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QUÉBEC CITY, QUÉBEC, CANADA–(Marketwire – July 18, 2012) – Nemaska Lithium Inc. (“Nemaska” or the “Corporation”) (TSX VENTURE:NMX)(OTCQX:NMKEF) is pleased to announce that the Corporation has selected a site in the town of Valleyfield Quebec, for its lithium hydroxide/carbonate plant. Nemaska is currently completing a Preliminary Economic Assessment Study (PEA) for the construction of a mine and concentrator in the region of Nemaska which will feed a chemical plant that will produce lithium hydroxide and lithium carbonate, mainly for battery manufacturing.
The Town Council of Valleyfield has approved the sale of approximately 1,320,000 square feet or 122,600 square meters of land for construction of the chemical plant. The site is located in the Perron Industrial and Harbourfront Park in Salaberry-de-Valleyfield, Quebec. The site location is well serviced by existing infrastructure including rail, operated by both CN and CSX, port facilities on the St-Lawrence Seaway and natural gas. The site is also located near end users of lithium hydroxide and potential purchasers of by-products such as aluminum silicate and gypsum, both produced from the proprietary lithium hydroxide/carbonate process to be used by Nemaska.
“Our facility will be located in an established industrial park where skilled labour, services, facilities and potential customers are all at our fingertips,” commented Guy Bourassa, President and CEO of Nemaska Lithium. “Our plan is to ship spodumene concentrate from the mine site in Nemaska to Chibougamau, transfer the concentrate to rail and ship it directly to our chemical plant in Valleyfield for secondary processing. Through this proprietary industry leading process, Nemaska will be delivering a value added product that is fully mined and processed in Quebec to customers globally. Our mine and chemical plant will create needed jobs in both the north and south of Quebec.”
Nemaska is expecting to deliver the PEA for the mine, concentrator and chemical plant in August 2012 with a Definitive Feasibility Study by the end of the year.
About Nemaska
Nemaska is an exploration and development corporation that is currently developing its Whabouchi lithium deposit located in the James Bay Region in the Province of Quebec. Nemaska is in the process of becoming a lithium hydroxide/carbonate producer based in Quebec. The Company has filed patent applications covering its unique method of producing lithium hydroxide and lithium carbonate. Nemaska also owns 100% of the Sirmac lithium project, located about 125 km south of the Whabouchi deposit. Both projects are easily accessible year round by the Route du Nord from Chibougamau. The Whabouchi lithium deposit is located near the Cree community of Nemaska and the Némiscau airport. The future chemical plant will be located in Valleyfield, Quebec. Nemaska is also an important shareholder of Monarques Resources Inc. (TSX VENTURE:MQR).
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.
Victor Cantore
Investor Relations
514 831-3809
[email protected]
Wanda Cutler
Investor Relations
416 303-6460
[email protected]
www.nemaskalithium.com
Jeff Walker
The Howard Group
Investor Relations
888 or 403 221-0915
[email protected]
