Nemaska Lithium Reports Drill Results to Date on Whabouchi Lithium Project

QUEBEC CITY, QUEBEC–(Marketwired – Oct 13, 2016) – Nemaska Lithium Inc. (TSX:NMX,OTCQX: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.

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