5 1.0 2.35
12+00E WHA-16-161 101.5 102.5 1.0 2.76
12+00E WHA-16-161 102.5 103.5 1.0 2.37
12+00E WHA-16-161 103.5 104.3 0.8 2.17
12+00E WHA-16-161 104.3 104.9 0.6 2.17
12+00E WHA-16-161 198.0 199.0 1.0 1.29 1.47 15.2 10.7
12+00E WHA-16-161 199.0 200.0 1.0 1.14
12+00E WHA-16-161 200.0 201.0 1.0 0.54
12+00E WHA-16-161 201.0 202.0 1.0 1.18
12+00E WHA-16-161 202.0 203.0 1.0 2.97
12+00E WHA-16-161 203.0 204.0 1.0 1.55
12+00E WHA-16-161 204.0 205.0 1.0 1.38
12+00E WHA-16-161 205.0 206.0 1.0 1.38
12+00E WHA-16-161 206.0 207.0 1.0 1.59
12+00E WHA-16-161 207.0 208.0 1.0 1.49
12+00E WHA-16-161 208.0 209.0 1.0 2.17
12+00E WHA-16-161 209.0 210.0 1.0 0.95
12+00E WHA-16-161 210.0 211.0 1.0 1.36
12+00E WHA-16-161 211.0 211.8 0.8 1.85
12+00E WHA-16-161 211.8 212.6 0.8 1.38
12+00E WHA-16-161 212.6 213.2 0.6 1.33
12+00E WHA-16-161 248.9 250.0 1.1 1.05 1.04 2.9 2.1
12+00E WHA-16-161 250.0 251.0 1.0 1.03
12+00E WHA-16-161 251.0 251.9 0.8 1.03
09+75E WHA-16-174 238.0 239.0 1.0 0.90 1.56 7.0 4.9
09+75E WHA-16-174 239.0 240.0 1.0 1.25
09+75E WHA-16-174 240.0 241.0 1.0 1.16
09+75E WHA-16-174 241.0 242.0 1.0 1.79
09+75E WHA-16-174 242.0 243.0 1.0 2.22
09+75E WHA-16-174 243.0 244.0 1.0 1.64
09+75E WHA-16-174 244.0 245.0 1.0 1.96
09+75E WHA-16-174 258.8 259.6 0.7 0.56 1.26 9.1 6.4
09+75E WHA-16-174 259.6 260.5 0.9 1.05
09+75E WHA-16-174 260.5 261.5 1.0 1.59
09+75E WHA-16-174 261.5 262.5 1.0 2.00
09+75E WHA-16-174 262.5 263.5 1.0 0.90
09+75E WHA-16-174 263.5 264.5 1.0 1.74
09+75E WHA-16-174 264.5 265.5 1.0 1.64
09+75E WHA-16-174 265.5 266.5 1.0 1.23
09+75E WHA-16-174 266.5 267.1 0.6 0.67
09+75E WHA-16-174 267.1 267.9 0.9 0.65
09+75E WHA-16-174 282.2 283.0 0.8 1.05 1.35 5.8 4.1
09+75E WHA-16-174 283.0 284.0 1.0 1.89
09+75E WHA-16-174 284.0 285.0 1.0 1.03
09+75E WHA-16-174 285.0 286.0 1.0 1.51
09+75E WHA-16-174 286.0 287.0 1.0 1.64
09+75E WHA-16-174 287.0 288.0 1.0 0.93
13+00E WHA-16-178 34.8 35.8 1.0 1.49 2.00 6.6 4.7
13+00E WHA-16-178 35.8 37.0 1.2 2.20
13+00E WHA-16-178 37.0 38.0 1.0 2.48
13+00E WHA-16-178 38.0 39.0 1.0 2.17
13+00E WHA-16-178 39.0 40.0 1.0 2.56
13+00E WHA-16-178 40.0 40.7 0.7 1.83
13+00E WHA-16-178 40.7 41.4 0.7 0.86
13+00E WHA-16-178 126.9 128.0 1.1 0.78 1.92 10.3 7.3
13+00E WHA-16-178 128.0 129.0 1.0 1.59
13+00E WHA-16-178 129.0 130.0 1.0 2.33
13+00E WHA-16-178 130.0 131.0 1.0 3.16
13+00E WHA-16-178 131.0 132.0 1.0 1.87
13+00E WHA-16-178 132.0 133.0 1.0 1.36
13+00E WHA-16-178 133.0 134.0 1.0 2.56
13+00E WHA-16-178 134.0 135.0 1.0 0.84
13+00E WHA-16-178 135.0 135.8 0.8 1.74
13+00E WHA-16-178 135.8 136.5 0.8 3.38
13+00E WHA-16-178 136.5 137.2 0.7 1.94
13+00E WHA-16-178 151.0 152.0 1.0 1.59 1.61 12.2 8.6
13+00E WHA-16-178 152.0 153.0 1.0 2.07
13+00E WHA-16-178 153.0 154.0 1.0 0.73
13+00E WHA-16-178 154.0 155.0 1.0 1.46
13+00E WHA-16-178 155.0 156.0 1.0 1.74
13+00E WHA-16-178 156.0 157.0 1.0 1.44
13+00E WHA-16-178 157.0 158.0 1.0 1.38
13+00E WHA-16-178 158.0 159.0 1.0 1.83
13+00E WHA-16-178 159.0 160.0 1.0 1.98
13+00E WHA-16-178 160.0 161.0 1.0 2.00
13+00E WHA-16-178 161.0 162.0 1.0 1.96
13+00E WHA-16-178 162.0 163.2 1.2 1.23
13+00E WHA-16-178 230.0 231.0 1.0 1.21 1.49 8.1 5.7
13+00E WHA-16-178 231.0 232.0 1.0 2.71
13+00E WHA-16-178 232.0 233.0 1.0 1.25
13+00E WHA-16-178 233.0 234.0 1.0 2.30
13+00E WHA-16-178 234.0 235.0 1.0 1.42
13+00E WHA-16-178 235.0 236.0 1.0 0.97
13+00E WHA-16-178 236.0 237.0 1.0 1.46
13+00E WHA-16-178 237.0 238.1 1.1 0.65
07+50E WHA-16-182 187.4 188.0 0.6 2.56 1.89 4.6 3.2
07+50E WHA-16-182 188.0 189.0 1.0 2.35
07+50E WHA-16-182 189.0 190.0 1.0 2.30
07+50E WHA-16-182 190.0 191.0 1.0 1.61
07+50E WHA-16-182 191.0 192.0 1.0 0.90
07+50E WHA-16-182 211.5 212.0 0.5 1.55 1.62 9.5 6.7
07+50E WHA-16-182 212.0 213.0 1.0 1.96
07+50E WHA-16-182 213.0 214.0 1.0 2.02
07+50E WHA-16-182 214.0 215.0 1.0 2.93
07+50E WHA-16-182 215.0 216.0 1.0 1.66
07+50E WHA-16-182 216.0 217.0 1.0 0.67
07+50E WHA-16-182 217.0 218.0 1.0 1.59
07+50E WHA-16-182 218.0 219.0 1.0 2.48
07+50E WHA-16-182 219.0 220.0 1.0 0.43
07+50E WHA-16-182 220.0 221.0 1.0 0.84
07+50E WHA-16-182 249.9 250.5 0.7 1.96 1.37 10.3 7.3
07+50E WHA-16-182 250.5 251.5 1.0 1.92
07+50E WHA-16-182 251.5 252.5 1.0 1.61
07+50E WHA-16-182 252.5 253.5 1.0 1.74
07+50E WHA-16-182 253.5 254.5 1.0 2.13
07+50E WHA-16-182 254.5 255.5 1.0 0.84
07+50E WHA-16-182 255.5 256.5 1.0 1.08
07+50E WHA-16-182 256.5 257.5 1.0 0.78
07+50E WHA-16-182 257.5 258.5 1.0 1.59
07+50E WHA-16-182 258.5 259.5 1.0 0.60
07+50E WHA-16-182 259.5 260.2 0.7 0.82
07+50E WHA-16-182 265.2 266.0 0.8 1.49 1.62 9.8 6.9
07+50E WHA-16-182 266.0 267.0 1.0 2.00
07+50E WHA-16-182 267.0 268.0 1.0 2.35
07+50E WHA-16-182 268.0 269.0 1.0 2.84
07+50E WHA-16-182 269.0 270.0 1.0 1.92
07+50E WHA-16-182 270.0 271.0 1.0 1.49
07+50E WHA-16-182 271.0 271.7 0.6 1.42
07+50E WHA-16-182 271.7 272.3 0.7 1.03
07+50E WHA-16-182 272.3 273.1 0.8 0.28
07+50E WHA-16-182 273.1 274.0 0.9 1.46
07+50E WHA-16-182 274.0 275.0 1.0 0.90
* True width estimated for drill holes with a dip of 50° and a general dip of 85° to the SW for the mineralized structure

The geological 3D model is currently being updated, while assays are pending. The next phase will be to update the mineral resources estimate and reserves evaluation, including the newly discovered Doris zone. The mineral estimation will be carried out by SGS Canada Inc., with Jean-Philippe Paiement being assign as a QP.

The 2016 drilling campaign was planned and supervised by Jean-Philippe Paiement, M.Sc. P. Geo, at SGS Canada Inc. Samples are prepared by the SGS Canada Inc. laboratory in Quebec City and are analyzed by the SGS Canada Inc. accredited laboratory in Lakefield.

A QAQC program involving blank samples (3% of the sampling stream), standard samples (3% of the sampling stream) and field duplicates (3% of the sampling stream) has been established during sampling. 10% of the mineralized samples will also be sent to ALS for pulp duplicates once the campaign is over. The work is carried out in accordance with CIM's mining exploration guidelines.

The technical parts of this press release were prepared by Jean-Philippe Paiement, M.Sc. P. Geo, at SGS Canada Inc., qualified person under Regulation NI 43-101.

About Nemaska Lithium

Nemaska Lithium intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The Corporation is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium's Whabouchi mine will be shipped to the Corporation's lithium compounds processing plant to be built in Shawinigan, Quebec. 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.

This document may contain forward-looking statements that reflect management's current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management assumes no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.

Further information regarding Nemaska Lithium is available in the SEDAR database (www.sedar.com) and on the Corporation's website at: www.nemaskalithium.com.

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