Nemaska Exploration Confirms the Purchase of the Lac Levac and Lac Des Montagnes Properties From Golden Goose Resources Inc.

15 January 2010
MONTREAL, QUEBEC--(Marketwire - Jan. 15, 2010) - NEMASKA EXPLORATION INC. ("Nemaska" or the "Corporation") confirms the purchase of 100% interest in the Lac Levac and Lac des Montagnes properties, belonging to Golden Goose Resources Inc. (TSX VENTURE:GGR).

With this acquisition, Nemaska had to pay to Golden Goose Resources a total of 450,000$ and 4,285,715 shares and 4,285,715 warrants, good for a 24 months period at the price of 0,50$ per share. Nemaska also emitted a convertible debenture of 1,000,000M$. The first amount of 500,000$ is reimbursable in 18 months and the other 500,000$, reimbursable in 36 months. The debenture will be convertible at a price of 0,50$ per share and each share will be emit with warrant allowing to subscribe one (1) share at a price of 0,50$ for a 24 months period starting at the conversion time.

"The Closing of this acquisition represents an important step in the development of Nemaska. We now own a Ni-Cu-EGP deposit (Nisk-1) but most important, a controlling position on the "Formation du Lac des Montagnes" on a distance of over 70km", commented Mr Guy Bourassa, President and Chief executive officer.

Nisk-1 deposit, compliant resources:

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               Tons    % Ni    % Cu    % Co    g/t Pd    g/t Pt 
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Measured  1 255 000    1.09    0.56    0.07      1.11      0.20 
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Indicated   783 000     1.0    0.53    0.06      0.91      0.29 
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Infered   1 053 000    0.81    0.32    0.06      1.06      0.50 
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About Nemaska Exploration

Nemaska Exploration Inc., a reporting issuer in Quebec since November 2008, is a mineral exploration company involved in the James Bay region in Quebec. Its main assets, 100 % owned, are the Lac Arques (about 32,000 hectares), Whabouchi (about 1,600 hectares), the Lac Levac and Lac des Montagnes properties (about 32,000 hectares). These properties are contiguous and cover about 70 km of the Lac des Montagnes green belt polymetallic formation and 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). They are located near the Cree community of Nemaska and the Nemiscau 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.