Nemaska Lithium Announces the Filing of a Second Prospectus Supplement for a Maximum Offering of $2,500,000

QUEBEC CITY, QUEBEC--(Marketwired - Oct. 16, 2013) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Nemaska Lithium Inc. ("Nemaska" or the "Corporation") (TSX VENTURE:NMX)(OTCQX:NMKEF) has filed a Second Prospectus Supplement (the "Second Prospectus Supplement") to the Base Shelf Prospectus dated March 4, 2013 with the securities regulatory authorities in each of the Provinces of Québec, Ontario, Alberta and British Columbia, in relation to a brokered offering (the "Offering") of a maximum of 20,833,333 units of the Corporation (the "Units") at a price of $0.12 per Unit. Each Unit consists of one common share of the share capital of Nemaska (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles its holder to purchase one Common Share, at a price of $0.18 per Common Share, on the date that is 24 months following the closing date of the Offering (the "Warrant Expiry Date"). The Corporation may accelerate the Warrant Expiry Date if, before the Warrant Expiry Date and at any time commencing the 20^th trading day following the closing date of the Offering, the trading price of the Common Shares listed on the TSX Venture Exchange is equal to or above $0.35 for a period of 20 consecutive trading days. The Offering is expected to close on or around October 28, 2013.

The Offering is being conducted by Secutor Capital Management Corporation acting as agent (the "Agent") on a reasonable best efforts basis.

In consideration for the services rendered by the Agent in connection with the Offering, the Corporation has agreed (i) to pay the Agent a cash commission equal to 8% of the gross proceeds of the Offering from Canadian subscriptions and equal to 6% of the gross proceeds of the Offering from offshore subscriptions outside Canada and the United States and (ii) to grant Agent options that will entitle the Agent or any member of the syndicate to purchase that number of Common Shares equal to 6% of the total number of Units sold to offshore subscribers outside Canada and the United States, at a price of $0.12 per Common Share, for a period of five years following the closing of the Offering.

The Corporation plans to use the proceeds of the Offering and other available funds for the completion of the permitting process for the mine and concentrator on the Whabouchi property, the completion of the feasibility study for the Whabouchi property, the hydrometallurgical plant in Salaberry-de-Valleyfield and for general administrative expenses and other working capital of the Corporation.

A copy of the Second Prospectus Supplement may be obtained on request without charge from the President, Chief Executive Officer and Secretary of Nemaska by emailing info@nemaskalithium.com or directing a request to Nemaska Lithium Inc. at 450, rue de la Gare-du-Palais, 1^st Floor, Québec, Québec, G1K 3X2, telephone: (418) 704-6038, Attn: President, Chief Executive Officer and Secretary, and are also available electronically at www.sedar.com.

The securities have not been registered under the United States Securities Act of 1933 (the "Act") or any state securities laws and may not be offered or sold absent registration under the Act and applicable state securities laws or an applicable exemption from the registration requirements thereof. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption there from.

About Nemaska

Nemaska intends to become a lithium hydroxide/carbonate producer based in Quebec and has filed patent applications for its proprietary production methods. 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.

www.nemaskalithium.com