Phase 1 Lithium Hydroxide and Lithium Carbonate Plant

2013-03-05 09:25:50

Updated 3/1/2013 9:19:42 AM ET         From: NBC NEWS

QUEBEC CITY, QUEBEC — Nemaska Lithium Inc. ("Nemaska" or the "Corporation") (TSX VENTURE:NMX) (OTCQX:NMKEF) wishes to clarify its February 7, 2013 press release announcing the decision to build a Phase 1 Lithium Hydroxide and lithium carbonate Plant. The Phase 1 Lithium Hydroxide and lithium carbonate Plant to be built in Salaberry-de-Valleyfield will have an average combined capacity of 426 tonnes per year at 80 % plant availability instead of the maximum 500 tpy mentioned.

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 Company 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 Company's lithium hydroxide/carbonate processing plant located in Salaberry-de-Valleyfield, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and lithium carbonate 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.