Nemaska Exploration Ranks First in Canadian Hard Rock Lithium Projects by Independent Researcher-SignumBOX

07 October 2010

QUEBEC CITY, QUEBEC--(Marketwire - Oct. 7, 2010) - Nemaska Exploration Inc. ("Nemaska" or the "Company") (TSX VENTURE:NMX) is pleased to announce that its Whabouchi lithium project has been ranked first in Canada and third in the world amongst hard rock pegmatite projects being developed. The study was produced by signumBOX, a Chilean-based provider of market intelligence research within the natural resource sector.

The report evaluates more than 33 pegmatite projects around the world and determines which are closest to entering the lithium supply chain. Projects are ranked using the signumPerformance Index (SPI). The SPI has been developed according the DEA methodology (Data Envelopment Analysis), which is a linear programming methodology that measures the efficiency of projects. Essentially, the methodology chooses one or more benchmarks for each project given a set of indexes, which results in a maximum efficiency number – all projects are ranked based on overall performance.

"We are obviously pleased to be ranked first in Canada by an independent third party researcher," commented Guy Bourassa, President and CEO. "We have assembled a group of experts in the lithium field enabling us to fast track the Whabouchi project. A metallurgy report and a Scoping Study are due by the end of the year. This rapid project development is a testament to a dedicated team that is focused on getting Whabouchi into production and enabling Nemaska to enter the global lithium supply chain."

The SignumBOX report has two main areas of focus. First, it looks at the uses of and demand for lithium in global markets, including historic growth rates and future trends of lithium applications. Second, it reviews known lithium resources and reserves, their locations and their various characteristics. The report analyzes existing producers and new projects (both brine and hard rock pegmatite) and ranks them according the signumBOX indexes. With this analysis, they forecast and project lithium availability in terms of real installed capacity for the next fifteen years.

An exceprt from the signumBOX ranking will available on Nemaksa's website at in the next couple of days.

About signumBOX

SignumBOX is a Chilean consulting company founded in 2009 with focus on market intelligence in industries related to natural resources and technologies. SignumBOX has deep knowledge and experience in the lithium industry, and through its products and reports brings updated information and analysis with forecast and projections.

About Nemaska

Nemaska Exploration Inc. is a mineral exploration company involved in the James Bay region of Quebec. Its main assets are the Whabouchi (about 2,240 hectares), Lac Levac (about 7,212 hectares), Lac Arques (about 35,270 hectares), and Lac des Montagnes (about 16,695 hectares) properties, 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.

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.

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.