Nemaska Exploration Inc.
TSX VENTURE : NMX

Nemaska Exploration Inc.

March 31, 2010 08:09 ET

Nemaska Reports 52.3 m at 1.85% Li2O, 165 ppm Beryllium (Be) and 1579 ppm Rubidium (Rb) From Its Drilling Underway on Its Lithium/Beryllium Project (Whabouchi)

QUEBEC CITY, QUEBEC--(Marketwire - March 31, 2010) - Nemaska Exploration Inc. («Nemaska» or «the Corporation») (TSX VENTURE:NMX) is pleased to announce that the most recent results from its current drill program on its lithium/beryllium (Whabouchi project, 100 % owned) continues to prove the high-grade, impressive width and continuity of the mineralized zone. Nemaska has received an additional 1,057 results from 15 holes. The latest results include 52.3 m at 1.85% Li2O, 165 ppm Be and 1579 ppm Rb and 22.8 m at 1.91 % Li2O, 130 ppm Be and 1503 ppm Rb.

«I am very pleased with the grade and width of our drill results to date which favourably compare to any other spodumene bearing pegmatite project currently in development around the world», commented Mr. Guy Bourassa, President and CEO. «The current drilling should be completed by mid-April, allowing us to finalize the resource calculation presently underway. I am also pleased to see that the Be and Rb grades remain constant throughout the entire zone and I believe this will significantly impact the value of the project».

Since October 2009, the Corporation has completed over 11,115 m of drilling in 56 holes covering 1,300 m along strike on 25 sections and to a depth of 230 m. More than 5,400 samples have been sent for analysis and results of 3,900 have been received. To date the best intersections reported by Nemaska are: 100.9 m at 1.45% Li2O (confirming Canico historical hole at 83.5 m at 1.45% Li2O), 87.5 m at 1.39% Li2O, 65.34 m at 1.75% Li2O and 57.56 m at 1.52% Li2O. An updated map and a picture showing the location of the drill sections can be accessed at http://media3.marketwire.com/docs/Plan_surface_photo_montage.pdf.

These drill results confirm that the main zone runs from section 1+50 E to the section 13+50 E with an average grade ranging between 1.50% to 2 % Li2O. The main zone has a width of 10 to 20 m from section 1+50 E to 3+00 E and becomes wider and reaches 80 m on section 4+75 E and back to 10 m to 20 m at section 13+50 E. Four (4) other spodumene bearing pegmatite zones with variable widths, reaching up to 27 m, have been identified south of the main zone. All zones remain open at depth and to the East.

The intersections equal or greater than 5 m in these 15 additional holes are reported in the table below:

Section Hole From (m) To (m) Core length (m) True Widths (m) Li2O % Be ppm Rb ppm
9+00 E WHA-10-08 39 46 7.0 5.8 1.78 121 436
9+00 E   53.9 70 16.1 13.4 1.67 130 451
9+00 E   160.6 174.3 13.7 11.7 1.48 158 1196
4+50 E WHA-10-16 16.4 41.3 24.9 21.5 1.63 183 1218
3+50 E WHA-10-17 1 13.5 12.5 12.2 ** 1.65 62 854
1+50 E WHA-10-20 93.7 99.8 6.1 5.5 2.20 118 1052
1+50 E WHA-10-21 78.1 92 13.9 11.5 1.31 132 1758
1+50 E   191.8 209.8 18.0 15.0 1.71 155 1297
3+50 E WHA-10-22 32.9 47 14.1 11.3 1.82 126 2365
3+50 E   74.5 86.7 12.2 9.8 1.59 149 1760
3+50 E   125.9 131.7 5.8 4.6 1.98 136 1214
3+50 E   177.4 229.7 52.3 46.2 1.85 165 1579
2+50 E WHA-10-25 4.5 19.5 15.0 11.5 1.76 149 2035
7+00 E WHA-10-27 213.7 222.8 9.1 7.1 1.49 178 1156
7+00 E   232.8 239.7 6.9 6.0 1.69 139 1303
9+00 E WHA-10-30 251.9 261.7 9.8 7.8 1.83 151 1277
10+00 E WHA-10-32 70.3 78.8 8.5 8.2 1.41 200 732
10+00 E   104.3 116.3 12.0 11.5 1.52 175 1350
10+00 E   172.2 186 13.8 13.2 1.63 112 1093
10+00 E   200.8 207.8 7.0 6.7 1.93 143 1557
12+00 E WHA-10-35 79.3 97.5 18.2 15.4 1.62 162 1615
11+00 E WHA-10-36 161.9 176.1 14.2 14.0 1.83 178 1170
8+00 E WHA-10-38 185 193 8.0 7.2 1.44 130 1048
8+00 E   214.6 230.7 16.1 14.2 2.20 163 1039
8+00 E WHA-10-40 142.4 153 10.6 10.2 1.88 150 891
8+00 E   157.1 163.8 6.7 6.3 1.32 164 1239
11+00 E WHA-10-44 93.4 116.2 22.8 22.5 1.91 130 1503

The intersections in bold are from the main zone
**Hole started in the mineralized zone.

The Company has reported the intersections 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.

The samples have been shipped for preparation (crushing and pulverization) to the Table Jamésienne de Concertation Minière (TJCM) lab in Chibougamau. The prepared samples are then sent by courier to the Toronto laboratory of SGS Mineral Services, Ontario, for lithium, beryllium and rubidium analysis by sodium peroxide fusion method. This laboratory is recognized by industry and accredited ISO/MEC 17025: 2005 by the Canadian Council of standards. Nemaska Exploration implements a rigorous quality control protocol to its operations, including the insertion of analytical control samples, duplicates and blanks and follow-up on the results of these assays.

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

About Nemaska Exploration

Nemaska Exploration Inc. is a mineral exploration company involved in the James Bay region of Quebec. Its main assets are the Lac Arques (about 32,000 hectares), Whabouchi (about 1,600 hectares) Lac Levac and Lac des Montagnes properties (about 32,000 hectares) all 100 % owned. These properties are contiguous and cover about 70 km of the Lac des Montagnes green belt polymetallic formation. They are 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 are located near the Cree community of Nemaska and the Némiscau airport.

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, as disclosed under the heading "Risk Factors" in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

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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