Nemaska Exploration Provides Exploration Update on Non-Lithium Assets

18 November 2010

QUEBEC CITY, CANADA--(Marketwire - Nov. 18, 2010) - (TSX VENTURE:NMX) - NEMASKA EXPLORATION INC. ("Nemaska" or the "Corporation") is pleased to provide an update on exploration work carried out this past summer on its 100% owned Lac Levac (about 7,212 hectares), Lac Arques (about 35,270 hectares), and Lac des Montagnes (about 16,695 hectares) properties that are located in the James Bay Region of Quebec.

"We conducted an extensive exploration program on our non-lithium assets this summer and identified a number of high priority targets for follow up drilling this winter," commented Guy Bourassa, President and CEO. "By combining our controlling position of more than 85 km of strike along a polymetallic greenstone belt with further drilling and a well funded exploration program, we believe we will further define these excellent targets and gain a better understanding of their development potential as standalone projects."

Lac Levac

On the Nisk-1 nickel deposit, Nemaska commissioned SGS Mineral Services to conduct a flotation optimization study in May 2010. Results from this study are expected in the next couple of weeks. In addition, two diamond drill holes were completed in June 2010 (press release August 3, 2010) targeting mineralization below the known resource deposit. Down-hole Pulse EM surveys were also conducted in these two holes and based on data collected from both drilling and geophysics, the Company decided to drill an additional 2,400 m to confirm the continuity of the mineralized zone at depth. Drilling is expected to commence during the winter of 2011. Depending upon results of this drilling Nemaska may chose to update the current resource estimate and initiate a Preliminary Economic Assessment on the project.

Lac Arques

The Lac Arques property contains the Rupert Complex and the Bourier Lake Sector. Located in the North-East part of the property, the Bourier Lake sector has been the subject of a major exploration campaign during the months of July, August and September 2010. The goal of this exploration work was to verify the source of a large 12 km long EM conductor that was identified by a heliborne survey conducted in 2009 by Nemaska. Prospecting, soil surveys, trenching and channel sampling were carried out on a 7 km section of this conductor. Nemaska determined that the conductor is an exhalative massive sulphide horizon or a sulphide facies of iron formation, ranging from 1 to 4 meters thick, sub vertical dip, contained in a sedimentary quartzite. Anomalous values of copper, silver, and zinc were obtained.

A total of 14 trenches spaced 600 m apart were completed along the 7 km section of the conductor. Around 200 meters of rock was exposed and 293 samples were collected in 27 channel samples (164.5 m). One area in particular has yielded up to 1.16% zinc. This area was stripped for an additional 20 m in length and 4 m wide. The four best results are:

Sample # Zn (%) Length (m)
15685 1.16 0.5
15693 0.96 0.5
15691 0.93 0.5
15657 0.81 0.5
15684 0.79 0.5

Nemaska intends to follow up on this massive sulphide horizon of 12 km with geophysics, soils samples anomalies, trenching results, mapping and structural features. 2,700 m of drilling is expected to begin in winter 2011 to assess it.

After a thorough geological survey and in the absence of outcrop it was decided to conduct a 4,000 m diamond drilling campaign on the Rupert Complex. Drilling targets are identified using the results of the heliborne magnetic survey completed in 2009. Drilling will commence in winter 2011.

Lac de Montagnes

The Lac des Montagnes property hosts the Valiquette and Duval showings. The Duval showing was identified during a fieldwork program carried out in the summer of 2010. It is located in an area of altered pyroxenite containing disseminated to semi massive sulphides. The work to date includes prospecting, a geophysical survey, stripping, trenching and channel sampling. A total of nine trenches covering 400 m along strike of the mineralized zone were completed. These trenches were spaced approximately 50 m apart and intersected the mineralization at a perpendicular angle. A total of 757 m of trenches were dug, and 82.4 m of channel samples were collected during the campaign. The mineralization is contained within a pyroxenite and gabbro sheared and altered band measuring 40 to 70 m wide. This band, composed of pyroxenite and gabbro, is sandwiched between a peridotite intrusion to the north and a band of pegmatite to the South. The best test results obtained from channel samples are as follows:

- 1.12% Cu, 0.42% Ni, 0.76 g/t Au and 13.4 g/t Ag over 0.9 m; Duval

- 0.78% Cu, 0.50% Ni, 0.23 g/t Au and 3.6 g/t Ag over 0.6 m; Duval 3

- 0.45% Cu, 0.22% Ni, 0.13 g/t Au and 8.7 g/t Ag over 0.6 m; Duval

- 0.44% Cu, 0.02% Ni, 0.49 g/t Au and 2.4 g/t Ag over 1.2 m; Duval 2

- 0.41% Cu, 0.24% Ni, 0.08 g/t Au and 1.7 g/t Ag over 0.6 m; Duval 3

Nemaska plans a diamond drilling program totalling 750 m targeting this showing, during winter 2011. The goal of the drill program will be to establish that the mineralized zone continues to depth.

The technical sections of this press release have been prepared by Yvan Bussières, P. Eng. qualified person as defined in National instrument 43-101.

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 1,716 hectares), Lac Levac (about 9,200 hectares), Lac Arques (about 39,470 hectares), and Lac des Montagnes (about 12,740 hectares) properties, all 100 % owned. These properties are contiguous and cover about 85 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. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward‐looking statement.